It may seem like every listing sells the first weekend these days, but as the
market begins to slow down, more sellers are facing the dilemma of an
aging listing. If your listing has been on the market for a while, buyers
naturally assume that there is something wrong with the home and avoid
viewing the home. Fortunately, there are strategies to renew the listing and
re-engage buyers’ interest.
If your listing is losing steam, the first step is to understand why. Typically, if
a home is not getting offers, it’s priced too high. Even homes in terrible
condition will sell quickly for the right price. In a market where homes are
selling quickly, it’s common for sellers to assume they can push their listing
price even higher, but savvy buyers and agents will reject overpriced
Another strategy is to put the home on hold and make a few updates. In
most cases, simply adding a fresh coat of paint or new carpet can offer a
more appealing look to buyers. In other cases, to garner a top price, sellers
may need to replace appliances or more. Always weigh the cost in dollars
and time before making significant updates.
Finally, some Multiple Listing Services (MLS) allow an agent to refresh the
listing by temporarily taking it off the market for a few days and then placing
it back on “active” status (with seller authorization). This triggers new alerts
to both buyers and agents who are looking for a comparable property. If
your listing is not getting the attention it deserves, speak to your agent
about your options.
How much Equity do I have in my home?
To determine how much equity you have in your house,