The decision to take your home off the market is one that should not be made lightly. Delisting it could mean a missed opportunity to sell the home. If you are thinking of delisting or temporarily taking your home off the market, here is what you need to know.
Why Should You Delist?
As the homeowner, you have the right to decide at any time whether or not you want to leave your home on the market. However, delisting it can make potential buyers wary. They might be concerned that there is an issue with the home that led to the temporary removal and this could turn some buyers off.
However, in some situations, it makes sense to take the home off the market. For instance, if you live in an area in which the housing market is oversaturated, it might be difficult to get a fair offer for your home. You should also consider delisting your home if it is in need of extensive repairs.
Some homeowners delist their homes when they experience a financial change. Changes, such as losing a job, can impact whether or not you would be able to secure another loan to buy another home, which could make it a less-than-optimum time to move.
Whatever your reasoning, it is important to work with a real estate agent when it is time to relist the home. Due to the delisting, you might have to take additional steps to help ensure your home sells.
What Should You Do To Relist?
Depending on how long your home has been off the market, it might be smart to have it reassessed by your real estate agent. After a few months of being off the market, your home might need to have touch ups to help it stand out from other homes up for sale. A reassessment of your home also gives your real estate agent a chance to determine what the listing price for your home should be.
If the real estate agent recommends minor home improvements, such as painting or landscaping, try to have those items completed before relisting your home. When making cosmetic changes, keep in mind that you want to avoid making cosmetic choices that could unappealing to buyers. For instance, do not choose a trendy color to paint your home. Stick with neutrals to make it more appealing to buyers.
Your real estate agent can help you determine if there are any other steps you need to take before relisting your home.