Should I take my home off the market?
If you ask a seller whether they want their property sold quickly, the answer will usually be yes. However, what if you haven’t sold in the time you were expecting? When is it time to take your property off the market for a break? How long is too long?
You don’t want your property to stay on the market for so long that prospective buyers begin to wonder if there is something wrong with it.
So when is it time for a break?
● When you generate no interest for 3 months - Little interest and you may be wary, but no interest at all, you should be worried! Where your property generates no interest in this time, it might be time to take it off the market for a break and consider marketing with another agent.
● When prospective buyers consistently provide the same feedback – If buyers are consistently coming back with the same feedback, then, if applicable, it may be time to remove your property from the market to carry out any works. For example – paint that bright coloured room or rearrange furniture. Carry out the works, give your property a ‘rest’ from the market then ‘re-launch’ with brand new marketing.
● Where your asking price is too high - You may consider reducing the pricing on your property to attract more buyers. Only do this if you’re confident that your agent will conduct a proper 'relaunch' to make the most out of your reduction. Otherwise, get another valuation from another agent, making sure they provide suitable comparables to support their views. Dependent on the feedback you can then make an informed decision as to whether you reduce. If you're not 100% confident your agent will make the most out of the price reduction then remove your property from the market and relist with another agent at the new price.
● Lack of confidence in your selling agent – If you are not confident in the knowledge, experience and marketing power of your agent, or if the service you are receiving is not what you expected, its time to make a change. Don’t entrust what may be your biggest asset, to someone that may not be giving you the best service.
If you decide to remove your property from the market, make sure you read your agency agreement carefully. Your new agent will be able to help you with this.
Once your home is relisted with an Agent you can trust, you will be on your way to getting sold.