How to Re-Enter the Market the Right Way

If you tried to sell your home once already and failed, how
long should you wait before trying again?


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If you tried to sell your home and were unsuccessful, how long
should you keep it off the market before resetting and trying
again?

The official reset time period for the MLS is 60 to 90 days, but
buyers tend to be active on the market for anywhere between six and
18 months. This means the MLS will reset your house’s number of
days on market back to zero, but the buyers won’t be fooled.
They’ve been watching homes roll through for much longer to see
what kind of deals they can get.

What does this mean for you? You can either wait an extremely long
time to try again and do it the same way in the hope of introducing
yourself to some new buyers, or you can jump right back in and
correct all the problems that caused your home sale to fail in the
first place.

Generally, these problems are limited to two areas: price and
condition. The two of them almost go hand in hand; you can offset
condition issues by price, and vice versa. The tendency is to
assume your failure had more to do with poor marketing on behalf of
your agent. While that can certainly be true, more often than not,
it boils down to factors that you control yourself.

“

If your home is overpriced, you will compete in the wrong
market & draw the wrong buyers.

”
If you’re overpriced, that dictates who you’re competing
with, meaning you’re competing with the wrong houses and have the
wrong buyers looking at your house. You’re doomed to fail right
before you start. If you’re under-conditioned, nobody will want to
buy your house. They’ll consider it all the way up until another
home comes along offering them a better value or better condition
for the same price.

At the end of the day, you’re better off hiring a new agent, making
a rapid course correction, and jumping right back into the
fray.

If you’d like an evaluation or some assistance with trying to
resell your home with a different agent, we’d be happy to help. If
you have any other questions, give us a call or send us an email.
We look forward to hearing from you!