When you first list your home for sale, the goal is to see an offer or two from a highly qualified buyer quickly. Unfortunately, sometimes days and weeks go by without much interest. When this happens, it may be time to reevaluate the listing and cancel the listing. Here are 6 signs that it’s time to take your house off the market.
1. Your Financial Situation Has Changed – If you are planning to buy a new home and you are no longer able to do so, then it could be time to cancel the listing, job loss, major expenses, etc.
2. Lowball Offers – Lowball offers could mean either that the house is priced too high, or buyers see the home as a fixer-upper.
3. Repair Needs – If you discover major repair needs, such as a new roof or slab leak, it might make sense to repair and then relist.
4. Needs Updating – While most real estate agents discourage making updates before listing if you are getting feedback from buyers that your home is too dated, performing targeted upgrades may help sell when you relist.
5. Too Much Competition – Even in a seller’s market there can be too many options for buyers. If you can wait for a slower market, your home will stand out more and garner more interest.
A seller’s market does not guarantee that every listing will sell quickly and for a good price. If your home is not attracting the offers you’d hoped for, consider removing it from the market and adjusting your approach.