A second question is how long should you wait to relist? Depending on locations, most homes must be off the market 60 to 90 days before being considered a new listing. Many sellers focus in on this because so much emphasis is put on the “days on market” stats that show prominently in the Multiple Listing Service or MLS. Remember, however, that even with the clock reset, agents can easily find the cumulative sales history of the house, including prior listings that didn’t yield a sale.
How has the market changed since you previously listed? This is a key question to discuss with your agent. Is it a healthy market where homes are selling briskly, or is it slow? What are the average “days on market,”an indicator of how long it takes to sell? At which price range are homes selling fastest and which slowest?
Learn from your mistakes and set the right price. Set it too high and the house will languish, forcing future price reductions. Is this the trap that you fell into before? Also, be savvy about where you fall in price range searches. For example, if your home is valued at $255,000, it won’t be seen by buyers searching in the $225,00 to $250,000 range.
Clean, repair and stage your home. If you didn’t do some of these things before, make them a priority. Check the feedback from your previous listing period. Take the advice and make reasonable changes and fixes.
Redo pictures and website. Once you’ve cleaned and staged, your agent should retake professional pictures to create a new online presence for your home. The photos should also be taken from the current season. Winter photos displayed during the spring are an obvious turn off to potential buyers.
