Relisting Your Property? These Tips Are For You
Relisting the property is not an attractive proposition for a seller. This shows poorly on the property because there was something not right with the listing in the first attempt that it couldn't fetch the right buyer and the price. This raises more questions than interest.
Were you also trying to sell your property but couldn't do so, in the first attempt? However, after a few months of break, when you figured that the market is bouncing back, you planned to relist it. Though relisting is considered to be a bad proposition and can impact the asking price of the property, there are ways in which you could turn relisting in your favour and fetch the right buyer and the right price, too.
Here are some tips that could help you strike a deal the second time:
Analyse the reasons why it didn't sell
Now that you plan to get your property back in the market, it is time for some reality check. List out the reasons to analyse why your property did not sell. This could include the asking price, the damages, unappealing photographs and description or even an unstaged property. Hire an agent this time to help you know the errors and rectify them.
Know when the time is right
After you take down your property from the listings there is a certain time gap that one should maintain before relisting it. While some try to come back in a week or two to make the listing look fresh, like it was never taken down, some take a three-month gap to come back with an all new property at an all new price. For your property you need to know the reason why you have to relist. If the price was the hitch, then you could rework the price and list it in a short period. However, in case the property could not be sold due to construction damages and bad listing images, you should take your time to rectify all of this and come up with the new listing.
Low-cost improvements will help
Some improvements in the property might cost you initially, but, this investment could fetch you the price you want. While a buyer could have negotiated the property price based on certain property related faults, now that you give a well-groomed property, there will less room for negotiation.
Better photographs can be a saviour
One of the prime reasons a buyer never contacted you after seeing your property listing online could be the photographs of the property. Property pictures can either get you many queries or completely put off potential buyers. Once you give a property some makeover and stage it better, hire a professional photograph and ask them to take pictures that make the property look appealing.
A better price might help
As a thumb rule, if a property has not received a single offer for 40 days, the property may be overpriced. We all find our property worthy, but, an asking price that is competitive can make your property attract buyers. While a price drop is not necessary when relisting, you need to know the market sentiment and act accordingly. Here you would need an agent and also, some clear understanding about the price trends in your locality.