Expert: Dick Dennis - 6/2/2010

Question
Hi,

I've had my home for sale on the market for over a year and I'm taking it off the market for about six months, then putting it back on early 2011.

I'd rather ask you this question than my Realtor: I think it's best to put it back on the market early next year under an entirely new listing. How much does this cost, generally, to create a new listing, rather than put the old listing back into play after having the home off the market for 6 months?

Would my Realtor be justified in not opting to create a new listing?

Perhaps new photos should be taken too, with new angles.

Any other suggestions, besides some more favorable staging?

I don't want to dump my existing Realtor because he seems reasonable (although not always prompt in returning my e-mails), but maybe I'd sell it faster by going with a new Realtor after taking it off the market for 6 months.

Your thoughts?
Thanks,
Roger

Answer
I like your idea, Roger. However, you're going to have to make sure your listing with your present Realtor has expired. Once it is expired, you need not be concerned about and costs to recompense the agent. I like your idea of practically making a new listing out of it at that time. But do not make the mistake of listing it for a too-high of a price at that time. You should actually see what the market is for your house at that time. The Realtor should give you a CMA (comparative market analysis) as a way to let you know at price your home should be. If you list it too high, then you are wasting valueable selling time. Perhaps another GOOD agent in town would give you a more realistic value.

The fact that you had your house on the market for a year with no sale tells me that your price was too high, even if you lowered the price somewhat during that time. Keep in mind that a too-high price is always the culprit why a house does not sell. It is too high for the location, or it's too high for the terms, or it's too high for the condition. Whatever.

I do wish you well.

Dick Dennis
dixiedee13@aol.com