Frustrated Sellers Cancel
& Re-List . . . at the Same Price
Usually as a home’s time on the market climbs, Sellers become more realistic and accept incremental price reductions.
One standard realtor strategy, after a home has failed to sell after 60-90 days, is to cancel the listing and bring it back on as “new” — usually with a lower price to spur traffic.
Anecdotally, I’m seeing more instances of Sellers canceling and re-listing . . . but not changing the price.
An Inconvenient Truth?
Clearly, there’s some Seller frustration operating here (it wouldn’t be the first time that that happened in a soft market).
One might infer that such a Seller thinks that their home is already well-priced, and is just being overlooked by the market. And certainly, if the Seller has just made some mid-course improvements (new paint, carpet, etc.), sticking with the same price might be justified.
However, in my experience, when an otherwise well-marketed home is sitting, there’s a good chance that the problem is price.
Choosing to ignore that isn’t likely to result in a sale — and canceling and relisting simply squanders any fresh exposure that might be generated.