The Serial Cancel-and-Relist Property

If early May is when perennial flowers bloom (at least in Minnesota), it’s also when the real estate equivalent (re)appears:  the oft-listed, oft-cancelled property that comes back on the market each Spring after not selling the previous season(s) — albeit at a better price.

By definition, these properties are characterized by one (or more) of the following three attributes:

One.  “Patient” (unmotivated) Sellers, presumably with deep pockets;

Two. Aggressive asking prices (at least once upon a time);

Three. Rarified market niche without much competition or near-substitutes.

That last attribute can include price (upper bracket); location; and style or features (the truly unique, one-of-a-kind property).

Oddly (or not), such Sellers often attract Buyers much like themselves:  patient, deep-pocketed, and looking for truly unique properties (albeit at a good price).

See also, “Buyer – Seller Resemblance.”

About the author

Ross Kaplan has 19+ years experience selling real estate all over the Twin Cities. He is also a 12-time consecutive "Super Real Estate Agent," as determined by Mpls. - St. Paul Magazine and Twin Cities Business Magazine. Prior to becoming a Realtor, Ross was an attorney (corporate law), CPA, and entrepreneur. He holds an economics degree from Stanford.

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