The end of 2014 has come and gone and we have seen many memorable things within that time span. Now, the beginning of 2015 is upon and the ghosts of 2014 still surround us forcing us to make incredibly tough decisions. Hundreds of homeowners across the country are forced to make difficult decisions regarding their house as their “listing for sale agreement” on their house is set to expire. Now those homeowners must decide whether they want to take their house off the market (OTM), attempt to sale their house themselves (FSBO) or list it again with the same (or different) agent. Let’s take a more in depth look at each possibility:
Taking Your Home off the Market
After putting your house on the market and watching it simply sit there, you’re are more than likely going to be a bit upset. You might be thinking that no one in the marketplace thought the house was worthy of the sales price. Because you are upset you may rationalize that selling wasn’t important at all.
“Well, we didn’t’ really want to sell the house anyway. This idea of making a move right now probably doesn’t make sense.”
Instead, you should be asking yourself:
“What made us originally put our home up for sale?”
If that reason made sense a few months ago when you originally listed your house for sale, the chances are pretty good that it still makes sense now. Don’t give up on your dreams because of a small bump in the road.
Re-Listing with your Existing Agent
So, your house didn’t sell for whatever reason. Perhaps the market was slow, the listing price was too high, or you didn’t heed your agent’s advice. If that is the case, give your existing agent another chance. But, if your agent didn’t perform to the standard they promised, then it may be time to FSBO or try a new agent.
For Sale by Owner
You may be at your breaking point with your agent and feel that finding another one will simply be more of the same. Trying to sell your home on your own this time around may seem alluring and you may think you will be in full control and save a ton on the commission. The reality of the situation, however, is that this is simply not true. Even if you can negotiate with all parties involved in the home buying/selling process, put together a comprehensive marketing plan, and do showings yourself, the statistics show that you end up leaving more money on the table than you would lose in commission with an agent.
List with a New Agent
Now, we know you may have had a rocky time with your previous agent, but not all agents are the same, so it would be detrimental to paint them as such. Have you ever had a bad haircut before? Did you stop cutting your hair altogether or did you find a new stylist? The point is that you will find good and bad in every profession (stylists, agents, teachers, lawyers, doctors, etc.). Finding a bad apple does not mean you should swear them off altogether. You initially believed that using an agent made the most sense and, to be honest, it probably still does. So, if you are making the tough decision and need help deciding, contact your local real estate professional (us) to discuss the possibilities.