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I think I want to take my house off the market - advice? next steps?

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bunnyluck
LIF Adult

Member since 1/14

3196 total posts

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I think I want to take my house off the market - advice? next steps?

Our house has been on the market for three months now and we have not received a single offer. I honestly believe it is priced too high. That said, it really doesn't make sense for us to sell unless we get asking or close to asking (after fees, taxes, moving expenses, etc.) I am NOT willing to take a loss because we really don't HAVE to move at this point in our lives.

The whole process is starting to frustrate me too, I find my realtor to be very ANNOYING. She showed up at my house one day unannounced "looking for us." I feel like I made a rookie mistake and signed a 6 month contract with the realtor. I wish I would've done 3 and then reassessed. If we want to back out, now what?

I guess legally we have to let it ride until but to be honest, I am no longer changing my weekend plans, keeping my home like an exhibit, rushing home for weekday showing, to show this home. I am just over it and would rather stay put for at least another year.





Posted 5/11/16 9:54 AM
 
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loveus
LIF Adolescent

Member since 9/13

684 total posts

Name:

I think I want to take my house off the market - advice? next steps?

I'm pretty sure you can stop showing it at anytime and take it off the market.
If you sell the house within the contract time you would owe her the commission.

Posted 5/11/16 10:40 AM
 

MrsProfessor
hi

Member since 5/05

14279 total posts

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Re: I think I want to take my house off the market - advice? next steps?

Pretty sure you can take it off but can't relist with someone else till the current contract expires.

Posted 5/11/16 10:46 AM
 

ave1024
I Took The Wrong Road

Member since 12/07

6153 total posts

Name:
That Led To The Wrong Tendencies

Re: I think I want to take my house off the market - advice? next steps?

Posted by bunnyluck

I am no longer changing my weekend plans, keeping my home like an exhibit, rushing home for weekday showing, to show this home. I am just over it and would rather stay put for at least another year.





If you are still getting showings at the current list price what's the big deal? You never know when somebody may come in and find your house to be "the house".

Posted 5/11/16 11:37 AM
 

JDubs
different, not less

Member since 7/09

13160 total posts

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Re: I think I want to take my house off the market - advice? next steps?

Posted by MrsProfessor

Pretty sure you can take it off but can't relist with someone else till the current contract expires.



This

Posted 5/11/16 11:52 AM
 

TheDivineMrsM
2 girls 4 me!

Member since 8/08

7878 total posts

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Mama mama mama....

Re: I think I want to take my house off the market - advice? next steps?

Posted by ave1024

Posted by bunnyluck

I am no longer changing my weekend plans, keeping my home like an exhibit, rushing home for weekday showing, to show this home. I am just over it and would rather stay put for at least another year.





If you are still getting showings at the current list price what's the big deal? You never know when somebody may come in and find your house to be "the house".



Agreed. The house I bought was on the market for 4 months before we saw it. There was a sudden upsurge in interest on it and out of nowhere, we were one of two offers.

Posted 5/11/16 12:16 PM
 

bunnyluck
LIF Adult

Member since 1/14

3196 total posts

Name:

Re: I think I want to take my house off the market - advice? next steps?

Posted by ave1024

Posted by bunnyluck

I am no longer changing my weekend plans, keeping my home like an exhibit, rushing home for weekday showing, to show this home. I am just over it and would rather stay put for at least another year.





If you are still getting showings at the current list price what's the big deal? You never know when somebody may come in and find your house to be "the house".



I feel like our midset has changed and the drive to move just isn't strong anymore. Plus there is nothing on the market I'd move into which is scaring me. The more I look I feel like to get anything worthwhile we need to up our budget even more. Which we'll need to save for. Then I'm like it's absurd to spend $XXX on a home. Clearly, lots of mixed feelings.

Posted 5/11/16 12:19 PM
 

MrsB12614
LIF Adult

Member since 4/14

1986 total posts

Name:
Mrs

I think I want to take my house off the market - advice? next steps?

If you aren't sure- I would wait and take the house off the market. I believe you can stop showing at any point as long as you don't relist with someone else during your contract period

Posted 5/11/16 12:46 PM
 

LSP2005
Bunny kisses are so cute!

Member since 5/05

19458 total posts

Name:
L

Re: I think I want to take my house off the market - advice? next steps?

You can tell your realtor to remove the listing. You just can't sell it with another realtor or privately for the duration of the contract, and for some a month or so more if they brought you the interested party. Just call and say you no longer want to sell. I will say it took my townhome seven months to find a buyer and then a few more for closing to occur.

Posted 5/11/16 1:58 PM
 

CSK
LIF Adolescent

Member since 9/11

892 total posts

Name:

Re: I think I want to take my house off the market - advice? next steps?

Posted by LSP2005

You can tell your realtor to remove the listing. You just can't sell it with another realtor or privately for the duration of the contract, and for some a month or so more if they brought you the interested party. Just call and say you no longer want to sell. I will say it took my townhome seven months to find a buyer and then a few more for closing to occur.



This is true.
Also I've heard some realtors will let you out of the contract if you feel its not working, if you're looking to list with someone else.

Any leads that they brought from their listing time, they would get commission on.

Posted 5/12/16 9:37 AM
 

mommy2be716
LIF Adult

Member since 1/16

2921 total posts

Name:

I think I want to take my house off the market - advice? next steps?

Just my opinion, but I think you should leave it on the market. Alot of people will be looking now through the end of the summer.

Posted 5/12/16 12:30 PM
 

alli3131
Peanut is here!!!!!!

Member since 5/09

18388 total posts

Name:
Allison

I think I want to take my house off the market - advice? next steps?

I just took mine off the market. Our listing expired but even if it didn't we decided to stay put. Look at your contract. Ours stated we could cancel at any time but could not relist with another agent for x months.

If you are not 100% sure you want out of your house take it off the market. You are wasting your time, agents time and buyers time.

Posted 5/12/16 1:28 PM
 

PennyCat
Just call me mommy :)

Member since 7/08

19084 total posts

Name:
Jib

Re: I think I want to take my house off the market - advice? next steps?

We made the same rookie mistake when signing with our agent who sold my house. Thankfully. He sold it VERY quickly so in his defense, he did his job. I just wasn't thrilled and found him unprofessional and lazy. I think it's prob a common mistake but maybe someone reading this won't make that mistake and sign for 3 months or something less.

Posted 5/12/16 4:32 PM
 

Christine Braun - Signature Premier Properties
LIFamilies Business

Member since 2/11

3992 total posts

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Re: I think I want to take my house off the market - advice? next steps?

Of course, you have to look at your contract for any specific additions/changes, but with the standard MLS contract for a listing, the agent has the exclusive right to sell for the duration of the contract.

However, as others have said, you can certainly withdraw your home from the market at any time. You would just need to re-list with that same agent (or pay her commission if you sold privately) for the duration of the contractual period. But you are not forced to keep the home on the market if you changed your mind about selling. It's very common to have people withdraw their homes from the market for a variety of reasons.

Also, as far as thinking your home is priced too high - in this market - yes, if you haven't received an offer and it's been on the market for months (and you are providing access for showings), most likely it's priced too high. But what does your realtor say?

As far as a "rookie mistake" - most people sign for at least 6 months. That is what most real estate companies require (or strongly prefer), as it does cost us money to market the home and it's an investment of time and resources. So we want the time to let it pay off. Also some sellers do want to start too high, but will gradually bring the priced down over time, so you want to allow time for that process to occur.

But it sounds like you need to speak to your current realtor -- or your next one - about what your expectations are for your agent and make sure you're on the same page.

Posted 5/15/16 1:18 PM
 
 

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