Optimism for Winter Buyers, But Why Are Some Listings Being Pulled?

November 16, 2009

Residential

I am optimistic about the last six weeks of the year. My listing inventory continues to grow but I am running around with more buyers. Momentum is gaining. But I don?t understand something: Why are agents taking their listings off the market until after the new year?

If It Is Not Listed?..

winter-home-sqIf your home is not on the market, there is no opportunity to show it to potential buyers. People looking to buy today are among the best qualified and most motivated. But some Realtors and sellers who think removing their property from the market may be making a big mistake. Taking a property off for 45 days, to hide the length of time your home was initially on the market, is not going to increase your property value anymore in January or February. Based on short sale and foreclosure reports, re-listing your property in 2010 could make your home be worth even less. Distressed properties will continue to impact residential resale just as much as ongoing price reductions by developers.

According to the Illinois Association of Realtors, 37% of home buyers are new to Chicago. If you remove your listing, you are missing one in three of your potential purchasers. Nearly half of these home buyers are first-timers who are eager to cash in on the federal tax credit. Moreover, these buyers often wish to move quickly into their new home in the new city. Few of these people are concerned about buying during the holiday season. With very little inventory coming on the market right now, this may be your best opportunity to sell your home for the best and highest price.

Holiday Mode

I am feeling a sense of defeat from some agents who encourage their clients to remove their homes from the market during the holidays. It seems that they have decided the market is going too slow and they don?t wish to be bothered. Being a professional Realtor® is like being a professional ball player. You got to keep your eye on the ball and follow through. Real estate is a 24/7, 365 days a year business. If your agent is reluctant to list your property, I am sure there are many others who would be happy to help you. You cannot sell a secret!

We would like to thank adjustafresh for sharing today?s photo via the Creative Commons License.
Email This Post To a Friend. Email This Post To a Friend.

About Andrea Geller

Andrea Geller, Realtor® with Sudler Sotheby?s International Realty, specializes in residential real estate sales and marketing of resale properties and new construction homes. Acknowledged as an expert in the real estate industry, Andrea has been interviewed for industry related articles for print and online media including the Chicago Tribune, Crain's Chicago Business, Reuters, Bankrate.com, and Illinois Realtor Magazine. Andrea's commitment extends to the community as an active member of several professional associations. Her appointments include the Board of Directors of the Chicago, Illinois, and National Association of Realtors® and the Lakeview Chamber of Commerce. She markets herself under HOT PROPERTY®, an innovation in the real estate industry led by Chaz Walters that has been marketed since the 1990s. This unique real estate concept is always a step ahead of the industry providing marketing from cutting edge interactive exposure to targeted innovative advertising opportunities. Visit her at www.hotpropertychicago.com or 773.868.3090.

View all posts by Andrea Geller

Comments are closed.