It's been a long year and the market has yet to pick up as I was expecting it to. Many homes are sitting and gathering dust and are not getting the activity they had hoped for. There are over 100,000 listings available in between Broward...Dade and Palm Beach counties. I am sure there are other states experiencing the same thing......so maybe it is time to sit down and reflect.
I was thinking that if I could get at least 75% of the homeowners to take their homes off the market for ...let's say 3 months then maybe the glut would end and more buyers would be attracted to buying homes without over paying. In past years I was able to sell homes during the holiday season but because of the current trends we are seeing I would suggest trying something different. If buyers are looking for good deals then the time is now. If sellers are looking to sell quicker then I might suggest taking a break if they can. Many homeowners are probably thinking the same thing but are afraid if they do take the home off the market they might lose a potential prospect. It is only natural for us to think that way.... but if history repeats itself and continues on this path it probably won't matter. So just take a break and refuel.
This would probably help reduce inventory...stabilize prices...lower interest rates and attract more buyers to Florida. Right now there are many great deals out there and I'm wondering why more buyers haven't taken advantage of an excellent situation? So taking your home off the market temporarily probably won't hurt. Most people are busy right now and why not take advantage of some down time by trying to help the cause for everyone. If we can reduce the inventory maybe it would help some homeowners who are not as fortunate and can't wait because of difficult hardships they are experiencing. Properties need to be priced correctly in order for this to work.
We need to find ways to stabilize the market not just for the sellers but for the buyers and for the banks as well. Right now we are probably going to see an additional decrease before it stabilizes. I would compare this to getting the oil in your car. Sometimes it just takes a fresh oil change to keep the engine running smooth.
Why not take some time off and see if we can all do something about it.
Make sure that you hire a Realtor® who can help guide you in the right direction.
19 Comments on Please take all of your homes off the market for the holidays
This is a great thing to do not only to get the market back on track but it does nothing good for you to have a listing just sit. I have taken 30% of my listings off the market in the past 6 months because the price it would take to sell was not going to be acceptable.
Neal, I think you had one to many beers today buddy, the odds of this happening are about as good as me becoming good looking :)
The Sellers and most Realtors out there would probably go for this if it is someone else taking their house off the market or pulling their listings. But I do not think that most will be willing to be the one to step back and wait.
I'd drop a listing...but someone else would snag it and set it up at a price that's TOO HIGH- we have it at a saleable price that will take some time. It shouldn't take some time...interesting post, Neal.
Nice idea, the only thing, is do people will do that ? hm... people are so stubborn and they do not care many times :) great blog my friend. Good thoughts.
This sounds like a nice idea Neal. But as soon as your listings come up in MLS the off the market, there will be another agent knocking on their door wanting them to relist .
You never know how many serious sellers are thinking about trying this.
Lisa,
Might be good advice if they are not realistic.
Tom,
You just do not have any:)
George,
Let them..I have seen too many just sit...they are only adding to the problem and I have been guilty of doing it as well. But I started to think...is it really productive? NOT
Bob,
I'm not sure how Kansas would handle this but at least you were open to a new idea:)
Laurie,
How many do you need? Is it worth taking them all? I don't worry about that...there are true sellers out there and so if I lose one to someone else just based on the fact that they have it now...well unless they can do something to dramatically change it ...they will sit as well..you ever hear of being the 3rd or forth Realtor(R)?
Ray,
Of course some won't agree...then they can keep watching all the negative news. Inventory is the main problem right now...why add unnecessary fuel to the fire?
William,
Off subject...same to you and yours as well!
Larry,
So let them...like I said above ....do you want to own it or sell it?
I don't think that would work here. I keep all mine on the market until they sell. We have a good market so my listings all sell and usually within 90 days. I price them right and get them sold.
I do not know the laws in your state but I assume if the seller requests this in writing then how would you define that as collusion if it is their decision. You would have to check with your broker. I said please...I never demand anything:)
Neal Bloom-Realtor ® Assoc.-CRS-Weston FL Weston, FL More about me
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This is a great thing to do not only to get the market back on track but it does nothing good for you to have a listing just sit. I have taken 30% of my listings off the market in the past 6 months because the price it would take to sell was not going to be acceptable.