A Withdrawn Listing: What it Means for Houston Homeowners
A withdrawn listing means that a Houston homeowner has decided to not sell the house. It does not mean that the house is sold or that they are no longer working with an agent to sell. There are different reasons why a Houston homeowner may change their mind during a sale. Often times, the Houston homeowners will withdraw a listing for a short period of time and then re-list the property.
Change in Lifestyle
One of the main reasons a person may withdraw a listing is due to a major change in their lifestyle. If a major life event has happened or a financial crisis, they may have to deter moving into a different property. Transferring in a job is a popular reason for a person to need to move. If that job becomes unavailable or they decide not to take it, they may also decide to keep their current home.
Renovations
During the sale process, a Houston homeowner may discover problems or renovations that need to be completed. Some repairs are quick and easy. These are typically completed with the property still up for sale, and the owner discloses that the repair will be complete before a sale is complete. For a more complicated renovation or repair, the listing may be withdrawn.
A Houston homeowner may find that they are not getting as high of offers as they hoped. Doing a major renovation can sometimes spark the interest needed to get higher offers.
By taking the property off the market, the homeowner can complete these renovations. After the work has been completed, they can list the property and attract new buyers.
Incorrect Pricing
Some Houston homeowners refuse to negotiate the price. A house that is not priced properly will have a hard time selling, especially if the homeowner will not budge on this price.
Many times an overpriced property will sit on the market for long periods of time. The longer a property sits, the less faith a buyer may have in the quality of the house. A homeowner may withdraw the listing and wait until the market is hot to re-list. This will make the listing appear fresh.
Too Long of Process
A Houston homeowner may list their house during the summer and not complete a sale when winter rolls around. During the holiday season, many homeowners want a break from the selling process. The constant negotiating with buyers, showing the house, and cleaning at every hour of the day can get tedious. To take a break during a stressful time of the year, a homeowner may withdraw the listing until their lives are less busy.
A withdrawn listing does not mean that the Houston house is not an option to buy. Withdrawn listings are still working with a real estate agent. This means a buyer can contact the agent about the home to see if the owner is willing to listen to an offer. Sometimes owners are okay with listing the home again if there is enough interest in the property.
When looking at Houston home, a withdrawn listing can be disappointing and confusing. Many times buyers are left wondering why a seller would want to sell a house at one moment and change their mind the next. With the pace in which life can change, a Houston homeowner may be faced with a financial or lifestyle change that makes it no longer a smart move to sell their house. While it may not be the best time now, a homeowner may list the house again at a later date.