When you relist your home after taking it off the market does it show as a new listing?

Question

In other words, we just took our home off the market after about 6 months. We had one sale fall through after the buyer backed out. We want to take it off the market and relist it in the spring after we've made some upgrades. When its relisted will buyers see it as a new listing or a "back on the market listing". Also is information about the previous sale made available to buyers? If we decide to relist it with a different broker do we have to tell them about the previous pending sale? Thanks for your serious input!

Answer 1

It will show up as a NEW LISTING.

I would recommend that you tell your NEW REALTOR about
the previous activity on your house ... This will be helpful to
YOU. Here's why ... If you decide to use a different Realtor
you would want to let the new one know the things that you
DID and the things that you DID NOT like about the service
you previously received. Also, you would want your new
Realtor to know about the type of activity that you had in
the past ... Again that will help the new Realtor to service you
better. For example ... Few or (NO showing at ALL) means
that the market was telling YOU that something was wrong.
Usually it is either the price, the way the property shows, or
the location. Again, having information on previous activity
will help the new Realtor service you better.

Finally ... as Realtors .... if we give GOOD SERVICE ... We
really appreciate loyalty and repeat business. Unless you
were dissatisfied with your previous Realtor ... I would
suggest giving that person the opportunity to (at least)
tell you what they would do differently in the Spring. Remember ... that the Spring is an ideal time to list or re-list
a property. And also; the upgrades that you have planned
will greatly increase the "showability" of the property. So
those two factors (right there) will give YOU and whatever
Realtor you choose ... an improved chance to SELL!

Best wishes!

Answer 2

Well here it goes tough love but you've probably heard this already: If the property does not sale or get offers you need to revisit the listing price. Are you the lowest in the neighborhood? (This will help get you showings, not necessarily a sale but showings) Are you the nicest?( be honest). PRICE AND PRESENTATION WILL SELL YOUR HOME. Are you the BEST home at the BEST Price? That's what's currently selling.. the cream of the crop. If you have a magic number that you need to get to and you haven't had any takers then right now is probably not the time for you to COMPETE in this market. Buyers have soo many choices if they see similiar homes they like they will ALWAYS go with the one that is priced LOWERED. You have three options at this point: 1) Lower your price until it sells but do meaningful reductions not just couple thousand (-$10k, -$25k). Price over comes ANY obstacle. 2). Don't move, stay there until the market gets better keeping in mind that where ever you go their market will be improving as well and may be less affordable. 3). RENT it out. This is what the majority of my sellers including myself are doing. Why sell now if you can get more later? Destructive tenants? Possibly, but try to pick out the best ones. Since you don't want to rent it out, then sell it! Forget about the down payment. No matter what you buy you will be getting a BETTER price than had you gotten it 2 yrs ago and if you are buying up and do the math you will be coming out ahead. Buy something you can afford without the downpayment. When you sell your other place a few years from now, refinance the new house and then you'll owe a lot less then expected. You already know the answer to your question... something is going to have to give.

Answer 3

In the Northern Illinois MLS, after "resting" your house for 3 months, it shows up as a new listing. So see what your local MLS does--your current realtor can tell you. If there is not a 90 day gap, no time when it's not on the market, then they can easily see your home's past history, past listing price, etc. Not sure how much information they can get about the sale that fell through. Don't see what you have to lose by telling new realtor about old realtor, but no you don't have to do it. But IF the realtor is really curious, they can do a more detailed search and will get info on prior listing--it won't be there with listing, but with digging they can find it. Your realtor is a Seller's agent and shouldn't tell other realtor or buyer anything to detriment of your sale of house. It depends on whether buyers have buyer's agent and whether they do any extensive searching, what they find and what they tell them. We're considering doing the same thing. Seems buyers demand a MBR with MBA these days--won't share with their own kids.

Answer 4

It will show up as a new listing. No nothing about the previous sale will be made available. It fell thru so there is nothing for anyone to see or know about. No you don't have to tell the new agent about the previous sale, chances are they might know about it, or if they ask go ahead and tell them, they'll ask you a lot of questions so chances are it'll come up in conversation. The fact that a contract fell thru is nothing to hide or be ashamed of. Unless there is a serious structural defect in your house that didn't show up until the home inspection then yes you need to disclose that right away, however, if the buyer couldn't get financing or they just decided to back out then I wouldn't sweat it.

I had a contract on my house and it fell thru 20 days before closing because the buyer couldn't get the financing, the next day my house went on the MLS and that day I had 12 visits and 6 offers. No one needed to know that another contract on my house fell thru it happens.

Answer 5

Usually it will show as a new listing, however most MLS systems have a "history" which will show all the activity on your property, even if it was listed with a different agent.