Is it a good idea or not? Well, why not sell with us instead? We can…
Sell your house in 28 days
WRITTEN BY: Tom Condon ★ Digital Content Writer
Is it a good idea or not? Well, why not sell with us instead? We can…
Sell your house in 28 days
WRITTEN BY: Tom Condon ★ Digital Content Writer
Deciding to take your house off the market can be a challenging and emotional decision, especially when it seems like no potential buyers are showing interest. The process of selling a home is not just a financial transaction but an emotional journey that can leave homeowners feeling stressed and frustrated when things don’t go as planned.
When a house sits on the market for an extended period of time without any offers, it can lead to the homeowner feeling exhausted. Luckily, it’s actually relatively easy to take your house off the market, which allows you to readjust or completely overhaul your selling strategy.
Key takeaways:
Selling your home is often an emotionally charged process. When a house lingers on the market without any bites, it can cause you significant stress and frustration.
The emotional toll can include feelings of rejection and disappointment, as each passing day without an offer can make you question the value and appeal of your home. Moreover, the constant need to keep the house in show-ready condition adds to the ongoing stress.
Financially, the costs can be even more severe. The costs of maintaining a property including mortgage payments, property taxes, utilities, and upkeep – continue to mount. For homeowners who have already moved out or who are managing two mortgages, these costs can become overwhelming.
Additionally, if you are looking to buy a new home, the delay in selling the current home can disrupt these plans, potentially leading to missed opportunities or higher costs in the new purchase.
If you are thinking about switching your estate agent, using a modern estate agent like The Property Selling Company can help streamline your house selling process. Making it easier to attract buyers quickly through our digital marketing and broader online visibility, reducing the emotional and financial toll of a prolonged sale.
We can help you sell, no matter the market
Deciding to take your house off the market is entirely within your rights and can be fairly easy. If you change your mind about selling, or if you want to reassess your marketing strategy, as long as you do it before any contracts are exchanged, you can withdraw your house from the market without significant consequences.
Your estate agent or solicitor might express dissatisfaction or charge a withdrawal fee, but this is usually the extent of their recourse.
Although potential buyers may be disappointed, they have no legal grounds for complaint if contracts have not been exchanged. This flexibility can be particularly beneficial if you need to reassess your selling strategy, address any issues with your house, or wait for more favourable market conditions.
If, when you take your house off the market, you decide to switch agents, using a modern online estate agent can further simplify this process. These estate agents often provide greater flexibility for listing and delisting your home, allowing you to manage your sale with less hassle and more control.
Additionally, if you sold your house with The Property Selling Company, you would face no legal or marketing fees, as we cover these for you. So although you may have fees from your last estate agents, you won’t face any when you sell your house with us.
Taking your house off the market is generally fairly straightforward, but it’s important that you communicate effectively with your estate agent and fulfil any contractual obligations. Here is a step by step guide on how to take your house off the market:
Carefully review your contract with your estate agent to understand any terms and conditions related to withdrawing your property from the market. Look for clauses about fixed contract periods, withdrawal fees, or notice periods.
Determine if there are any obligations or penalties for taking your house off the market early. This could include early termination fees or non-refundable marketing costs.
You will need to provide a written notice to your estate agent, informing them of your decision to take your house off the market. This can be done via email or a formal letter.
It can be helpful to explain your reasons for withdrawing your property, whether it’s due to market conditions, personal circumstances, or dissatisfaction with the estate agent’s performance.
Ask your estate agent to clarify any fees associated with taking your house off the market.
Ensure you understand the total cost and any additional charges that may apply.
In some cases, you might be able to negotiate a reduction in withdrawal fees, especially if you plan to relist with the same estate agent in the future.
Ensure that all online listings of your property are removed. This includes property portals like Rightmove and Zoopla, the estate agent’s website, any online email marketing lists, and any other platforms where your house is advertised.
Double-check that your house has been removed from all listings to avoid confusion or continued inquiries from potential buyers.
If there are any interested buyers who have viewed your property or made inquiries, inform them through your estate agent that the property is no longer on the market.
Providing a brief reason for the withdrawal can help maintain a positive relationship with potential buyers for future opportunities.
Take the time to reassess market conditions and determine the best time to relist your house if you plan to sell in the future. Consider making any necessary repairs or updates to your house to increase its marketability when you decide to relist.
If you were dissatisfied with your previous estate agent, consider consulting with other professionals, like The Property Selling Company, to find one that better suits your needs.
Modern estate agents provide more flexibility and transparent contract terms, often with lower withdrawal fees, making it less costly to take your house off the market. However, with The Property Selling Company, you likely won’t need to worry about withdrawing your listing, as we can help your house sell in as little as 28 days.
Sell your house in as little as 28 days, for free
If your home isn’t selling, taking your house off the market is an option, but it should not be a decision made lightly. There are a few situations where this might be beneficial:
If your home has been on the market for over three months with little to no interest, it might be time to rethink your listing. Prospective buyers may think something is wrong with the property, making it less likely to achieve the full asking price. Removing your house and re-listing it at a later date might actually help your sale.
A modern estate agent like The Property Selling Company can provide you with real-time market analytics and data-driven insights, helping you re-list your home at the best time to attract serious buyers quickly.
If buyers have been concerned by major structural work, you have two main options; reduce the price substantially or complete the work yourself. Structural issues are common reasons for house sales falling through, so taking your house off the market to address these issues could be wise.
Here at The Property Sourcing Company, we have a multitude of pre-vetted buyers, some of which are cash buyers and investors looking to renovate homes themselves. This means that you could sell the house “as-is”, without having to renovate yourself.
If your house sale is stagnating, it might be sensible to adjust your asking price. Most enquiries and viewings take place in the first few weeks of a listing, so starting with a realistic asking price is key. Compare with similar listings in your neighbourhood and consult with your estate agent on the appropriate price for your property.
With advanced pricing tools and a team of underwriting experts, our estate agents can help you set a competitive and attractive price right from the start, increasing the chances of a quicker sale.
If you’re unhappy with your estate agent due to poor listings, communication or professionalism, it might be time to search for new representation. Make sure you have discussed your concerns with your estate agent first, but if issues persist, switching estate agents could be beneficial.
Because we are part of one of the UK’s leading house selling solutions, we put great pride into dealing with our customers, which is why you should experience better communication, and easier processes.
If there are more homes on the market than interested buyers, you could be in a buyer’s market. It might be worth pausing your sale and relisting when conditions are more favourable. Pay attention to larger market factors, as these can significantly impact the amount of property transactions completed.
If your house is not comparable to others at a similar price point, you may need to update important areas like the kitchen or bathroom. Taking your house off the market can give you the time and space to make improvements. Consult with your estate agent about feedback from viewings and what buyers are looking for in your area.
Alternatively, you can sell your home as-is through our database of pre-vetted buyers who can buy your house with cash, bridge finance or pre-approved mortgages, in much faster timelines than traditional buyers.
Market conditions can significantly influence the decision to take your house off the market. One important factor is whether you are in a buyer’s or seller’s market. In a buyer’s market, there are more homes available for sale than there are buyers. This oversupply can lead to longer listing times and lower offers, making it wise to consider taking your house off the market and waiting for conditions to improve.
Conversely, in a seller’s market, where there are more buyers than available homes, prices can be driven up, and the time your house stays on the market can be reduced. If you initially listed your home in a less favourable market, waiting for a shift to a seller’s market might yield better results.
Economic conditions also play a significant role. During a recession, potential buyers may be more hesitant to purchase homes due to economic uncertainty, leading to slower sales. On the other hand, in a booming economy, there might be more buyers with the financial means to purchase a home, increasing demand.
Similarly, changes in interest rates can affect buyer affordability. Higher interest rates can lead to higher mortgage payments, reducing the number of qualified buyers, while lower interest rates can increase buyer affordability and demand, potentially making it a better time to list your home.
Because our estate agents have access to real time data on market trends and economic conditions, we can help your house sell, no matter the time of year. We have a multitude of selling options available, some of which can help you sell your house in as little as 7 days. If you want to find out more, get in touch with us!
When you take your house off the market, you may temporarily lose buyer visibility but this allows you to regroup and strengthen your market perception. By taking a break, you can address any issues and make necessary improvements. When you relist your home later, you can do so with renewed commitment and a stronger, more attracting listing:
Removing your house from the market can provide immediate relief from the stress and pressure of trying to sell. You no longer have to keep your home in show-ready condition or accommodate viewings.
This pause allows you to step back and assess your selling strategy, while giving you the opportunity to analyse why your home hasn’t sold and what changes may be necessary.
Taking your home off the market for a period can help reset its market perception. When you eventually relist, it can appear as a fresh listing to potential buyers, free from the stigma of a property that has been on the market too long.
The longer your home remains unsold, the more financial obligations you continue to bear, including mortgage payments, property taxes, insurance and maintenance costs. Holding onto the property longer can strain your finances, especially if you have already moved into a new home or are carrying two mortgages.
Market conditions might improve over time. By waiting, you might be able to sell in a more favourable market, potentially securing a better price and faster sale.
Use the time to invest in necessary repairs and upgrades that can increase your home’s property value. This may lead to a higher selling price and more interest when you relist.
When you sign a contract with an estate agent to sell your home, it’s important to understand the terms related to taking your house off the market. These contracts usually include clauses that outline the obligations of both the seller and the estate agent. Some top points to consider include:
Many estate agents will have a fixed contract period during which they have exclusive rights to market your property. This period can vary but it is usually between 8 and 16 weeks. During this time, taking your house off the market may be restricted or you may incur fees.
If you decide to take your house off the market before the fixed contract period ends, you may be required to pay an early termination fee. This fee compensated the estate agent for the time and resources spent marketing your home.
Some contracts give the estate agent the exclusive selling rights, meaning that even if you find a buyer independently, you still owe the estate agent their commission. This clause often impacts whether you can take the property off the market without penalties.
Contracts often specify a notice period (e.g. two weeks) required to terminate the agreement. During this notice period, you are obligated to continue marketing the property with the estate agent.
Some estate agents charge upfront fees for marketing your property, like professional photography, online listings, and brochures. If you withdraw your house from the market, you may not be refunded these costs.
If your contract includes a clause for exclusive selling rights, you might still owe the estate agent their commission if you take the property off the market and then sell it privately within a certain period.
If you’ve decided to take your house off the market because it isn’t selling, you still have several options to explore, from renting out the property, to increasing its marketability and switching estate agents, or even house selling method.
Renting out your home can provide a steady income stream while you wait for market conditions to improve. This approach can help you cover mortgage payments, property taxes and maintenance costs, reducing your financial strain.
But, becoming a landlord comes with responsibilities, such as maintaining tenants, maintaining a property, and complying with rental laws. You may also want to consider hiring a letting’s company to handle these tasks if you prefer a hands-off approach.
By addressing structural issues, updating rooms like kitchens and bathrooms, and enhancing curb appeal, you can make your house feel more attractive to buyers. High-quality renovations can also justify a higher asking price.
Before undertaking major renovations or upgrades, you will need to assess the costs and ensure they are financially viable. Focus on improvements that offer the highest return on investment, and try not splash unnecessary cash.
Relisting your house when market conditions are more favourable can increase the likelihood for a quick sale at a better price. For example, Spring and early Summer are typical peak seasons for housing, with more active buyers.
When you do relist the property, it can appear as a new listing, attracting fresh interest from buyers. Updating your listing with new, high-quality photos and a compelling description can make a significant difference.
Sometimes, a fresh perspective from a different estate agent can make a significant difference. A new estate agent might have different marketing strategies, a broader network or a better understanding of current market trends.
Before switching estate agents, review your current contract to understand any termination fees or obligations. Research new estate agents thoroughly, looking for those with a strong track record in your area.
If traditional estate agents haven’t worked, consider alternative selling methods. These include selling to cash house buyers or through house auctions.
Cash house buyers can offer a quick and hassle-free sale often completing the purchase within a few weeks. This can be ideal if you need to sell urgently or want to avoid the lengthy process of a traditional sale.
Cash offers are usually lower than market value, as buyers factor in the speed and convenience of the transaction. Ensure you deal with reputable companies to avoid scams.
Selling your house at an auction on the other hand can be a fast and transparent process. Auctions attract serious buyers who are ready to buy quickly, and there’s often a sense of urgency that can drive up the price.
There is a risk that your house might sell for less than expected. Auction fees can also be higher compared to traditional sales methods. Make sure to set a reserve price to avoid underselling your home.
Taking your house off the market doesn’t mean the end of your selling journey. Instead, it provides an opportunity to reassess and implement strategies that can enhance your chances of a successful sale in the future.
What are you waiting for? Sell the easy way…
© 2022 The Property Selling Company
0800 111 4118
Email Us
4 Deighton Close, Wetherby, LS22 7GZ
© 2022 The Property Selling Company
The Property Selling Company is part of The Property Buying Company Limited (Registration No. 08023018) is incorporated in England and Wales. Registered office: 4 Deighton Cl, Wetherby LS22 7GZ
