% Who Relisted For Sale
Definition:
% Who Relisted For Sale equals the number of homes in the defined area (city or zip) that relisted their homes for sale after being on the market for at least a 90 day period. For example, if a home was on the market with an agent for 3 months and then relisted for sale with another agent after not selling it is considered to have been "relisted".
Here's why this is helpful to you...
A positive number (anything above zero) might point to a buyers market as sellers search for the right agent to get their home sold. Often times homes being relisted for sale were overpriced in the initial run or suffered from an inexperienced agent. It can be a good indicator of where the market currently is if a high # (more than 20%)of homes are being relisted for sale.
Real Source Blog
4 Problems of Overpricing
Price Problem #1: Where's the Excitement?The first problem is... it's hard to get sales people excited. And it doesn't make any difference how much marketing you're doing... the problem is the same ... its hard to get sales people excited.You see ... agents generally know what buyers are willing to pay for similar homes in similar areas...
