Re-Listing with a New Agent to Reset Days on Market: Does it Help You Sell?

When selling your home, the number of days your property has been on the market (DOM) can play a significant role in attracting potential buyers. A high DOM can sometimes deter buyers, as they may perceive it as a sign of an overpriced or undesirable property. To counter this, some sellers consider re-listing with a new agent to reset their DOM. But does this strategy really work, and is it the right approach for you? In this article, we'll explore the potential benefits and drawbacks of re-listing with a new agent to reset your DOM, using data from The Agent Index and StreetEasy's policy.

StreetEasy's policy on resetting DOM

According to StreetEasy's policy, in order to refresh a listing's DOM, the previous listing must be off the market for at least 90 consecutive days, and a new listing must be created. This means that if you choose to re-list your property with a new agent, you'll need to take it off the market for a considerable period before the DOM can be reset.

The benefits of resetting DOM:

Resetting your DOM can offer several advantages: 1. Attracting new buyers: A lower DOM can generate fresh interest from potential buyers who may have previously overlooked your property. 2. Creating a sense of urgency: A shorter DOM can convey the impression that your property is in high demand, potentially encouraging buyers to act quickly. 3. Leveraging a new agent's expertise: Re-listing with a new agent can provide a fresh perspective and new marketing strategies to help sell your home.

The potential drawbacks of resetting DOM

Despite its potential benefits, there are some risks and downsides to consider when resetting your DOM: 1. Lost momentum: Taking your property off the market for 90 days to reset the DOM can result in lost momentum and missed opportunities, especially in a fast-paced market. 2. Ineffective strategy: Resetting the DOM may not address the underlying reasons your home hasn't sold, such as pricing or property condition issues. 3. Impact on negotiations: Savvy buyers and their agents may recognize that your property has been re-listed, potentially impacting negotiations.

Analyzing your situation with Agent Index Before deciding to re-list with a new agent, it's crucial to analyze your current agent's performance and the reasons your property hasn't sold. The Agent Index provides valuable data, including closing success rates, average days on market, and average sales price by neighborhood. By reviewing this information, you can make a more informed decision on whether re-listing with a new agent is the right move for your situation. Re-listing your property with a new agent to reset your DOM can be a strategic move in certain circumstances. However, it's essential to carefully consider the potential benefits and drawbacks of this approach and use data from Agent Index to guide your decision. Ultimately, the key to a successful sale lies in addressing the underlying factors that have hindered your home's sale and working with an agent who can effectively market your property and negotiate on your behalf.