There was a time in many hot markets across the U.S.--Miami, San Francisco, Chicago and more--that you could put your house on the market and be guaranteed a sale within 30 days, if not that same day or week.

Now, with the overall stagnation of real estate markets across the United States, many real estate sellers are toeing the ground. Some are finding after they list their house, they can't even manage to make it out of the starting gate. 

What's a seller to do? This is the very question that was asked by a homeowner on Trulia Voices seeking local real estate advice.

"When is it time to take my property off the market if it doesnt sell? 1/2/3 month, 6 months, 1 year? Luckily I am in a situation where I can manage for a few more years without having to sell my property."

Here are the answers, paraphrased in random order, from the real estate agents who responded to this question on Trulia Voices:

"This really isn't the time to be 'testing' the market if you don't HAVE to sell. Prices are depressed--even in neighborhoods like San Jose--as you are probably competing against sellers who have to get their homes sold. If you aren't competetively priced--I would say take your home off the market if you aren't getting more than 1 showing a week."

"...priced right, any property will sell. It's a matter of, in many cases, bringing yourself to sell it for less than you paid for it."

"You do not sound as though you believe you need to sell. In this market my suggestion is that if you are not serious about selling, then you might want to re-evaluate why you are putting your home on the market at all"

"Since there are so many properties available for sale, allow yourself at least 6 months. If you have a good Realtor who knows how to market and price your property properly, you should start seeing traffic and hopefully get your home sold soon."

"Is your home listed by a Realtor? What is the expiration date on the listing contract? Let your local agent help you with the decision."

As you can see, these responses run the gamut. Some of the agents advise the homeowner to wait and relist, while others advise the homeowner to adjust the listing price to be "priced right to sell" and to let the property remain on the real estate market for up to six months. 

These might seem like mixed signals to the homeowner trying to sell. The real estate seller who asked the question is from San Jose, California, and the agents who answered are from California, Florida and Texas. It would be difficult to go off any answer based on a market that is outside of the agent's local real estate expertise.

If you are looking for advice on your local real estate market, make sure you contact a local real estate agent. Reading the general industry news is an overall picture of a very wide terrain. All real estate is local. You need to discuss your personal situation with an expert who knows what your market is doing. Make sure to give your real estate agent all the facts, your concerns and your goals. 

Then make a sound decision supported by local advice.

If you enjoyed this post, you might want to read:

• 5 steps to a successful open house
• The 5 rights of a real estate seller
• How to sell your house and keep your sanity

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Posted by Rebecca D. Levinson

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