The problem is probably not your Realtor. Perhaps, but you should know the market facts first.
A balanced market is considered to be six months of inventory. Right now in the part of the valley I service (eastern portion, east of Van Nuys), there are 517 listings (as of the end of July). Last month we sold 170, giving us a three month supply of listings. Believe it or not, you are in a Seller's market. I am guessing you are first time buyers, and the inventory of properties in the lower price ranges is even less.
So, you need to sit down with your Realtor and ask them to help you. Explain that you want a property to buy. It's their job to help you.
The biggest problem that buyers are having is not enough inventory, so there are multiple offers and the homes sell above asking price, meaning that the appraisals come in below the sales price so the buyers need to bring cash to the closing table to make up the difference. It IS very frustrating and the only way you will be successful is to be consistent and commit to a strategy. Ask your Realtor for their plan.
Please don't fire your Agent!
This is happening all over Los Angeles right now.Most property is getting multiple offers and many at least 30,000 over asking price..to make it harder..there are many investors in this market that are offering ALL CASH.
Expect to look for at least 5 months for property right now. You might consider looking at well priced "regular" sales as opposed to the short-sale and foreclosure market.
I do understand your frustration. However, what you're experiencing is very common. The hottest part of the current market is $300k and under, with some areas that number goes up to as high as $400k. Multiple offers are very common, which makes it neccessary to come in with your best offer right away. While I'm unable to comment as to your agent, I can say that if you truly feel that they are not representing you to your satisfaction then by all means make a change. But if you're judging your agent simply by the fact you have not had an offer accepted then you should slow down and rethink your decision. I have some questions for you. First, what does the rest of your offer look like. Are you asking for a majority of your closing costs to be paid for by the seller? Are you asking for repairs to be made? How much are you offering for your down payment? Are you using FHA financing? These are just some of the questions I have because when you're dealing with short sales and especially bank owned properties the above mentioned items will take your offer off the table if you have included them. I would recommend that you speak with your agent and make sure that you're making the best and strongest offer initally. Do not assume you will get a chance to respond to a counter offer. Good luck and do not lose confidence. You will find a home!
When you do find something have it inspected before signing.
Are you looking for properties online and asking your Realtor to show them or; is your Realtor showing you homes based on your criteria? This question is because the 'Internet" for homes has a delay in certain markets, I have notice 2-3 days in Minnesota, so once you look at the property on line, its been on the market for 3 days. Invite your Realtor do its job. Let him show you properties that could fit your requirements. Your Realtor might have the home for you but has not being allowed to do its thing.
Are you FHA or Conventional? (Sorry, I don't work in your area so I don't know which the most common financing is).
If you need a change, let me know.
KELLER WILLIAMS REALTY
#1 Listing and Selling Agent at Keller Williams