Real estate agents cold-call from expired listing lists because they find it to be a beneficial use of their time. Which makes me think that their "awesome marketing techniques" aren't quite as effective as cold-calling.
You can break down the marketing process into three stages. The first is pre-listing, which can be a real whirlwind of activity, especially if the agent was involved in staging or preparing the home for sale. But there's the photography, design and copywriting of the brochures, getting the listing broadcast through the internet. All of this activity comes with a high level of excitement and anticipation and no shortage of goodwill between the agent and the client.
Then comes, The Wait. And it is a wait. The ship has sailed, and we're waiting for it to come to port with a buyer in hand. We have activities, but they are truly mostly involvement devices - hold open houses, report back to you every week with showing activity ("There was none this week, LLA."), and, of course, you're paying the mortgage and the staging bill and nothing seems to be happening.
That's the way it is. Until there's an offer, and the agent really goes back to work negotiating on your behalf.
So there's an enticement to getting a new agent - you'll recreate that old magic. And if you take on a new agent, and lower the price, there's a better chance that it will get sold! See! Changing agents worked!
The real test would be to give the listing to a new agent at the SAME price, and if it didn't sell, then give the price drop to the agent who you think did the best job for you.
But, that never happens. Usually, the first agent bakes the cake, sells herself on the value of your property, and a new agent comes in, hammers you on the price until it sells.
That's the back-office view.
All the best,
The market can change a lot in a few months. Perhaps your agent is suggesting a lower price this itme due to current market conditions in your area.
The Fall and Winter are slow seasons in reale state. You will find more buyers in the market during Spring and Summer.
Your agent has a vested ineterest in getting your home sold. Remember he/she does not see one red cent until your home closes escrow.
You should have an open and honest chat with the agent. Make it clear what you expect should you re list with them. Try a shorter listing period this time and make it clear that phone call/emails /text messages must be turned before the close of business on the day they are made/sent. no excuses!!!!
Best of Luck to You,
Kawain Payne, Realtor
If your agent says they are doing a great job, don't be afraid to ask them how. You deserve to know beyond a doubt that your agent is fighting for you! And many of us ARE, and we'll have the answers to back that up!
It's called "accountability"
All the best,
Kieran Jackson, CA DRE # 01903647
Keller Williams Hollywood Hills
Short Sale Specialist (SFR)
I think your feelings are pretty common with home sellers these days. Since any home for sale now, has to compete with other similar homes on the market, your price cannot be significantly higher then other similar homes.
Unfortunately, your competition might be Short-Sales and Foreclosure Homes which are priced very low.
I would not necessarily doubt your current agent. An overpriced listing does not sell...no matter what you do.
The buyers have good agents working for them and they will show the buyers what property is selling for in your area so you simply will not get offers.
The decision to go with another agent is one that only you can make, but I would be prepared to drop your price. Homes that are priced right for this market..do sell..and they sell fast!
Chances are the home didn't sell the first time due to pricing. It could have been marketing or the presentation, but pricing is the most common issue.
Where you concede that the new price has to be lower, see what your first agent suggests. Interview a couple of the other agents to see what they suggest as well, but don't be fooled by someone who suggests too high a price or claims to have a secret to getting your house sold for over market value. Some agents buy a listing but wait for you to lower the price, others promise the moon and do pretty much the same as anyone else.
I can't tell you who to select, the original agent should have kept you updated with current pricing information, but do what makes sense, once you've heard more information. Best of luck.