During slow economic times like we have today, what can I expect from my realtor?

Minny
Home Buyer
75062

My home has been on the market for 4 months. My realtor does not seem to be all that motivated to hold open houses and advertising has been limited.

Answers (8)
Best answer: Keith Sorem
First to answer: Joanne Lafle…
Anna Brocco
Broker
Williston Park, NY

I'm sorry to hear you are having a bad experience. Based on recent sales in your area are you overpriced and have you discussed this issue with your Realtor, if you are consider an immediate price drop. Did he/she run any open houses and did you have a lot of traffic, if not a strong indicator it's the price. Also, are you using a full service broker or low budget? If working with a low budget, he/she may not have the funds to do the proper marketing on your behalf, and obviously without traffic he/she has nothing to report to you.

Anna

Wed Jun 24 2009, 17:01
Dominick Dina,...
Broker
San Antonio, TX

Minny,

Sorry to hear you are not happy with my fellow professional real estate agent. As I tell my clients, not all agents are created equal. On the other hand, are you haviing great expectations?

First, look at your representation contract and see what you both agreed to. Is (s)he living up to the contract?

Second, only 1% of open houses produce a viable buyer. So when my clients tell me that is what they want, my answer is OK, good for me and probably not for you. I get to meet potential clients and they have a group folks walking through, dirty up the carpets and eat whatever is offered.

Advertising is expensive, especially print media. Some agents will lower their commission if print advertisement is not part of the deal.

Internet marketing is where it is at today. Are you sure your agent is not doing their marking on the internet?? Type in your address on a Google search and see what comes up. Most potential buyers (80% +) start on the internet.

Please talk with your agent. Just like a marriage, lack of commmunication causes a host of issues.

Hope this helps.

Good luck!!

Dominick Dina, Broker/Owner

Wed Jun 24 2009, 16:49
Keith Sorem
Agent
Glendale, CA
BEST ANSWER

Minny
Unmet expectations are the single biggest problem that clients have with professionals, whether Realtors or dentists.
What did you two agree was the plan? What was supposed to happen? If it did not happen what was the response?

I always sit down with my clients and we map out a plan together. We work as a team, and the most important part of being on a team is communicating. This is what I would expect from my Realtor if I were you:

1. Weekly report of showing feedback from showings.

2. Weekly market report of what is going on in the market:
New listings on the market
Price changes
Listings that enter escrow
Listing that sell
Listings that expire.

3. When the listing period first starts I explain to the seller that in order to get the most money for their home we need to have showing activity during the first two weeks. (10-12 showings, one or two of which should be repeats, or one offer).
4. We know that 90% of the time the buyer sees the property for the first time with an agent, so if agents who know market value the best, do not show the property, then we have a value problem.
5. By evaluating the homes that ARE selling, we know that buyers have not been on vacation for the past four months. Buyers have been selecting other homes that have the most value.
6, Have your Realtor select the top five or six competitors for your property and you go see them. Compare that they offer. If they enter escrow before yours, then you have a problem. The easiest way to increase value is to lower the price.

Wed Jun 24 2009, 16:01
Gary Ytreeide
Agent
Rockport, TX

You can expect and have a right to truthfulness from your real estate agent. If you are a client, you can also expect advice and outstanding service. One thing I would suggest to you, the market dictates what you will get for your home, not the agent. The agent will/should provide you with a market analysis of your competition which are active listings, and what has sold in the last 6 months to help determine what your asking price should be.
One final thing - it doesn't matter what type of market it is - your expectations of your realtor do not change, just don't expect miracles.

Web Reference: http://www.theYteam.com
Wed Jun 24 2009, 12:33
Jose E Garza
Agent
Austin, TX

Minny,
Situation is sad, but we all have to realize our market, as most markets nationwide, is suffering a huge downsize. Although open houses and advertisement have always been our most favored tools to fast sell a property, today, elements such as price, improvements and location are the key factors to move a home.
Sit with your REALTOR and look at all pros and cons.
Finally, to give you an idea about the average time a house sits on our market before it sells, refer to the Real Estate Center, Texas A&M. Their last study for the month of May says: 9.7 months.

Jose E Garza
REALTOR®

Wed Jun 24 2009, 11:35
Tony Tam
Agent
95482

You can expect your realtor be truthful. You can not make anyone buy with the price you asked, you can only sale your house the price you can afforded. The good thing is sale may not be your only choice. Have your realtor sit down with you, go over the situation, than make your decision. Tony Tam.

Wed Jun 24 2009, 07:46
Helen L. Jaquith...
Agent
Sarasota, FL

There is nothing your Realtor can do unless the property is agressively priced. No advertising, open houses, etc. will work if the price is not correct. In today's market buyers are only looking for a great buy. Have your Realtor do another market analysis, look at your competition and price your home below the lowest priced home - this will help obtain an offer. If you can't get an offer you obviously won't sell. We are in a price war and a beauty contest. So along with the lowest price your home must be in prestine condition. Paint is cheap so make sure everything looks good. No clutter. Remove any and everything you can - box it up and get it out of the house. Make sure your entry is beautiful. When Realtors bring buyers to your house that's the first place they stop to open the door. It must look prestine. Have some fresh flowers out there. Your house has to be the best house out there right now in order to sell. I've been doing this 23 years and have seen almost every market there is. Price determines all markets, but especially now when there is SO MUCH supply and so very litle demand. Helen Jaquith RE/MAX Advantage 941 726-3076

Wed Jun 24 2009, 06:57
Joanne Lafleur
Agent
Fort Myers Beach, FL
FIRST ANSWER

In today's market realtors work very hard for their clients. Ask your realtor to sit down with you and show you the latest comps for what have sold in your area, You may be surprised. You may have to price your house according to the market. Also, is your house staged for showing. You are in competition with many houses on the market and your house needs to appeal to the eye. Talk to your realtor.

Good Luck,
Joanne LaFleur
Gulf Coast Realty Network,Inc

Wed Jun 24 2009, 06:56

Didn’t find what you were looking for? Ask a question!

Search Advice

Ask a question

Got a real estate question? Get answers from locals, experts and real estate pros.
Ask
Email me when…

Learn more

View all » 1 - 3 of 138
Copyright © 2009 Trulia, Inc. All rights reserved.   |   Fair Housing and Equal Opportunity
Help us improve our service—send us feedback