Ask how and where the Realtor is marketing your property.
Are the offers through other Realtors or only your agent (red flag). Offers should come from everywhere or you are not being marketed properly.
if a buyer is to secure a mortgage, the property MUST appraise. You cannot get $20,000 more than similar apartments in your building ... recently.
If similar properties have sold significantly higher, something is wrong with the marketing.
It is not a slow market, in fact I have many buyers looking for property and I don't have enough inventory. You need a good, experienced Realtor to re evaluate your situation and get you place sold ASAP. Feel free to call me anytime... Advice is free.
Keller Willams Real Estate
Direct: (212) 300-3919
When I sit down with a seller we talk honestly about the market, what's on the market, how their home compares to what is pending and what has sold. How long those homes are taking to sell and what they sell for. Then we determine the Seller's expectations of the listing agent, their timeline, goals, and motivation, a day of week to communicate and review any changes in the market, and have a game plan in place to reposition the home in the market.
Pricing is a big part of marketing. If you received two offers around the same price, I would say that the market is dictating the value of your home. If your home is overpriced, no amount of marketing is going to get the buyer to pay more than a comparable property.
There are many factors which determine a buyer's desire to offer on your property. Is it easy to see? Does it show well? Is the location desirable? Has it been upgraded? Can it be financed? To name a few. In rare cases agents from outside of the area may not have it listed on the right MLS. Other than that, it sounds like you are over priced.
Obviously there is something not right with the scenario you have described, but what is will take some looking at. But any agent that takes a listing in your price range and does not confidently think they can sell it within three months should not have taken the listing in the first place. The commission is not large enough to pay for three months marketing!
Call another agent , hopefully someone that specializes in your neighborhood and knows your building, for a second opinion. Ask your management company if they are aware of any detriments to the marketing of your building: IE not enough owner occupants or perhaps a few foreclosures in the past year? Crime?
It may just be that your agent has grown tired of it and does not have time for it....get a second opinion.
Kathryn Lilly, Broker
Realty on the Greene, LLC
P.S I do not Know the buildings in Sheepshead Bay well enough to help you.
I hope I am not your listing agent but if I am... I am sorry that things have not gone perfectly but it is not my fault... your price is to high!
All kidding aside, the issues that you are describing usually are more about the price as opposed to a lack of effort on the part of your agent. Co-ops often times can be hard to sell for many reasons such as the monthly maintenance being too high, the flip tax being too high or the building not being maintained that well. We would need more details and to actually see your co-op in order to give you some real input.
For now I say have trust and faith in your agent and communicate to him or her very "matter of factly" about how you feel and figure out the best course(s) of action to take together. If I can be of further assistance, please contact me direct. Good luck!
Mitchell S. Feldman
Associate Broker/ Director of Sales
Madison Estates & Properties, Inc.
Office: (718) 645-1665/ Cell: (917) 805-0783
Pricing the home at or below the $150,000 mark would get a lot more eyes looking at your place.
Ask how they are marketing the property besides the Open Houses.
Price is usually the issue when there are few and/or low offers, but condition of the apartment or building (financial and otherwise), marketing and the experience/availability of the agent can also be problematic.
With regards to your unhappiness with the lack of communication from your agent, weekly updates should be sufficient, whether or not anything is going on, you have a right to know. Maybe your agent doesn't want to sell your unit anymore...ask. You can be released from your current agreement.
When your current arrangement ends, and you are in the market for someone new and experienced with co-ops in the area, give me a call.
Janine Acquafredda, Associate Broker
FACEBOOK: Brooklyn Properties For Sale
difficult to sell for a number of reasons. The issue with your agent you must address with your agent.
Just keep in mind that when it expires hire a new one. good luck