His commission is not the problem. . . He is offering a very competitive split, I've looked up his house on the MLS....... it has to do with other issues, but you'd need to know the subdivision, city, future land growth issues, and what is going on with the school system, etc to know why it hasn't sold.

"Experience isn't expensive.... it's priceless"

Dee,

I live in Ocoee, was born here, and have helped people move here since 1979. I know exactly where you live, what your problems are, and why your house hasn't sold.

I will not discuss them on this forum however,
but if you'd like to email me and set up a time to talk, I'll be happy to help you and your agent.

btw - you should not mention company names especially if this agent is your friend.... That was info that wasn't necessary, and your agent (whom I know) might just as well be on this forum too.... and get his feelings hurt. Be a little more vague in the future ;-)

Anyway, I'll give you my almost 30 yrs of .02 from being a native and working primarily in Ocoee if you'd like to hear it and I'd be happy to chat with your agent friend as well. There are some things you both need to know about your subdivision that you might not be aware of, and your agent may not either. You need to hear what you need to know to move down the road.

btw, you have a terrific flag lot!! That's a big plus!!



Let me make this perfectly clear, I am not trying to steal you away from your friend, and it is against the Realtor Code of ethics, and I don't work that way, but maybe he doesn't know what I know, and that can help you get the house sold.

Dee:

I am with a Coldwell Banker Ackley in Kissimmee, and as of last week we were the agency with the most transactions for the year in Osceola County. However, about half of our sale are comming from our foreclosures department. The market it still very soft for sellers, and the buyers that are beginning to come out are those looking for a extremely below market value homes.

Something else that has happened is that with the new mortgage restrictions, including MI (mortgage insurance) refucing to participate in 100% loans, some people are having a difficult time finding funding.

However, you are doing things correct by:
A - Keeping the place clean and neat, remove unnecesary furniture to the garage (makes the home looks bigger), remove clutter and personal ornaments.
B - Price 5% below comparable market value.... make sure you get into every buyers listings showing route.
C - Make sure your commission is at a minimum 6%, 8% usually creates lots of traffic (shwings), remember that showings discover buyers.
D - Continue working with a well known RE company, CB have a 96% name recognition which is among the highest in the business.

Remeber your ultimate goal is to buy the property you want, that is the priority... so do what it takes to get this one sold... once you move to the new one happiness will take over any hard feelings regarding letting this one go. Plus you will be buying at a great price.
Hope this helps a little

To echo the other answers, houses sell houses, and price is paramount!! If a home is competively priced, it tends to sell. The old laws of supply and demand hold true--the higher the supply side, the lower the price, and the higher the demand is with lower supply, the price goes up. If you got the realtor to agree to a 3% commission, that means that 1.5% is going to the buying side realtor and 1.5% is going to the selling side realtor. Many realtors won't even bother working for that--the realtor will end up with maybe half of that 1.5%--do the math--will many realtors spend their time showing an overpriced house that might net them .75% commission--a lot of work for not much pay. Your realtor friend is truly being a friend by trying to help you out in a very difficult market. Work with them--they probably do have your best interests at heart--and listen to their suggestions instead of beating your friend up over a perceived lack of service.

As was already mentioned, there are over 25,000 homes on the market currently in Central Florida and only around 1000 are selling each month. This means you have to be in the best condition (which it sounds as you are) and be priced aggressively. The few showings tell me that you're overpriced, and if that is the case, you'll want to work with your Realtor to get the price adjusted quickly or it will mean even bigger price adjustments a couple more months from now.

Hi Dee,
The number one reason why there is little activity on a home that is for sale is the price. There can be other factors, slow market, location, curb appeal, etc. etc. but the reality is the very first factor a buyer considers is the home's price.
Without knowing the specifics of your situation it is unfair to generalize but if you are looking for more activity...and you sould be because homes thea are seen are sold, it would probably be worth your while to consider lowering the asking price.

Best of luck,
The "Eckler Team
Century 21 Almar and Associates
Venice, Fl 34285
ecklerteam@comcast.net
941-408-5363

Dee,

It sound’s like your friend/Realtor didn’t mention that you are living in a state that ranks in the top 10 worst estate markets. According to RealtyTrac.com, in your specific zip code, there are 521 homes in pre-foreclosure, 143 bank-owned properties, and 53 are up for auction. Also, there's over 430 houses currently for sale in your zip code; 266 are priced from $250,000 - $550,000. You have a lot of competition, there’s a lot of houses for sale and very few "qualified buyers" in the market.

Open houses don't sell houses, other Realtors do. But in your specific market, you may find that you have to price your home 5%-10% below market values in order to sell it faster. It sounds like you did the right things by placing your house in top shape first, but people are not going to be busting down your door to see your home – especially with over 200 other houses up for sale as well.

Are you priced below market value, or are you trying to sell AT market value. I would hope that before your friend/Realtor listed your home, he provided you with a snapshot of your local market; what comparable properties have sold for AND how long it took those houses to sell. Did he do this for you? If not, get him to sit down with you and go over that very important information.

Contacting other agents yourself is a waste of time – you cannot market your home to more than the millions of prospective buyers a Realtor can. I understand your frustration but it sounds like you are starting to panic – and only within 60 days of it hitting the market? I might surmise it’s over priced but again, have your agent show you just how long it took for other similar houses to sell, and what those homes sold for. I think that will help ease your concerns.

Frank Biganski, Realtor ABR
Licensed in Virginia
Formerly licensed in Florida

The market has been slow but if its priced to sell you will get a buyer. If you have a large debt you may consult your bank to see if they would allow a short sale. If you want you can email me at: loriannmertens@yahoo.com

There are Sellers who insist in paying very low commissions to sell their homes and when they get no traffic, they lower the price in the mistaken belief that the lower price will attract Buyers. Buyers who work with Realtors to insure that they get the best property for their money, will be shown the properties that meet the Buyer's needs and pay the higher commissions.

If you want a professional job, you will not get it paying minimum wages. It takes money and effort to market a property in toda's market. Properties are plentiful and Buyers are in short supply, which means that sellers are competing for Buyers; All other things being equal, a higher commission property will be shown more times than a lower priced property.