Home Selling in 02188>Question Details

Quy Dong, Home Owner in Weymouth, MA

I put my house on market for 6 months,but not thing . Should I change my agent ? How to find a good agent ? I want to sell my house fast .

Asked by Quy Dong, Weymouth, MA Sat Nov 27, 2010

My bussiness is bad. Now, I unable to find a job .My morgate is late for three months and my debt is built up. I put my my house on market for 6 month,but unable to sell - not a single offer -. Are there any good pro agent real estate to help me selling home in a short time . I don't want to forceclosure.

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23
Rick Tourgee’s answer
Good morning Quy! Before considering other Agents and/or Brokers, have a meeting with your current Agent to discuss the marketing plan that was employed in the last 6 months to determine what part of the plan generated the most interest. At the same time, ask your Agent about the feedback he/she received from the showings. It is also a perfect time to review the current price and determine what level the price needs to listed at in order to sell fast, as you stated in your question. If you can combine the marketing efforts which generated the most interest along with a new lower list price as recommended by your Agent based on your goals and I am sure you will see different results.
2 votes Thank Flag Link Sat Nov 27, 2010
BEST ANSWER
Find out who has the market share in your area and list with that company. Your home could be over priced too, but either way it is time for list with the top broker in your area.
1 vote Thank Flag Link Sat Nov 27, 2010
Quy: I am not sure how old you are, but if you are over 62, look into a reverse mortgage if you have equity in your home. Also, make sure that you have utilized the Making Home Affordable Government site: http://www.makinghomeaffordable.gov/get-assistance/explore-e…

A Short Sale is a must, since you have fallen behind. Contact your bank to see what they can do for you and keep in constant contact with your bank.

Contact one of the banks that are associated with MassHousing. They may be able to refinance the mortgage with better terms. Here is the site: https://www.masshousing.com/portal/server.pt?open=514&ob…

Lastly, keep an eye on the Federal Government. They are working on providing homeowners a form of payment at some point. Since you are in Weymouth, contact Quincy Community Action to see if they know when the funds will be available to those behind on their payments.

All the best to you!

Joe Cawley
Broker Owner
Cawley Realty Group
617-877-0945/781-974-9189
Web Reference: http://www.pipre.com
1 vote Thank Flag Link Sat Mar 26, 2011
Hi Quy, I suggest that you immediately talk to your current agent - be sure you understand the term of your current listing arrangement because terminating it prior to its expiry can be tricky - you'll need their full support with an unconditional release in order to move on to another firm/agent without running the risk of paying two commissions - the last thing you need, added expense.

In this market, the driver is price, but there are many other considerations, and central among them is agent effort. I think it always makes sense to evaluate options and change and so if you are free to do so, by all means evaluate your options, and include your current agent in the mix. If you do decide to engage him for another term, it will be because you have carefully considered your options.

A prior poster mentioned the presentation of your home, ie how it "shows" online and in person. If you can make improvements through light staging (and much of this you can do without spending a penny - like clutter removal, cleaning, lights on during showings....) do it. If your online listing is not attractive and full (comments, details) and/or photos few or of poor quality, have your agent change and improve the listing immediately.

I would add this - if in fact your listing is poorly presented, this is a deficiency on the part of your agent. Part of our job is to do this right and present a property in its best light - consumers like photos - quality and quantity, in fact gravitate to listings with more photos. In fact, on Realtor.com you can actually specify phot count as a search criteria. This is but one example, but it makes the point.

Given your situation, I would also suggest that you work with an agent that has come expereince with short sales just in case you go down that path. And I agree that it makes sense to consider the possibility and be prepared. Because at the end of the day, your home will not sell unless you price it correctly - period. The best agent, the most robust marketing plan, will not sell an overpriced home.

Good luck to you,
Jeanne Feenick
Unwavering Commitment to Serivce
Web Reference: http://www.feenick.com
1 vote Thank Flag Link Tue Nov 30, 2010
Consider a discussion with your agent and review comps--recently sold similar properties in the immediate area--if the price needs adjusting, adjust accordingly in order to be competitive; also review marketing, does it maximize your exposure, if not adjust accordingly; in today's market pricing and marketing that maximizes your exposure are paramount, without either, it doesn't matter who the agent is...have you considered a short sale--if that is a possibility, do protect yourself and any other assets you may have by consulting with an attorney who specializes in real estate beforehand--again, do discuss with your agent.
1 vote Thank Flag Link Sat Nov 27, 2010
Houses sell because of price,condition,location.
Either change the condition or the price.
0 votes Thank Flag Link Thu Sep 19, 2013
Everything sells for the right price. I told you you need someone like me who will stop the foreclosure and get that nightmare out of your hair.
0 votes Thank Flag Link Wed Mar 30, 2011
Dear Mr. Dong,
The market has been slow but there will be new buyers coming into the market this spring. My advice to you would be to review the price of the home. If you have a contract with your agent then you should honor it until the end, but after it is done then consider hiring someone who is expert at pricing your home. Also, talk with your mortgage provider about short sale options. My thoughts are with you.
0 votes Thank Flag Link Wed Mar 30, 2011
What's wrong with the agent you have is not helping in solving your debt with your property. You need to do a short sale.
0 votes Thank Flag Link Fri Mar 18, 2011
0 votes Thank Flag Link Wed Mar 16, 2011
Quy
The real question is anything else selling and at what price. I bet homes have closed similar to yours within the same zip code and your house is priced over those that actually transacted. Perhaps your mortgage balance is higher than what you can sell for. If that is the case, contact the loss mitigation department at your lender and request a short sale package. This agent could have done nothing different if your price was 25% too high! Lower the asking price to be no more than 5% over actual closed homes and work a short sale. If you decide to change agents, don't tell him/her what price, use the sold comps.
If you like my answer, please select best answer and a thumbs up.
thanks!
0 votes Thank Flag Link Sun Jan 30, 2011
Quy:

I listed a home on Friday and over the weekend we had 15 showings and 3 offers. It is all about positioning in the market place and then marketing. We have a professional photographer on staff that takes our photos and makes our properties look dynmite on online. Please reference my website. Best
0 votes Thank Flag Link Sun Jan 23, 2011
Quy,

I am sorry for the unfortunate situation. I hope your situation has improved.
A couple of things... Homes only sell for 1 of 2 reasons, it is either improperly priced or improperly marketed.

You should sit down with your agent and carefully review the marketing plan, is it adequate? How is it comparable to other homes, especially ones selling in your area?

Look closely at the price... are you priced properly? Compare to Actives ( you should be better than your competition, or they may sell first, ) and Solds ( look objectively at your home ... as a buyer would ).

If the answer is marketing... have your agent do more and spend more or get a new agent.

If it's the price... adjust accordingly. If you have equity, it's no fun to take a haircut but every month you lose is another morgage payment gone. Remember a bank will not do a short sale if there is equity.

If the home is upside down a short sale can be accomplished easily. Price it correctly. It does not matter how much is owed as long as the offer is what the bank will deem a fair price. A good agent and atty can assist you in this.

You have my sincere best wishes and prayers.
0 votes Thank Flag Link Sat Jan 22, 2011
Selling a home is as simple as it is complex. When you strip it down to what makes a home sell, it is most likely price and marketing. However price is your best marketing tool. Ask yourself, "Is your home well priced against your selling competition?" You don't have to be the cheapest home on the market, but you do need to be a compelling value. In today's market, with technology, buyers can do a fair amount of market research to determine value. If the buyers don't see value, you don't see traffic through your home. It really is that simple. The other two questions to ask yourself are, "Am I getting traffic through my home, and no offers?" And, "Am I not even getting traffic through the home?" Traffic and no offers means that you are close to the proper pricing, no traffic means the market it telling you that your pricing is off. Lastly, what is your marketing plan? How, and where, are you presenting your home to potential buyers? You really need to market your home to where the buyers are looking. And there is more to this than simply putting up a few pictures on sites like Trulia!


If I can answer any questions for you about selling your home, please feel free to contact me via my profile page.
0 votes Thank Flag Link Tue Nov 30, 2010
Call your mortgage company and get a short sale packet in order to sell the property below what you owe.

Drop your price below what you actually owe....IMPORTANT PART, "contingent upon bank approval"

get an offer, pray the bank accepts this
0 votes Thank Flag Link Sat Nov 27, 2010
I am so sorry to hear about your financial distress.

Before you make a decision to change agencies, it might be good to check out what is happening in your market. There is a very good chance the market in your area has slowed down drastically. That said, it is not unheard of for sellers - rightfully so - to be fed up with the lack of work their agents are doing. If you have a strong case against your agent / agency feel free to contact us and we can recommend the top agents in your area.

http://territory.com
Web Reference: http://territory.com
0 votes Thank Flag Link Sat Nov 27, 2010
Quy,

Sorry to hear about your situation. Have you had any showings in the past 6 months? If so, what has been the feedback on those showings?

How does your listing description and pictures look? Does your listing highlight the true condition of your home? Does your home need a lot of work or is it in move-in condition?

There are so many factors that influence the market. Location is one of the biggest factors, but you can't change that. Your home's condition is also a significant factor. If it needs a lot of repairs that could be hurting you. With high inventory levels, buyers can be choosy on which homes they buy. Here is a great resource for the average cost of various repairs and the amount of that investment you could expect to recoup after a sale.

http://www.remodeling.hw.net/2009/costvsvalue/division/new-e…

The biggest factor that controls how quickly a home sells is the asking price. I can sell any home quickly if it is priced aggressively. On the flip side, if a home is overpriced it will be very difficult to sell.

If you want to sell your home fast you may need to consider dropping the price and if necessary selling with a short sale to avoid foreclosure. Good luck. I hope your situation turns around for you.
Web Reference: http://teamlefebvre.net
0 votes Thank Flag Link Sat Nov 27, 2010
Sorry to hear about your situation... Before thinking that it is the current agent, realize that we are just about everywhere in a difficult market, and in most if not all areas in a buyers market, which means that there are more homes on the market than there are ready and willing and approved buyers.... therefore the buyers have all the choices, they can cherry pick the best home at the best price, and they have a lot to select from.

For sellers, their home has to be very updated and upgraded, great location, great curb appeal, space and floor plan, to be chosen by available buyers first....

Second if your home lacks in any of the items above then only asking price can make a difference, so sit down with your current Realtor, and discuss all your options, including price reduction, upgrades, uncluttering if that is needed i.e. box up some things to make the home look bigger, move around some furniture, anything that your Realtor will consider could help and then have your Realtor take new photos.

But 6 months is not a long time, would you consider a short sale ---- not a foreclosure, discuss this option in detail with your current Realtor as we here do not know the financial side, i.e. when you bought your home, how much equity, true equity is in the home, and once you sell it if you need to buy or would rent....

Have good honest sit down and discussion with your Realtor and then make the best, well educated decision how to proceed.

Good Luck to you!
Edith YourRealtor4Life and Your Chicago Connection
Working always in the very BEST interest of her clients
0 votes Thank Flag Link Sat Nov 27, 2010
All great answers regarding price, but also, walk through your home with a buyers eye. Boxing up items that you are not using creates more space, taking down personal photos lets the buyer invision their own items in its place. Positioning furniture to create warm inviting areas. If pets are in the home, remove them and their odor/toys/beds/bowls before showings. Go to open houses in your neighborhood to see how your home might compare to others, by price and condition. Let your agent know you are doing these things, work with them and communicate with them.
Sharon Lucido
508-294-5630
Cape Cod
Web Reference: http://www.bournetosell.com
0 votes Thank Flag Link Sat Nov 27, 2010
Good Morning,
The past six months have been a trying time for both home owners and their local real estate professionals, remember there is probably only one person who wants to sell your home as much as you do and that is your real estate agent!
Buyers are taking much longer to make their decisions. One of the major reasons it appears that we are in the current economic situation is that many people - both buyers and sellers- made their decisions way too quickly without doing their research.
You say you wish to sell your home quickly. I too think it is time for a sit down with the real estate agent you are dealing with presently. They most likely have put alot of time, effort, energies and monies into the process already.
Selling a home is a team effort, not only team in the selling office but team with the seller and their agent.
We have no idea as to the home you are marketing from your question and what your competition is. Maybe it is a unique property looking for a very specific buyer - who do you and your real estate agent see purchasing your home? Are you marketing to the masses or is there a way to target this specific type of buyer?

Is your home easy to show? When potential buyers wish to see your home - are they allowed access within a reasonable time? Is there good flow to the space? personal properties and clutter removed to make the home as spacious and inviting as possible?


People sometimes laugh at the idea of staging a home, but in this competitive market we have to touch on all the senses, not just the visual but all of the senses - nice soothing music in the background, aromas which are pleasing....it all falls into place. And when we have the additional stresses in our life you mentioned it is sometimes difficult to focus on these areas, your real estate agent can help here.



But most importantly how are you priced regarding your competition. Financing is difficult and the difference of $5000 could be the difference in a potential buyer looking at your home. Look closely at the homes in your area in your price range which have SOLD - how does your compare? Honestly which home would you buy and why?

Before changing real estate professionals please discuss a possible change in the approach to selling and presenting your home. If you truly don't feel you are being properly represented then begin your interview process with other agents utilizing the touch points you feel are important to your specific sale process.

Should you need professional assistance with the negotiating with your current lender to either stay in your home or to process for a loan modification or short sale please give me a call, it is an involved process when you try and go it alone. I can help you with the process.
0 votes Thank Flag Link Sat Nov 27, 2010
Quy Dong,

I'm sorry to hear you are having a hard time with this - it sounds like a very stressful situation.

It also sounds like you are a short sale candidate. If you would like to know more about the short sale process, please let me know. We have a team in our office that specializes in short sales and we have a high success rate.

Amy
508-784-0504
amymullen@remax.net
0 votes Thank Flag Link Sat Nov 27, 2010
Quy Dong the houses that are selling in the market in a short time are the real bargains or are in exclusive areas. Your dilemma is not unique, you need to sell but you can’t get the price you want. You need to interview a multiple agents now and get their professional opinion as to the value of your home and how they will market it. This will allow you to make an educated decision on what price you should sell at and with whom to use an an agent..
I hope business picks up, best of luck.
0 votes Thank Flag Link Sat Nov 27, 2010
You should sit down with your agent & their broker to review the marketing of your property. What the current price is, what comparable properties are selling for & the feedback from any showings. You might also want to speak to an attorney & your broker about exploring a short sale position. Unfortunatly properties are taking a bit longer to sell in many markets.

Hope that helps,
Web Reference: http://www.MedfordHouse.com
0 votes Thank Flag Link Sat Nov 27, 2010
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