Home Selling in Willow Glen>Question Details

Terry Bates, Home Seller in Willow Glen, San Jose,...

My 6 Month listing is up in June.Can I extend it month to month?

Asked by Terry Bates, Willow Glen, San Jose, CA Tue May 31, 2011

I'm thinking of renting is this a good time in Willow Glen?

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I think you are asking the wrong question. My question would be why hasn't it sold in 6 months. Unless you house is dramatically overpriced and marketed correctly, it should sell quickly. If there is a question of what it should listed for and you and your agent disagree, Pay for an appraisal. If your agent is right, you pay for the appraisal. If your agent was right, extend their listing and lower your price. If you were right on the price, fire your agent and find a new one. I
Web Reference: http://www.guyberry.com
1 vote Thank Flag Link Wed Jun 29, 2011
Hi Terry

Trust you already sold the home, the market has sure picked up.

And yes definitely you can extend month to month.

Regards
Perry

http://www.trulia.com/blog/perry_mistry/2011/10/willow_glen_…
Web Reference: http://www.ruthandperry.com
0 votes Thank Flag Link Thu Oct 13, 2011
I like all the answers below! You can make most any terms you like as long as your agent agrees.

Meanwhile if you just keep the same course of action, you shouldn't expect different results.

You may need to:
-declutter (get things off the walls, clear out your closets, clear the kitchen countertop, help the home feel spacious) I tell my clients to ask themselves about every single piece of furniture or art "will this help me sell my home?" and if it doesn't, it should go into storage!
-improve the condition of the home
-amend the price
-hold new open house days
-make it easier to be seen (not knowing what you are doing, this could be way off board) but the easiest homes to be seen are going to be seen more -- an agent has buyers who change on them all the time, so when an agent says "lock box, go anytime" the home will be seen the most. Or set hours when it can be seen "no need to call daily 3-7 p.m, just go" and conversations like that will help the home get seen more.

The more the home is seen, the more likely you will receive an offer.

Good luck!

Erica Nelson
http://www.HomesforSaleinSanJose.net
DRE 01425475
EricaNelsonEstates@gmail.com
408-416-7090
0 votes Thank Flag Link Fri Jul 1, 2011
Terry,

Is extending the listing by a month going to make a difference? Is repeating the same process going to yield different results? In other words, why has your house not sold after six months on the market?

If you do not know the answer to that question, or if you have not honestly asked yourself that question, the problem is not in the length of the listing agreement.

Is your house easy to show? Is it attractive…well located…free of clutter…possess good curb appeal…away from detrimental issues such as freeways, railroads, boiler factories…possess sought after modern features?

Most of all – is it properly priced to reflect all of the above and in line with the current market?

Make sure that you and your agent are on the same page. Have an honest conversation with your agent. Start with, “I want you to give me an honest answer to my question: Why has my house not sold?” Be prepared to make the change that will get your house sold, change agents or take your house off the market.
0 votes Thank Flag Link Tue May 31, 2011
Terry:

As you've already been told by the other excellent agents, provided your agent is in agreement, you can do just about anything with the listing term from 3-6 months to month-to-month.

Before you decide to change your listing term, however, I would strongly suggest sitting down with your agent to discuss marketing plans, the comparables in your area, and the length of time that a home is normally on the market. 6 months does seem like a long time, and--if you are unwilling to adjust the price for the market--then even a 30 day or month-to-month listing agreement is unlikely to yield positive results for you. After all, in selling a home, price trumps all other issues that may trouble or delay buyers from making a decision to purchase the home.

Also, unless you've decided against selling the home, finding and placing a renter into the home is likely to create further complications that will only inhibit your ability to sell the home. Once entrenched in the home, tenants are seldom as cooperative about showings or making a home available for viewing as they promise at the start of the lease. And, I've personally experienced showings where tenants work hard to discourage a sale to prevent having to leave the home within a 30-60 day window. So give renting very serious consideration before consenting or allowing a renter to take possession of your home if you wish to keep trying to sell.

Good luck!!

Sincerely,
Grace Morioka
Area Pro Realty
0 votes Thank Flag Link Tue May 31, 2011
The terms of your listing contract can be anything you want it to be as long as your agent agrees. Six months is a long time. I suspect there may be a problem with either the house, the location, or the price.
0 votes Thank Flag Link Tue May 31, 2011
Terry

I'd recommend you meet with your Realtor, discuss why the listing has not sold, and then, based on the conversation, make a decision about how to proceed. You need to determine WHY your listing has not sold and make adjustments BEFORE you extend the listing. Simply extending a listing without changes may not be the smartest way to proceed.
.
0 votes Thank Flag Link Tue May 31, 2011
Hi Terry,

It's never pleasant, for either the seller or the listing agent, when a house does not sell after an extended listing period. If you have not had an offer at or near the listing price in six months, it is almost certainly an indication that the house will not sell at that price.

If that is the price at which you feel you would need to sell and renting is an option for you, then one quick way to ballpark rents is through Craig's List. See what similar homes in your neighborhood are renting for, keeping in mind that a rent that is given on CL is the rent the landlord is asking for and not necessarily the sum that will be the agreed-upon rent.

If the market rent is acceptable to you, while the market value (for purposes of selling) is not, then renting may be your best option but do discuss the situation with your tax advisor before coming to a decision.

Regards,
Dan

Daniel Berman
Pacific Century Realty
Listing Comissions as Low as 1%
Buyer Rebates to 50%
Multilingual Services
0 votes Thank Flag Link Tue May 31, 2011
Of course you can. Thought, as an agent, I prefer a 90 to 120 day listing giving the seller the option of canceling not happy with my services. I feel that for advertising, changes in market trends, summer moving season coming, etc, a 30 day at at time listing is unfair to both you and the agent.

JoANN Guercio
408-379-2001
0 votes Thank Flag Link Tue May 31, 2011
Hi Terry,

Yes, you can extend your listing for any length of time you and your agent agree on.

Average Days on Market in Willow Glen has been right around 90 days for the last 6 months; that’s higher than they were last year. At 6 months your home has been on the market twice as long as average. There are many reasons homes don’t sell, but Ron is right, it’s usually price. Prices in Willow Glen have been pretty volatile – currently the median price is $675,000.

Rents in Willow Glen are good – you can probably expect to get about $1900-$2300 for a 3-bedroom home, about $2000-$2500 for a 4-bedroom home (I haven’t seen your home so I don’t know how it compares to other rentals in the area)

Barbara Hunt, Realtor
408-921-6495 cell
0 votes Thank Flag Link Tue May 31, 2011
Hi Terry,
It is a nice home, TJ Marting Ranch homes are well built.........and you have already reduced the price.....ask your agent to do the COMPS once again for todays market and see where you stand. Renting it out is an Option, as lots of folks who are loosing their home are needing a rental place to move into.......What was your initial need/motive to Sell? Do you have to do so right now?? Discuss with your Realtor quite frankly what your options are and take it from there........the market is quite wierd right now.....I have a Condo Listing in Cupertino in a complex where just 4 months ago i sold another one Pre-Market with 2 Offers! and the one i have right now is in a better condition is sitting.......this is supposed to be the right time to Sell./Buy.....things are just the way they are, folks are more careful about making a move!
Wishing you the Best, always,
Nina Daruwalla
0 votes Thank Flag Link Tue May 31, 2011
Yes, everything is negotiable. If you want a month-to-month listing, write that into your listing agreement. In fact, you can even get what's called an "open" listing and pay a commission only to the agent who brings you a buyer. Open listings are not popular, but if you are selling in a depressed area with little activity, agents will be desperate for your business. You are the client and have all the power, so figure out what deal you want and go get it.
0 votes Thank Flag Link Tue May 31, 2011
Discuss this with your agent, everything is negotiable. If they have been doing a great job for you thus far, I'm sure they will work with you on this.

Are you considering renting out the house you own or selling and renting yourself? Rentals are in demand as so many people have been displaced due to the real estate market. You may find that credit scores of the potential renters may not be as desirable. A good property manager can assist you in making a decision on this.

All the best to you.
Web Reference: http://www.terrivellios.com
0 votes Thank Flag Link Tue May 31, 2011
Hi Terry,
That is a question that cannot be accurately answered in this kind of forum. You need to look at why you are selling, how you have it priced, and what you plan to do after you sell the home. Consult with your trusted tax advisor to see if owning a rental would be beneficial, and how that would fit into your long-term strategies. Homes are selling in WG under $1m. Pricing home is key.
Good luck to you. Let me know if you need any referrals for tax consultants, etc.
Linda Baker
Alain Pinel Realtors
408.712.3432
0 votes Thank Flag Link Tue May 31, 2011
Absolutely; the Listing Agreement can be set at any interval you want.
If you've had it on the Market for six months, why hasn't it sold?
The "Time on Market" varies a lot around California; probably averaging 90 days.
Willow Glen is a nice area: Without knowing more details, I would guess that the Listing price is too high. That is true in about 98% of the cases. Sorry, but that's the truth.
0 votes Thank Flag Link Tue May 31, 2011
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