Home Selling in 34711>Question Details

Beth, Home Seller in 34711

My agent listed my house as a 3 bedroom from Nov.-Feb when it could have been listed as a 4 bedroom. She only changed it after another agent

Asked by Beth, 34711 Wed Apr 28, 2010

mentioned this to her after the Caravan of Homes came thru my house. The house was listed as vacant for many weeks when in fact it is occupied. She has not shown the house herself even once. When we 1st listed the house with her she advised against a short sale sighting many reasons why we should not consider that as an option. Now she is saying that we might want to consider doing a short sale. We had 1 offer on the house but the buyer wanted us to pay their closing fees which we can not afford. My agent would not even consider lowering her percentage even by 1% to make the deal. I know other agents who have said that they would have cut the 1% off just to make the deal. She is getting 6%. We have lowered the price on the home twice. Has she done all she can do? Should I complain to the broker? What should I do? We need to sell this house. I am not behind on my mortgage and would prefer not to ruin my credit with a short sale but we need to relocate in 2 months.

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Linda Cefalu’s answer
Beth,

I'd be curious to know why it was listed first as a three bedroom. In my state there are strict rules regarding listing a home as a bedroom. If it does not have a closet, it cannot be counted. However, the opinion changes from agent to agent as to what constitutes a closet. It could be a free-standing closet or a half closet or a closet just outside the door that only serves that room.

It is also not unusual for the listing agent now to have shown the home. Most showings are done by the buyer's agent bringing the buyer. Unless someone specifically calls your agent and is not represented by another agent, she would have no one to show your home to.

As for listing as vacant when in fact it was not, that would worry me some. Sometimes, if we are listing a property in the weee hours of the night, we are tired and one click of the mouse can create an error. It is for this reason that I always ask my seller to look over the listing just in case! Apparently, you didn't notice these discrepancies. I do not mean to imply that it is your job to do so..... just curious.

Regarding the short sale, there ARE many good reasons not to list as a short sale if there is no urgency to do so. The best one I can think of is that buyers wouldn't even consider a short sale up to now because there was an almost certainty that they would not get accepted and/or closed in time for the tax credit. Now that the credit is almost up, the short sales should see an increase in activity.

Unless your agent is the one bringing the buyer, I doubt that she is getting 6%. That listing commission is usually split between the buyer and seller's agent and often times the banks holding the mortgage will ask for that to be reduced as well, so it's possible she is anticipating that.

As uncomfortable as it may be, I think you owe it to yourself and your agent to sit down and calmly discuss the issues you have presented. If she is not willing to do that, then it's time to go to her broker!

Have you considered renting it out?

Linda
Web Reference: http://www.lindacefalu.com
1 vote Thank Flag Link Wed Apr 28, 2010
Hi Beth,

How did everything work out? I see you posted this back in April.

All the best,
Alma
http://www.SoldOnTampa.com
0 votes Thank Flag Link Mon Aug 15, 2011
I would be concerned about the incorrect listing of your home as a 3 bedroom when it is in fact a 4 bedroom.
Vacant when it is occupied is also a big mistake. What I would consider doing, since you have other issues you would like to have addressed and answered is talking with the agent and her Broker at the same meeting. Calmly ask what happened and you would like a win win situation with the result of selling this home quickly. Most agents do not receive 6% unless they sell the home themselves and don't have to split it. Otherwise 3% goes to the listing agent and 3% goes to the selling agent.
Gloria
0 votes Thank Flag Link Sun Aug 14, 2011
Dear Beth,

You need to price your house correctly and if you do not have the funds to bring to closing then you may have to do a short sale. Sounds like you may be overpriced if you have not gotten many showings. Normally the listing agent does not find the buyer. Buyers are already working with agents and when a new listing comes up on the computer that fits their buyer's criteria they take them to see the house and if the house is nice and clean (clean enough to eat off of the floors and no pet or smoke odors) and uncluttered with "grandma" style furnishings and wallpaper, freshly painted both inside and out and priced correctly then they make an offer. If any of those variables are off the house may ultimately sell for a lot less.

Does the 4th bedroom have a closet? If not, then it is truly NOT a 4 bedroom. If it doesn't have a closet, buy a small cheap one at IKEA and install it on the wall with screws to make it a "bedroom".

Your agent will split the 6% with the buyer's agent and if she is foolish to work with a larger Real Estate firm that keeps half of her commission then she'l only get 1.5%. If you have a $500k house then it may be worth it to her to give up 1%. If you have a $200k or less house then you shouldn't even ask,
0 votes Thank Flag Link Wed Apr 28, 2010
Beth this agent is not working on your behalf or at least working very well, especially to be so greedy that they wont reduce teh commission to make teh deal work. you should contact the managing broker, let them know what happened and what you are experiencing, if they can correct these items it may help you and if they cant bring a written request to be released from the contract at once. You need more communication and need to be forceful to protect yourself. good luck working things out
Web Reference: http://www.ScottSellsNH.com
0 votes Thank Flag Link Wed Apr 28, 2010
You may want to ask your agent what she has done to market your home. If it doesn't appear she has done her job (which advertising incorrectly is a problem with her "due diligence". Check your listing agreement - it is a contract between you and the broker and by all means, let the broker know.
If worse comes to worse, you can move and continue to market the home from where you locate - if the broker has not taken the steps to correct the situation, you may want to interview and list with another broker as well. Do make certain the next time - that the broker will do more than just list your home in the MLS and allow others to show it. You're the boss!
0 votes Thank Flag Link Wed Apr 28, 2010
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