The one thing that "may" help bring some calls/ traffic to your place is a seller buydown of the new buyer's mortgage rate. This kind of marketing push is not done very often, especially if you are not a homebuilder/ developer- but it can help set you online or print ad apart from others. If you'd like to see how that might work, please call or email me. Thanks, and good luck,
To address the question you asked, you need to find out whether the agency affiliations - is it a National /International Firm, is it franchised, is it part of a corporate structure - make a difference in sales in your town. What is the brokerage with the dominant market share in your town? It is not only the efforts of the agent, but also the network associated with the brokerage, that can increase the exposure of your property to the largest pool of potential buyers.
We agree that your home needs to be aggressively priced in this market...
then you need to do something to make your home stand out among the competition.
Think about reducing the Buyer's monthly payment. (Ken L.'s suggestion).
If you are a Buyer and you are looking at 2 homes ...each priced at $300,000.
Seller # 1 offers to reduce his price by $6,000
(This would lower your monthly payment by $32.98/month =$1,566/month
Seller #2 offers a Buyer's incentive: $6,000 at closing that can be used
1.) as a standard price reduction
2.) toward closing costs
3.) toward an interest rate buydown.
a.) permanent buydown (1,504.21/month)
b.) temporary buydown (1,259 Year 1 and 1,424.17 year 2)
4.) Any combination of the above within lending guidelines.
Buyers would rather make the lower payments...
The numbers don't lie...Payment speaks louder than price!
We represent Motivated Sellers... as a value-added service to a Realtors marketing plan.
Charts/scenarios and calculators...
In the past three months, 56 single family (averaging 131 days on the market and most of the activity happening between $250K-$350K) and 19 condos (most having been on the market over 300 days with no real bubble, but ranging in price between $100K and $400K) sold in Billerica ...
As was mentioned already, homes are indeed selling in Billerica. And, in fact, many homes did sell well within 30 days which usually indicates not only good marketing, but that they were priced well.
If your home has been in the papers, has had open houses, is online and is listed in MLS ... then, one might have to look at the asking price. As advised below, ask your agent what he/she thinks will make the house sell. The connections and resources that a real estate agent/office has does indeed play a part in how hard one would need to work to sell a house, but not always. And if the agent has worked very hard, then the problem may be with other circumstances.
Type your property's address in google. That will give you an idea of exposure.
The buyer that purchases your home will come with an agent 90% of the time. If no agents are showing your home, they are not on vacation. They are showing other homes.
Find out how many homes, like yours, have sold during the time yours was on the market.
Homes are selling, just not yours...
If you give us the area you are selling in and the price range we may be able to identify on a more big picture scale what problems you are facing. For instance the area may have a low absorption rate and high inventory which may mean that your property has tons of competition in a town where places aren't selling.
In this market, 3 months isn't long. The question is, are you getting showings? If so, what is the feedback? If you aren't getting showings, then it's time to change the marketing plan. Incorporate the feedback into the marketing plan, too. That might mean adjusting the price, taking new pictures, staging the house, doing another broker open house, etc.
But that doesn't answer your question. You seem to like your agent, so as Scott suggests, have a meeting and talk about what to do. I would give them a couple more months, see if there is progress, then talk with other agents to consider a new contract.
PS- provide a link to your listing when you post here- lots of agents will see it , and maybe one wll have a buyer for you!
Best of Luck,