The only thing your agent did wrong is not educating you on the home selling process.
1. It's not decorating advice it's called STAGING. If you look at any articles on selling your home, they ALL suggest doing necessary repairs and updates to help your home compete with other listings. If you don't "fix it up for someone else to live in" that "someone else" will buy a house where the sellers were willing to do the work instead of your house. If you want to SELL, then do the updates or lower the price.
2. There's no market in Wisconsin, that I am aware of, where the average days-on-market are less than 90 days, unkless you are in a really "hot" area. You are averaging 1 showing a week. You probably had them all the first two weeks too. That was the most motivated group of buyers you'll ever see and they have rejected your property. Probably because it's overpriced or too dated compared to other properties. Do you realize that other properties go MONTHS without even ONE showing?
3. Newspaper ads are expensive, short-lived and ineffective. Your house will get a ton more exposure on the internet, through MLS and the lawn sign. She's better off spending that money on broker's open tours. Spending all of that money for the "one buyer chance" is ridiculous - there are no buyers out there who ONLY read the paper for houses. They will drive through neighborhoods (and see the sign), go on line, check grocery store listing books like Harmon Homes, hear about a place through friends/family and/or see a flyer at a community location.
4. Open houses don't sell the house - they are a meet & greet for agents. Serious buyers don't go through open houses - they make appointments with their agent. All you get at open houses are looky-loos, nosey neighbors and drive-bys who can't even afford the house or aren't even pre-approved yet. Your house is open 24/7 on the web.
5. Agents RARELY sell their own listing. Even with extensive internet exposure, with most calls I get, the people already have an agent.
6. I ask sellers to post a copy of my flyers at their work, church and other community areas. Those are possibly like-minded folks who may be interested in their property for the same reason the sellers bought it in the first place. It's SMART! Even if she didn't ask you to do it, you should do it anyway! She should get kudos for thinking to ask you to do it. "Unprofessional" would be if she didn't even think of it.
7. At first the price is too low and now SHE has priced it too high? It was probably the look of shock and horror on your face when she told you her price opinion that made her price it higher for you. Obviously, you liked that price and agreed to it. SHE didn't set the price, you did.
I've been selling real estate for 12 years and I can tell you that all of the things which you think are "wrong" are actually signs of a motivated and hardworking agent. Most agents toss it in MLS and wait. Her biggest mistake is not telling you what to expect in the process.
I agree with the other agents - either do what your agent suggests - and I mean ALL of it - or ask her to do another market analysis and get a REASONABLE price.
What the heck did you hire her for if you aren't going to listen to her professional advice??
Just because you have not gotten an offer is not her fault. I think in all likelihood your price is probably too high. the market is speaking to you!
Very hard to believe that you would not like this Gal when she is bending over backwards to help you! Rethink your position. Quite frankly, you are WRONG!
These comments only show that you don't know how to sell real estate. Everyone thinks it's so easy and this is a typical misconception among sellers - that we just want you to lower the price. Personally, I ask sellers to do updates only if I think it'll get them MORE money.
First off, if you wait to do the "reasonable updates" you turn away many buyers who will see your photos of a dated house and don't even make the appoitment to get through your front door. Once they get there, every update will cost you 3 times (in a buyer's mind) than it would have const you to do it ahead of time. They want to take that off the price. Where you could have changed some fixtures and a countertop for $1,500, the buyer sees a $20,000 kitchen redo. So, they'll automatically think you're $20,000 overpriced. MOST buyers won't make an offer on a property which they think the seller isn't going to negotiate. And if you are in completely the wrong price bracket - say $250,000 when you should be at $225,000, then you will never get an offer. The $250k buyers will just laugh and buy house that is really worth $250k and the $225 buyers won't write an offer because they'll never see you're house - it won't come up in their search results because they're only searching up to $225k.
Everything comes down to price, because for the right price, people will buy ANY house.
What do you consider "serious sales effort?" Lots of open houses and newspaper ads? If so, you're completely misinformed. Open houses generate tirekickers and nosy neighbors. About 4% of home sell off open houses. Would you keep spending hours and hours doing something that has a 4% chance of success? Agents sold sellers on Open houses becaue they were great sources of future business - they knew that 99% of buyers at an open house will NOT buy that house. And 90% of buyers are searching for houses online. Why waste $300 for an ineffective ad? I'd rather put that money into better photos, a staging expert,a virtual tour....not a print.
There's only so much we can do with an overpriced, dated house when there are so many cheaper, updated houses for the buyers to choose. And why hire an agent when you don't want to listen to their advice??
We don't "sell" houses. We market and negotiate. A house sells itself to the buyer. But it has to be the right condition at the right price. No salesmenship in the world will sell an overpriced house. Buyers are too smart for that. All we can do is try to get the sellers to do the thing that allow their property to complete and appeal to buyer, market the heck out of the property, negotiate offers and protect our client's interests.
There's something you and no agent can never change - the buyers are looking at ALL properties on the market in a certain price range. If your house isn't as nice as those, they won't buy it, nor will they bother making an offer. They will just buy a nicer house in their price range. Buyers in the lower price range won't make an offer because they think you won't take it and it's a waste of time. So they'll focus on houses in their price range and never see your house.
If you won't get the house into the same shape as the competition, in the same price range, then you have to lower the price. It has nothing to do with agents and their commissions - it's just what buyers expect in a buyer's market. In ANY market, really.
I don't feel your agent was unprofessional in asking you to hang up flyers for her. She created them, she spent the money printing them. There would have been no work involved on your side.
Bottom line is: if you had that many showings and that many open houses but no offers yet, your home is overpriced or its condition doesn't justify the price.
As an out of state Realtor, it is difficult for me to tell you about your Marekt condition and how fast / how slow your house should sell at what price, so I won't touch that. .
However, I think you should ask your agent to give you analysis on the current market condition, how many houses are on the makret at what price and how long does it take to sell those houses (the absorption rate of the local market).
I do think she gave you some good suggestion about fixing up your house to make it stand out among others; it is especially important in this market. .
Each of us have only so many buyers and they may or may not be looking for a certain type of home so a big advantage to go with Realtors is to give your house exposure to the many other Realtors so they can bring their buyers to come and see your home, so you should be pleased that other Realtors are showing your home. .
If you don't feel confident with her representation due to her lack of experience in R.E., you might want to ask to meet with her and her Broker and go over your concerns. Her broker might be able to ask a more expeirenced Realtor to work with her to sell your home.
If you feel it's priced high, then after her new comparable, please do not hesitate to drop the price - although usually you want the drop of price to make an impact instead just a little at a time. So, that's something else to look at.
You have some very good posts to your question. Here are a few key points that might help you.
In most areas the greatest interest in a listing occurs in the first two or three weeks on the market. The standard expected is 10-12 showings or one offer in the first two weeks.
In most markets about 20% of the listings are prepared for market correctly, marketed correctly, and priced correctly. They typically sell within 30 days at closest to asking price. In my market that means if it sells in 30 days it will sell at 100.3% of asking price. At 120 days they sell for 92.7% of asking...and that is AFTER some price reductions.
So your home is definitely in the 80%. You are not receptive to her advice for enhancing the value of your home. Perhaps if she was not a friend, you'd listen to her. That's too bad because the worst sellers are those that think they know more than their Realtor. In most cases even new Realtors have mentors that offer them advice and training.
I do not think firing her is the answer. I think you need to do some tweaking to your home's marketability.
Repaint the trim on the front of the house.
Paint the front of the house.
Plant some nice fall flowers in the front.
Declutter the house. Remove anything that does not absolutely need to be there.
Clean the inside of the home thoroughly. Touch up paint if needed.
Re-stage the furniture...re-arrange it.
Take new pictures.
Drop the price 5%
Invite 200 neighbors to an open house on a Saturday with the ball game on , cook hotdogs, raffle off a digital camera or certificate to a local restaurant.
Meet with your Realtor and ask her to bring the following:
Since your home hit the market, how many homes, like yours have:
Come on the market
Lowered their price
gone into escrow
Tell her you want to see that list each week.
Go out and look at the 10-12 homes that are competing with yours. Visit them on an open house. Take notes. Compare your home to theirs.
Somebody is buying homes in your area. If ANY of those other homes sell within two weeks after you have your re-launch, then lower the price again.
Our rule number one is, "If it looks too good to be true, it probably is....." To follow up on this, our rule number two is NEVER doe business with reiends or relatives.
At this point it looks like you are stuck and need to wait it out. By this we mean, wait until your agreement with her expires and then move on to another agent. In doing so you may want to take the position of looking for a larger company, a company that is a major player in your vacinity, a company that will sell for less commission, do a FSBO etc.
Unfortunately, there is no easy way out but on the other hand, there is always the chance that she will sell it....... problem solved.
Note to self.......remember the first two rules
It sounds to me like your agent is doing her job, maybe she could share some statistics for your area to prove the points I have described above....good luck to you and your agent :)
PRICE: If you're getting showings, you are within 3% of where you need to be on price. Just because she is not bringing buyers through does not mean she is not doing her job.....some agents are listing agents, some are buyers agents, some are both....
PRODUCT: Your home....does it show well? Good curb appeal?
PITCH: The marketing. The fact that she is spending even a penny in newspaper scares me. She should have an enhanced listing on Reator.com, and be on Zillow, craigslist, backpage, etc.....most consumers use the internet extensively to market homes.
Before you fire her, why not suggest a meeting with her and her broker?
Your agent is right that newspaper advertising is a waste. With 80% of buyers starting their home search online it makes more sense for her to be spending those advertising dollars on the web. If she's not doing any advertising on the web she should start educating herself on how to harness the power of the net to sell homes.
2 months is not a long time for a home to be sitting in this market. Homes here in Florida are sitting almost a year before they sell.
As far as the church flyers go, I give her credit because it's creative but may I suggest taking it a step further and also posting something about your home on the church blog.
Give her a chance, I know it's an awkward situation but she may surprise you. If it doesn't work out than have your husband do the dirty work. . .just kidding. I hope it all works out.
It sounds like she is doing a good job. You mention that she had done open houses and nothing happen, this is not the best of markets to sell a house in less than 2 months. I suggest you talk to her and explain how you are feeling and maybe you can come to an agreement. Let her know how you are feeling and what you want out of this. Maybe the price of your home is to high or you need to make some changes to the way the home shows. Also, you should consider internet advertising
Good luck, i hope this doesn't hurt your relationship with her.
Good Luck to both of you and remember sometimes friendship is more important than getting frustrated too quickly. This market is rough for all of us.