In tough times like this everyone tries to come up with an answer. When it comes right down to it, it's all about price. All the Realtors will do very similar marketing for you - the MLS. The key on your end is to give yourself as much price flexibility as possibly. Next to paying off your mortgage(s) the next biggest expense is real estate commissions. At Badgerland Realtors, we have a"Full Service" listing program with only a 3% commission at close. Visit our website or call for details. The savings in commissions often allows you to get your price to the right level and still come out okay.
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Your agents unwillingness to work with you I would take to mean that they have given up and thinks it will not sell. I would get another agent that is more eager to work with you but you can't expect magic. Open houses in my market area are more than rare. Every market is different so you need to check to see if they are common there or not. Since she has been your agent fro 6 mo I would move to another. Don't just look at comps but also look to see what is listed in the area in the price range that you are listed for. This can show you what is available for buyers to look at and then compare to your house.
Hopefully your company provides a buy-out if the house does not sell. You might need it.
Your agent said they don't have broker open houses? I don't know what your market is like but this seems suspect to me. How else can you get agents into the home to look at it? E-flyers can be a good follow up to agents but I find that in our market broker open houses are essential, especially right after the home is listed. Please do speak with the broker and find out what the rule of thumb is in your area. Even if most don't do it, your home could stand out and at least be seen. I offer food to get people to come by and one doesn't have to spend a lot of money on the food if they don't want to.
Regarding the 10% price drop, it is a good way to make a real impact on buyers. When sellers adjust their prices just a little bit at a time, often they end up chasing their price down and end up getting less than what they would have if they had made a substatial price drop. Unfortunately we are in a market where buyers want real deals and most homes are just not selling for their "true worth".
Again, Good luck!
I'm a bit confused by the question that I was asked regarding if we are paying her? We have a listing agreement (6 months) so if that is what you are asking about then yes, we are paying her. Of course, our house needs to sell first before she gets any money back.
I did ask her about an agent's open house and she said that they don't do that, instead, they do it "electronically". She sends out an e-brochure to a contact list of agents in the area. I don't know if that is just as good or what, but that's what she told me.
Regarding the comment about the granite and appliances, the granite, we realize we will not recoup in cost. However, in our area and price range, it's definitely what buyers are expecting. The appliances we bought because we needed them. Keep in mind the house is only 11 months old (we had it built) and it didn't come with appliances. Also keep in mind that we didn't intend to sell it so soon after moving in. The job transfer did not come at an optimal time, I know. The company is not intending us to lose thousands because they transferred us. We just want to get people in the door.
You definitely have agent issues if your agent seems to busy and preoccupied to give you advice so I would proceed exactly how you stated: ask her to pull recent comps and if not satisfied I would approach her broker. Inbetween those 2 steps I would also express your concerns about her not giving you the attention you deserve.
However, although 25k under what you purchased it for in 2/10 seems excessive, you need to look at the market trends in your area to see if maybe, as depressing as that may be, its in the ballpark. There are areas that have been subjected to drops like that in the last year's time. I obviously have no idea about your market though. It should be easy enough for you to find out.
I hate to say it but upgrading with granite and applicances may make your home more marketable, but it is unlikely that you will recoup your costs.
The article that doogie linked to (and I know a lot of agents are not going to be happy with me) is probably accurate in that there is no valid claim that hiring an agent gets you a higher price for your house. However, it does put your house in the public's eye a lot more (most homes are sold through the mls) and it saves you a lot of work. Kind of like hiring a general contractor for renovation vs doing it yourself. Many people are capable of fsbo but you have to be educated on the process. You would also still need to hire a flat fee agent to list on the mls and pay the buyer's agent a competitive commission.
Be proactive with your agent and gain the knowledge you need in order to proceed and your house will get sold. Unfortunately, it may not be sold for the price you were hoping for.
Tough times for sellers these days.
Get as educated as your agent, if not more so you feel good about the price. To know how to price, you compare past sales of similar homes, homes still on market, and appraisal. Also, go to some open houses in your neighborhood. Has their been a broker's tour to your house? This is like an open house only for real estate agents where they go check out houses that may fit their buyers. Good luck to you!
I will speak to my agent and ask her to pull more recent comps. When I question her about the lack of activity, all she says is that nothing is selling right now. I'm not 100% sure that is true, but the comps should show that. If I don't get a response from her then I will go to the broker's office and go from there.
Thanks for the advice.
I believe the best way to stimulate activity and get people in the home would be to drop the price 10%. You might want to think about doing all of this right after the New Year. Good luck.
Interest rates are rising, naturally triggering an increased urgency for some shoppers. I suggest making your moves now, not later to adjust price while the buyers are in the market looking for good homes to close on before rates get higher. Later, your price drop may be much more significant.