NB22
The situation you have is not unusual for us to hear about on Trulia.
You might want to look at the link below.
Trulia reports that in your area there are 415 homes on the market and recently 194 sold, and that there are 85 foreclosures.
What does that tell us?
1. Homes are selling...just not yours.
2. Homes values are under pressure due to the foreclsures - according to Trulia the average price per square foot dropped 8.5% during the past year. That means by not getting your home sold you have lost 2.15% in value.

So your question is "why has my home not sold if others are selling".
In a market with foreclosures, know that banks are going to sell their properties at whatever price they can. That means that some sellers, perhaps like you, who might say "l am not going to give my house away. I need to get my price or I am not selling". Truthfully in this market, then you are not a seller.

Buyers are represented by a Realtor about 90% of the time. So if your property is not being shown by Realtors, that does not mean that they are all on vacation...they are out writing offers and showing homes that they think are worth showing.

The rule of thumb is 10-12 showings or one offer in the first two weeks on the market or a price adjustment is in order. The longer a property sits on the market, the bigger the gap is going to be between the list prices and the sale price.

Ask your Realtor how many showings your home has had by agents in the last three months.
Then look at the 10-12 properties that are competing with yours (or ask your Realtor to send them to you).
The chances are you are over-priced.

Good luck.

Nb22

You've gotten some great suggestions already that has pretty much highlighted the market. Sounds like you do need some direct communication with your listing agent to start things off to determine if you are properly priced for the current market.

The answer to your immediate question as stated below is YES, there are various methods all agencies have to handle dissatisfied sellers, from assigning them to another agent to releasing them from the listing. The first step is to speak directly to the agent, LISTENING to their advice and input and quite possibly trying some of the suggestions especially if it is in regards to pricing since you mention you have not had anyone come through. If you are on the higher end of the market, unfortunately I can't say that is surprising or even unusual, and hopefully your agent is able to give you all the answers to your concerns even the tough ones you may not want to hear.

The area market is full of listings and unfortunately the most activity right now is on the lower priced homes (first time buyers with the tax credit) and foreclosure properties as many buyers are looking for their perception of a real "deal" or they are investors that are looking for flip properties.

For your own satisfaction, have you looked at the number of listings in the 44212 area on Trulia or another MLS fed web site just to see what is out there that is your direct competition? Yes, it is something your agent will/should do to keep you informed, but you have doubts so do some of your own investigation. Is your property showing up in the mix? Ask your agent to show you what has sold recently in your market...all of that info is readily available.....and will hopefully help you get a better feel of what direction to take.

The best thing to do is call and talk with her Broker / manager... discuss your concerns and they may be able to discuss realistically with you what is fair to expect and help to correct any true issues...

Hope this helps,

Mark

Hi Nb
Your question is one we see frequently here on Trulia......

Very often sellers feel the frustration of the market, and look to blame their agents for the home not selling.
You may very well be justified in your discontent, but....did you get a written marketing plan prior to listing? Did you list at the price the agent suggested? Did you make any repairs or upgrades that might have been suggested?
Three months on the market and no offers may mean you are priced too high.

When I list a home, I tell the seller that we will be working as a team. I can make suggestions, but can't force a seller to follow my advice. This can lead to a lot of frustration all around.

What I think you need to do is sit down, in person, and have a real conversation with your agent......... review what she has done thus far (basic stuff like internet postings, brochures, virtual tour, broker open houses, public open houses, etc etc).......have her also update you on the current market conditions in your area...............what is new on the market, what has sold or gone under contract......what price reductions have taken place since you listed?? All of this is vital information for you to have.

Once you get a full picture of what is currently happening, and what has been done on your behalf, you can then decide how you want to proceed.

if you are still as unhappy, then speak to her broker or manager.....make sure your expectations are realistic. The broker can assign a new agent if that is what is in your best interest.

Good luck to you...............and the very best wishes
Debbie Rose
Prudential NJ Properties

Is your property priced at a realistic price? Maybe you should adjust the price or at least have your agent give you a marketing update and prepare a new CMA. Think about this, do you think the agent want your property sold? Of course she does, because she wants to get paid. My point is, give your agent the benefit of the doubt and check your numbers and have a heart to heart with them. Then act accordingly, but if the property is over priced, the property is not going to sell, not in this market.

Yes, you can look to get a Mutual Release from your listing agreement. Ask the agent and if you get nowhere with that, contact the office manager or broker in charge. It behooves them to let you out of your agreement, as they do not want the bad publicity!

Good luck, and please let me know if I can assist!

Art Hotes ~ RE/MAX Classic