Home Selling in 27249>Question Details

Amanda, Home Seller in North Carolina

Our home has been on the market for almost a year, we have only had one showing since being put on the market in 2011. My question is can we pull the

Asked by Amanda, North Carolina Fri Apr 20, 2012

listing even if we re-listed it back in Feb. for another 6 month listing? Our relator hasn't really done anything to help sell our house. What do we do?

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In hind sight, you probably shouldn't has extended your listing in February with the same agent. At this point, they have a contract with you that represents a commitment between you and the agent. Your best course of action may be to approach the agent and make the request to be released from the contract.

Many people make the mistake of not viewing an agreement such as a listing agreement as a binding contract that needs to be observed by the named partied to the extent of the terms outlined.

Good luck,

Bill
1 vote Thank Flag Link Fri Apr 20, 2012
Hi Amanda, As mentioned previously, it sounds like you may have the home overpriced. Certainly, your Realtor should be helping with the price point.
What has changed that makes you want to pull the listing? I'd recommend you speak with the agent and their Broker.
Good Luck!
1 vote Thank Flag Link Fri Apr 20, 2012
Sounds like the problem is pricing, not your Realtor, it is your pricing.

I have no idea about your house, where it is or anything.. But I can say this: Any house that is on the market for 1 year is out of touch with what is selling in the area. That means you are way overpriced and you need a reality check.

Speak with your agent / Broker.. it is not as simple as "you can pull your listing and terminate the contract" there is a reason there are contracts in the first place.

1 year? Reduce the price by $25,000 $30,000.
1 vote Thank Flag Link Fri Apr 20, 2012
O.k. Now we are are getting someplace, how about you email me you MLS number so I can see what I can see from here about your house versus others.
Flag Fri Apr 20, 2012
We have reduced the price 2 times since putting it on the market and it is priced under value, I refuse to reduce it again because we have aleady done what you are telling us to do and have dropped price $30,000.
Flag Fri Apr 20, 2012
1 year and only 1 showing????????

I have a bunch of questions..........but, to answer yours - you can only "pull" your listing if your agent , and the Broker, agree to it, and give you an "unconditional" release which frees you up to move on to a new agent/company.

Now, that being said..

1.have other (similar) homes in your area been selling? What is your current competition?
2. are you still holding to your original list price, or have there been adjustments downward?
3.are there any overt negatives with your home (ie: steep lot, busy sreet, poor condition, lacking any updates, etc)?
4. is this a short sale, or close to being one?
5.have you had any "marketing" discussions with your current agent? If so..what has she done on your behalf? Did you get a written marketing plan prior tolisting the home? Did she adhere to it?

How does your agent explain the lack of activity??
Do you have regular contact with her?

You need to have a nice long conversation and a plan of action........that plan might very well involve a substantial price reduction............unless nothing has been selling, or sold, in your neighborhood in the past year.....price can trump any negatives...........a new agent can't perform miracles......ask for honest asnwers........nothing sugar coated, and hopefully you will have a better idea of how to proceed.

Best wishes...........
1 vote Thank Flag Link Fri Apr 20, 2012
Yes, a few other homes in our area have sold. We have dropped the price of our home 2 different times and losing money because of the condition of our home, the size of our home, and the 3 acres it sits on. There are no negatives to our home it was built in 2008, very flat lot, 3 acres of land, not a busy street, almost 3000 square foot home. No it isn't a short sale our house was paid for in full when purchased in 2008 after being built. No discussions and I don't believe there was a written marketing plan prior to listing, I will have to check with my husband on that part and see but don't believe there was. There is no regular contact with the agent!
Flag Fri Apr 20, 2012
If your home has one had one showing since being on the market, unfortunately, it is the price. Have you discussed this with your agent? If so and your realtor "hasn't really done anything to help sell our house," time to get a new realtor!
0 votes Thank Flag Link Tue Apr 24, 2012
Amanda,
99.9% of the time the reason homes don't get offers or sell are due to being overpriced for their market. Everything sells when it's priced right. Have your agent give you some recent (within the last month if possible) comparable sold property information. Looking at sold listings tells you what buyers are paying for a similar home. List prices on the other hand only represent what sellers would like to sell their home for. This is a strong buyers market therefore to sell you must be priced to sell. You need to stand out from your competition ( other sellers ) by leading the pack with your pricing. If you do that you won't be disappointed and will sell your home. Take the emotion out of your decision and look at the facts.

All the best,

Gary Geer

http://www.ggeer.illinoisproperty.com
0 votes Thank Flag Link Tue Apr 24, 2012
A sellers motivation to leave a property on the market without showings or offers can vary widely. If a house does not sell it is not always a listing agents fault.

I had one experience where the sellers wanted to leave the property on the market although I suggested we take if off the market and perhaps relist it several months later. I sent the sellers monthly CMAs and market reports, however, they asked and nearly begged me to keep it on the market with no price reductions. The house's location was in an area where 90% of the homes for sale where foreclosures. I changed my marketing strategy several times to generate more buyer activity. About a year later the property sold at $5,000 less of the list price to a buyer that looked at the property 9 months prior.

What made the difference in this situation was staying in close touch with all the buyer agents that showed the property, and sending out blast emails to keep the listing in front of the agents every month. I may have become a pest, however, it paid off and I learned a valuable lesson in market technique. No matter the challenge, giving up is never an option!
0 votes Thank Flag Link Tue Apr 24, 2012
Amanda,

Yes, you can pull if off the market and re-list the home if you like. You can re-list with the same or a different agent. I would run another CMA (Comparable Market Analysis) to make sure that you price your home at market value. Don't hesitate to ask your realtor if you have any questions as of how she/he came up with that value. Also make sure that your home shows well, clean and well presented also on the photos in the MLS.

I hope it helps!


Susie Kay, Realtor®
GRI, CHMS, SFR
Residential/Commercial/Investment
English-Indonesian-Hokkien
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United Real Estate
III Lincoln Centre, 5430 LBJ Freeway #280
Dallas, TX 78240
469-371-2899
susie_k@att.net

http://www.dfwdreamhomes.net

Servicing your real estate need is my priority!
0 votes Thank Flag Link Fri Apr 20, 2012
Hello Amanda,

This sounds truly terrible...

You have to do a lot of things, besides terminating your listing agreement (unless your realtor told you that you were overpriced when you started a year ago, but you didn't listen)...

You got to visit other properties in the same price range to see what you are up against, in terms of competition, staging, price, marketing strategy etc.

You got to find out what the real market price is - by doing a few CMA with local agents.

Then, when you interview new agents for the job, go over how they arrive at their asking price numbers (in detail), what they will do to market your property and when, and pick the one with the most exposure in the market place - the one who you'll feel is telling it to you like it is.

Best of luck with your sale,

Irina Karan
Beachfront Realty, Inc.
CDPE - Certified Distressed Property Expert
IrinaKaran@gmail.com
0 votes Thank Flag Link Fri Apr 20, 2012
Amanda

Yes, you can pull your listing and terminate the listing agreement that is in place.. Please take the time to review your current listing agreement thoroughly in order to have a better understanding of what should be done on your behalf when working with a Realtor incase you decide to relist with one that is more suitable to the task at hand. The listing agreement is a partner relationship. It is unfortunate that your current agent has not viewed it as such.. Communication is definitely instrumental in such relationship. Especially, if you feel that your agent is not performing per the agreement. I agree 100% with the previous Realtors' posts. They all have asked reasonable questions and provided important topics that should be discussed & re-evaluated throughout the contracted period with your agent. Understanding your competition and having a marketing strategy in place is key to achieving the goal of getting your home sold.

Best Regards :)

Crystal
0 votes Thank Flag Link Fri Apr 20, 2012
Amanda,

Have you been speaking with your broker? Have there been any marketing plans or anything discussed? You can terminate your listing agreement with the listing firm. You will need them to sign off on the termination though. Your agreement is with the actual listing firm. Now they can be difficult and refuse but if you like you can push the issue and call the "Broker-in-charge" for that firm. Now if they do not want to release you they will most likely offer to put you with another broker/agent. It is totally up to you on how to proceed. However, with that track record I would definitely say you need a change.

Now no broker can contact you directly to help or give you information since you are under a listing agreement presently. However, you can contact brokers and initiate the discussion thereby allowing us to speak with you.

If you have any other questions or need any help feel free to contact me through my profile here on Trulia or through one of my other websites at; http://totalcarerealty.net
0 votes Thank Flag Link Fri Apr 20, 2012
No, we haven't spoke to a broker. We are new at the whole selling our house so I didn't know there was a broker.
Flag Fri Apr 20, 2012
Hi Amanda,

Contact your Realtor and let them know you want to cancel the listing. You will both have to sign a cancellation form (you and your Realtor and their Broker).

Shanna Rogers
SR Realty
http://www.RealtyBySR.com
0 votes Thank Flag Link Fri Apr 20, 2012
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