The agent is responsible for ensuring an accurate, SUPPORTED list price. That's presented to the seller and they either acknowledge the data or ignore it. If they ignore it, then the agent is likely setting themselves up for just this type of situation - they will be blamed for a lack of activity. Agents that are incapable or reluctant to be candid with buyers on price do everyone a disservice - including the seller. I'll walk away from an unreasonable seller - remember - it has to appraise no matter what the contract says.
The owner is responsible for PROPERLY selecting an agent. If they pick a part time hack, shop for the cheapest fees, use their tennis team partner who valets cars at night......guess what - you post on here and complain. The owner is also responsible for getting the home presentable.
Our's is not a part time industry despite the number of opportunity agents out there. The best agents make it look easy - and the best agents should be compensated for doing that because it takes a ton of work, money and attention to do this properly.
I don't see communication as the problem. At this point it seems that the agent is toasted and sees this as a lost deal. The owner should start fresh, try to hit whatever spring market occurs and PROPERLY INTERVIEW the next agent. If it's an issue of pricing then that's a pill the seller will need to swallow and it needs to be delived by an agent willing to be candid.
Let's stop being wet nurses and do our jobs. Why is anyone apologizing for this situation? The seller is in control of it - fire the agent!
Sellers whining about a lack of activity need to stop as well - you picked the agent, you should have reviewed the data and you should treat this as a business transaction. Take charge and get on with it.
a agressive agent - who is going to tell you the truth about what the market is doing! The agent needs to
tell you - what price is needed to sell your house......... then you can make a decision on what is best for
you and your family - you need to know the facts - not someone telling you what you want to hear.... because there are houses selling! One of my listings - went under contract just before Thanksgiving and it should close tomorrow Jan 6th - it is not a foreclosure.... but the owners made a decision based on the facts - not what they wanted to make - but now they can move on with their lives. Note: your agent must be a "Full Time" agent - alot of agents are "Part Time" agents with other jobs!
I am a FULL TIME agent/Boker and I advertise my listings and I keep my clients informed! Call me and lets talk about the options you do have - they could include (1) get a new agressive agent with communication skills (2) take your home off the market and wait.
But the first thing you need to know is the truth about your house and the market - then you can decide what is best for you and your family. Call me and we can talk about your options.... it doesn't cost anything to talk.
Call me @ 770-789-2401 (cell).... I answer my phone up to 10pm at night
Paul Henderson - Agent / Broker - Re/max Neighbors in Calhoun, Ga.
However - and this is a huge however - if the home isn't show ready and PRICED CORRECTLY you can have the Goodyear blimp moored at the place and it won't sell.
This business isn't rocket science. While the market stinks, the market does recognize value and homes properly presented will sell.
I would try or wait it out and then re-posistion your house. Even though the agent seems unprofessional and incompetent, the harsh reality if you're not getting any action is, your over priced for the current market. Regardless of open houses and promotions, as long as your property has full internet exposure, buyers are seeing it. That is if the pictures are clear or you have a video tour uploaded. Good luck to you and your agent. Sounds like you will both need it.
If you aren't getting showings it's one of three things...IMO
1) you are very overpriced....you need to see what the comps are in your market
2) you do not have good pictures on the Internet...or none....very few/poor pictures will cause a buyer/agent to move on
3) your market is just very slow....this is just what it is.
I would suggest you arrange a meeting with your agent and talk...if you are not satisfied after that, then reach the agent's broker and talk with him/her....the broker is who really has your listing and can reassign it, if necessary, to another agent.
Good luck to you,
For more seller tips: http://www.RochesterHomeLocator.com
You need to have a heart to heart talk with yourself and decide if you really want to move. If so, then you need to be a little more realisitc in pricing. It is very easy to blame your realtor, but the market is the market.. Your Realtor can take out 50 ads, sing song and have a band palying outside you home. If it is overpriced, it is not going to sell and no one is going to come and take a look.
Someone posted below belittling the agent for taking a listing that may be overpriced. Well, that happens.. maybe the seller said THIS IS WHAT I WANT.. I have a few like that, but I tell them.. if no one comes, remember that I said is should be 409k.. NOT 459k. If they are o.k. with it.. I'll take the listing. Sure I will.
And when they as why.. I'll tell them. look at the price of the home and reduce it.
I am so disappointed to see that this has been your experience with a real estate agent. It is NOT the norm and it is in no way acceptable to have no communication. Have you checked to make sure that your home is in the MLS? You can see it on Realtor.com and most major real estate agency websites if it is.
Try also doing a google search for your stree number and name..i.e. 123 Mockingbird Lane and see how many references to your home are on the Internet. Effective Internent marketing with lots of good quality photos sell homes! If you are not finding references to your home on-line and in the MLS your agent is not doing their job and you need to immediately schedule an appt. to speak with the Broker..express your dissatisfaction and enlist them to help you by assigning another agent or getting this one to work for you effectively and with communication.
If you are in fact being promoted with good photos on-line and you have not had any showings in 13 weeks then your home is overpriced. There is no other reason that a nicely presented home would be overlooked by all home buyers for that period of time.
Best of luck to you!
It's so loaded for the typical Trulia Voice attraction language, that I'm not surprised that there are 46 answers from around the planet.
Regardless, and thankfully, Hank Miller provided the 45th answer. He got a thumbs up from me.
Lets copy / paste his most cogent points:
"Let's stop being wet nurses and do our jobs. Why is anyone apologizing for this situation? The seller is in control of it - fire the agent!
Sellers whining about a lack of activity need to stop as well - you picked the agent, you should have reviewed the data and you should treat this as a business transaction. Take charge and get on with it."
Blue - your fault. You welcome advice - well you got it from Hank. He probably knows a decent agent in Calhoun - you should call him.
Don Tepper's answer also got a thumbs up - he is so good at being a Trulia Voice....
First, your home is overpriced. No showings in 13 weeks means you're overpriced. Ask your Realtor to run a CMA (competitive market analysis) to determine what your home is worth and what it should be marketed for.
Second: No signage, no open houses, no phone calls, no Realtor open houses. That sounds like no marketing. Question: Prior to listing with your Realtor, did he/she present a marketing program? If so, it sounds as if he/she isn't living up to it. If not, shame on him/her . . . and you for not getting in writing what services would be performed. But we all make mistakes and you can't be expected to be an expert.
What to do now? Do NOT wait "for the market to eventually turn around." Some houses are selling now. Maybe not many in your area. And maybe you can't reduce your price enough. Still, you have to find out. That's where the CMA comes into play. What you do is this: Schedule an appointment with your Realtor's broker--essentially his/her boss. Explain what's happened and what hasn't happened. Explain what you WANT to happen. The broker may attempt to switch you to another agent in the office. That's OK if the new agent will perform up to the levels you're requesting. Otherwise, consider whether you'd like to request that the listing be cancelled so that you can find another agent with another firm who is willing to work to sell your home.
Hope that helps.
Sorry for your despair! Like many others have said, communication is the most important. If you haven't heard from your realtor, you need to start the communication. Call him/her and be comopletely honest with your concerns. I'm sure they will be honest with their answers (Realtors also want the house they're listing to sell)! Most likely the price is the issue, especially if you bought at the height of the market. Also since the 13 weeks include the holidays, unfortunately this is not a busy time of activity, unless you are a department store. If you communicate honestly with your realtor, I'm sure things will start rolling!
I feel your pain! First rule of thumb, Communication, Communication, Communication....
Call up your Realtor right away. Have your list in your hand, read it off to your Realtor. I can almost bet you that your Realtor will say, I am so glad you brought this to my attention. All of your suggestions are great. Let's incorporate them right away. I'll schedule an Open House this weekend. I'll call the sign company and get a directional up (if that makes sense and your city allows it). Newspaper is out. But, your home is listed on all of the top Real Estate Websites, SearchHomes.com, Trulia, Realtor.com, yada yada yada. Daily reports should be an asset. I'm sure you liked your Realtor enough to sign a contract with her/him. So, just go ahead a communicate. With that said, usually, no interest means it's priced too high for your area. If it's priced too high, then you won't get much activity or any. Good luck and remember, communicate. Ahh, life is good. ;)
For the past 10 weeks are holiday season, it is normal if you don't get any showing. You might consider to pull your home off the market for couple months, then put your home back on the market during the spring time. Your home needs a break. At the same time, you need to talk to your realtor face to face to discuss the service they are willing to provide. Home owner should be informed and analyzed the market every 2 weeks. Market change fast, home owner should be keep on the top of any change from their realtor. Good luck.
We are in a terrible market, and winter is particularly bad, however there should have been more attempts at communication and open houses. If you ARE with a high commission fullservice broker there is no excuse for this. Some agents may be warry to talk to you until your current listing is fully cancelled because of ethics rules.
Give your agent a talking to, ask why they didn't do more, but if you have lost faith in them or you get attitude, go with your instincts.
You have two main issues. 1. Agent 2. Market Conditions. 1. No communication from your Agent is unacceptable and I would contact your Agent's manager and have a sit down. 2. Market Conditions, if your home is 5 years old then you bought at the height of the market. Unless your home was in shambles and you gutted it and redid it, then most buyers would expect your home to be listed according to market conditions. I would suspect that your market like many CA markets had dropped 10-20% and that should be your offering price. Best
How frustrating! Marketing is everything in today's market, and it is critical to have an aggressive agent who is leveraging the power of the internet to get your home sold. I've attached a link to a blog I wrote on this very topic--hopefully it will help you to light a fire under your agent.
Best of Luck,
I can only think of three general possibilities.
1) The property could be ridiculously overpriced perhaps based on condition and there are many other properties to choose from in your vicinity for much less, hence no phone inquiries.
2) Timing could also be working against you to some extent. The Holidays tend to slow activity down for a while. Your market may also be slow in general.
3) Your broker stinks. You mention no phone calls. This is to discuss/disclose any activity generated by the listing. No open house. This aspect can be critical to a new listing as time on market tends to make your listing stale. No signage. This could help through word of mouth and drive by interest. I would then also suspect no mailings within your area to introduce this "New to the Market" listing. I will also refer to # 1 because if you are overpriced, it is your broker who is to consult/advise on agressive pricing if needed.
These are just a few of my thoughts. As I had stated, I don't know your market. There may be other factors I am unaware of that may be impacting in some way. Something does seem not quite right here though. I'm sure one of the other 50 + answers have covered what you might do in this situation.
I certainly wish you all the best moving forward.
Then it's a matter of price, how well the property shows, and how many people have seen it. Your Realtor is responsible for getting the most amount of people through the door as possible. Keep him or her accountable for exactly what steps they are taking to ensure that your property is getting 'in front of' the maximum amount of people as is possible. Ask what steps are being taken to ensure that buyers are seeing your property.
Then you need to really and honestly evaluate whether or not your property is showing well and whether or not it is priced correctly. Feedback from showings, open houses, and your Realtor should be able to help guide you.
Best of luck!
I would be careful about my decisions. Talking with your current REALTORÂ® and taking advice from them could lead to an active buyer. Has your REALTORÂ® talked with you about the list price, home conditions, and market conditions? We are professionals for a reason, and we have tools and information that will lead to the sell of your home. Good luck and God Bless.
Buyers are asking whats wrong with your house? Its been on the market a LONG TIME.
Today its all about Value
i am in Baltimore and now introducing auction services for my customers. it is deader than a door nail. At auction, you can set a reserve price, so if you do not like price you can not sell. however, it is a done deal with no contingencies.
I am a Broker who sell's in Ffld County Ct. outside of NYC. My customers are very demanding but even if they weren't I would call them regularly, regularly, which is minimum weekly.
Your agent does not seem very interested in you.
My suggestion is;
Look for a new agent, someone that is Hungry.
Real Estate Store-Ct.com
Hope this helps
Nothnagle Real Estate
Unfortunately there really isnt going to be a different set of price points for "regular" sales as opposed to a "short sales or REO's" ( foreclosure) So yes if you dont want to compete with those types of listings and you really dont "need" to sell, waiting it out may not be the worst idea... but remember you also get more for your money on a purchase so it works both ways...
Ed Evans The Real Estate Professional
Under any circumstances there needs to be communication. It sounds like your agent may "feel" like they are communicating through the automated reports, and if that doesn't cut it for you let the agent know. I would bring your issues up to your current agent to either get a reason or justification/clarification for what your current thoughts are on the matter. Simply changing agents isn't always the answer.
Second, no communication is not a good thing. It is unfortunate that you have to ask but I would contact the agent or broker and find out why that is.
Open houses are useless unless it is a highly decorated home in a highly populated area with little inventory - sorry, but it probably has no value to helping you find a serious buyer in Calhoun and many other areas - Gwinnett county is a great example - for the most part it's a waste of a Sunday afternoon out of the house for the sellers.
13 weeks in this market is nothing. Hang in there - good luck.
If your price is too high, no one will look. Who priced it, you or your agent?
If nothing is selling in your area, a 12 month sold report will show this. Are forclosures or short sales all that is selling?
Pick up the phone, call your agent, ask them to run a 12 month sold report and a active listing report, invite them over and objectively review the market together.
You might need a price reduction, or their might just not be any qualified buyer traffic.
Hang in there!
Coldwell Banker Alliance
I would not waste any more time. Do some homework yourself so that when you interview the new agent, you have some information from which to ask questions and have a good idea what the answers should be.
This is unacceptable and I regret that you waited 13 weeks.
Long and Foster
RE/MAX TerraSol-Huntington Beach, Ca
Here's what should have happened in an effective business relationship between agent and client. When the agent sat with you, they should have given you some indication as to at least two key indicators: average days on market, percentage of list to sale price, Addtionally, they should have informed you of how often they would be providing you with feedback. The industry standard is a minimum of once every ten days wiht once a week being even better. 13 weeks might be normal for a sale in your market. But what is more than likely "not normal" is for you to have no showings. A lack of offers ususally indicates a risistance to price or condtion. A lack of showings is almost always a resistance to price and or condition. Not knowing what is normal marketing time in your specific location leaves everyone guessing however.
Before you decide to just "whack" your agent, call him up and ask him what you should be expecting. If you don't like the direction they are taking with you, make sure you set the agenda with the next agent and listen to what they tell you especially as it pertains to pricing.
Price could be an obstacle as you are competing with the distressed sales in the area. Are you willing to price the home competitively in order to sell?
What are the most recent comps telling you?
Are you priced aggressively?
Are you getting the appropriate exposure online with various web sites?
Have you established with your agent how and when communication will take place? (an e-mail every few weeks is a nice way to keep it simple.
These are just a few things you should take into consideration