The point is that you lost your trust in your agent.
It doesn't matter whether your agent works for a large real estate firm or a boutique brokerage; what is important is your trust in your agent and his qualifications. As with any professional you hire you need to check his credentials. A good agent will not overwhelm you with numbers and papers but show you what the market in your area is like using statistics and explaining them to you. How your property compares to others in the area and in this market recent (last 3 months) sales of similar properties so you understand the market and can work as a team.
A property that is priced and promoted well should not be on the market without any showings or phone calls. How is your agent advertising your listing? If you have an agent who solicits listings but doesn't work to get them sold is not the agent you want to work with. Good luck finding the agent you can work with. There are many agents who are working hard to sell your property.
Signature Homes and Estates
Rather than taking the time to interview three agents in person, I recommend that you speak to the agents on the phone. Let the agent lead the conversation, and take notes as the agent asks you questions. Agents who know the market will not even bother to come to your home, until they have found some basic info and determine if it is possible to sell your home.
The agent should gather information to prepare a "seller's net sheet". To do this, the agent will ask you how much you owe on your home and your monthly payments and condo fees. The agent will then generate the price where you can break even on your condo after you pay all the taxes and fees associated with selling your condo. If the agent does not ask for information to do a seller's net sheet, then don't even bother to meet with the agent in person.
The seller's net sheet will be used to determine your break even sales price. The break even sales price can be compared to the sales in your building and throughout Bridgeport, and the price that you listed your condo over the past year. It may be that you owe too much money to break even in this market. In that case, you will need to decide if you are willing to take a loss when you sell.
These issues can be discussed with the agent AFTER the seller's net sheet is prepared. So, there should be at least two phone calls (or a phone call and email) before you schedule a time for the agent to meet you at your condo.
Marketing plans are nice, but the condo market is slow in Bridgeport and McKinley Park, and the ability to sell is condo is driven by price. The agent should get your listing online, so you need to ask the agent what they will be doing to get your listing online.
The Lincoln Park and Bridgeport is totally different real estate markets, so you will need to work with an agent who understands those differences. When you interview the agent on the phone -- ask them about those differences and listen to what they say. There is no need to fight or disagree with them. Just listen and compare their answers to the answers you get from other agents.
Also, if you live in one of the bigger condo buildings, call your management company and find out if your building is FHA approved. The agents you interview on the phone should ask that question during your first phone call, and you will want to be prepared with an answer.
Sounds to me as though you are working with an agent that heads a team, which is not at all a bad thing as long he/she has communicated clearly what you will experience. Whatever the structure or approach, in my estimation it must be formed with an eye towards what will serve the client best. That all starts and ends with setting expectations, communicating clearly and often and top notch servicing each and every day.
You've gotten good advise from others on what to include in your interview this go around - I credit you for taking the time to review credentials and consider several before making you selection. That was very smart so be sure to do that again. In addition to what has been recommended to include, I would add - write down the things that have disappointed you this go around and cover those as well so you don't experience the same thing again. Have measureables and outs if they are not met.
The most important thing in this market is getting the price right so be sure that a detailed and credible pricing analysis and recommendation is part of the plan.
Best of luck to you,
Unwavering Commitment to Service
Most buyers and sellers do not have a vast real estate back ground to draw from when dealing with real estate transactions. Your experience is a common one but one that has provided you with valuable information.
Regardless of whether or not you change companies there are several things that come to mind that should be considered as you make your decision to move forward.
First, we recommend that all sellers require a written comprehensive marketing plan from the agent the elect to work with. This document should outline all of their personal maketing initiatives as well as their companies. It should clearly identify what they intend on doing sell your home....it must go far beyond listing it on the MLS and putting a sign in front of your home. Look for a huge internet presence, ask about their personal sales voolume in the past 6 months as well as their company's annual sales volume. Do they do open houses? How do they promote themselves and how do they network? You should insist on regular feedback periods...even if there has been no showings. This is an excellent time for them to explain to you what they have been doing to promote your home.
It would be fair to assume that is they are not contacting you to share information that there's a good chance they are doing nothing.
It's my opinion that you should try to identify the company from your specific location that has the highest degree of visibility and good sales volume. You can reasonable expect that larger companies with more agents and a high degree of visibility will greatly increase your chance for success.
Additionally, if you are serious about selling your home listen to the agents carefully about pricing. Review the comparison properties and ask questions but don't fight the recommended "listing price." This will only be counter productive and stand in the way of finding a buyer.
The three major factor in selling anything are:
1. Price- it's where all buyer begin their process. If you don't get their attention here you've lost them and buyers today are all seeking value.
2. Appeal- curb appeal is critical! "Make your home shine" inside and out. It WILL make a difference in both attracting buyers and your sale price. Investing a little may return a lot.
3. Visibility-It's commonly accepted that 90% of today's buyers at some point use the internet in their search. Make sure your agent and their company have a large web presence.
Ruby, you can help make it happen by making sure you are working with the right company and the right agent as well as insisting on them being accountable for their own marketing plan.
I would highly recommend that you pay $250-$350 to a licensed appraiser in Cook County to give you a very accurate asssessment of value for your condo.
Once you have the appraisal value, then interview at least 3 Realtors and do not tell them the appraisal value and ask them for a Comparative Market Analysis. If you get a Realtor suggesting too low or too high of a listing price then you may want to eliminate those realtors. You see, some Realtors intentionally overpromise a higher than market price to get the listing contract signed. Once you've signed the contract you are locked into that Realtor. If you see too low of a price then you have to be careful, too. Some agents want to make a quick and easy sale and don't really care if you sell for thousands less than you might have. Most agents are honest and will work towards your best interests but there are a few less than ethical realtors out there.
Hope this helps.
You definitely need to start over. Get referrals from friends/family and interview at least three full-time Realtors in your area. Ask for their market stats, actives, pendings, and sold listings in the past 90 days. Have them give you a market analysis and a full marketing plan, so you know what they will do to get your home sold. Choose the agent that you believe will get the job done. One more note, because you were actively listed for three months with no showings, your condo may have been priced too high as well, so you may want to consider a lower price. The market analysis will tell the story. Good luck.
Licensed Associate Broker
Accredited Buyerv Representative
GREEN Designated Agent
Legends Realty Group
Sounds like you have a communication problem with your agent or their team. Your bottom line is to sell the home. I would interview three agents and maybe include your current agent in that mix. Put them on notice that you are not happy. Team or no team doesn't matter if your are not getting the service that you need. Ask them all the same questions and then compare. Set out your expectations right from the start. Pick and agent based o their marketing plan and not on what they are going to list your home for. I am a relocation agent and I have to compete with three agents on almost every listing. It keeps me on my toes.
Ask them how many years they've been in business (less than 5 and I'd move on) Ask if they'd buy a home warranty for your home. Do they have a website- ask for a traffic report. Do they blog?
These are all things that well experienced professional agents tend to do and if the agents you're speaking with don't do the majority of these things, then keep looking.
Now you have to know what you are looking for in an agent in for you to choose
the right one for you. What are your needs? If Bridgeport is one of the hard hit foreclosure
cities you may consider 1 of the deciding factors to be the agent needs to understand the nature of the current market. L can refer some great agents that cover your area.
Best of luck,
You are the customer, you make the decision on product and services.
Do what Donald Trump would do....You're FIRED!
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Top Value Group
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Best Of Luck To You,
There are a lot of questions to ask.
Keller williams Realty Cenla Partners Alexandria La.
PLEASE SEE MY BLOG "NO ONE IS LOOKING AT MY HOUSE" for tips on how it can assist you selling your home
A house priced properly initially will sell faster and in the end at a higher price than one that is priced too high and then reduced. Your best time to be viewed is during the first 15 to 30 days of listing. If it is priced right it will be viewed by more people able to buy it but if it is priced too high you will be missed being seen by that group.
My advise is that you get an agent that will personally deal with you who will also price your home properly to sell. 90 days on the market these days is not too long a time but properly priced it will sell faster.
Through the broker's team, you may ask what the time on market has been, or how many like type properties have sold during the time you were listed. I will say without fear of contradiction, if your property was priced too high that in itsself would be a reason why it was never shown. Only you know the answer to that. You don't mention if there was ever an open house or two.
I would suggest that you do use a local broker. They will know the area, schools, transportation, etc. and they may also have customers looking for what you're selling. Best of luck with your decision.
It will be great to know whether your agents team did any marketing, held any open homes, etc.
If no Open Homes were done then clearly you need a local agent.
Clearly, when you listed the home an agent from the team must have come over to go over your home, sign papers and get your home ready for listing. Generally, on big teams you have specialists.
But also check whether your home is well priced and shows well.
Good luck with your decision.
Working with buyers and sellers is a relationship business. I find it hard to believe that your agent never even met you in person! How did your listing paperwork get signed if you never met with the agent? I think if I were you, I would get a referral for a good agent from your friends and neighbors who have had a great experience with their agent(s). An "agent" is a representative standing in your place to get your condo sold. We have a fiduciary duty to serve your best interests.
Good luck with your next real estate agent!!
I'm going to take a different approach to this because I've been the agent who never met the seller. It's nothing personal, and in fact for me to have a team of 11-12 people means I am obviously doing something right in getting homes sold. This approach is a numbers game, and generally the agent who is "in front" or "advertised" is not always the person from the team that you meet. Many sellers do not like this, and I completely respect that. When I don't meet a seller it is much easier to stay less emotionally involved, which is what Realtors are supposed to do. Would you rather have the opinions of 20 agents from the office who may or may not care whether or not a fellow Realtor's listing sells, or 6-10 opinions of people who will only get paid if this home sells?
You can look at the situation many different ways. How many of the people on the team are tasked with selling your home? Can you get that many people working together to sell your home for the same commission elsewhere? I've generally found that the only way homes don't sell with an agent who operates a large team is because something is wrong with price, or the home itself. This is just my experience, but if a team of 10 or more agents can't get the job done how is 1 going to do it... because they are more personable? In most cases, the only time the 1 agent who picked up the expired listing is able to sell it is because the seller came to terms with the price being too high. All the agents in the world won't overcome an unrealistic asking price.
I understand your frustration. Actually, agent office location and the agent specialized area or neighborhood are irrelevant as long as the agent is knowledgeable in the neighborhood and willing to do the work. However, in your case, it's different. You need someone who can communicate with you, set expectation, and get constant updates.
Secondly, price correctly is important to sell. It should also be a relative price adjustment based on the market movement. Selling a condo nowadays is not like the old days. There are plenty of inventory. You are only competing with the regular market, you are also competing with distress properties as well. There are so many foreclosure or short sale properties out there. You have to price to sell.
I am very familiar with Bridgeport. Selling condo in Bridgeport is tough but not possible. I sold one there in the beginning of the year after sometimes. I received one recently and we market it very aggressively. We price to sell.
Please let me know if you need any help.
Conlon Real Estate
It is difficult to say whether to stay with the current agent or go with a new agent. The team approach is usually very sound. I think i would ask the current agent for a breakdown of how he was marketing the home. In these time, even the best marketing still may not produce a buyer. it usually comes down to price and condition. Have any other units sold in your complex and if so what is the market time? Is there someone that specializes in Bridgeport? I think it may be time to interview an agent that lives and knows your area. Good luck!! Jim Muenz Seattle WA.
Good luck whatever you decide.
I will not tell you what to do. That is your call. I wish you the very best of luck.
One of the main reasons that a property does not sell is that it is priced too high for the market.
Century 21 Crowyle Braese
Keller Williams Atlantic Shore Realty
Although there are lots of reasons to stay with an agent for six month to a year in this market and in certain situations, yours is not one of those situations. You have mentioned a number of red flags here. In this case the team has not been to your benefit but has caused you to be lost in the shuffle. They may value Lincoln Park neighborhood more than Bridgeport.
You may need to take some responsibility as well. Did you take their pricing recommendation or want to start at an overprice point hoping to match value during the peak? Do you owe more than it is worth? Maybe you need to talk to a financial adviser about a short sale.
I would look for a referral of someone who has a solid track record in your community and go with their advice. Ask friends, advisers or a broker you trust from another market to research who is successfully selling properties in Bridgeport.
Interview a new agent and asked how many homes did he/she sell this year.
Let it be known that you expect direct contact with the listing agent and weekly reports on # of showings, list of marketing material and what he/she plans on doing differently than putting up a sign and entering the listing information into the MLS.
While the internet is a great resource to find an agent it is always best to meet several (at least three) face to face and interview them. You are paying for a service and you will be entering into a contract for that service for three months (six months to a year in some areas) so it is important that you hire someone you like and trust. and no it is not normal for the listing agent not to come to meet you and see the house. Best of luck in getting your condo sold.