Home Selling in 95125>Question Details

Terry Bates, Home Seller in Willow Glen, San Jose,...

status of Willow Glen Real estate. Home on market for 160 days price lowered only i offer and it fell thru.Should I change realtor?

Asked by Terry Bates, Willow Glen, San Jose, CA Wed Jun 29, 2011

the average for WG is 90 days, It's not the price is it the realtor? Is there a buyer,s realtor I should talk too.

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18
Terry, I've done a lot of research on this issue, and I have found that just about every time a seller changes their agent, they also lower the price with them.

Only you can determine if you're happy with your current agent, but in my experience, the best thing about having a new agent isn't that they'll do a better job, but that it creates new energy around the house, having new photos taken and having someone excited about the property. But you get new energy around the house by having a party, and nothing is going to change the buying public's opinion of your home other than the price.

All the best,
1 vote Thank Flag Link Thu Jul 7, 2011
How is the offer that fell through the Realtor or Agents fault. The buyer may have been a liar! and was only out pretending to purchase and couldn't make the loan or was jerking everyone's chain. This is a hard market and the Agent did what they should do, which is bring every potential buyer will to make an offer to you! Be patient and soon a real buyer will be on the hook! As for changing your agent that is up to you, but they have done nothing really wrong!
1 vote Thank Flag Link Thu Jul 7, 2011
Hello Terry, I found your house on the MLS, it's very nice and in a great location. I saw that your Realtors have all your reports posted on-line, have provided panoramic photographs as well as a virtual tour and are doing open houses. This is all good. Between Jan.- April you were priced over $700k which was a bit high considering all the repairs needed on your inspection reports that I read. I believe that you are priced correctly now and should be able to find a buyer to purchase as-is at your current asking price. If you do not have another buyer in contract soon, you will have the option of changing Realtors by either asking your agents for a cancellation or waiting for your listing agreement to expire. That is your personal decision.
1 vote Thank Flag Link Thu Jun 30, 2011
Good morning Terry:

Did things work out for you since your post in June, 2011 ?

What landed up happening?

Best regards
Ruth
Web Reference: http://www.ruthandperry.com
0 votes Thank Flag Link Sat Nov 3, 2012
I have to agree with Andrea here, Terry. The timing was just not right. Had you came on the market in say July at that price, your home most likely would have received multiple offers and be sold by now. As you've probably heard, this is now a seller's market with most homes receiving multiple offers over asking when priced correctly.
0 votes Thank Flag Link Wed Oct 17, 2012
Hi Terry,
Did everything work out eventually? Did you get a price you are happy with?
0 votes Thank Flag Link Mon Oct 15, 2012
How aggressive has your agent been in trying to sell your home i.e. advertising, Internet marketing, social media, open houses. Moreover how cooperative have you been about allowing him to show your home and/or hold open houses. If he/she has not displayed adequate initiative then you may want to consider looking for another RE professional.
0 votes Thank Flag Link Thu Jun 30, 2011
I would need a lot more information to determine whether or not a change of REALTOR would make any difference and produce better results for you. Currently we are in a very challenging buyer's market. Even the best and most experienced agents find this to be a very challenging market. Even the best agents will have transactions fall through. Even properties priced at Fair Market Value and given aggressive and effective marketing will not see a great amount of activity, compared with the activity that we would have seen several years ago..

If you only had one offer in 160 days your home was overpriced for the market. Did your agent give you accurate information about the current Fair Market Value for your home?

Next, we need to know why did the transaction fall through? Did your listing agent stay on top of the progress the agent for the buyer was making? Did the buyer have difficulty getting financing? Did the buyer's agent do an adequate job? Did the property appraise for the purchase price? Was the appraiser competent? Was the appraisal prepared in a competent manner? Did the inspections disclose unanticipated problems with the house?

Did your listing agent stay on top of the transaction and anticipate possible problems with the escrow? Did your listing agent stay in touch with you and keep you informed of the current status of the transaction?

These are some of the things that we need to know to determine whether or not your listing agent was doing his or her job and whether or not a change of agent would produce better results for you..
0 votes Thank Flag Link Wed Jun 29, 2011
Hi Terry,

I usually advise my buyer clients to look at the price the seller is asking for only as a base. Using the comps I provide, make an offer based on what they believe is a reasonable price. Problem is buyers look at the price a seller wants as a "The Price". If you price your home too high you will have issues selling your home. The price you want or need from the sale is one thing. The price a buyer is willing to pay will get your home sold.

The relationship between an agent and client is a special one. We work hard to make sure we understand the needs and situations of our clients. As others have suggested, have a conversation with your agent. If they are truly under performing, express your concerns and give them an opportunity to correct the situation. If they are suggesting something you are unwilling to try. Think about it, it may achieve the results you're looking for.

I wish you a quick and easy sale.

David Sciplin
Real Estate Counselor
Better Homes and Gardens Real Estate, Mason-McDuffie
408-647-6326
0 votes Thank Flag Link Wed Jun 29, 2011
Hi Terry,
You have received a lot of great advise here. I add my two cents to drive the main idea here of location and comps. If there is a similar home in the neighborhood, asking a lower price then a buyer is likely to be attracted to it instead of yours, unless your home has special features and location that cannot be duplicated easily.
Best to re-evaluate your asking price with the comparables in the area to see if you have priced competitively. You may also look at the average days on market to see how you fit in that category as well.
You may find that the last 90 days may be average for your area or you may be chasing a declining value that you need to be under instead of following.
Best of luck,
Christopher
01873717
0 votes Thank Flag Link Wed Jun 29, 2011
Terry,
I've been mainly working as a buyers agent and I would tend to agree with Denise and Terri as far as the agent listing your home. Now, I going to tell you right now without looking that per what you wrote right here your home is OVER PRICED, I'm sorry it is as simple as that if it isn't selling it is over priced. Here is what I think , Willow Glen does not have the greatest schools, most of my buyers want the good schools and will pay top dollar to get them. Don't get me wrong Willow Glen is a wonderful place to live, but it is a niche area so unless your home is attractively priced it is going to be difficult to sell. Now if your agent is completely incompetent and is not servicing your needs then by all means change agents, but I really don't think it's the agent, as I said if it is not selling and it has been even faintly marketed, it is priced to high, any home SELLS IF IT IS PRICED RIGHT. Sorry :(
As always feel free to contact me with any questions.
At your service,
Allyson
408-705-6578
allyson@homesbyallyson.com
DRE# 01397256
0 votes Thank Flag Link Wed Jun 29, 2011
Hello Terry~

I am going say I really do not feel it is the realtor that sells your home. We pretty much offer the same attributes. I know I may receive a lot of slake on this but it is what I feel true. If your agent is marketing your home, doing everything that is possible that every other agent can do you must look inside the home. There are buyers that want it all right now. They want the ceilings to be texture (no popcorn), counters to have a the least granite tiles if not the slab, wood floor if not wood new carpet.. If you are in a semi busy street the price must relect this a 50-100k difference from a private street. It seems you are priced correctly but perhaps do a few changes. It may be as easy as taking large furniture out de-clutter. If this is the property I am thinking you just did a price drop and are having an open house, so let this play out. Let your agent do the talk this weekend really dig in to get the feedback.

But of course it is your call everyone feels different on this subject. I feel I am correct. I have had sellers that did not listen to me on a sales price and relisted with another agent at a slightly lower price(still to high). This is after a lot of hard work and suggestions they did partically listen. Still not close to where I suggested. I give my clients an option if they want to list at a bloated price give it 2 weeks than a price drop they still would not listen. The problem with not listing correctly in any market but especially in a declined market you are chasing the market and most cases missing out. I have had clients that could of sold their home quickly but they chose the high road now 2 years later have gone through several agent and several price drops. They now really need to drop another 150K unfortunately because of the missed market. If your agent feels you are priced correctly it may be some of the inside the property situation that are turning the buyers away. The rates are still great so I wish you good luck~


Denise A. Szyszlo Realtor
DRE 01441160
Office:: (408) 369-2000 x319
Mobile: (408) 768-7097
Fax: (888) 334-0888
Email: denise.szyszlo@century21.com
Website: http://www.DazzleHomes.com http://associates.10913327.eco.century21.com/
CENTURY 21-Alpha
419 E. Hamilton Ave, Campbell, CA 95008
http://dazzlehomes.housingtrendsenewsletter.com/
http://www.schvision.com/schoolfinder2/SJUSD/
0 votes Thank Flag Link Wed Jun 29, 2011
Terry - There certainly are main reasons homes don't sell. In my experience, the three main reasons, are price, condition and marketing. If all three of these are in balance, your home will sell! If your Realtor is doing everything they can to expose your home in as many places as possible and to as many agents as possible (as this is the best access to the largest number of buyers), then it could be price or condition. Since I haven't seen your home, I couldn't tell you. However, I would simply ask your Realtor what they have done to market your home. Chat with a few other top agents in the area and see what type of marketing they do to expose homes they are selling, etc and compare notes.

I would also caution you that we are in a very difficult market right now. Lending issues are keeping deals from closing due to newer stricter guidelines. Of the 20+ homes that I have sold thus far this year, not one of them didn't have an extraneous circumstance that we had to work through. Often these issues are related to the condition of the home and how the seller sees the issue, versus how the buyers sees it and then of course the all mighty lender :-) It is critical that you have a team (your agent, buyers agent, lender, etc) that are able to communicate extremely well and understand that there may be some challenges that you will have to work through.

I have a lot of questions I would want to ask in order to answer you fully, but the above are two major points to consider.

Below is a link with good information about how to price your home. You can also find other great info about preparing the condition of your home for sale.
Shannon
0 votes Thank Flag Link Wed Jun 29, 2011
Sorry, I thought you were a buyer.. But still check the comps, your listing might be too high! LOCATION LOCATION LOCATION can also be a factor
0 votes Thank Flag Link Wed Jun 29, 2011
Why do you say it's not the price? Average days isn't the best gauge. Each home should be evaluated individually. Lower price homes sell quicker and higher price homes take longer and average combines the two. The value of your home is where you should be comparing. You can always talk with a Buyer's Realtor, understand that most agents work both listings and buyers.

Have you talked with you agent? If the transaction fell through, why?

I have too many questions before I can answer this effectively.
Web Reference: http://www.terrivellios.com
0 votes Thank Flag Link Wed Jun 29, 2011
was your offer too low? Before you change agent, have your agent pull up sold properties in the area and resubmit your offer. Sometimes its thing that the agent can not control. You will know if you have a good experienced agent or not.
0 votes Thank Flag Link Wed Jun 29, 2011
Hi Terry,

It is hard to truly provide you with feedback without knowing many details. You have hired your realtor to market and sell your home. Have you had a discussion with your Realtor to share your concerns and discuss pricing strategy. Pricing is a major component but not the entire picture. Have you done all that is reasonable and possible to present your home in the best light. Has your Realtor provided you with feedback on ways to better present your home? Ask your Realtor to confirm how he/she is marketing your property and what avenues are being used.

Only you can make the decision, but if you are not being heard and not receiving the services you need, it may be time to find a new service provider. Revisit your listing agreement before making a final decision.

All the best,
April Tavares, GRI, ASP
Realtor®, DRE License #01742179
Montalvo Realty
Direct: 408-309-5471
Email: April@AprilTavares.com
Free Santa Clara County Market Trend Reports: http://april.rereport.com
Web Reference: http://www.AprilTavares.com
0 votes Thank Flag Link Wed Jun 29, 2011
No, you should remain loyal to your realtor and work through this that person. You can not blame the agent for the market or the sellers actions. That agent has stuck through this with you. How were you to work with? It is a two way street.
JoANN
Web Reference: http://Gteamreo.com
0 votes Thank Flag Link Wed Jun 29, 2011
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