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,
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..
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.
Real Estate Counselor
Better Homes and Gardens Real Estate, Mason-McDuffie
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,
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,
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
Office:: (408) 369-2000 x319
Mobile: (408) 768-7097
Fax: (888) 334-0888
Website: http://www.DazzleHomes.com http://associates.10913327.eco.century21.com/
419 E. Hamilton Ave, Campbell, CA 95008
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.
Have you talked with you agent? If the transaction fell through, why?
I have too many questions before I can answer this effectively.
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
RealtorÂ®, DRE License #01742179
Free Santa Clara County Market Trend Reports: http://april.rereport.com