Home Selling in 48332>Question Details

Sam, Home Seller in Michigan

I currently have my house listed for sale with no showing and no action by my agent to get traffic.....

Asked by Sam, Michigan Wed Jul 2, 2008

I am looking for agents expert in renting house -on lease 6 month/1 year and working with relocation company....

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14
Sam, are you still under contract with your current Realtor ? If you are you need to speak with her about your concerns. I understand you are not happy, but just having it in the MLS should have brought some showings if it is priced right. Some agents ( not saying yours) are not as tech savy.
However that would be the proper thing to do.
Realcomp allows for listings as rentals to be entered.
2 votes Thank Flag Link Wed Jul 2, 2008
Hi Sam,
I am dissapointed that 3 Realtors answered your question without even asking if you are still under contract with a Realtor. Good job Missy, your answer was both correct and highly ethical. Hope to be able to do business with you in the future. Sam, when you are not under contract with the agent who has/had your house listed, then interview agents to get several opinions about the best solution for your situation.
Good Luck,
Fred
1 vote Thank Flag Link Wed Jul 2, 2008
Dear Sam,

There are alot of leases / houses out in the market at this time as I am sure you are aware. In this market, the bottom line is that price is the name of the game. I believe that web marketing is crucial. The more photos, text and websites the better. However, all the hits in the world won't sell a house that is not competitively priced. Buyers ask for the moon these days and usually get it. My partner and I deal with relocation companies all the time. We are "A" rated Max Broock Relocation agents. We're happy to help. 248-931-9234
Web Reference: http://www.KerryWysocki.com
1 vote Thank Flag Link Wed Jul 2, 2008
Sam,

Ask your agent to review the price of the listing by looking at the price recently sold homes in your location sold at. This should shed some light on your issue.
0 votes Thank Flag Link Tue Jul 15, 2008
Hi, Sam--Speaking from experience (two years listing with two different realtors), the agent makes a BIG difference. Our first one listed us on one site and did little marketing . The new one was very Net savvy (and knew how best to list the features of the home) and we got more hits per week than we had in THREE MONTHS. The first was always negative and argued with me on everything. The second was positive (but realistic) and is doing a great job in the WORST market since the Depression.

And I (respectfully) disagree with those who think the price is everything. We've had three offers and they all started heavily under the asking price, so that number is arbitrary--buyers will offer as little as they want and do not care about your price.
We negotiated back and forth till we agreed on a price. However, the banks have gotten so paranoid they have overcompensated for the loose standards and now hardly anyone can get approved. (Like it's our fault!)

We accepted two offers in the last quarter and both fell thru due to lack of financing! Agonizingly frustrating, so we are looking to lease as well, if possible. Don't give up and definitely talk to your agent or switch if you're not happy! Best of success.
0 votes Thank Flag Link Tue Jul 15, 2008
Sam, in California we have a form that allows us to cancel a listing for a seller. That form specifies if any funds are due from the seller when cancelling. Make sure that you have the listing cancelled in writing and your costs associated with cancelling the listing, if any, should also be in writing. By the way, I still think you should talk to your agent -- Good Luck.
0 votes Thank Flag Link Thu Jul 3, 2008
Sam, to answer your last question, just ask for it. You can visit my web site to check for simialr houses and what they are priced at for comparision. You don't have to register to search the MLS, go to "Property Search", then select the third option "Search for a property in your area". That might show you why you are not getting any showings.
Good Luck,
Fred
Web Reference: http://FredPoehlman.com
0 votes Thank Flag Link Thu Jul 3, 2008
Thanks to All for your replies...How can I have unconditionally withdrawal so I can get another agent.
0 votes Thank Flag Link Thu Jul 3, 2008
A Paul -- you'd be surprised just how much a Realtor actually must do to list, promote and close an escrow on a property. I good realtor doesn't burden the seller with all the activities -- after all, that's what we are being paid to do. That being said, all a seller has to do is ask. If one of my sellers has any concerns, I make available all ads, dates run, mailings sent, websites posted to, recap of any calls received, feedback from local realtors, and information on current market conditions in the area. It is quite possible that the realtor is doing the work, but perhaps market conditions aren't strong, the property could be overpriced, etc. Sam, talk to your agent.
0 votes Thank Flag Link Wed Jul 2, 2008
I am not a real-estate expert and am only trying to buy our second home.
However, in today's tech-savvy market, I could see only two functions of a listing agent. (1) List the house with MLS (which probably any body can do) (2) Open the door and show the home if some buyer is coming without an agent. Some help from the listing agent might come handy during the time of closing.

Hence my judgement is that a listing agent has hardly any role to generate buyers-traffic to a listed home. As someone pointed out in this post, pricing is the most important factor to generate traffic, especially in a down market. Talk to your realtor on the price-point, she might not be assessing it right too.
0 votes Thank Flag Link Wed Jul 2, 2008
Hi Sam,
Honesty is always the best policy and communication is always important. If you're still under contract with your existing Realtor I'd suggest you speak frankly with them, pointing out your concerns. I'd be direct about what your Realtor be doing to generate activity on your property and what they feel you may need to do from your perspective, including reducing the price.

If your listing has expired or you've been released from your existing contract then I would make sure that you were clear with your next Realtor about your expectations - both for their efforts and for the expected result. Contact me directly for more information if you are no longer under contract.
0 votes Thank Flag Link Wed Jul 2, 2008
Yes, there are laws and the realtor code of ethics that apply to all realtors regarding giving advice. So, first of all try meeting with your realtor to discuss your concerns. Perhaps the brokerage house you have already contracted with has a relocation department or can refer out to an associate or affiliate. Also, ask your realtor about recent sales in the area and how your home compares. Price adjustment may be one solution. Staging may be another. Financiing incentives yet another. Ask your realtor what s/he thinks would help in the marketing of your home. Ask if s/he could get a broker's price opinion from other local realtors to help you in determining if your house is priced right as well as how it shows. Ask for an opinion on what would get your home sold fast. Be prepared to hear news you may not like.
0 votes Thank Flag Link Wed Jul 2, 2008
Sam
I suggest that you ask a couple of REaltors for an evaluation of your property, including potential sales price, potential rental income, and also a market analysis for both rental and sale.

There are pros and cons. Just based on your post I don't know if I would recommend a short term lease if your plan is to put it back on the market in six months. Markets tend to take more than six months to shift. If your plan is flexible, you might also check with your CPA on the impact of renting on your tax picture. We had to rent when we could not sell and ended up keeping the property for a rental for 18 years. It was a great expierienc.
0 votes Thank Flag Link Wed Jul 2, 2008
Keith Sorem, Real Estate Pro in Glendale, CA
MVP'08
Contact
Hi Sam, Be happy to assist you. Feel free to give me a call. 248 797-5511
0 votes Thank Flag Link Wed Jul 2, 2008
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