Fire your agent.
You should not need to manage your sale and pay for inefficiency as well.
Make sure you do inform the company of this poor performance.
All the best,
Today every single day counts. If you don't feel he goes extramile - change the agent.
2 things are very important:
be realistic about current prices and market trends and work with somebody who really CARES.
Call me, if you have any questions:
Irene Borz, Countrywide approved REO Broker, licensed in California since 1997:
Web Reference: http://www.bankownedhomesandlots.com
The first sentence above contradicts the last. Either the agent is greedy or isn't. You need to talk to the agent. Obviously you are not communicating.
The problem could be the agent's communication skills, not his work ethic. If you and he are not on the same page regarding the list/sale price, that would be a different issue. You indicated that your relocation company would reduce the home approximately 20% once it goes into inventory. If the agent believes the home is currently over priced by 20%, I think you've found the problem. The price.
Who set the price?
You can feasibly still save your company money on the buyout, just maybe not as much as you'd intended.
Why wait for day 60 and the relo company to reduce the list price on the house? Here's a question I love to be asked as a realtor myself--"what do you think it will take to get this home sold in 60 days?" It's a proactive type question and begets a game plan. Go with a plan. . .
Corporate relocation companies usually have preferred working relationships with brokerages, so in all likelyhood the listing will change anyway.
Work together with your agent and try to clear the air remembering the reasons you chose the listing agent in the first place.
As a Listing Realtor, I give my sellers full service. I give them a weekly update of activity around their property. I email them a weekly CMA. Then I have a phone conversation with them about the recent activity. They can see what their direct competition is. That is truly the way to know what the buyer's are willing to buy right now. Again, if the comps support your price and you have plenty of time and you know your absorption rate of time on market, you can tweek it as you go. It is proven with statistics that pricing a home right out of the gate is more important than anything else. The buyer activity is the greatest in the first 2 weeks than any other time on the market. Again, if your agent does the "Reverse Prospecting" to see how many buyers are in the MLS system looking for homes in your area and price point, you can make the most of your time on market to get it SOLD. Good luck with the sale of you home!
Sheri Mapes the "Cincy House Expert"
I just read this and your other post and I agree that you need to have a meeting with your agent. He/she should be updating you at least every 10 days with the market activity on your home. If you are really not satisfied you do have the option of selecting another agent from the same brokerage. Sometimes a particular agent is just not a good fit.
As for the appraisal value, it depends on what the appraisal was for. Value, refinance, insurance, taxes. Each one of these will have a different value and each appraisal by a different appraiser will be somewhat different. In the end, the market will tell you what is a good asking price by its feet. In other words, if your home is being shown regularly its a price that is attractive to buyers. Otherwise buyers are seeing it and bypassing your home because it doesn't present a good value compared to the other homes available.
Good luck and I hope everything works out for you.
Prudential Tropical Realty
The above is from Pam's post, and she brings up some very good points. I would like to also ask, has the house been put on a brokers' tour? I really think you need to call a strategy session with this agent, the managing broker, yourself, and your husband. find out what exactly has been done to date. During the session I would subtly imply that they should at least satisfy your expectations on effort, or you are going to notify the corporation of your dissatisfaction with the level of their service.
Below is a link to my blog. In no way whatsoever am I suggesting that you go FSBO. However, there may be a few ideas in there for you to do on your own to supplement the marketing of the house. If you think about doing any of it, it is essential that you check with your agent first, and use the agent as the contact person. Good luck.
BTW, do I think there is a possibility of this agent coasting? What do you think? :)
My question still stands. Do you think that our realtor is just biding time until the corp. takes over, knowing the price will drop and it will be easier to sell?
Working hard and getting results are not always congruous. If your home is getting shown he probably is working harder than you think. We are in a tough buyers market. We have lots of inventory in most regions, very motivated sellers, low interest rates, but we are missing an important component-the motivated buyer.
As an active listing and selling agent, I can tell you a lot of time,money and energy is spent on my sellers behalf and rarely do they know how much. I can communicate with them and give them all kinds of details about the market and what I'm doing to market the home, but the only real measurable result is showing activity. If your home is not getting shown ask why.
Since you are part of a corporate relocation make sure you are being realistic and not greedy. If your company is paying closing costs/commissions etc make sure you are aggressive with your price and terms. I've seen too many corporate relocations where sellers attempt to "double dip" from the buyer and relocation deal and the home stays on the market far longer than if they took advantage of being able to sell below market value, quicker and not really cost themselves any money.
Communicate with your agent. If they truly aren't working hard you'll know by how much information thay can or can't provide. But if your expectations are unrealistic no amount of hard work will make you happy or get the results you want.
Interesting that you say that the corporation will drop the price to $150K less than what it is listed for now. How did you come up with the current list price? Did you choose it, or did your real estate agent do a market analysis to justify the price? Did you take into account whether your house is in a declining area?
About 80% of the marketing of a home is the sales price! You could hire the most talented marketer in the world, but if the house is overpriced, it will not sell. Especially in this market, buyers are really savvy, and are negotiating fiercely. If given a choice between an overpriced house, and a house that is perceived as a better value, the better value will get the offer every time.
If your listing agent went with a price that you wanted to get, rather than what the market would bear, then you might be right that he is hoping to pick up the listing for a realistic price from the corporation. It is not in the seller's best interest to market a house at the wrong price.
It is time for you to have a open, honest conversation with your real estate agent about your feelings and suspicions. Ask to get an updated market analysis, and an accounting of the marketing already completed and the marketing planned. If you are not satisfied after your conversation, you can speak to the real estate agent's manager. Still no solution? Then review your contract to determine what the ramifications are of cancelling the listing.
Be direct and have a open and serious conversation with the agent that outlines all of your concerns. Allow them to lay out a plan to correct the problems before you ask for your listing agreement to be cancelled.
It may be adventagious to request the agents manager or broker to be present.
Be prepared to hear about how bad the market has been. Don't allow this....bring them back to reviewing their marketing plan for your property.