I have read the other posts, all people trying to help you with good advice.
There is only one thing you are missing.
If you look at the link below, the market values in your town are going DOWN. 30% in the last year.
So why your have caused your home not sell (because you set the price), you are blaming the Realtor?
How do I know? Because the same link shows that almost 5,000 homes have sold recently. So other homes are selling and not yours, what could the problem be?
Buyers buy VALUE. Value is most easily added by lowering the price. The are other things to do. but in your case I would be worried about losing more money.
The CDOM will stay with the property. Change agents, do what you like, it's your record. But even if it were a NEW listing, if it were over-priced, it would not sell anyway.
The questions I would pose to your agent are:
Since my property hit the market, how many homes, like mine, have:
come onto the market
lowered their price
Then ask them what it will take to get your home sold.
"A Realtor can still put it on other web sites and do all other types of marketing during this 60 day period."
"Many experienced Realtors will check the past history of the listing in the MLS if their client has interest, and discover the past days on the market anyway. In the present buyer's market CDOM doesn't carry as much "scare" weight as it does in a seller's market."
It depends on how concerned you are about the DOM thing on pulling the house out of the MLS. You can't blame that for the reason your house didn't isn't selling, and as Terry has stated most buyer agents will still go to the history on the house. Terry has also stated that a Realtor can place it on other sites during the period while it is out of the MLS. You can also do as I did. After my agent dumped me in Sept of 07. I decided to wait until the first of the year to re-list with another agent. However, I did a FSBO in the interim doing as Terry had suggested that a Realtor could do by splashing it all over the internet. I got the call right after New Year's Day. Dale does make some great points about positioning yourself with the competition. However, worrying about DOM is like putting the cart before the horse. You obviously have a high DOM because the house isn't selling. Your house isn't selling because it has a high DOM. Everyone wants to blame the agent, and in this case, who knows, maybe some of the blame should fall there. My guess though, as Dale has implied, the house just wasn't one of the best values combined with as Terry mentioned the credit in that part of town being an issue.
I do agree that you should talk to the agent first & discuss with them why you don't fee that they are being agressive enough. Be prepared for an honest discussion. In this market, it is not just marketing, it's also how your home is positioned in the market. How does your home stand out from the competition? Are you priced correctly? Is your home fixed up better than the competing homes? Have your current agent do a CMA to show you how you stand compared to your competition (not just the solds) and then ask to be taken on a tour of your competition. Honestly look at your home's faults against your competition - what can't you correct - busy street, steep yard/no yard, no garage when neighbors have one, not as desirable neighborhood, etc. Then look at what you may be able to correct - does your home need a bit of staging enhancement; do you need to seriously clean or repaint an area; leaking basement; check curb appeal?, etc. Seriously look at where homes are actually selling , not just where you want to sell at or feel that you need to sell at. You must work with your agent to position your home for success.
Now, I just did the stats for the St Louis metro area to send out to my clients (I have a lot of South City clients) and I'd like to give you a few numbers to think about:
in 2004, in the SW area of the city 1829 homes were sold; 812 didn't sell; ave list price was $131,034; ave sales price was 127,526; ave days on market was 48. In 2006 that changed to 1650 homes sold; 1350 didn't sell; $142,570 for the ave list price and $138,264 for the ave sales price; Days on market was 65. In 2008 (through middle of Dec) that became 1304 homes sold; 1199 didn't sell; ave list price $133,329; ave sales price $127,665; ave days on market of 87. These numbers are from the MLS systems so foreclosures & short sales are included in these numbers but fsbos are not.
When you talk to a realtor, ask what they do vs what their company does. Ask how they personalize their typical marketing plan for your home and your needs. You will definately need on line exposure since the first viewing any more are virtual on line, not in person in your home. Realtors may tell you that they will list on over a thousand websites, but in reality, once your home is in the multilist (MARIS) database all the local brokerages and realtors who have the shared IDX listings on their websites will pick it up and have it, so that's how they get those high numbers. Some will list on the many for free websites out there, but many of those sites really don't have any traffic. You want to be on line, but you want to be on Realtor.com with an enhanced listing (multiple pictures), on Trulia, Yahoo, Google - the biggies where the buyers are. The big brokerages in town pay for that kind of exposure for you. Being on the little bitty sites where no one goes unless you specifically direct them to the site doesn't do you any good.
There are a lot of us out here who can help you, but seriously, I don't know who your realtor is, but I would suggest that you talk to them first. They have invested time and money in your home already. They want to get it sold as much as you do. Talk to them about your frustration and work together - you might want to consider taking the home off the market for 61 days then relisting with the same agent to get your days on market down to zero and during those 61 days work with your agent to breathe new life into both the marketing campaign and after viewing your competition (it will have changed from when you listed your home 6 months ago) updating your home to better win the beauty contest and take home the winning buyer. If when you talk to your agent, they aren't receptive, then give several of us a call and let us come talk to you about our marketing campaigns and how we would help you to position your home to get it sold. Then decide. Good luck!
The Best Seller GMAC Real Estate
But, I strongly urge that you and your present agent have an understanding of why your homes hasn't sold.
Below is a link to my blog on doing a FSBO. While I'm not recommending one way or the other on that, the blog does contain some marketing ideas that you might be able to use to supplement your current or next agent's efforts. However, anything that you do on your own in that regard you should advise your agent of before you do it. BTW, the couple that bought our home sold their 2 family flat FSBO. Their house was in the Chippewa & Kingshighway area. Also for what is worth, I liked Terry's answer the best ,including mine.
If you do decide to change agents, the link below is to my blog that may be of some help in doing an agent interview.
Depending on your location in South St. Louis City it may be hard for any buyer to get a loan as lenders seem to be making it quite difficult lately in areas of high foreclosure risks, which makes marketing even more important to find a buyer who can pass the lenders standards, but could also take longer. In the last year my listings for sale (not rental advertised) in South STL City seem to be attracting more rental inquiries than buying inquiries through the calls from the "more info" sign posted in the yards. You need to find out what the average days on the market is until receiving an accepted contract for your area, condition, size, type and price of home and what type of advertising your Realtor is currently doing to make an informed decision. You can visit my web site to see the types of marketing I do to compare. You can also contact me through the email link on my web site if you have any further questions or to discuss your home and situation in greater detail or if you would like a market analysis of your property.