Home Selling in West Valley>Question Details

Sheela Dc, Home Seller in Boise, ID

Please give me your expert evaluation of my house in West Boise, currently in the market. The price has been

Asked by Sheela Dc, Boise, ID Sat Oct 27, 2007

adjusted twice since its listing in September. I have had four showings so far. I bought this house in April 2006. The MLS# of the house is 98326512. Please take a look and give me your advice.

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8
Whoops, I'm sorry. I was mixing up this franchise with another one. There are so many now. I just tried searching for the one I was thinking of and could NOT verify which one it is. The commercial I keep seeing is a middle aged/older couple sitting on the couch and thanking the company for saving them money. Even the commercial looks cheap, in my opinion. But the company you are using, Sheela, says that they are offering you FULL SERVICE for a discounted price. The problem is still PERCEPTION.

I tried pasting my earlier post again so I can delete my wrong information. But the links don't work and I keep receiving an error message. So I'll have to leave the old post up here. What I should have said was the following:

Sylvia is correct. One of the reasons you might not be having as much luck as you should is because you are using a discount company. To other consumers, this is perceived as "being cheap" and to other full service Realtors they are a threat to their way of life. I have not used Assist-2-Sell before but I have used three different discount companies. There is absolutely a tendency for traditional Realtors to boycott them and the majority of buyers use a full service buyers agent. With as much competition as there is now on the market, it is easier for an agent to skip your home. Take a look at your listing agreement and see if it says, "Cancel at anytime." Interview at least 3 full service Realtors from different companies and get a competitive market analysis (CMA) from them.

For immediate action, join the National Open House scheduled for Nov 4th. You can sign up FREE at:
http://www.National-Open-House.com. If you email me, I can send you the press release for you to take to your local media.

Please link to the other posts on my previous response.

Happy Reading and Learning!
Ruth
3 votes Thank Flag Link Sat Oct 27, 2007
Ruthless, Other/Just Looking in 60558
MVP'08
Hello Sheela:

Like Ute said, it is very difficult for any reputable REALTOR who are not familia with the area to look at a listing and tell you how the price compare with others in your area.

Your FULL SERVICE REALTOR should be able to advise you on the correct pricing, market condition and provide full scale marketing for you (being on MLS is only a very small part).

Out of curiosity, I went and checked on your listing. GREAT HOUSE! One of the glaring thing I see in your listing is that the highlighted scrolling message on your listing does not advertise the strength of your listing but says:

'SMART BUYERS USE ASSIST-2-SELL AND MAKE THOUSANDS OF $$ call for details'. Just in case this changed, I want to specify I saw this just now on Realtor.com

I would think your agent want to HIGHLIGHT YOUR HOUSE, not how a BUYER can save tons of money by using ASSIST to SELL, unless you gave him/her permission to advertise; which does not make sense at all!

You did not consent to this just to get a discount, did you? If so, think about how much you might be losing on the sale of your home.

http://homes.realtor.com/search/listingdetail.aspx?mlslid=98…

Sylvia
3 votes Thank Flag Link Sat Oct 27, 2007
Sylvia Barry,…, Real Estate Pro in Novato, CA
MVP'08
Contact
Hi Sheela. I don't think a real estate professional should render an expert opinion on a property by merely looking at a listing detail. An agent could give you an idea of whether it's priced right just based on experience and knowledge of the area, but even that should only be done after having seen the property in person.

What does your agent say? Are you suggesting that your agent is not doing his/her job? Obviously, you want to know why you are not getting more showings and why you haven't received any offers yet. If you believe that you are not represented by the right agent, you can ask another agent to give you an opinion. It's alright for you to contact another agent. It would just not be ethical for another agent to try to solicit your listing while it is still listed with another agent. Good luck.
Web Reference: http://www.theMLShub.com
2 votes Thank Flag Link Sat Oct 27, 2007
Ute Ferdig -…, Real Estate Pro in Newcastle, CA
MVP'08
Contact
Thanks all, for your expert advice. I have a clearer picture now. I went with a discount firm because of my situation then. I am in a better situation now and can afford a full service firm. I totally agree with giving buyer incentive, rather than extra commission to buyer's agent. When this contract expires in December, I will shop around. Mansur's point about the equity problem is very valid. I put down 10 percent when I bought the house. At the current listing price, I have lost almost all of it (8 percent less than when I purchased). I understand that market is slow in Boise. I cannot go down below the 10 percent that I paid as down payment. I might just take it off the market in December, and try to bring it back in March-April. It will be easier for me to cough up the monthly mortgage, rather than owe the bank a hefty sum when the house is sold at a price that the market dictates now. What does everyone think about this idea? Once again, thanks for spending your time sharing your expertise with me. Have a wonderful day!
1 vote Thank Flag Link Sat Oct 27, 2007
Sylvia is correct. One of the reasons you might not be having as much luck as you should is because you are trying to "do it yourself" through a discount program. To other consumers, this is perceived as "being cheap" and to other full service Realtors it usually means more work for them. I have not used Assist-2-Sell before but I have used three different discount companies. There is absolutely a tendency for full service Realtors to boycott them and the majority of buyers use a full service buyers agent. With as much competition as there is now on the market, it is easier for an agent to skip your home. Take a look at your listing agreement and see if it says, "Cancel at anytime." Interview at least 3 full service Realtors from different companies and get a competitive market analysis (CMA) from them.

For immediate action, join the National Open House scheduled for Nov 4th. You can sign up FREE at:
http://www.National-Open-House.com. If you email me, I can send you the press release for you to take to your local media.

Also, take a look at some of the other posts that will explain things better from both sides of the discount/FSBO verses full service debate.

http://www.trulia.com/voices/Home_Selling/When_should_a_home…

http://www.trulia.com/voices/Tech_Tips/Buy_side_vs_Redfin_re…

http://www.trulia.com/voices/Home_Buying/Redfin_v_full_servi…

http://www.trulia.com/voices/Home_Buying/Why_Shouldn_t_a_buy…

http://www.trulia.com/voices/Home_Selling/What_are_the_advan…

http://www.trulia.com/voices/Home_Selling/Selling_FSBO_versu…

Happy Reading and Learning!
Ruth
1 vote Thank Flag Link Sat Oct 27, 2007
Ruthless, Other/Just Looking in 60558
MVP'08
Hello, everyone! I just read Brian's reply and I am back with more questions. To Brian:
Can you please explain a little bit about your statement regarding an overall appreciation of 3 percent in Boise real estate since last year? I bought my house last April for $443, 000. I spent close to $15,000 removing carpets from downstairs and replacing them with hardwood. I also put tiles in master bedroom floor. Right now the house is listed at $ 419,9000, a reduction from my initial listing of $449, 9000. The house is in impeccable condition, very tastefully decorated. There is no clutter. The garage is clean and completely empty. I have professionally landscaped yard that is cared for by professionals year round. I am not willing to sell it for less than the current listing price. When the contract expires in Dec., I am thinking of renting the place out. My house is walking distance to HP and West YMCA.

If I were to rent it out, should I approach a realtor? What are the fees associated with that?

What is the current market situation in Boise? What is the outlook for next year? Thanks.
0 votes Thank Flag Link Wed Oct 31, 2007
Hi All,

A follow up post was created at the link below.

Best Wishes,

Emily Gibson
Customer Service Representative
0 votes Thank Flag Link Mon Oct 29, 2007
Sheela,

As a local agent in the Boise area I can tell you there is a lot of competition out there. There are three common factors that need to be in place when selling a home; price, condition, and marketing. In this market many agents are scaling back on marketing and discount brokerages don't have the business models to support the proper marketing of a home. They tend to rely on volume.

I did a recent study of the local MLS numbers and it showed that it will actually cost you more to use a discount brokerage or MLS entry only company on average. Using a full service brokerage in your case if your home were to sell at the price you have it listed today would net you an extra $4,000.

Ada County on a whole did slide backwards 4% in September. However, year-to-date we are up 3% on the average home price. Those numbers should give you and idea of where you need to start in pricing your home correctly. If you do decide to entertain going with a full service brokerage when your contract expires make sure the agent you select knows the numbers and has an actual marketing plan.

I hope this helps, as always feel free to contact me with any questions you may have.
0 votes Thank Flag Link Mon Oct 29, 2007
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