Home Selling in Wilton>Question Details

Anne, Home Buyer in Wilton, CA

How long do you stay with a realtor before switching if house hasn't sold?

Asked by Anne, Wilton, CA Sun Apr 13, 2008

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Selling a home is a partnership between the home owner and the listing agent. Hold the Realtor accountable for that which is within his/her control, and look to yourself and the market for the influence appropriate to both.

A contract for sale results from price and exposure. Is/was your price competitive? What marketing was done to attract buyers? How does your property present? How do you measure up against the competition? A Realtor cannot advertise his/her way in to a sale of a property that is overpriced. Aggressive marketing of an overpriced property results in helping sell the competition by highlighting the value of the neighboring property priced lower. A great property at an attractive offering price will not garner the highest and best price with insufficient market exposure. You need both the right price and marketing that will reach the potential pool of buyers for your property.

Exposure depends also upon you, the home owner. Your property needs to be available and ready to be shown, often on short notice. Is there a lockbox on your property? Is it easy to show?

A property which presents well has a larger pool of potential buyers. For any shortcomings in the property, a price adjustment can offset. A property with much deferred maintenance, clutter and a poor location can still sell……at the right price.

Evaluate the marketing (materials, where and how promoted), and take an objective view of the price and competition. If your Realtor has provided you feedback and advice about pricing, have you heeded that advice? If your Realtor did not provide advice and feedback, why not?

Should you change Realtors? I don’t know. It depends upon why your property has not sold. How many homes similar to yours have sold? If the answer is several, the first question to ask is “Why their’s and not yours?” If the market is moving slowly, and your Realtor has worked diligently on your behalf, and provided you relevant feedback, it may advisable to stay with your current Realtor. If your Realtor has fallen short in advice, representation and marketing, it may be time to seek alternative representation when your contract expires.
1 vote Thank Flag Link Mon Apr 14, 2008
Deborah Madey, Real Estate Pro in ,
45 homes (1 house on lot) sold and closed in the past year in Wilton. 60% (27) took over 100 days on the market.,

Over 1/3 of the sales (16) took over 180 days.

( Less than 10%) Only 4 homes sold within 30 days of being listed.

Approximately half of the sold listings were sold after being relisted with new listing agreements. . (23)

44 of the listings sold below their original list price. Some were discounted by more than 50%.

1 bank repo was listed below market value to stimulate multiple bidding and overbids (similar to a closed bid auction) It sold cheaply, via overbiddiung at $187 per square foot,
1 vote Thank Flag Link Mon Apr 14, 2008
Jim Walker, Real Estate Pro in Carmichael, CA
Anne -

Dot is right about checking your listing agreement first. Realize the listing agreement is actually with the broker. If you are working with the agent of the brokerage, the broker has the final word on releasing the contract.

If you are dissatisfied with your agent make sure you sit them down and tell him/her. If there is a mutual agreement that it can't work out, the broker may simply ask that you work with a different agent within their office. If you don't want to work with anyone in the brokerage, present your reasons and they may simply release the agreement.

Some brokers hold on tight to these agreements and some are pretty flexible. Your area may have different rules than San Jose, CA, so please do check with a local professional.

Web Reference: http://www.TalkToCJ.com
1 vote Thank Flag Link Sun Apr 13, 2008
Hi, Anne. Take a look at the listing agreement you signed with your agent. An expiration date is required.

Do keep in mind the average time on the market now is a very long time in most areas. How long has your property been on the market?

All my best,
Web Reference: http://www.DotChance.com
1 vote Thank Flag Link Sun Apr 13, 2008
it depends if you feel like they are doing a good job or not. If not you should change
0 votes Thank Flag Link Sat Dec 8, 2012
Personally myself I had a realtor that we were not happy with at all. As a buyer we were not feeling like we were getting the treatment or attention that we deserved and truly needed. So my father-in-law recommended his nieghbor, Michael Luckey, out of folsom. Incredible guy. If your thinking of dropping your current realtor, he's awesome. He worked incredibly hard for us. And believe me, I'm not the easiest one sometimes, lol. Hope this helps from a buyers prospective.
0 votes Thank Flag Link Tue Jun 12, 2012
Check the listing agreement dates.

I would suggest having a conversation with your Realtor to refocus the efforts of Agency.
0 votes Thank Flag Link Mon Jun 4, 2012
how long is a contract with your agent
0 votes Thank Flag Link Tue Feb 14, 2012
If your Realtor has performed their duties in advertising, open houses, mail outs, new homes magazines, feedback, etc. it can be to the seller's advantage to stick with the original listing agent. Everybody has heard: Location, location, location, as being the three most important factors in selling! Regardless of location, regardless of property condition, & market condition, pricing the property is the most important factor in selling a property. At the right price a used toothpick will sell!
With that said, has your agent asked you to consider adjusting your price? Has your agent suggested upgrades to the property? Has your agent taken action by giving feedback on showings? Have you taken action?

It is possible that you and your agent do not understand each other. If you have no communication from your agent and all they do is put up a sign and enter into the local MLS, I'd have to say "it may be time for a change!"

On the other hand, selling is a joint venture. The seller has as many responsibilities as the agent, which any good agent will go over at the time of listing and throughout the entire listing time frame.
0 votes Thank Flag Link Mon May 5, 2008
Selling a home comes down to one of three things: Price, Product, or Pitch. A properly priced, properly marketed home should sell within 45 days in ANY market.
Web Reference: http://www.cindihagley.com
0 votes Thank Flag Link Sat Apr 26, 2008
The Hagley G…, Real Estate Pro in Pleasanton, CA
the key question is this: how many properties, like yours, have sold since your home hit the market?
If ANY have sold, then you need to look at why a buyer chose their home and not yours.
In most markets, properly price homes that sell within the first 30 days sell closest to asking price. What you paid, how much you owe, how much you have invested, do not matter to a buyer. Buyers want value.

Generally the longer a property sits on the market, the larger the gap between asking and sales price. At 1250 inmy market we are at 94.6% of asking price,...and that is after a price reduction or two.

So the key is to price your home right. The good values (as perceived by buyers and their Realtors) go first. The rest of the overpriced inventory sits, creating these long Days on Market averages. In most markets, we are looking at a LONG road back to "normal", so unless you have time and money to burn, price it right and sell it now is better than a long, slow, painful, time of no activity.

Remember, 90% of the time the buyer first sees the property they buy with a Realtor, so that means that if your property is not being shown, and no offers, then they Realtors do not believe your property is worth showing, so they show other properties to their buyers, and yours sits.

Good luck
0 votes Thank Flag Link Mon Apr 14, 2008
Keith Sorem, Real Estate Pro in Glendale, CA
I agree with everything that the previous respondents have said, and I'd like to give you the other side of the coin. Realtors are consultants and they hire you as much as you hire them. It's a partnership, and their investment in selling your home can be costly if it never sells, in time AND money. Just like an attorney, they choose to list homes that they think they can sell. ...but it's a very tough market.

Price is the key to selling in this market. But if the market price is lower than you can afford to sell it at, then a change in realtors is not going to help. Make sure the agent has done an appropriate marketing effort to getting your house exposed to the market, check your contract terms, and then consider whether your 'partnership' is working. Good luck!
Web Reference: http://www.suearcher.com
0 votes Thank Flag Link Sun Apr 13, 2008
Hi, Anne-
If you feel your agent has been working hard to sell your home, you may not want to switch. Your agent may be doing the best job possible, but if your market is depressed like many areas are, it's just the market, not your agent. I have been in the business a long time and have been through a couple of slow markets. Not to discourage you, but there was a time a Seller hung in there with me for 4 years and finally the market turned around and it sold. Of course, in order to sell a property in a reasonable amount of time, price is always the answer. The lower the price, the more potential buyers you'll have.
Good Luck!
Candy Hallstead, Realtor
CENTURY 21 Bonnie Blue
Big Bear Lake, CA
0 votes Thank Flag Link Sun Apr 13, 2008
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