Home Selling in 27587>Question Details

Shannon, Both Buyer and Seller in Wake Forest, NC

Should I ask to be released from my realtor's contract?

Asked by Shannon, Wake Forest, NC Mon Apr 14, 2008

My house has been on the market for a month with no showings. I initially used the lower range recommended by the realtor. I have since lowered the price twice on my own. I only hear from her when I email first, and she generally replies with "Don't lose faith" and "Tomorrow's another day" I've asked to see what marketing she's done (no response) I've asked to know how many times she's talked to other realtors about our house (no response). I feel like I'm a listing so that she can go to her office meetings and be able to meet her listing quota.

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Answers

14
I don't know any agent who has a "listing quota"... after all, a listing isn't guaranteed income, just the opposite, it's an opportunity to spend money.

You have every right to get answers to your questions. Why don't you stop e-mailing her, and call her on the phone, and ask her those same questions. Don't let her off the hook (pun intended) without a direct answer to your questions.
2 votes Thank Flag Link Mon Apr 14, 2008
Alan May, Real Estate Pro in Evanston, IL
MVP'08
Contact
I actually just picked up a new listing because the prior agent was exactly as you described...his name wasn't..oh never mind I'll take the high road. Upon hiring your Realtor you should have a clear marketing plan in place. Your realtor should provide you with a copy, and a scheduled day each week for updates. This is what I do for all my Sellers and I have never lost one yet. Phone calls especially those to other Realtors are always followed up with an email which I copy (BCC) to my seller.
What some REALTORS forget is YOU the seller are the Boss and we can be "fired".

I am sorry you have had a bad experience. my advice is cancel your listing agreement and get a new Agent.

Best of luck!
Lisa Stanley
Allen Tate Realtors
919-291-8502
1 vote Thank Flag Link Tue Jan 22, 2013
I agree with Rick.


Price
Preperation
Presintation

are the keys to showings and sales.

Read My blog about the Three Ps of Real Estate sales below

Agents MUST pick up their phone in 3 rings or less. Or get back to you with in 30 min.

If they do not, well that is another long story.

Tom Bohlmann
Allen Tate Realty
919-434-4100
0 votes Thank Flag Link Tue Sep 20, 2011
Hi Shannon. I would suggest that you ask your agent to print the showings trends reports for both your zip code and your MLS area for your price range. This report will tell you how many showings that your competition collectively has been getting since you have been on the market. My biggest concern with your story has to do with the lack of responsiveness and there being no proactive adjustments initiated by your agent. I would have a discussion with her Broker-In-Charge and ask for either a release from the agreement or to be reassigned another agent.
0 votes Thank Flag Link Mon Sep 21, 2009
Some Realtor not good at showing the seller what they do for there fee, i dont believe the realtor is doing this purposely, does she have a web-site, check and see if your house is the mlsor on the web, do you have flyers box, she already spend time and money by preparing the market analiyst and at least 2 to 3 hours when she first took the listing, putting lock box, yard sign then she have write the add, and make the flyers all this taske time. it takes at least 45 day's before you will see someone showing and that depent what part of the country you are in, and remenber she dont get paid unless that home is sold, it would not benefit her to have LISTING if she can sell it, she is on the seller side, give it time her job is to market it not sell it.
0 votes Thank Flag Link Tue May 27, 2008
I too have a house on the market in Wake Forest and I have not had any showings... none... my house has been on the market for 1month and 2 weeks. My realtor says the market is slow for my price range. It is very upsetting.
0 votes Thank Flag Link Tue May 27, 2008
Hello Shannon
The way the market is right now a month is not a long time, I would sit down with your agent and request a game plan for what they will do and when as far as marketing the home for you. If you don't have a good relationship with your Realtor, that is not good, as that is the most critical criteria for selecting one, if that is the case I would speak with the broker in charge of the office and possibly request another Agent.
Good Luck
Web Reference: http://www.colvinm.hpw.com
0 votes Thank Flag Link Mon Apr 14, 2008
Shannon,

You have rights and if you are unhappy than you should call her and let her know your fustrations.

You should ask to see a marketing plan, adjusted CMA, and also set up a day and time every week where the two of you will talk about everything that is going on with the property.

If you have decided that you do not want to work with her anymore, I would first talk to her and let her know why. I would than talk to her broker in charge and let that person know why also.

Good Luck!
0 votes Thank Flag Link Mon Apr 14, 2008
Shannon
As a REALTOR, and a peer to your agent-if indeed they are a REALTOR, this is why sometimes the general public is skeptical of REALTORS as an industry. I am curious about a couple of things. Did your agent give you a marketing plan when you listed? Did they give you a schedule of when they would be giving you updates?

One of the things that we do is set our clients expectations. How we market, how often we send email reports, how often they can expect to speak with us etc.

These are some things I would ask for, rather than a release. A Marketing Plan. A Market Update monthly--new CMA. Phone calls--as often as you need. Showing update weekly. A link to all internet marketing. Graphics in the home etc.

I hope this help because perhaps they are really doing marketing and all the work they are supposed to do, but they have not been good at updating you on all the work they are doing.

If they are not doing the work you hired them to do......sad to say, but you may need a new agent. By the way, if you have listed with a discount agent or someone that has simply put your home on the MLS and is not doing any additional marketing that may not be enought to get your home sold in the market.

I do wish you the best and hopefully they are doing what they need to do and will be able to communicate that to you. Perhaps you need to refer to your states Codes of Ethics for REALTORS.
Web Reference: http://www.realtor.org/
0 votes Thank Flag Link Mon Apr 14, 2008
Shannon
I don't know your particular market, so things might be different in Wake Forest, however, there are some principles that are consistent.
First, expectations. When you and your Realtor agreed to work together to get your home sold, what did she tell you she would do? Most clients want some sort of regular contact with their agent, real estate is the same.
Second is results. Did you agree on what results were expected, if they failed to materialize, how you would respond?

For my clients we talk weekly. Sellers get a market update showing homes that sold, went into escrow, expired, lowered their price, etc. So my clients know what the competition is doing . I also report on all showings, get feedback from the brokers, so my client knows what they Realtors think of their property.

If we do not receive showings or offers during the first two weeks, we will adjust the price and make any other changes necessary. Price is 80% of getting a home sold, marketing the features that buyers value also key.
So the question I would ask your Realtor is "how many homes. like mine, have sold in the time my home has been listed? How many homes are I competiing with right now, I want to look at their data, maybe visit some of them. You need to know your compettion.

I also agree, I would ask for a meeting with the Realtor at the office. If you do not feel they can do the job, ask to speak with the broker.

Good luck!
0 votes Thank Flag Link Mon Apr 14, 2008
Keith Sorem, Real Estate Pro in Glendale, CA
MVP'08
Contact
What's a listing quota?

Shannon you and your Realtor should have worked out the communication issue in the beginning. You are the boss, you need to speak to them and tell them you would like a weekly report. If your realtor doesn't comply you may need to hire a new one.
0 votes Thank Flag Link Mon Apr 14, 2008
In the current market a month is not a long time. Did you have other agents come in a price the house? Did you see the comparables to your property? What is the ratio of listed vs. sold properties in your price range?? Have you sat down with your agent and expressed these concerns?? Have you spoken to the agents managing broker? I would try all of the above first.
0 votes Thank Flag Link Mon Apr 14, 2008
Shannon,
I am sorry you feel that way about your agent. Yes you do have the option of either calling her BIC (broker-in-charge) and requesting other representation or withdrawing your listing all together. Of course I am sure that as soon as you do that you will get plenty of attention. If I may ask did you interview listing agents for the position? If so ask some of your questions up front. I would ask what is your marketing plan (mine I tailor to each listing differently), next ask for the level of communication you want. Do you want a daily, weekly, or monthly update on the listing? Did she present you with a CMA (comparative market analysis) of your homes market value in order to justify the price you both agreed on?

I know it is frustrating but, it is actually a good market here in the Triad right now. My buyers are going wild and I am picking up more buyers by the day, so I know they are out there. Now we just need to put your home and the buyers together.

If you need any help or have any other questions feel free to drop me a line.

Larry Story
Coldwell Banker Triad Realtor's
larry.story@coldwellbanker.com
0 votes Thank Flag Link Mon Apr 14, 2008
Hi Shannon,

I'm sorry to hear that your relationship with your agent is not going well.
If you feel that she is not doing a good job for you then you should request to be released from your contract.
Please review your contract as there may be costs to you for doing so.

Good luck!
Lizete
Web Reference: http://www.LizeteSantos.com
0 votes Thank Flag Link Mon Apr 14, 2008
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