5 mth contract w/Realtor near expiration. Will changing realtors bring new marketing/buyers or is lowering price only way to sell in current market?

Asked by Sellhouse, 19382 Mon Sep 6, 2010

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PollyAnna Sn…, Agent, Bozeman, MT
Mon Jul 22, 2013
Get with any Realtors you interview and decide to use and develop an overall, comprehensive strategy and plan...marketing, pricing, etc... It isn't one thing that caused your place not to sell - it's the entire plan. Keep your eyes on the prize and hope this helps. Cheers!
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Chandra Watk…, Agent, Redlands, CA
Mon Jul 22, 2013
You may need to take a look at both. But, pricing your home correctly is key!
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Nina Harris, Agent, Williston Park, NY
Mon Jan 9, 2012
Price is the #1 reason a home does not sell. Ask your realtor to put together a new CMA and review with him. I would think that your home was not in the right ball park from the beginning if you have not received 1 offer in 5 months. Really look at the competition (similar homes on the market, size, rooms, lot size and condition). Is your listing price at or below where the competition is? What have similar homes sold for in the last 3 months? How does your home look online? Are the pictures clear and does your home appear de-cluttered in the pictures? How's your curb appeal? How is your home being marketed? Is it on all the major real estate sites?

76% of home owners believe their home is worth more than it is and do not listen to their real estate agent even though they are shown comparatives.

If you do not think your home is being serviced and marketed properly, call in 3 local agents and have them put together comparatives. The CMA's should all be in the same ball park. If one is too high - do not go with it as you will be taking a much lower price when your home finally sells via price drops. Make sure you connect with the agent. Ask for the name and phone #'s of 3 of their most recent clients and call them. Then select from there.

Good luck!
Web Reference:  http://ninaharrishomes.com
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Joanne LaFle…, Agent, Fort Meyers, FL
Mon Jan 9, 2012
If the price of your home is to high, it's going to sit there for a while. You need to have your agent do a new market analysis and see if your house is priced to move. If it is to high you will have to rethink how low you would be willing to go to move it. If your house is not being marketed through out the internet and featured in places such as Listingbook, Realtor.com, Zillow, the Real Estate Book, the websites of your newspapers, etc. Then you may want to rethink getting a new realtor,

The price is the Key. If it is to high no matter how much it is marketed it probablly, will not sell or take a long time.

Joanne LaFleur Broker/Associate
Jones & Company Realty
(239) 634-0982

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Andy Chapis, Agent, West Chester, PA
Thu Nov 18, 2010
That's a loaded question in my opinion. It all depends on what the current agent is doing for you. Is there good communication? Are they thinking outside the box. Are they keeping you informed of activity on a weekly basis. Is your home prices correctly according to the market, not what you need to sell it for? So many factors. In short, sure it could ake a difference if your getting good advice. Hope that helps.
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Erica Ramus,…, Agent, Pottsville, PA
Wed Nov 17, 2010
Sometimes changing agents/firms DOES spark new interest. Not all real estate brokers do the same kind of marketing. Some are more active online, some have unique programs, and others simply put you in the MLS and plant a sign on the yard.

If I were you I would interview a few agents in the area and ask what they do different than your current firm.
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Tara Rucci, , 19382
Tue Nov 16, 2010
It may be beneficial to meet with your agent prior to making any decisions. Find out what they are and have done to market your home, have a consult with a stager, obtain an updated listing of comps in your area. If your current agent has the home priced correctly, is marketing it and you are getting showings a new agent may not be the answer. If you are not happy with the services they have provided you, a new agent may better serve your needs. However, that means that the marketing of your home would start all over again. Weigh your options and make the decision that you feel works best for you.
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Jesse Johnst…, Agent, Conshohocken, PA
Tue Sep 21, 2010
Even the best homes like yours have been a challenge to sell in todays market. Some marketing techniques worked really well in the in the previous sellers market. I've found that you have to make the best first impression when listing your home. Like having professionals photograph and stage the property. Also, I recommend having the home appraised to insure that we're being realistic about the value. I believe that re-listing your home with an agent that uses these techniques will prove to bring in new buyers. In fact there are new buyer coming into our market everyday.
Web Reference:  http://www.soldwithjesse.com
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D. Derderian, Agent, West Chester, PA
Sun Sep 12, 2010
Even the best REALTORS are going to have a hard time selling some listings. obviously there can be an array of different reasons why your home didn't sell and rather then trying to find out the who and the what, sometimes price is the easist alternative. Not to say marketing and creative ideas and presentation don't help it sure doesn't hurt.
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Ian A. Wolf, Agent, Morristown, NJ
Tue Sep 7, 2010
Depending on how your home was marketed, a new Realtor could definitely help get it sold without necessarily lowering the price. Photos and having a home properly positioned on line, definitely are major factors in the success of a sale. Having proper info on the mls is important too. I have seen homes not sell because a Realtor forgot to note the section a home is in in the listing. If someone is searching by section the home won't come up at all. So that is just one example of how proper marketing can make a difference. I would suggest interviewing a number of Realotrs when your listing expires to determine if there are better strategies or if you should re list with your current Realtor and lower the price.
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The Stephen…, Agent, Portland, OR
Tue Sep 7, 2010
Lowering the price is the # 1 way. Most of the time, Realtors can still view how long the home has been on the market. Changing companies does not help.
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Pacita Dimac…, Agent, Oakland, CA
Mon Sep 6, 2010
What has your realtor done to market your place. It hurts when sellers drop a realtor who has done a lot of things for them, only to have the seller re-list at the reduced price that the previous realtor recommended...and then the property sells!

Review the things that your realtor has done for you --- and how does that compare with what other realtors can do? Are you aware of every marketing tools your realtor has used? Sometimes, sellers have no idea what it takes to promote a property: photos, visual tours, online advertising on several websites, enhanced listing description on Realtor.com, vflyer/postlets, craigslist, open houses, brokers tours, postcards and other mailers, etc.

What is the current market condition in your area, and how is your property priced compared to the recent sales, current and pending listings? How does your property look? Is it a fixer, or is it in good condition? Does it show well? How about curb appeal?

Price is the single most important factor in selling. Remember, it's not always what you as the seller thinks your property is worth, but what a qualified buyer thinks it's worth and is willing to pay for it.
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Ed Tedeschi, Agent, West Chester, PA
Mon Sep 6, 2010
Changing Realtors can bring new marketing techniques. It will not necessarily bring new buyers. You should be looking at an update of the comparables in your market area with your realtor. Look at the average days on the market, and of course the settled prices. So lowering price can be "one" way to sell, an most sellers when they re-list with another realtor they lower the price and in some cases the same could have been accomplished with your original realtor, if he/she is doing the marketing effectively.

Ed Tedeschi
Weichert Realtors West Chester
Cell: 484-354-0453
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Mack McCoy, Agent, Seattle, WA
Mon Sep 6, 2010
Changing Realtors(r) may bring new marketing, but almost certainly won't bring new buyers - they're not staying away because they don't like your listing broker.
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Jill Callahan, Agent, Media, PA
Mon Sep 6, 2010

Every realtor uses different marketing techniques, maybe it's time to change realtors. Have you been getting showings on your home? Is your home price competively with other properties that are similar to yours? Is your realtor using every avenue possible to get as much coverage on the internet to capture a buyer because 90% of all home buyers first go to the internet to find their next home?

Interest rates are at an all time low so the buyers are out there looking at the properties. My questions is - when do you want to sell?

Jill Callahan
Coldwell Banker Preferred
Exton and Wilmington, De office
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Lyle Wolf, Agent, Morristown, NJ
Mon Sep 6, 2010
Review with your current agent all that has been done to market the home. Take a look at the MLS listing. Is complete with all the necessary information? What do the photos look like? Do they make you want to see the house? How many are there? Twenty or more are best. How does the house show? Has it been well advertised and exposed on the Internet? If your agent has done a thorough job of marketing your home than switching to another agent is not the answer. Lowering the price makes more sense. If your agent has not done enough or done things well then look to another. Often agents do a very good job and when the home is not selling pressure for a lower price. Buyers resist and when the listing expires switch agents blaming it on the agent. They then end up lowering the price anyway with the new agent who then sells the home. The original agent who did a good job all along ends up with nothing for his or her efforts. If your agent has done a good job lower your price and keep the agent. If not, get one who will do a better job of marketing and price more realistically.
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