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Answers (9)
- Danny Brown, "dannybrown"
- Contributions:67
It sounds like you made a classic mistake and used your "friend" brain not your "business" brain. There's nothing wrong with being kind and generous, but selling real estate in a tough market takes percission, tenacity, experience, enthusiasm and relationships. If your agent is missing any of the above your playing roulette with your precious real estate asset and your personal net worth.
The good news is there is an easy way to fix this. Your listing expires in 30 days, so in the next week or so you should mention it to your current listing agent and tell them that you'd like to have your other friend co-list it. You should be straight forward and direct so they know it's not up for discussion. You could even have the new broker split the marketing costs to date so the 1st broker doesn't feel like they were treated unfairly. The 2nd broker should be happy to reimburse the 1st broker at the close of escrow.
The good news is there is an easy way to fix this. Your listing expires in 30 days, so in the next week or so you should mention it to your current listing agent and tell them that you'd like to have your other friend co-list it. You should be straight forward and direct so they know it's not up for discussion. You could even have the new broker split the marketing costs to date so the 1st broker doesn't feel like they were treated unfairly. The 2nd broker should be happy to reimburse the 1st broker at the close of escrow.
- Sue Vaterlaus, "PacificaSue"
- Contributions:35
You can list a property with two different agents in two different offices but I also agree with a few of the other people here that it may not be the agent. How does it show? Is it really priced correctly for today's market? Is the property being exposed? They are many factors involved in selling a house and not just one thing.
- Morteza Ameli, "Peji Ameli"
- Contributions:43
You could use both, but the one with the most network use he/she for selling and if you are buying another then use the other as the buyers agent. Even if you are moving to another state, you can ask that person to find a realtor for you in that area and he/she then earn a refferal bonus that is normally 25% of the commision.
- Phyllis A McArthur
- Contributions:150
Go with your gut feelings about this.
- wetdawgs
- Contributions:26783
What can you do to rescue it as fast as possible?
a. Have you sat down to evaluate the comps she used for the pricing suggestion? If not, do it with her tomorrow. Are they valid?
b. Is she doing everything in marketing that a "good agent" should do? If not, what isn't happening? When will it happen? Sit down with her and review it.
c. How's she giving you periodic updates?
d. Have you discussed that you are very very concerned about a few looky loos in the last 30 days?
Should you move on when the contract expires, don't just jump to your other friend. That would be (frankly) foolish! We never have "hired" a real estate professional for buying or selling without rigorously interviewing three or more individuals. Friends are friends, and valuable, but that doesn't mean they offer you excellence in their given field. Put them through the same rigorous interview. Ask them for their marketing plan. Ask them about communication plans. Ask them to review the CMA with you. Those we've hired have been through at least 2 hours interview before we say yes.
- John McKernan, "John McKernan"
- Contributions:86
My experience shows that if a seller is getting little traffic and no offers on home then it is probably over-priced despite best efforts to avoid this. If price really is not part of the issue, then you have some real decisions to make. At the risk of being blunt, why would you put such a huge responsibility on someone you think cannot do the job? Selling or buying a home requires some level of confidence and competence. You could "convince" the agents to co-list the home and split the commission, but why would the "good" agent really want to do that. I take friendship very, very seriously. How good will that friendship be if you re-list the home and she fails again. If you want your home sold, you have to list it with THE agent you know will get the job done. Hope this helps, and good luck with the sale of your home.
- Jacob Taylor, "PeregrineT1"
- Contributions:27
I would recommend getting second and third opinions as to the price of the home before saying its not overpriced. A Realtor who needs the work may not be bad at all, everyone starts somewhere. I don't know so I can't say, but I would certainly base it on the agents effort rather than whether the home has sold at a certain price(unless it is the price the agent recommended to you).
A well priced home will sell, and a high priced home will likely not even with an aggressive agent. If you don't even have any offers after 30 days that likely tells me it may very well be overpriced and you just are unaware of it.
A well priced home will sell, and a high priced home will likely not even with an aggressive agent. If you don't even have any offers after 30 days that likely tells me it may very well be overpriced and you just are unaware of it.
- ConnieK_Oklahoma
- Contributions:2896
I like Georgina's answer. There may be things you need to do differently. That's a really tough spot. One thing I would suggest is to get feedback from the agent you have listed with. Ask the other agent ot give you feedback too, maybe your agent is having a hard time telling you what you need to do differently- chances are both friends have specific advice. Ask your agent to do a broker's open and request feedback from all the realtors that visit. be patient. this weather isn't helping.
- Georgina OBryan, "GOBryan1"
- Contributions:483
Your current agent.. How much experience does she have? How many listings has she handled? Is she listing it right?
Many Sellers want to blame the agent if there's no showings but the market is what it is.. If it's properly listed and nothing is happening, you may have to run comps again and do a price reduction every 30 days until it sells.
She can also have a caravan pass by, Broker Open, Open Houses, etc..
Further, how appealing is your home to Buyers? Have you decluttered, is it painted nicely, clean and have you eliminated any personal items such as family pictures? All this can make a difference. I would also suggest that YOU visit comparable homes in your area to see what the competition is offering and for how much?
have 2 reatlor friends, one needed the work so I listed with her but now.....
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