Zillow Advice: Home Selling - How to tell if it was the agent or what in why my house did not sell?

if the right agent accepted ...

Mon, 17 Dec 2007 23:01:00 GMT

if the right agent accepted the contract to sell your home, your home would have been sold. you're the principle. it's your investment. you make the final decisions.

I just sold in the Tucson ...

Sat, 15 Dec 2007 17:29:00 GMT

I just sold in the Tucson market and offering incentives (either buyers or their agents) didn't do anything.

Once we found the "sweet spot" price wise, that triggered 3 offers. The first two buyers failed, but the third made it through to the end and got a great deal. Fortunately, we did walk away with something (although not as much as we'd hoped) so it was disappointing.

We chose not to re-list with our first set of REAs and chose a different REA and different company. Second REA was much better and it's hard not to look back and think I should've fired the first set when we were clearly not seeing eye to eye. Before we signed that listing agreement, the first set of REAs were great on communication and prompt. Afterwards, forget it. It was like pulling teeth.

Go with your gut, lower the price (if you can) and change your REA. You never know, one or more of these things might get your house sold!

Okay, so everyone is saying ...

Sat, 15 Dec 2007 15:14:00 GMT

Okay, so everyone is saying it's the price that matters... I just emailed my realtor and asked her to lower the price again AND offer a selling bonus to the realtor who sells it. We'll see. Right now I'm trying to enjoy Christmas in my pretty little bungalow and not stress too much about moving.

Price is the factor 90% of ...

Sat, 15 Dec 2007 13:29:00 GMT

Price is the factor 90% of the time. I had my last sale listed for 5 mths, started at 349, 500 (per owners request), I suggested 329, 500 per comps. She had just finished the basement from ceiling to floor and wanted to re-coup some of the money she put down there. We kept lowering price every 30 days and even offered bonus to buyers agent. Finally lowered to 329, 500 at 4 1/2 months into it. I did 4 Open Houses for her during the listing period,and advertised before each one and at other times too. Showed it 18 times total. It was vacant as she had already purchased the new house. Got a contract at 5 months and sold for 315,000. It was 3 bd, 2 full, 2 half baths, stainless appliances, hardwood, large yard, on a cul de sac. So price is a heavy factor.

Thanks for all of the comments. ...

Sat, 15 Dec 2007 12:33:00 GMT

Thanks for all of the comments. I can sell my house at $169,000 and still make enough to move. Should I lower it to the bottom line? I want offers! I want people coming inside! My curb appeal is terrific. Everything inside looks great. How do I get my realtor to find a buyer!? Do I really need to offer an incentive to a realtor who sells my house? It's been suggested, but I refused... Especially with there being NO activity on my house in months.

Note: Appraised Value and ...

Fri, 14 Dec 2007 19:01:00 GMT

Note: Appraised Value and Market Value can be two different things. I'd listen better to the agent's reccommondations regarding pricing and forget your appraisal. In a declining market, like we have here, a properties value may plummet quickly. Have your agent compare your house and price to others that offer relatively the same thing. As previous posters have commented, it's a really tough market and even Realtors are not selling a lot of thier listings right now, there are just too many listings for sale, too much competition and only so many buyers to buy them all. In my area, Orlando, only 4% or so of the homes listed in the MLS are actually selling each month! The best way to ensure that your home is the next to sell is to closely monitor your own competition. Your Realtor may know better what buyer's are looking for. Everything will sell if it's priced right.

I get a lot of calls from sellers who's listings failed to sell during thier first listing period. Most often I hear the seller blaming the agent. 9 times out of 10 it was because the price was too high. Sure there are some terrible agents out there, but remember that the agents really do want your home to sell. Seriously, unless the agent was insane, they most definately want your home to sell. If you're arguing and defending what you believe your home is worth to the agents... you may be the reason that the home failed to sell, not the agent.

thats ridiculous... even ...

Fri, 14 Dec 2007 04:18:00 GMT

thats ridiculous... even if the "average" home is seling in 120 days in an area, that by no means predict how fast a particular home will sell; Futher, that average is for homes that have sold, and the average to sell the remaining ones might be completely different...

I am a professor of mathematics, leave this one be...

Ask your agent if they can ...

Fri, 14 Dec 2007 04:15:00 GMT

Ask your agent if they can do, not just a comparative market analysis, but help you understand the absorbtion rates for properties in your area like yours.

When I list a home, I can usually tell the seller how many days it will be before we see an offer within a 14 day window by showing how many homes like theirs go under contract in any given 15-30 day period. I trace the numbers back 30 days at a time for a year and try to show them the trends.

It is a math, math, world baby.

luckyme8890... I am sorry ...

Fri, 14 Dec 2007 04:05:00 GMT

luckyme8890... I am sorry you have anger towards agents. I disagree with your comment. I have seen many agents lose money in the current market. You are stating that agents will advise others to reduce and not reduce themselves... and then you state that the agents homes you are referring to is still listed for sale. In your example it could be that the agent perhaps needs to take their emotions out of the situation and get their own home priced to sell. Agents can get emotional about their own homes just as a non-licensed seller can be. Emotions lead to overpriced listings.

Jak... one of three things is going to happen when you list your home. (1) You will get a lot of activity and get offers which means you are positioned well, (2) you will get a lot of activity and no offers which means your condition is not good or you are priced to high or a combination of both, (3) or you will get no activity and no offers which means you are not priced for the market.

I truly question relisting with the same agent for several reasons. First and foremost, what are they going to differently this time to get your home sold? Secondly, it sounds like they are not getting real with the market and getting real with you regarding what you need to do to improve condition or where you need to be priced to get it sold. There are too many agents that are so afraid to offend a seller by being truthful on price that they would rather lose face by the property just sitting on the market. Time on the market is not a sellers friend. Statistics show the longer a home sits, the lower the purchase price. You need an upfront and honest agent to tell you like it is... the good, the bad, and the ugly. At the end of the day it is the buyers who determine value with their offers or lack there of.

Every agent is not for every client. The current market conditions are really going to prove who the best agents in the industry are.

Your property has probably ...

Fri, 14 Dec 2007 03:26:00 GMT

Your property has probably not sold because of a combination of your price and your agent. With the market declining on average .025 % per month this year, your property has been overpriced for the past three and a half months. Until this market stabilizes, savvy brokers will only take listings where the seller agrees at listing contract time to automatically readjust the price downward every six weeks that the property is on the market unsold. Otherwise, sellers are just chasing the market down. Unfortunately, appraisals are not accurate value markers in this downtrend cycle. The only well-priced properties that count are solds within the last 60 days. It also sounds like your agent did not do much 'real marketing'. This is no surprise, since 70% of the agents in California, for example, have been in the business less than 10 years and have only known a seller's market. That means they do not know how to go out and find buyers. Extremely strong, syndicated web presence is critical as is targeted marketing towards potential buyers (e.g., if the property is on a golf course, the agent should be marketing to area country club and private golf club members ~ then add the incentive of one year's club dues paid upon closing). Most important, though, is the seller's motivation. Most properties I see languishing right now are doing so because the seller wants last year's price for the property. Alas ~ last year is gone. Finally, I don't understand your agent's desire to be able to show your home even though you state you don't want to be on the market now. Most professional real estate brokers I know won't waste our time with the precious few buyers we have right now by showing properties where we have no guarantee that we will be paid a commission if we put a deal together. So ~ the choices, as I see them, are to sell the property quickly (that means cutting the price and market aggressively ) or pull the property off the market and wait out this cycle.