Originally Posted by okaydorothy
We have tried to sell twoproeprties in the past year. One was our own home ; we put it on the market in Nov, never heard a word from the realtor ; oh but she could call enough times to get the listing. Then she called in Jan saying she had pneumonia and was out of action but would be back. Then she came and did an open house for realtors. That resulted in the realtors advising us to drop the price by about $20,000. As it happens, our business didnt sell so we took the hosue off the market. Nothing in our development has sold in the past year.
The second property is a commercial property. It has been on the market since feb, we have dropped the price by $30,000 and still nothing. It seems that I always have to do the calling to the realtor, he never seems to call me. I havent seen it advertised at all and it jsut isnt going anywhere. So I think we will end the listing and rent the building.
How can these realtors justify their 5-6% commissions when they wont even return calls or anything. you are talking about NY here ; and the commissions are equal to about $30,000? Yes, they may spilt the commissions but it still is an awful lot of money. I would love to know how much the advertising costs that they supposidly do?
I had my house on the market for 3 months and ran into the same problem. No contact from the realtor, absolutely no advertising other than realtor.com, etc...
The final nail in the coffin was when the realtor had an open house. Never put a sign in advance saying open house and ONLY advertised in our local paper. A town of 3500 people. They drive by the house constantly, people here know it is for sale, it is the other areas that need the advertisement.
After that incident we pulled it off the market and will be putting it back up the beginning of August as a for sale by owner. I could easily do the job that the realtors we have had seem to do, plus keep quite a bit of money for myself.