realtor good, but not good enough?

[K-Luv]

Interesting: no one but the OP knows the original asking price; the OP mentions having lowered the price twice; and the advice is still to lower the price without even knowing how any of the pricings reflect those of other homes sold.

Totally brilliant

For what it is worth, Fuller Sotheby's is known for getting homes sold for slightly higher-than-average pricing and they generally do not sell "average homes". The average homebuyer is more-than-likely not going to know the difference between Sotheby's and Joe's Podunk Home Sellers so what the OP needs to do is look at the type of people who are buying into the area/are looking at the home. Are these the type of people who will buy a Sotheby's home?

Anyways, my advice is not to lower the price but to instead invest that "loss" into the granite and stainless steel that the buyers seem to want.

[K-Luv]

Originally Posted by Aggiebuttercup

If you hold firm on the price, you may get an offer when the right family (one who thinks the way I do) comes along.

First off, I agree: I like corner lots as well.

Second: why is every homebuyer a "family"? And why are homes "listed" to families? There are plenty of "non-families" out there who love to own homes, too.

[davebarnes]

Originally Posted by K-Luv

Interesting: no one but the OP knows the original asking price

$330K on 25JAN2014
$325K on 30MAR
$320K on 18APR
$315K on 08MAY
$313K on 14JUN (Flag Day!)
$306K on 19JUN

Originally Posted by K-Luv

my advice is not to lower the price but to instead invest that "loss" into

Seller has no cash. Seller has horrible cash flow.

[oldtrader]

Thread Title: realtor good, but not good enough?

Problem: Home not selling, or even getting offers. Title blames it on Realtor.

Lets look at some facts:

1: Homes are rarely sold by the listing Realtor. Listing Realtor's job, is to get the home onto the multiple listing service, so now every agent in town is able to offer the property to their buyers. It is the total number of Realtors in the multiple listing service that will sell the home. If the home is a hot selling home, the home will be sold quickly. When no one is making offers to buy the home and the home has had numerous showings, it is not the fault of the listing Realtor. The listing Realtor cannot make people buy the home. Agents show the home, and their buyers turn down the home, and are not interested in buying it.

2: The reason the home is not selling when getting multiple showing, is not the Realtors doing a bad job, but it is not selling because the homes it is competing against are more in tune with what the buyers want to buy. They are turning down this home, as other homes are more in tune with what the buyers want.

3: The big indicator it is not a desirable home in local buyers eyes, is the home is not even getting low ball offers. If it was, then someone would have tried to buy it under the market value, which is very common everywhere.

4: There are three things you can do to make it more salable. 1: Cut the price, so it sells due to the price being enough below competing homes to attract a buyer based on price. 2: Solve the open garage and other problems so it is competitive with the homes that are selling. This costs money to do. 3: Accept the fact you have a very slow selling home, and just sit back and wait for an eventual buyer. The home will eventually sell if it is priced the same as competing homes, but sometimes takes well over a year to happen. When I say priced the same as competing homes means: You take competing homes that are as near to the home as possible, then you compare different features. Features such as the other homes with full garages, deduct the cost to close in your garage. Deduct the value of the upgraded kitchens, etc., and you will come up with what the home will be worth to buyers. You cannot expect them to pay the same for your home, they will pay for the other homes with the features you are comparing against when your home lacks these features. This is a fact of real estate life.

Real Estate Fact: The following have nothing to do with the value of a home. 1: What you paid for it, or what it could have sold for 2 or 3 years ago. That is the reason for short sales. Homes dropped in value. 2: What you owe on it. 3: What you would like to get for your home.

Remember, your home is going to be appraised, if someone wants to buy it and put a mortgage on it. If someone came along and offers to pay $50,000 more than the appraisal, the lender will say no way, and the sale dies right there. Sometimes it is best to get an appraisal done, and find what the home is really worth on the current market. I have seen where the appraisal was higher than the seller expected, and times considerably below what they wanted. Again the reason for short sales.

[Lovehound]

Old trader you give amazingly good advice! Your entire post was spot on! OP would do well to heed your advice.