Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
When your house doesn't sell because no one seems to like it (despite quality marketing), AND you're not willing to drop the price, please don't make the listing agent a scapegoat.
And beware when the next agent calls up and says he can sell your house.
When your house doesn't sell because no one seems to like it (despite quality marketing), AND you're not willing to drop the price, please don't make the listing agent a scapegoat.
And beware when the next agent calls up and says he can sell your house.
Sad to say we see it all the time. What's really sad is when an agent buys the listing (by offering a too high list price). Sellers get sucker-punched everyday, going for the highest list price. Then when there's no activity, the excuses erupt.
Sellers: do yourselves a favor and listen to WHY the agent recommended their list price. (Hint-you only want to be at the top of the market if you market is competitive).The agent that prices you at the top of the market is not doing you a favor, unless they can validate why. It's all too easy to be drawn in
It's the pride of ownership factor that plays in. People are proud to own their homes and thinks that everyone would be equally proud to buy it, without looking at comps.
Everyone should list there property for the appropriate price, If any seller is not doing that then he will not able to get even a single buyer, real estate agent also can't help it.
It's the nature of the beast. *shrug*. Selling is as much psychological as it is method.
Sometimes an agent will take a listing that they know is a bit overpriced, hoping to be able to bring the seller around to reason once they test the market. Yes, current thought is not to take the listing, but if you are in a heavily saturated agent market, you might take it as an entre' to a neighborhood you have been trying to crack, or just to keep another agent from listing it. :-)
However, when the market tells you again and again that the price is too high, the sellers will either a) figure out that they are overpriced and drop the price if they can, or b) they blame the listing agent for "not doing enough, even when you gently remind them that you had recommended a lower price, but they, as the owner, insisted on "testing the market." The real kick in the gut, though, is when they are so mad at the agent that they won't renew the listing when it expires -- but they go with another agent AT THE LOWER PRICE. Grr.
Looking back on how smart I was on the 1st home sell and 2nd home purchase.... I can only imagine how much knowledge I would gain if I were to buy / sell say , 10 more homes ?
Location: Mokelumne Hill, CA & El Pescadero, BCS MX.
6,957 posts, read 22,320,866 times
Reputation: 6471
The few times when I've been drawn in to real estate reality shows based on the SoCal experience, I've been appalled at how it's done there. Mind you I know that it's not reality. I think owners who don't have a great concept of the real world, expect it to be like the TV shows.
Our last house my husband wanted to list for a ridiculous price. Our agent did so instead of listing it for a price that would sell. I had to ask her to reduce it by $80,000 to get it so,d quickly.
When your house doesn't sell because no one seems to like it (despite quality marketing), AND you're not willing to drop the price, please don't make the listing agent a scapegoat.
And beware when the next agent calls up and says he can sell your house.
Exactly, don't too much get dependent upon any agent for selling your house.
When your house doesn't sell because no one seems to like it (despite quality marketing), AND you're not willing to drop the price, please don't make the listing agent a scapegoat.
From being a commercial/investment broker starting in 1972 till I retired, I can say with certainty that the following is always true.
Every seller has a price they want to sell for, but that is not always the price that buyers want to pay.
If a property is getting quality marketing, and other homes are selling and that particular property is not selling, the property is without a doubt priced too far above the market value to sell.
I have seen many times that a prospective buyer will make an offer, and an appraisal will be done to be able to finance the property. The appraisal will come in well below the contract price and the sale dies. Even then some sellers refuse to accept the fact that the only way the home will ever sell is to lower the price to it's market value.
What a home could have sold for 5 years ago, has nothing to do with today's value.
What an owner wants to sell for, has nothing to do with today's value.
How much an owner paid for the property at sometime in the past , has nothing to do with today's value.
If a property has not sold within a reasonable length of time, get an appraisal done by a licensed appraiser and the property should be priced at the appraisal.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
