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Thread summary:

Local realtor: potential buyers, no offers, marketing plan, virtual tour, grossly overpriced, residence

 
Old 01-28-2008, 02:04 PM
 
12 posts, read 21,316 times
Reputation: 10

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To sell our home we are using the realtor that sold us our current home. However, her office is about 45 minutes away and the clients she obtains do not want to be out as far as we are. I'm feeling after the house has been on the market now for 2.5 months that maybe we should get a local realtor in our town that would bring people to our house since they would be looking locally. We've only had one showing! (and it wasnt' from our realtor) I realize the time of the year and market are against us, but I am wondering if we'd be doing ourselves a favor by getting someone local to sell the house. Any advice would be greatly appreciated.
KJ
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Old 01-28-2008, 02:17 PM
 
203 posts, read 457,914 times
Reputation: 114
Hi I know how you feel I have had it on with a realtor for 2 months and she did not show it once but I have had 3 other realtors show it. I just think the market stinks and there is not many buyers out there. I do think it would help if you where with a realtor that had clients looking in your area. I read on this board that half the time your own realtor doesnt sell your house other realtors do. Good luck I feel your pain. Mindy
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Old 01-28-2008, 02:58 PM
 
Location: Virginia Beach, VA
2,124 posts, read 5,766,661 times
Reputation: 755
OK, first A) your agents job is to market the home so ANY agent with a potential buyer will show it (and hopefully sell it)... that is the POWER of the MLS!!! Chances are your agent will not show your home. Most buyers want their own buyers agent, not the listing agent. so even if they see the marketing, they will contact their own agent (or find one) and go see the house.

B) if your house is getting showings and no offers, then there is a problem.... either with the house or with the price.

c)if your house is getting any showings, the problem could be with the marketing, could be with the home, and could be with the price.....

D)Mindy, you state you read the half the time your own real estate agent doesn't sell your house... they sell your house almost 100% of the time (through marketing and other efforts), they just aren't the selling agent about 90% of the time!!! Read that again... your agent is the reason your house sells, just may not be the selling agent.

E) Real Estate is local. Make sure your property is listed in the local MLS and that it compares favorably to local listings.... I don't know about your agent being 45 minutes away.... only you can answer that. I sell 45 minutes one way, but not the other, in my MLS. I will not cross the river. I don't know the area, don't feel comfortable over there and will turn down listings from there. However, 45 minutes to the country, I feel perfectly comfortable and have listed and been the buyers agent for many properties out there.

Shelly
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Old 01-28-2008, 03:34 PM
 
Location: Maryland - Howard County
195 posts, read 501,838 times
Reputation: 55
The things that have been said already are correct and I'm going to add to it...

A "closer" agent will not necessarily bring you more showings. There can be several reasons why your home is not getting showings:

1. Is there enough marketing being done? Did you ever talk to your agent about their marketing plan before listing? Just throwing it in the MLS does not always give you the greatest audience or results

2. How does your front photo look? How does your virtual tour look - or do you even have a virtual tour on the house? A majority of the buyers today "find" the house on the internet and then enlist the services of a real estate agent to show them the house if they like what they see. I work with many buyers and they don't want to even look at a house if there are no pictures because they feel the sellers are hiding something.

3. Do you have proper signage in front of your house? If any at all? I know of sellers who have not wanted a sign in their front yard and it dramatically affected their number of showings, which they noticed after then deciding to put a sign in their yard.

4. Price - are you priced fair based on the market? Based on the size of your home and condition? You would think that people would look at your house and make an offer if they're interested, but that's not always the case. If your home is grossly overpriced or even minimally overpriced they may not even bother. Especially when there is so much on the market, there is enough to look at "in their price range" that they don't need to venture outside of it.

Just because your agent is 45 minutes away from your home does not mean that she does not know your area. Personally, my office is 45 minutes away from where I live. So not only do I have knowledge of my office area but I also have knowledge of my home of residence area. I have also sold homes in other counties and therefore have experience and knowledge of those areas.

It is true that buyers often do not want the listing agent to show them a house because they want to have their own representation. I work on a team so I am in a different circumstance but when I take people out to our teams' listings they often ask me if I'm the listing agent and when I say that I am not, they often feel more comfortable. The point is that just because she's not bringing buyers does not mean that she's not doing her job.

Have you talked to your agent? Not about the distance but about why you aren't getting showings...whether or not you're being advertised in your area...etc. I would start with a conversation in regards to that before a distance conversation.
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Old 01-28-2008, 04:21 PM
Status: "It's 5 o'clock somewhere." (set 29 days ago)
 
Location: Mountain Ranch, CA The heart of Calaveras County
6,188 posts, read 11,636,323 times
Reputation: 4950
Well, if all real estate markets are local (they are) then someone from 45 minutes away is not going to be able to provide you with the best service. I always refer clients to another "local" realtor when the property is outside my market area.
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Old 01-28-2008, 06:23 PM
 
Location: Salem, OR
11,016 posts, read 18,958,495 times
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45 minutes here is the difference between Portland and Salem, two totally different markets. I would not be able to price a Portland listing correctly anymore (used to live there, but not for 8 years).

The market stinks most places so a couple showings a month is not atypical.

I would be more worried about correct pricing. A good agent will market in a similar way regardless of distance. There are subleties to local markets in terms of pricing, that I think local agents are just aware of more. I would go with a local agent.
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Old 01-29-2008, 09:27 AM
 
Location: Chapel Hill, Chatham County NC
6 posts, read 11,880 times
Reputation: 12
I don't think distance is the issue. Knowledge of the market is. There are some areas 15 minutes from my office that I would refer to another agent and areas 30 minutes away that I know well. I would find out how many sales your agent has had in your area and the price range. It's also important how well known your agent is with other agents in the market because networking is very important to getting showings.
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Old 01-29-2008, 01:46 PM
 
Location: Atlanta/Decatur/Emory area
1,320 posts, read 2,739,052 times
Reputation: 475
I would never list with an agent who didn't live or have their office within 15 minutes of my property.

While most listing agents will not bring the buyer (which would be dual agency and most sellers wouldn't want anyway), most will be called upon during the course of the listing to open the house for a customer or for another agent's client. I believe agents should also be nearby so they can regularly check on the property (regardless of whether it's occupied or not) and make suggestions to improve marketability -- is the grass being cut, leaves being raked, etc. -- and to restock flyers (if used), etc.

When you have an agent who is more than 15 minutes away from your listing, the odds decrease that she will stay on top of things the way an agent who is close by will be able to do.

The long-distance agent is probably also significantly less familiar with the specific market for the neighborhood in which your property is located. Did she suggest the right price to begin with? Is she staying on top of what sells and what price changes happen in the neighborhood?

I strongly believe you are best served by an agent who is an expert in the neighborhood in which you are selling or buying.
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Old 01-30-2008, 05:26 PM
 
Location: Barrington
20,111 posts, read 14,470,806 times
Reputation: 6232
Quote:
Originally Posted by IntownHomes247 View Post


The long-distance agent is probably also significantly less familiar with the specific market for the neighborhood in which your property is located. Did she suggest the right price to begin with? Is she staying on top of what sells and what price changes happen in the neighborhood?

I strongly believe you are best served by an agent who is an expert in the neighborhood in which you are selling or buying.
I agree that a local agent is preferred to an out of area agent because they are often in the best position to compare and contract value and manage expectations of both the buyer and the seller.

The reason is that a local agent is in a better position to know the inventory because they have been inside the homes. Out of area agents tend to rely only upon public information within the MLS. They have no way of knowing if the floor plan is ackward, the basement is a cesspool, the house next door is from hell-o and so on.

Having said this, local means different things in different parts of the country. 15 minutes in a rural area may not be feasible.
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Old 02-01-2008, 04:24 PM
 
Location: Southold, New York
22 posts, read 25,798 times
Reputation: 10
I don't know what the flavor of your area is, but in our location, local is better for this reason: in a small town, the local agents know many people. If your home is listed with someone in your town, they are more likely to take advantage of word-of-mouth on their own listing- mentioning it at local venues, etc. If your area is larger and without the small town feel, it probably doesn't matter who lists it, as long as the price is commensurate with closed comparable sales. Good luck- while it's tough out there, well priced properties still attract buyers.
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