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Old Today, 09:53 AM
78 posts, read 18,290 times
Reputation: 114


I was going to start a new thread, but I figured I'd continue off of this one.

Here are some recent developments with our home selling endeavor.

We've officially been on the market for three weeks. After two open houses and 30+ showings, we've yet to have an offer. Some were close to making an offer, but settled on other options that we available.

We are priced in the middle of our comps in our community and on the low end of other homes in the area, so my agent as well as some of the feedback we received from other agents are convinced we are priced well. While we might consider a $5k price drop at some point, that's about as low as we're willing to go based on ROI proceeds we want.

We've had more issues with our agent that I'm not pleased with. There have been so many grammatical and spelling errors in our marketing materials, that we had to re-write it ourselves.

We've caught him in at least one suspected lie. He told us he was waiting on feedback from a buyer's agent, and would call us later in the night. He called us and let us know the feedback he was apparently waiting on. He later forwarded us an email from the same agent with her feedback that was time stamped from earlier in the afternoon. While overall not a big deal, this is a breach of trust in our eyes.

He's not providing us with specific feedback about why people aren't interested or how we can fix it. When I signed up for this agent, I was expecting him to not only be the administrator of the deal, but also an adviser.

Our agent has proposed another open house, but after the dismal results of Open House #2 with one interested party showing up, I told him we aren't interested in that. We are in a community that is off the beaten path; people who are serious about our home will have seen it online and booked a showing with their agent.

Showings seem to be tapering off. We had one the entire past weekend, and the prospective buyers complained that we had too much stuff. As far as what stuff they were concerned about, we don't know. We've decluttered for the umpteenth time now. We're essentially living in a museum at this point with barren walls and no personalized items whatsoever.

We are giving it another week before we decide if it's best to take the home off the market or choose another listing agent who can truthfully and faithfully offer us the expertise we need.
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Old Today, 11:49 AM
Location: SoCal, but itching to relocate
341 posts, read 216,780 times
Reputation: 364
Originally Posted by vladlensky View Post
As for a formal appraisal, there have been 2 recent ones done - one by the town as part of a tax reassessment; the other done when we refinanced last year. Both came in at the same number give or take a thousand dollars, and about 5k less than our current asking price.
When we had our house appraised, the appraiser said his job was to estimate what the actual market value was, whereas realtors (more or less) tell you what they hope it will sell for...and they tend to shoot high because they want you to list with them.

If last year's appraisal was only $5K less than you're currently asking, I'd say you're priced okay unless something has changed to the negative (even market conditions).

I'm a "percentage" type of person, so saying your agent suggested a $50K price drop is kinda meaningless to me if I don't know what percentage $50K is of the current asking price.
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