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Old 09-25-2019, 10:13 AM
 
Location: Raleigh NC
10,069 posts, read 7,561,851 times
Reputation: 8665

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I completely agree that the:

* missing an easy comp (something clearly a comp, listed through MLS)
* whatever this is with wrong square footage
*poorly-written description

are errors that shouldn't happen in the first place.

And he probably should be more "aggressive" in soliciting feedback. But he could/should also explain the reality - lots of agents don't provide feedback at all, or useful feedback. So while we can call every agent that shows, and ask them directly, it doesn't really increase the chances of getting useful feedback.

And setting expectations BEFORE you ever made an offer on another property should have happened. Some of that is explaining the appointment setting and feedback "system". A LOT of that is "here's how long it should take to sell your home".

If you'd like to get some individual feedback on your home, feel free to DM me the link. I have given confidential, off-board critiques several times before without divulging anything about person al details to the anonymous internet.
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Old 09-25-2019, 10:33 AM
 
127 posts, read 31,594 times
Reputation: 149
Quote:
Originally Posted by BoBromhal View Post
I completely agree that the:

* missing an easy comp (something clearly a comp, listed through MLS)
* whatever this is with wrong square footage
*poorly-written description

are errors that shouldn't happen in the first place.

And he probably should be more "aggressive" in soliciting feedback. But he could/should also explain the reality - lots of agents don't provide feedback at all, or useful feedback. So while we can call every agent that shows, and ask them directly, it doesn't really increase the chances of getting useful feedback.

And setting expectations BEFORE you ever made an offer on another property should have happened. Some of that is explaining the appointment setting and feedback "system". A LOT of that is "here's how long it should take to sell your home".

If you'd like to get some individual feedback on your home, feel free to DM me the link. I have given confidential, off-board critiques several times before without divulging anything about person al details to the anonymous internet.
Thanks, BoBromhal!

I guess we just feel like we're micro-managing this transaction, for better or for worse. And that's something I don't really want to do, as we both have enough on our plates to begin with.

The setting expectations piece would have been helpful. Up front, he made it sound like we were positioned extremely well in the market, because there are no other homes for sale in our particular community. When we didn't sell after the first weekend, he blamed it on another home in another neighborhood going up for sale. He then said he'd be surprised if we didn't sell in three weeks. When that didn't happen, he sent me a CMA he put together saying now the average days on market is 72 days! For what it's worth, this does not mesh with the most recent report I pulled from the Denver Metro Association of Realtors which showed an average days on market in the 30-35 day range (https://www.dmarealtors.com/city-and...reports-sep-19). We live in Denver, still relatively a seller's market. Being on the market for almost 2.5 months seems absolutely absurd to me.

He just seems baffled and not in tune with the local market. In a sense, he seems to be winging it and flying by the seat of his pants.
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Old 09-25-2019, 11:16 AM
 
Location: Research Triangle Area, NC
3,958 posts, read 2,728,447 times
Reputation: 5797
Well....this just got more interesting...

As an aside...not sure about CO/Denver MLS....but here using the tax records as the source for sq footage is a big no-no. Agents are supposed to measure themselves or (as is much more common) hire a licensed appraiser to measure square footage.
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Old 09-25-2019, 12:02 PM
 
Location: Columbia, SC
9,178 posts, read 18,274,828 times
Reputation: 6863
Seller, sometimes you can be right or you can get paid. It seems you're more concerned about doing things your way than getting the home sold. If the home hasn't sold, it's ultimately because buyers don't believe in your price or condition. If you're getting a lot of showings then they like the price on paper and are rejecting it in person because the condition isn't meeting their expectations. If you aren't getting showings, it's because they don't believe in your price. Awesome marketing cannot overcome a pricing issue.
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Old 09-25-2019, 12:06 PM
 
127 posts, read 31,594 times
Reputation: 149
Quote:
Originally Posted by Brandon Hoffman View Post
Seller, sometimes you can be right or you can get paid. It seems you're more concerned about doing things your way than getting the home sold. If the home hasn't sold, it's ultimately because buyers don't believe in your price or condition. If you're getting a lot of showings then they like the price on paper and are rejecting it in person because the condition isn't meeting their expectations. If you aren't getting showings, it's because they don't believe in your price. Awesome marketing cannot overcome a pricing issue.
We told our agent what we were hoping to get from the sale. We gave him a number, and we asked him if it was reasonable. He gave us a resounding 'Yes'. I have relied on him from Day 1 for that expertise. We have not demanded anything from him on pricing. All we are able to go by are comps in our area.

I've asked him other times if he thinks we're priced right as traffic passed through and we received no offers. The comps in our community would indicate we're priced in the middle, not the highest nor the lowest.

We've received some feedback from other buyer's agents that our price is good.

I've gone back to our agent and asked again about whether we are priced right. We are supposed to have a meeting this week to re-assess our position. Up to this point, he has offered little to no insight or expertise or advice to us, and we've been begging him every week to figure out what we can do better. He tells us "it's a waiting game".


As a seller, what else can we do? This is why I posted here. He's not helping advise us on what we are doing wrong.

Last edited by iSudo; 09-25-2019 at 12:17 PM..
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Old 09-25-2019, 05:09 PM
 
19,045 posts, read 21,013,699 times
Reputation: 28255
Quote:
Originally Posted by iSudo View Post
I've only worked with one, and we've only continued with him because of our success and experience in the past. But I'm suspecting that much of that success was attributed to a fire hot real estate market where everything happened so quickly that there was no time to sit back, analyze, and troubleshoot. As I've worked with him during a slower market, I'm beginning to realize things I don't like about him. Essentially, he has listed our house on the MLS and held a couple of open houses that I wasn't wild about to begin with. But he has provided little to no other services or expertise beyond that.

I work in the brokerage/consulting world in another industry, but we go miles above and beyond in service to our clients. We're not just pushing them towards products or services we like or have relationships with, we are researching and analyzing and producing data and insights to them about their options so they can make informed decisions.

I feel like my agent has been nothing more than a glorified admin assistant or project coordinator, but not my adviser/consultant during this process. But granted, maybe this is the norm rather than the exception.

So what should we expect from an agent going forward? What separates the great from the mediocre?
You’re not doing anything wrong. He simply doesn’t know what to do because he can’t bring a buyer to the table. I’m betting his suggestion is to lower the price.

Christ on the last few year you would need to be dead not to be able to sell a house. I could of sold a house by pounding a yard sign saying for sale.

That’s because some of them don’t do anything other than list, throw a few open houses to get “leads”. My experience with agents...most agents have the imagination of a rock. And yes I interviewed and dealt with enough of them to know. Yeah here are a few who are good and made money through the bad times but most agents get carried by a good market. . Now the market has been hot again they’re polishing off those RE licenses and going out to make money. When the market goes to crap they will go do whatever they did before.
Those are the agents you want to hire. The ones who can sell and buy in a crap market. Those are the thinkers doers.

Then the buyer comes along (which would come along regardless who listed it) and HEY Bob you’ll be glad to know we have a buyyyyyyyer. Bang up job ol chap. Let’s get this deal penned in shall we. Now....I need you to drop the price 30,000 to make this deal happen. Now now I know it’s only a couple of hundred bucks off my commission but it’s thousands of dollars of lost money for you. See how my mediocrity works? But you want this deal to happen so you can move on with your life and family right? And I really want to close this deal so I can make the payment on my overpriced flash mobile and take that vacation to Maui.

Obviously I’m exaggerating a tad, but the truth of the matter is that the bar for entry into a real estate agent career is pretty low. The exceptionally smart ones tend to be successful in good and bad times. The rest are basically actors waiting tables. You probably hired one of those.
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Old 09-25-2019, 07:49 PM
 
7,301 posts, read 4,068,175 times
Reputation: 16470
The best realtor I had went through the house and advised us on how to make the house sell faster & avoid other problems.

She told us to get rid of anything we weren't planning on taking when we moved. Keep stuff off the bathroom & Kitchen counters. Nothing on the fridge, like kid's artwork. Keep New Unused towels to put out before every showing. Don't let dirty laundry collect & use hampers with lids. Open window coverings before showings. No family pic, perfume bottles or jewelry boxes out. Close closet doors. Sounds like common sense, but hearing it from the realtor made everyone more cooperative.

She had a Professional take the pictures of the home, and either she or her business partner were always available.

Last edited by Harpaint; 09-25-2019 at 08:08 PM..
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Old 09-26-2019, 07:24 AM
 
6,729 posts, read 3,735,163 times
Reputation: 6205
I would sum it up as "say what they'll do, and then actually do what they say".

Many do the first, not so many deliver on the second. I had a selling agent in NY who said "I'm going to get you an offer today". She did. When we later sold again we used her and despite being the slow period she said "I'm going to get you an offer in 30 days". Again, she did.

I'll always refer her to anyone because she delivered for us. Twice.
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Old 09-26-2019, 07:27 AM
 
6,729 posts, read 3,735,163 times
Reputation: 6205
Quote:
Originally Posted by Harpaint View Post
The best realtor I had went through the house and advised us on how to make the house sell faster & avoid other problems.

She told us to get rid of anything we weren't planning on taking when we moved. Keep stuff off the bathroom & Kitchen counters. Nothing on the fridge, like kid's artwork. Keep New Unused towels to put out before every showing. Don't let dirty laundry collect & use hampers with lids. Open window coverings before showings. No family pic, perfume bottles or jewelry boxes out. Close closet doors. Sounds like common sense, but hearing it from the realtor made everyone more cooperative.

She had a Professional take the pictures of the home, and either she or her business partner were always available.
Common sense but not everyone follows common sense.

We had a situation where we were selling after we moved out, so the home was empty.

First agent said it was fine. Didn't get anything other than the lowest of lowball offers, yet comps and price were fine.

Got a second agent, was starting to go down the same path, although there was more showing traffic. Home was now on market for 6 months.

Neither suggested staging the home, and I finally pushed. Expensive but we got an acceptable offer in 3 weeks after staging and getting new pictures taken.

It was clear that the market dictated staging a home appropriately. Yet neither agent - both ones with many previous sales and "top producers" - thought to suggest it.
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Old 09-26-2019, 07:36 AM
 
6,729 posts, read 3,735,163 times
Reputation: 6205
Quote:
Originally Posted by Brandon Hoffman View Post
Seller, sometimes you can be right or you can get paid. It seems you're more concerned about doing things your way than getting the home sold. If the home hasn't sold, it's ultimately because buyers don't believe in your price or condition. If you're getting a lot of showings then they like the price on paper and are rejecting it in person because the condition isn't meeting their expectations. If you aren't getting showings, it's because they don't believe in your price. Awesome marketing cannot overcome a pricing issue.
"Condition" doesn't necessarily need to mean diamond, etc. It could be that prospective buyers don't like the floors, or the color of the paint. In my previous case it was the kind of wood-look porcelain tile on the floors (Florida home so tile was appropriate) that really turned on 20% of the buyers but wasn't what 50% of the buyers expected given the market. Everything else was literally perfect.

My house was empty so it really was noticeable. Once it was staged the effect was muted and totally ceased to be seen as an issue. Went to contract in 3 weeks. Unfortunately my agents never recommended this and we lowered the price more than we really needed to instead.

"Expectations" also have to be suited to the market. In my home's case it should never have been on the market empty. Both agents should have picked up on this and made a recommendation.

In other markets that's not seen as a problem (and in smaller homes could be an advantage as it looks bigger.)
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