Real Estate agent not able to sell house in Plano (foreclosure, neighborhood)

[UnfairPark]

Originally Posted by DitsyD

Many people CAN'T overlook the house's lack of appeal to see the bones. As a seller, why ignore what is a significant number of potential buyers because YOU think they should be able to imagine what could be.

Agreed. That piece of advice was for the other poster (precisionk) who is a buyer, not for the original poster.

[RJ312]

A house sitting on the market for 150 days in Plano indicates that there is a problem. This isn't a Rust Belt market. Plano is a decent market. This house is also zoned to some high quality school districts. Countless threads pop up on this board about real estate buyers wanting good school districts. The house being in a good market (Plano) and in a good school district should be enough to sell it in less than 150 days.

When I was living in Phoenix in the mid-2000s in a hot housing market, most real estate agents had a way of thinking. Any home that was on the market more than 30 days was garbage and not worthy of their time in showing to clients. That line of thinking in pervasive in all Sun Belt markets. Metro Dallas of 2010-present is a lot like Phoenix 2000-2006.

This is a vacant, empty house as well. The good news is that there is no clutter. The bad news is that it will be need to be staged.

We don't know if the pricing is effective.

This is how I would approach the problem.

1. Pull the house off the market to reset the number of days on the market.
2. While the house is off the market, re-stage it.
3. While the house is off the market, re-evaluate the price point.
4. Evaluate if the current agent is effective, get a new agent, or do some sort of FSBO arrangement. I tend to think real estate agents aren't all that great, and the 6% commission should be saved. FSBO and a good real estate lawyer to draw up the contract for sale is often effective and less expensive than having a real estate agent. However, there are situations where having a real estate agent makes sense.

I think doing these things will aid in getting the home sold.

[Rakin]

1. Your house is overpriced.
2. Your house needs updating and work, which if it does see #1.

[Katana49]

What year was the house built? Sq footage? Lot size?

[turf3]

Don't forget, also, that a lot of buyers in the Plano area are from other countries and cultures, and demand new new new new on everything. Since the house isn't actually new, you had better make sure it looks as new - touch up every little paint ding, new carpets everywhere, etc. If you don't do this, you won't even get to the price question. The people who insist on the house being as new, it won't matter if you cut the price by half, they still won't buy it.

[zerolast]

I'm moving to Dallas from up north and just ended my second house hunting trip. I saw 40 homes in the 400k-550k range from Far north Dallas to coppell. There were many, many homes with old painted cabinets, original toilets, poor paint color choices, jacked-up trim, worn floors, horrible foundations, etc... To get top price you need updates. The market is softening and everyday I get approx 6-8 homes from my realtor with price drops. Funny thing, the house we ended up buying was on the market 1 day with 4 offers. It is older, needs some updates, but was just underpriced for the location, lot, and pool. To make a long story short, lower your price or offer to rent. Good luck.

[Aqua Bliss]

On Redfin the longest “days on market” home I found in Plano was 105 Days. Sounds weird I know but that’s what it showed. Maybe your home isn’t being properly included in all the listing services.

[Rakin]

Originally Posted by Aqua Bliss

On Redfin the longest “days on market” home I found in Plano was 105 Days. Sounds weird I know but that’s what it showed. Maybe your home isn’t being properly included in all the listing services.

I did a quick search yesterday trying to find his home in his zip code and there are 9-12 homes in the MLS that are 100-400 DOM. Quite a few were 150+ DOM.

I think I know which house is his but OP has not been back to discuss the advice given. Usually it's a combination of condition, pricing and a poor choice in RE Agents.

It does make a difference picking the right RE Agent and company. Many people just go with who will discount their fees the most thinking all service, knowledge and experience is the same.

It's not.

[TexasRedneck]

Originally Posted by Rakin

It does make a difference picking the right RE Agent and company. Many people just go with who will discount their fees the most thinking all service, knowledge and experience is the same.

It's not.

THIS.

As with any other product, quality comes at a cost - and with RE folks, the one willing to list "for cheap" is going to usually give you the same results - and service. It only stands to reason - if I can make 3% (split w/my broker) on one home, why am I going to do yours for half that - unless I'm new or a substandard operation that under performs? I've got friends in the field - there's NO way I'd do their job. Nights, weekends - it doesn't matter, your client calls, you go - or they'll call the guy on the listing and buy it from THEM. That means you're on your toes and give 110% every day - and you DESERVE to be well compensated for that. That also does NOT give your clients carte blanche to abuse you and/or your time....although many will.

OP has yet to reveal which is their property - and I have a feeling it's because they already know the answer. If I was in the same situation and came here to vent on it, you can BET I'd have disclosed that in the first post IF I was sincerely trying to figure out the issue. If their realtor hasn't already told them the problem (which I'd be willing to bet that they have) I'd be surprised.

[Rakin]

Originally Posted by TexasRedneck

THIS.

OP has yet to reveal which is their property - and I have a feeling it's because they already know the answer. If I was in the same situation and came here to vent on it, you can BET I'd have disclosed that in the first post IF I was sincerely trying to figure out the issue. If their realtor hasn't already told them the problem (which I'd be willing to bet that they have) I'd be surprised.

A home in Plano with great Plano schools that has not sold has problems. The OP has probably been told by his agent and knows why it has not sold. If so it's the OP's fault. If the agent has not told him why it has not sold, it's still the OP's fault.

He's on here wanting us to tell him something that his agent should be telling him.

And don't rely on feedback from other showing agents, most of the time it's idiotic feedback that really does not matter.