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Our home is on sale since last 3 months. There has been a lot of traffic just based on the listing but we are yet to see offers. Recently we decided that we would change our listing to for sale or lease. Last week we found that our listing agent is also the listing agent for our neighbor right down the street,the agent is now emphasising on lease prospects more than selling ones. I feel that there is a conflict of interest here, any thoughts?
If you've received no offers, how could she emphasize a purchase prospect? Remember, she works on commission, and a lease commission doesn't pay the bills. Her number one priority is to sell the place, but if you have no interest, she can't force that.
Agree, first priority for an agent would be to sell the home, not lease it. I don't see a conflict. If you are not getting offers after 3 months with showings, you likely need to lower your price.
I don't see any kind of conflict. Of coarse there will be many more people looking for a lease then to buy. Like above if you are not getting any offers, drop price. Otherwise take the lease.
I'm confused. Do you think the conflict of interest is between her trying to sell while also trying to lease your place or is your problem that she's trying to sell/lease yours while also trying to sell your neighbors?
If you have a lot of traffic and no offers the price is to high. There is no conflict with having another listing in the same area. In fact, it probably helps.
If you have a lot of traffic and no offers the price is to high. There is no conflict with having another listing in the same area. In fact, it probably helps.
I have seen the "if traffic is there and offers aren't , drop price" line too often lately and I feel that it is bears mentioning that things aren't ALWAYS that easy...
The BEST thing about "good traffic" is that it VALIDATES your agent's marketing / communication -- your property is GENERATING INTEREST to a degree that folks want to SEE MORE OF IT.
It is entirely possible that there is mismatch between the EXPECTATIONS that the marketing plan has built up and the actual house. Some of this mismatch CANNOT be reconciled by price reductions -- folks that did not realize that there are high tension lines in the back yard, or another kind of problem that no amount of cash can "fix" just won't do the trick.
It is also possible that the marketing plan was tuned into the largest available pool of buyers, but the properties that appeal to those buyers are in abundant supply. Until that supply because constrained it may not be prudent to reduce one's price, as once that supply get exhausted and the homes remain desirable prices may sharply rebound. This is not unlike the situation of some specialty cars having very high resale during most times...
No offer really does mean "no offer" -- it DOES NOT automatically mean "too high a price"...
.....It is entirely possible that there is mismatch between the EXPECTATIONS that the marketing plan has built up and the actual house. Some of this mismatch CANNOT be reconciled by price reductions -- folks that did not realize that there are high tension lines in the back yard, or another kind of problem that no amount of cash can "fix" just won't do the trick.......
No offer really does mean "no offer" -- it DOES NOT automatically mean "too high a price"...
I am firmly in the camp of "there is a right price for every house." If you have high tension lines in your backyard the price needs to be lower than other similar houses without high tension lines in the backyard. At some price the house becomes a good enough value for buyers to consider it. After all-the current owner bought it with high tension lines in the backyard (most of the time).
As a recent buyer I saw lots of really nice houses that were VERY mispriced. Some by a few hundred thousand. They are houses that COULD sell, they were quite lovely, but just very very mispriced. When a house is nice, but very over priced it becomes difficult to negotiate with the sellers. Thus-no offers are generated. Not ever lowball offers. How do you offer someone $650K for a house they have listed at $900K?
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Too simple...
