Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
We signed a 2 year exclusive with our metro NYC agent but realize now we cannot afford to move for a few more years, so the contract is a moot issue.
I just want to say that I am very disillusioned with the agent because they gave us a low-ball price on our house. We are VERY realistic about the value of our house and found that comps in our area were going for as much as $75K more (selling price, not asking) and they really aren't even comps, smaller and not any more bells and whistles, or less of them, usually. (I did some open house visits to check out houses near ours, in exactly the same area.)
We are not the kind to think our house is worth more than it is. When I told neighbors the realtors suggested price, they told me we were being low balled and that the house is worth more.
By the way, the agents had a buyer the day we signed. I am not surprised. It was a rush job, make 6% and run.
Martha Anne, I'm not sure if you have already sold your home or not but, if I read you correctly, you have not. If not, I don't see why you can't raise your price, especially if you can prove it was priced too low in the first place. However, if you are truly priced too low, you should be receiving multiple offers and, if you are not, you need to reevaluate how valuable your neighbor's opinions are. Neighbors always want you to price higher because they incorrectly believe you are protecting their property values by doing so.
I agree. A two year listing agreement? I can see that for a really high end luxury property that will indeed take 2-3 years to sell, but $75k is chump change on those properties and not a lowball.
How many agents did you interview before hiring this one to list your property?
It sounds to me like they did get under contract as they said the agent brought a buyer right away, "rush, rush job" she said. So they feel since now they don't have enough cash to buy another property because they sold it for much less than they feel they should have. However, she didn't actually say they are under contract on the property. Only that the listing contract is moot.
Listening to neighbors is bad business, neighbors aren't in the real estate business as someone said, they want to "up" their own property values and not see the neighborhood prices dropping.
If they don't want to sell the house they should not have signed the purchase contract, obviously now it seems they agreed to the price. Maybe they didn't have anything in mind to buy, they were caught short by a quick sale and have no idea what is available for them. Sellers remorse possibly. ? There's always more to the story.
I'm a little confused as well in regards to whether the house sold or not.
Two year agreement? That screams of becoming stale, if it doesn't sell, or at least a long track record of price adjustment, etc.
No way would I want to take a listing for 2 years - I've got more confidence than that that the house would sell if priced correctly in the first place.
We signed a 2 year exclusive with our metro NYC agent but realize now we cannot afford to move for a few more years, so the contract is a moot issue.
I just want to say that I am very disillusioned with the agent because they gave us a low-ball price on our house. We are VERY realistic about the value of our house and found that comps in our area were going for as much as $75K more (selling price, not asking) and they really aren't even comps, smaller and not any more bells and whistles, or less of them, usually. (I did some open house visits to check out houses near ours, in exactly the same area.)
We are not the kind to think our house is worth more than it is. When I told neighbors the realtors suggested price, they told me we were being low balled and that the house is worth more.
By the way, the agents had a buyer the day we signed. I am not surprised. It was a rush job, make 6% and run.
That about describes it all! There are good real estate agents out there but this one sounds like a slap in the face to the profession!!
Quote:
Originally Posted by MaseMan
Why did you agree to list at the price if you disagreed with the realtor's assessment?
As consumers we are told to trust our realtors as they know what the market is like. Some of these realtors are very smooth talkers and once you sign on that dotted line your screwed!
We signed a 2 year exclusive with our metro NYC agent but realize now we cannot afford to move for a few more years, so the contract is a moot issue.
I just want to say that I am very disillusioned with the agent because they gave us a low-ball price on our house. We are VERY realistic about the value of our house and found that comps in our area were going for as much as $75K more (selling price, not asking) and they really aren't even comps, smaller and not any more bells and whistles, or less of them, usually. (I did some open house visits to check out houses near ours, in exactly the same area.)
We are not the kind to think our house is worth more than it is. When I told neighbors the realtors suggested price, they told me we were being low balled and that the house is worth more.
By the way, the agents had a buyer the day we signed. I am not surprised. It was a rush job, make 6% and run.
I agreed with everyone else that says 2 years is too long.
When you say houses are going for $75k more, did houses actually sell for this or are there just houses out there priced that much higher , but still on the market?
The blank on the form for the listing price is supposed to be filled in BEFORE the seller signs the listing agreement. Did you sign the agreement with the lowball price in there?
It is ultimately the sellers decision as to what to list the house at. Of course, real estate agents are supposed to be providing truthful information for that decision to be based on.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
