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Old 01-10-2012, 02:23 PM
 
11 posts, read 18,138 times
Reputation: 10

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Hi,
We had our house for sale for 5 months and not a single offer and very few showings. We went with the list price recommended by our realtor and have since dropped the price 10%. She says we are priced right, but there is no activity.

Our contract with our realtor is expiring soon, should we go with someone else? Would another realtor really make a difference in selling the house?

Thanks
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Old 01-10-2012, 02:29 PM
 
Location: Salem, OR
14,944 posts, read 36,730,621 times
Reputation: 15398
Quote:
Originally Posted by SDQEWR View Post
Hi,
We had our house for sale for 5 months and not a single offer and very few showings. We went with the list price recommended by our realtor and have since dropped the price 10%. She says we are priced right, but there is no activity.

Our contract with our realtor is expiring soon, should we go with someone else? Would another realtor really make a difference in selling the house?

Thanks
Maybe. Maybe not. What does the rest of your marketing look like?
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Old 01-10-2012, 02:37 PM
 
Location: California
5,751 posts, read 6,516,109 times
Reputation: 12179
You can also list on a For Sale By Owner site and save yourself a lot of money. Just be sure to have a real estate lawyer supervise everything whether you hire a sales person or not. You can check your local sales trends through your newspaper or other web sites. Selling a home isn't rocket science so with a little research you can see whether homes in your area are selling and for what price. Your local title company also has free advice on what documents are needed when buying or selling. I have found them to be a vauable source of free infromation as they don't have a financial interest in the outcome.

It is early in the year so be patient as within the next few months, the buyers will be out in force so no need to get into a long term contract with anyone to sell your house at last year's price. Just be sure it is in good condition so are ready to go when you buyer comes along. Be a price leader, not follower.

Best of luck to you and keep all your options open.
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Old 01-10-2012, 02:48 PM
 
11 posts, read 18,138 times
Reputation: 10
The pictures look good and the house is on all the internet sites, the local real estate magazine and she does post it on craig's list at times and there are fliers outside on the for sale sign. She hosted a realtor's luncheon and had 2 open houses.

Is there anything else that she could be doing? This is our first home so we have very limited experience dealing with realtors. I hate to stick with her and have the house sit for another 6 months, but at the same time I also do not want to go with someone else if she is doing all she can.

We do not have the expertise or time to do a FSBO. We are relocating due to work and need to sell in the next couple of months.
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Old 01-10-2012, 02:51 PM
 
Location: Salem, OR
14,944 posts, read 36,730,621 times
Reputation: 15398
Quote:
Originally Posted by SDQEWR View Post
The pictures look good and the house is on all the internet sites, the local real estate magazine and she does post it on craig's list at times and there are fliers outside on the for sale sign. She hosted a realtor's luncheon and had 2 open houses.

Is there anything else that she could be doing?
These are solid marketing avenues. You can always interview other agents and see if you find someone you like better. How many agents did you interview before hiring your current one?
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Old 01-10-2012, 02:58 PM
 
11 posts, read 18,138 times
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Quote:
Originally Posted by Silverfall View Post
These are solid marketing avenues. You can always interview other agents and see if you find someone you like better. How many agents did you interview before hiring your current one?
Just her because she was recommended by a friend who listed their house with her.
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Old 01-10-2012, 03:04 PM
 
Location: Salem, OR
14,944 posts, read 36,730,621 times
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Quote:
Originally Posted by SDQEWR View Post
Just her because she was recommended by a friend who listed their house with her.
Ah. Pick three agents to interview. Tell them your listing is getting ready to expire and you are thinking about changing agents. They will come and do a presentation for you. That way you can compare what they will do for you vs. what she is doing for you.

Here is how I would pick agents to interview.

Get online and find homes that are priced similarly to yours, meaning don't look at luxury homes if you have a $200k home. You want to see how an agent will market a home priced liked yours.

Flip through listings online. Start looking for listings with high quality images. Write the names of agents down. Then look at descriptions and see how filled out their data is. Do they use video tours? So the homes looked decluttered and staged? You should have a really small group of agents now.

Drive by a couple of listings for each agent and see if they use flyers, text, or 1-800 numbers to promote the house for drive-bys.

If all that looks good you should have some names to call for interviews.
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Old 01-10-2012, 03:18 PM
 
Location: Barrington
59,921 posts, read 40,978,651 times
Reputation: 19353
5 months, few showings and no offers means one thing, it's was not positioned to sell. Your asking price is not taking into consideration some or all of the following; location, condition, competition and the facts of your local market based on recent closed sales of comparable properties.

How much was that reduction, expressed as a percentage, of the original asking price?


Is your current agent local? Does she have first hand knowledge of your competition? Has she explained why some of your competition has sold and closed while you sit amongst the unsellables?
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Old 01-10-2012, 03:22 PM
 
3,398 posts, read 4,729,481 times
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Quote:
Originally Posted by Heidi60 View Post
Be a price leader, not follower.
.
What does that mean?
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Old 01-10-2012, 03:24 PM
 
3,398 posts, read 4,729,481 times
Reputation: 2414
Quote:
Originally Posted by SDQEWR View Post
The pictures look good and the house is on all the internet sites, the local real estate magazine and she does post it on craig's list at times and there are fliers outside on the for sale sign. She hosted a realtor's luncheon and had 2 open houses.

Is there anything else that she could be doing? This is our first home so we have very limited experience dealing with realtors. I hate to stick with her and have the house sit for another 6 months, but at the same time I also do not want to go with someone else if she is doing all she can.

We do not have the expertise or time to do a FSBO. We are relocating due to work and need to sell in the next couple of months.
No, I can't think of anything else she could be doing. I think it is time to lower the price again.
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