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Months listed -- 9. Offers made -- 0. Is it time to switch Real Estate Agents?

By Craig Snead

Services for Real Estate Pros with Quality Home Investments, LLC / Dearborn Heights, MI

July 19, 2011 02:20 AM

Months listed -- 9. Offers made -- 0. Is it time to switch Real Estate Agents?

Here's the situation the seller is in. They have a completely renovated, move in ready, home.

The MI. listing was started in November of 2010 .

Now the seller understands that with winter and the holiday season coming, this isn't a good time to list but the seller wants to get the house sold. Better to be listed than not. The seller suggests a list price and the agent adds a couple thousand dollars based on research. The agent has an open house. Being a new listing, there's a couple of showings in November.

Fast forward to March 2011. Two showings through the winter months.
The seller wants more activity so the agent suggests creating a new listing with a lower price. The seller suggests a price and the agent adds a couple thousand dollars based on research. The new listing gets some showings for a few days and then nothing.

Now it's mid May. The selling season is starting to heat up but there's no showings or even one offer to date. The agent says the home is not selling because the price is too high.

It's the same price that the agent suggested both times based on research. Now the agent suggests a price reduction and an open house. The seller agrees to a price drop.

One open house and three showings later, still no offers.
There's no open house or showings in June. The seller is getting anxious.

WHY isn't there any interest in this home?

Why hasn't there been ONE OFFER yet?

Should the seller get another agent?

Would the results be the same?

Can the seller get out of the contract?

After being listed for nine months, the seller was expecting at least ONE offer. The home is now stigmatized for the number of days on the market.
What's a seller to do?

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Ben Benita

Ben Benita - Gainesville, VA

Speaker, Author, Game Changer, Coach

just another example of an agent not doing his/her marketing....if they had more listings, THE AGENT WOULD FIRE THE CLIENT!!!!

The house is over=priced, no other reason ot to have an offer.

Likely over-rehabbed the property and they are trying to avoid a short sale ( or don't know anything about short sales)

Jul 19, 2011 02:19 AM

Debbie Laity

CinaJones Real Estate - Cedaredge, CO

Your Real Estate Resource for Delta County

The seller needs to interview other agents and see what the other agents think the property is worth. Each time the agent has listed the house higher than what the seller wanted. Maybe the seller has a better idea of what the market is doing and needs to have a "come to Jesus" talk with their agent about pricing.

Jul 19, 2011 02:26 AM

Fred Hookham

Keller Williams - Milton, WI

I'm not generally the "Fire the Agent" type of guy, but following the agent's advice has lead to the current "shopworn" situation.

Start fresh with another agent that will bring a list of comparable sales for the last thirty days, and a list of comparable properties currently on the market. The seller needs to come back on the market as the best value in his neighborhood, supported with the best advertizing program.

If you price it right, they will come!

Jul 19, 2011 02:36 AM

Allen 2222

Austin, TX

Shopworn. Needs new price, new photos, probably change how the interior looks via updated staging. Otherwise, everyone will keep skipping it.

Jul 19, 2011 04:00 AM

Craig Snead

Quality Home Investments, LLC / Dearborn Heights, MI - Dearborn Heights, MI

Real Estate Investor

Ben, pricing is always an issue when selling. The listing agent set the price based on research of recent sales in the area.

Debbie, the agent that the seller originally interviewed, took the listing and then handed everything over to an underling in the office. The original interviewed agent hasn't even handled any of the process to date.

Fred, the seller is considering a new agent but is not sure how to get out of the current contract.

Alison, the home has been around for a while and it makes people wonder what's wrong with it.

Jul 19, 2011 07:02 AM

Lee & Pamela St. Peter

Berkshire Hathaway HomeServices YSU Realty: (919) 645-2522 - Raleigh, NC

Making Connections to Success in Real Estate

☂Craig, just moseyed on over to see how things are going in your world. Any luck on this situation? Hope all is well with you. Make it a great week!
Pamela

Aug 01, 2011 05:44 AM

Pamela, the seller said that there's an offer about to be presented in the next day or two. Thanks for checking on me. I'm alive and well. Just haven't been playing in the Rain much. Too nice outside.

Rosemary, apparently, the seller originally spoke with and hired a different agent in the office and that agent passed it on to the current agent working the listing. The seller called the original agent and said they wanted out of the contract. The original agent agreed to take it over personally for thirty days and get it sold. An offer is about to be presented.

Aug 02, 2011 03:36 AM

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