Realtor Problems or not?

General Real Estate Investing
1

Hey REI’s,

I’m selling another property with a Realtor (not the same property as a previous post). Anyways, here’s the thing.

My house has been on the market about 3 weeks and we’ve only had 3 showings. My Realtor set the price and talked a good game on how the higher price was justified. Now she wants to drop the price by 5k, only to get more showings. :bs

She also doesn’t believe in open houses, and I had to ask her to put up a directional sign. :banghead

Am I right to feel like she’s not working hard enough? :help

2

Your agent may or may not be right.

The thing is you aren’t happy. Don’t forget, you’re paying the Realtor, and there’s thousands more out there who are hungry. Fire her (if possible) and hire somebody you’ll be happy with.

3
The thing is you aren't happy. Don't forget, you're paying the Realtor, and there's thousands more out there who are hungry. Fire her (if possible) and hire somebody you'll be happy with

I absolutely agree. When your contract is up, kindly thank the current realtor and move on. In the interim, i would be networking to find out who the hungriest and most creative realtors are in your area.

4

Great … 6 months of bliss… :banghead2

5

I put this question to my wife and here is her reply:

As a realtor selling 1.5 million+ a month consistently for 9 years, here’s what I can share.

#1 Directional signs are normally picked up by the city at the end of the day anyway and do no good because it is unreasonable to think that a sign can stay out for an extended period of time. Good for her that she even bought any.

#2 She tried to get you a higher price - good for her!!! If you do not get an offer or minimal showings in 10 days you should reduce. The longer your home stays on the market, the less likely it is to sell at that price.

#3 Good interior / exterior photos sell homes and a awesome MLS presentation.

#4 Next important component has to be curb appeal and how the home looks the first 5 seconds the door is opened - pet smells, dirty walls, dirty carpet, ugly paint - all that pops out the first 5 seconds.

#5 Make sure your home is available when realtors call to set an appointment - if not, they just move onto the next.

#6 Open houses do not sell homes! If someone is serious about your home - they will set an appointment. I’ve had jewelry stolen, furnaces taken out, air conditioners removed, appliances taken. Unqualified people coming through open houses and scouting the home out is what happens at open houses. In today’s world, an open house targets you and your family for crime, not to mention the potential physical harm that a realtor puts him/herself into by sitting in a vacant home.

If you want your home to sell, listen to your realtor and what she is telling you. Seriously, did she want the higher price or you? I find it hard to believe she twisted your arm to list higher. Now, after 3 weeks she is telling you to “get real”- your home is not going to sell at that price. If you want to sell, you have to adjust the price to a point that you will get showings - its that simple. No open house, airplane flying overhead with a banner announcing your listing, or directional sign is going to sell your home. Price WILL !

Be glad you have a realtor who is being honest with you and praise her for her candid conversation.

6

In my current market, a showing per week would practically be a stampede.

The agents can’t bring you buyers when there are no buyers out there.

How much advertising is she doing for you?

I’ve actually bought a house from an open house, but it’s my understanding that open houses don’t normally sell that particular house. Agents do them for two reasons: to make the seller think they are working hard, and to make contact with potential buyers whom they can sell something, anything, to.

7

No one like to spending a money on such a person who is not helpful for him or her. Its not an obvious thing that if a person is very good for a particular person then he or she will be good or beneficial for all the other people too. So if you are not happy and satisfied with your current Realtor then you should change it sooner rather than later

best of luck :slight_smile:

8

3 WEEKS with just 3 SHOWINGS means…UGLY HOUSE or UGLY PRICE.

Some realtors think a HIGHER $$ price opinion = A SIGNED LISTING AGREEMENT. Ask yourself a simple question…WHY, with HISTORICALLY HIGH INVENTORY LEVELS, would your realtor want to be anywhere NEAR the high end of the comp spectrum??? Whether you like it or not…You ARE competing with FORECLOSURES…In this market ONE THING is selling houses…PRICE!!! You should be BUYING your properties at prices so low that you can make them look great AND price them LOWER than the competition…THAT SELLS PROPERTY…NOT REALTORS. Realtors SHOW property…Price SELLS it!!!

Ask yourself another question…Is there ANYTHING a REALTOR could say to you to get you to buy an OVER PRICED HOME??? There isn’t…So that leaves you with one choice…PRICE IT RIGHT!!

I ALWAYS write my listing agreements for 90 days…THAT’S IT…I tell the realtors…You have 90 days…Price it accordingly ( I KNOW what the number should be BEFORE it lists and NUMEROUS times have had the agent LOWER the price THEY came in with)…Some people might be scared of leaving money on the table doing this, but I’ve found just the opposite. This drives more traffic to the listing and you end up with mulitple offers. (always a good thing)

By doing it this way, if I’m not happy after that 90 day period, the realtor is either GONE… or… If I feel they’ve worked hard and we have offers coming in I give an extension.

BIG, BIG, Motivator for realtors…First, they know “I” know how the game is played…Second…If they don’t preform, they’re gone.

You’d be amazed at how much ATTENTION your property will get in that 90 day period from your NEWLY MOTIVATED REALTOR!!!

RAWBERTSUN’s wife sounds like a GREAT REALTOR…You will find that these folks are like HEN’S TEETH. Every single thing he mentioned is SPOT on…the only point I’d maybe disagree with is the listing price…I’ve seen this first hand and LEARNED to OVER RIDE the realtor…If YOU think it should be listed at a LOWER price intially, LIST IT at that price, regardless of the realtors opinion…We BUY and SELL property with OUR money…That is a HIGHLY MOTIVATING FACTOR…GO WITH YOUR GUT…If you price it too low, you’ll know it because you’ll have 5 offers on week one…Incidentally…This is EXACTLY what BANKS are now doing with FORECLOSURES…They LIST them at a RIDICULUS PRICE (half market value in some cases) and they end up with 15 offers ALL over asking and the property sells for very close to market value.

My comments are directed at the people out there CALLING themselves realtors…The REAL PRO’s are PRICELESS and can REALLY help you…It sounds to me like you need to keep looking…You’ll find a good one eventually, but it can be a long process…The 90 day rule will cut that timeline down for you.

9

I bet she’s not working properly or she doesn’t know what she’s doing. Either of this means off your agent from this. That’s right she’s no good for you. There are so many to work with precisely according to some guideline and deadline.