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Old 07-21-2013, 07:49 PM   #1
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What should I expect from my realtor?

Dh was transferred 2 years ago and we moved across the country. Our old house has been on the market for 2 years. We had the first realtor for 1.5 years (she was kind of a friend, so we hung on too long). We have had the second realtor for 6 months. I'm trying to decide whether we should change to another realtor now that the 6 months is up, or just stick with her a little longer.
Our house situation: We have dropped the price $40,000 over the 2 years. I asked the realtor to send me current and recently sold comparables, and our price/sq ft was almost the lowest in both categories. It is newly completely remodeled, in the most desirable elementary school in the city, one of the most desirable neighborhoods in the city, etc.
We've had 1 offer, back in May, but that did not work out.

My biggest question - what should we expect from our realtor? When I recently asked our current realtor how we could get more people into the house, she said, "Lower the price and maybe that would get more people interested." I was looking for more than that. Am I being unrealistic?

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Old 07-21-2013, 07:56 PM   #2
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What has she done to market your house? Have you had open houses? How many showing have you had? Has the house been on the market for the entire 2 years o has it been taken off at all?

If your house has been on the market the entire 2 years it is considered a dead listing and you should pull it off for a couple of months. If it has been on for 2 years (or even 6 months depending on the market) people are going to presume there is something wrong with it.
How fast are houses selling there?
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Old 07-21-2013, 08:12 PM   #3
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Originally Posted by CarrieMF
What has she done to market your house? Have you had open houses? How many showing have you had? Has the house been on the market for the entire 2 years o has it been taken off at all?

If your house has been on the market the entire 2 years it is considered a dead listing and you should pull it off for a couple of months. If it has been on for 2 years (or even 6 months depending on the market) people are going to presume there is something wrong with it.
How fast are houses selling there?
Exactly, when we were looking anything that was on for more than a few months we crossed off our lists. I assumed there were serious undisclosed issues or they were foreclosures.
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Old 07-21-2013, 08:19 PM   #4
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Re: What should I expect from my realtor?

Has the listing been on the market for 2 years or 6 months? Either would start to look stale. I would pull the listing and re list it. If a house has been on the market too long people think something is wrong with it and won't go see it. A Realtor should have done the recent sold comparisons from the get go not months later when you asked. That alone would make me cautious.

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Old 07-21-2013, 08:48 PM   #5
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Re: What should I expect from my realtor?

It has been on the market 2 years, without any breaks other than changing realtors. The listing currently shows listed for sale Feb 1, 2013. I'll ask our current realtor about the time on the market- our first realtor always assured us that most of the homes were on the market a long time, so time on the market would not make a difference for us. But, that is one of the things I was considering with changing realtors - it would be a fresh start again, right?
Showings have picked up a lot in May- June. We've been getting a couple showings a week, I think? I'll ask for another showings report.
No open houses other than 1 to the other agents in her company when it was first listed. The feedback from that was negligible (1 comment, most agents said nothing). I was disappointed by the lack of feedback.
I have gotten comparables many times - she did give them to me when we listed with her, and several times since. I am was just comparing prices with the most recent comparables we got.
Another thing - my husband built a website www.house#streetname.com. The first agent linked to it through a virtual tour link, I think. The second agent showed no interest whatsoever and I don't think she even looked at it, much less used it in her marketing at all. What do you think? Would the website be helpful?
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Old 07-21-2013, 08:50 PM   #6
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Re: What should I expect from my realtor?

What is the feedback from people who have seen your house? That will give you the best idea of how your house is doing. It really hurts a listing when it hast been on the market so long. People will assume something is really wrong with it. As for open houses, I don't really think they help to be honest. We met with our realtor this week to discuss listing our house. We've worked with her twice before. She says that people do their house hunting online these days. And so she focuses on really good photos of the house and the online listing.
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Old 07-21-2013, 09:08 PM   #7
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Re: What should I expect from my realtor?

Feedback - when she gets it (most realtors don't respond ) is "Layout is not what they are looking for" or "It's next to the ditch." The city is riddled with ditches. Many, many houses are next to ditches. It's totally not a big deal. And, the backyard is totally fenced, so it's not accessible to kids, either.
We have also heard from more people lately that they are considering the house, which is encouraging, but so far no offers other than that one that did not work out.
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Old 07-21-2013, 09:16 PM   #8
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Re: What should I expect from my realtor?

Quote:
As for open houses, I don't really think they help to be honest. We met with our realtor this week to discuss listing our house. We've worked with her twice before. She says that people do their house hunting online these days. And so she focuses on really good photos of the house and the online listing.
I agree with this. Most people do search online now. Our realtor said that open houses rarely sell houses. Most people going to open house are looking to buy in several months or they are neighbors. If someone likes your house they will make an appointment to see it.
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Old 07-21-2013, 09:20 PM   #9
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Re: What should I expect from my realtor?

It sounds like you may just have a slow market. What was selling price of the houses that are comparable that did sell? Did any comparable sell recently? How long are most listings on the market. Is it a buyers or a sellers market where you live?
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Old 07-22-2013, 03:29 PM   #10
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Re: What should I expect from my realtor?

Talked to realtor today: Average time on market is 135 days. 8.5 month backlog of houses. There are other houses that have been on the market this long.
Showings: 2 in May, 5 in June, 3 in July so far
Yes, some comparables have sold recently. We are priced lower per sq ft than 80% of the sold homes and 95% of the homes currently on the market.
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