Should I Fire My Realtor?

Question

Greetings! I have a house that's been on the market for five months. I'm not sure if I am being impatient, but I've only received two offers - and both were WELL below what I'm asking for. That said, I've reduced the price three times in the span of those five months. So, am I in the wrong here? Should I seek a new realtor? I ask, because I sense the current realtor does not have the same sense of urgency I do. Additionally, there is little communication from the realtor to me in regards to how to be better market the house, and any other things I can do.

Thank you in advance for your input.

Deanna McCormick · Answer

First off the front of house looks clean,, but a couple of flower pots on each side of door way would make a nice image..

2nd photo back of house.. is the roof or flashing raise on area between the 2 levels.. should be fixed.

3rd the kitchen photo with the range hood looks terrible.. it's worn out..

4th I'd buy some white appliances and install them at least then you can say New Appliances in ad. and get a new range hood..

5th Bedroom with a ON the floor box spring.. NOPE look trailer trash,, re take with the mattress gone..

6th  bedroom with cable cord hanging off wall.. get rid of the cable or reshoot room from another angel.

7 th  what's the main living room like.. can't tell..

8th.. you could do a sketch floor plan of entire house and take a photo of it and include the layout with set of photos..

8th .. Stage it.. find out cost for staging 1 bedroom, and livingroom,, with minimal stuff.. for photos' only.. some places can photo shop furniture in your photos.. also..

I'd call my agent everyday and get this figured out,, not sure what lenght contract you signed with him but I wouldn't resign.

House looks decent.. It's vacant but ad should say MOVE IN READY<<< not vacant.

Matt Leonard · Answer

@Gary Cooper

Assuming it is listed on the MLS, and therefore getting pushed out to Zillow, Redfin, Trulia.  2 offers in 5 months would tell me that the price is too high and/or the house isn't desirable compared to other properties.  Sorry, I know no one wants to hear that.  If it is in fact a great house at a great price, there key be something else wrong.

Did you hire a professional photographer to take the listing pictures?

Are there 30 bright and awesome pictures on the listing or 10 dingy ones?

Is the house staged (assuming you're not currently living in it)?

Did you rely on the realtor for the description in the listing or did you write it yourself, pointing out all the awesome features that the new buyers will love?

DId you review the listing to make sure that there is no incorrect info like room sizes, tax amount, lot size, etc,

How many open houses has the realtor held?

Have you tried calling on the realtor from different line to see if he picks up and is helpful to assist a showing?

Hope that helps!

Christopher Phillips · Answer

@Gary Cooper

No. Your question (why isn't my house selling) is a very common one on the boards. Only way to answer it is to let everyone see your listing so we can discuss.

Matt K. · Answer

Where the two offers you got close to each other in price? If so, that might be a better indicator of what the actual value of your home is vs whatever you came up with.

Joanne Szewc · Answer

I am assuming this is an investment property and not your personal residence.  Not sure what experience you realtor has in investment properties. I would definitely look into getting the comps and such.  Maybe even speak to a wholesaler.

Matt K. · Answer

A lot of the non investor types going to look at zillow, see you got it for 30k. Then they going to see you wanted a 100k for it... which is crazy and probably turned a lot of people away. Then the next round of people see the price drops... or shall we say lack there of and probably went and got a nicer (to them) home for comparable price. Now you have a home that's been on the market 4 months... and is just starting to reach a price point it should of been listed at. The low offers probably seem worse because you value your home closer to 100k then you do 50k... when it's likely the market sees it as the opposite.

Christopher Phillips · Answer

@Gary Cooper

I think @Deanna McCormick laid it all out very well.

At the end of the day, it's a small 2 bedroom 1 bath. Doesn't have a tub, just a shower, which is a detractor for families with young children. Needs a new kitchen and a new bathroom.

County appraisals are usually not accurate. Too long between updates. Other homes in the area are completely updated and have more bedrooms. Homes in the 2 bedroom to 3 bedroom size in similar condition are sitting on the market for $74K-$79K.

Three main things that sell houses. Price is the first thing. Open houses don't sell homes - only about 1% of homes are bought at open houses (national statistic). At the end of the day, the house is in need of major updating. Only certain buyers are going to be looking for a home in that condition - mostly investors or first timers on limited funds... Yes, you could try and stage the house, add some potted plants to the front, but it's hard to get around the fact that other homes in the area are updated and larger.

Joanne Szewc · Answer

@Gary Cooper

Going on the little info provided, since you stated that you have dropped the price a few times, is concerning.  A wholesaler usually has client lists of investors and the wholesaler can work at a faster rate to get you the cash.

Gary Cooper · Answer

Forgive my ignorance here, folks. First time caller, long time listener. Here she is:

https://www.trulia.com/property/3089100250-155-Har...

No professional photos, no open houses (that I know of), no feedback for when it's shown, no mention of when it is shown, no email blasts (that I know of), nothing of that sort. Hence why I am thinking about parting ways. At first, I went with a price that was below the county appraised value, then I dropped it, dropped it again, and dropped the price some more. The second offer (which arrived today) is 10k below what is listed.

Should I Fire My Realtor?

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