How do I fire my Realtor? Desperate for help/suggestions (sry long)

[Am_I_There_Yet]

Also, most realtors will give free price quotes. Maybe you should do that or have your realtor ask around at his office to make sure the price is right. In our area, buyers do not usually make low offers. They want the house to be priced right before they make an offer. I really don't understand why.

I do what's called "Broker Tours". I'm not sure if it's common in the area of the OP, but it sure wouldn't hurt to have one.

To the OP: This is a great suggestion for getting valuable feedback from those that know the market. See if your friend/realtor can hold the house open on a weekday and invite area agents to view it. I hold mine open on a Tuesday and cater food, or give away a cash drawing for those who register.

I market the tour via email and flyers delivered to the agent's offices, to make sure I get the best turn-out possible. Not only will you get feedback, but it opens up your possibilities because other agents can keep it mind for potential buyers that they're working with.

 

[C.Ann]

I do what's called "Broker Tours". I'm not sure if it's common in the area of the OP, but it sure wouldn't hurt to have one.

To the OP: This is a great suggestion for getting valuable feedback from those that know the market. See if your friend/realtor can hold the house open on a weekday and invite area agents to view it. I hold mine open on a Tuesday and cater food, or give away a cash drawing for those who register.

I market the tour via email and flyers delivered to the agent's offices, to make sure I get the best turn-out possible. Not only will you get feedback, but it opens up your possibilities because other agents can keep it mind for potential buyers that they're working with.

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Mine does the "Broker Tours" too, but it's called something else here - can't recall off the top of my head what the term is.. He also doesn't do the typical one or two open houses when the house first goes on the market and then just sit back and wait.. He'll be holding more open houses once New Year's is behind us..

There is only so much an agent can do - unless he's flat out doing nothing: no showings; not responding to inquiries; no longer aggressively advertising; not holding tours or open houses; etc..

I can't imagine being in your shoes (and I'm sincere about that) - having already moved into a new home and having a bridge loan hanging over your head.. Hopefully once the holidays have passed you'll see some activity again.. However, if it truly is the location that is causing the lack of offers you may have to take the financial hit just to keep from going further under..

 

[Disney Doll]

I have to disagree with most of the posters. There are good real estate agents and bad real estate agents. If it doesnt really matter and its all just location and price , then why do they get 7%? for a long time now realtors have been getting easy paychecks on a very fast market. now they need to earn their money. Find one that will. Go interview them and find a go-getter who will put energy and enthusiasm into your needs and desires. And if you truly believe it is just a matter of price and location.....lower the price by a factor of the agents commission and market it on buyowner.com or FISBO . You may have a better idea of the positive aspects of yournieghborhood than any realtor would. Good Luck and stay positive.

I have been married to a realtor and your post has so much erroneous information in it that I don't even know where to begin.

First of all, everywhere in the country does not have an "easy market with fast paychecks". That ahs been the case lately, but the real estate market ebbs and flows. so it is not always the case.

They get 7% because you are hiring them to perform a service. The OP may or may not like what I am about to post, but her realtor, based on the info she provided, has done his job. Her house is, based on the description of location and potential road work, a "Hoover"... it sucks. There are few people who are interested in buying a home on a busy street which has the potential to be widened and therefore become even busier and possibly more "commercial". The funeral home doesn't add to the appeal of the house because, while it wouldn't bother me a bit (but then again, I have a cemetery across the street...talk about quiet neighbors!!! ), there are people who freak out about death, dying, and anything having to do with either of the above. Living near a funeral home would be totally unacceptable to them, even if they got the house for free. So what does that mean? It means that basically everyone with kids won't consider the house (busy street) and everyone with the death fetish won't consider the house. That greatly narrows the field of people who wouldconsider the house.

Lowering the price will work eventually, but most people have a "drop dead" number that they are willing to sell their house for, and the best realtor in the world isn't going to change their mind. And, quite frankly, we always think our hosue is worht more than what the market says it's worth because it is our house...we have lived and loved there, raised a family there, made memories there. What we fail to remember is that to everyone else, the hosue is a commodity, and they look at it as such.

As far as feedback, how many times do you need to hear "the house is nice, the location stinks". One person out of many had slightly different feedback about the floor plan...chalk that up to that person's personal preference...but the consistent feedback seems to be "nice house, lousy location".

As far as anything having to do with cutting commission...a good realtor won't do it. Would you take a salary cut one week because the boss thought you didn't work as hard as you should have? Or because it was a short workweek due to a holiday? Then why would expect a realtor to do so? My husband has declined to list houses for people who have tried to convince him to lower his commission. That type of seller is nothing but trouble and will nickel and dime you to death, and quite frankly, isn't worth the aggravation.

Most realtors have a very good idea of the positive and negative aspects of the neighborhoods in the communities where they work. The problem is, most sellers don't like to hear the negatives, or consider them as reasons why thier house isn't selling. It's easier to blame the "lousy realtor" who's making easy money and not working too hard.

The OP's biggest problem is location and potential future road widening issues. Any good realtor has to disclose that to a potential buyer. If you have House A on Main Road and House B on Nice Little Side Street and they are comparably priced within $10-$15K of each other, and they compare favorably to each other in terms of size, condition, & meeting the buyer's needs, which one do you think a buyer is going to pick?????? Certainly not the one on Main Road which will be widened right into the front lawn and has a funeral parlor across the street.

About the only thing we do agree on is that there are good and bad realtors, but that is true of any profession. It doesn't sound like she has a bad realtor. It sounds like she has a tough house to sell.

OP-if you'll feel better, when your contract expires, list it yourself for a while. There may be people who, like the poster I quoted, have some negative pre-conceived notions about realtors and might be more inclined to look at a FSBO because there's not a realtor involved. But be aware that realtors don't tend to show FSBOs, FSBOs aren't on the MLS, you'll be doing all the marketing, advertising, showing, open houses, preparing, and legwork yourself. Also, make sure you have a good real estate attorney to guide you through the process so you don't get screwed. Also, do some research on the real estate regulations in your state, as they do vary from state to state. There are some "basics" that all states follow, but then there are "quirks" that may be particular to certain areas. The advice I just gave, BTW, is why realtors make a 7% commission...they do all that stuff so you don't have to!!!!!

Best of luck with your endeavor!!!!

 

[C.Ann]

I have been married to a realtor and your post has so much erroneous information in it that I don't even know where to begin.

First of all, everywhere in the country does not have an "easy market with fast paychecks". That ahs been the case lately, but the real estate market ebbs and flows. so it is not always the case.

They get 7% because you are hiring them to perform a service. The OP may or may not like what I am about to post, but her realtor, based on the info she provided, has done his job.

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I guess I'm in better shape than I thought - LOL.. My realtor only charges 6% - and what many people don't realize is that according to "how" the house is sold and numerous other factors (the major chain he works out of, etc.) he does NOT get the entire 6% - only a fraction of it.. The only way he would get the entire commission were if he was running his own independent business.. I've watched how hard he has worked over the years for his clients (nights, weekends, holidays, late into the night to iron out issues, etc.) and have often wondered why he does it for the small percentage he gets in return.. He has recently retired from a very good paying high position with the State of New York, but I think the reason that he has done it for all these years and continues to do it now is simply because he is a "people" person.. He loves people - loves meeting new people - and loves helping people make their dreams come true.. Being a realtor isn't the "easy money" game that many people think it is..

 

[SillyMe]

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I guess I'm in better shape than I thought - LOL.. My realtor only charges 6% - and what many people don't realize is that according to "how" the house is sold and numerous other factors (the major chain he works out of, etc.) he does NOT get the entire 6% - only a fraction of it.. The only way he would get the entire commission were if he was running his own independent business.. I've watched how hard he has worked over the years for his clients (nights, weekends, holidays, late into the night to iron out issues, etc.) and have often wondered why he does it for the small percentage he gets in return.. He has recently retired from a very good paying high position with the State of New York, but I think the reason that he has done it for all these years and continues to do it now is simply because he is a "people" person.. He loves people - loves meeting new people - and loves helping people make their dreams come true.. Being a realtor isn't the "easy money" game that many people think it is..

That's the truth. So many people can't seem to understand why realtors are "overpaid". That 6% commission gets split between the listing agent and selling agent (if it's a co-broke), then the broker gets his share, if it's a franchise, they get their share, advertising fees, insurance, MLS fees etc.

 

[canwegosoon]

Is your property zoned commercial or mixed use? You really want to hire a Full time professional agent (look for the top preformers in your area). I would also consider contacting business in your area if your home can be used commercially...there might be a better value for that. A doctor's office/dentist office are examples of mixed use. An experienced agent(big volume) will help you with the right marketing. I would look for someone who has experience in Commercial RE for opinion-or at least an office that handles both Residential and Commercial.

 

[disneylizzy]

Say, Panthra, I really like your Avatar!!

 

[headoflife]

As an agent in Illinois, I simply want to second a lot of what others have said. I know it is frustrating to have your have your home sit on the market. Now is a terrible time to try to sell, and it is difficult to tell if this is just the normal seaonal fluctuation in the market, in which case it should improve dramatically in a month or so, or if it is a softening in the market changing things from a seller's market to a buyer's market. Whie I agree there are some variation in what agents will do to maket your home, it sounds like your current agent is doing most of those (advertising, holding open houses, etc.). If he hasn't had a broker's open recently, with a drawing or food, that may be an option. Unfortunately it may be that the location, and the changes that are coming to the area, and the things that are keeping the property from selling, and no agent can change those. As a very experienced agent once told me, anything will sell if it is priced right, but what is "right" may be less than you hoped for. If you want to look at other agents, it sounds like you have no contractual obligation to your current agent, but make sure that you really will get more than you are getting from you friend before switching. I can tell you that I do my best work when working with friends. I have a personal investment in their having a happy and successful outcome, and I can only imagine your friend is trying his best! Good luck, and if I can be of any further assistance, feel free to PM me!


As for commission, the agent gets only a small percentage of the commision, as it is split between the buyers broker (who splits it with the buyers agent) and the sellers broker (who the splits that with the sellers agent).

 

[lindalinda]

wow...I just made some very basic comments...I certainly did not ask the realtor to lower their commission or to take a pay cut...I merely stated(since the contract has expired) and obviously a change is desired, to try someone new or try to list it yourself. Commissions are often negotiable and you should interview your realtor to see what their philosophy and style is. I am perfectly aware that commissions are split and fees are assessed...I didnt address any of those issues that you claim I was "so horribly misinformed about". I am not an expert...but i do have the ability to find one when I need one. Good Luck to the OP , I know its stressful

 

[Cindy's Mom]

OP, have you moved out yet? If the house is vacant, I think you should consider going in there and painting all the walls neutral colors and posting those pictures on the MLS. I took a look at your listing and there is much too much clutter. Some people (myself included) can't get past certain things, I need to see a clean slate before I can imagine myself and my family living there. I know of what I speak - when DH and I were selling our "single life" condo, we had it all "funked" out - black wall here, red wall here, mirrors (this was 15 years ago) we thought is was the sharpest condo in town and we couldn't understand why it was taking over 2 months to sell. FINALLY our realtor told us to paint the walls white and the baby sold 3 days later, to someone who had looked at it before (and we never lowered the price). Best of luck - I know its a stressful time.

 

[Chicago526]

OP, have you moved out yet? If the house is vacant, I think you should consider going in there and painting all the walls neutral colors and posting those pictures on the MLS. I took a look at your listing and there is much too much clutter. Some people (myself included) can't get past certain things, I need to see a clean slate before I can imagine myself and my family living there. I know of what I speak - when DH and I were selling our "single life" condo, we had it all "funked" out - black wall here, red wall here, mirrors (this was 15 years ago) we thought is was the sharpest condo in town and we couldn't understand why it was taking over 2 months to sell. FINALLY our realtor told us to paint the walls white and the baby sold 3 days later, to someone who had looked at it before (and we never lowered the price). Best of luck - I know its a stressful time.

I did the same thing with my condo. Even though it was already neutral, I did give it a fresh coat of paint and replaced the carpeting (which was shot). Sold in 1 day to the first person that saw it.

But...when we went house hunting for our new home, we looked past all the dated wallpaper and funky colors to see the potential and got a good deal (although it will take a LONG time to get the house up to date). But not everyone is willing to look past the decor and see the good "bones" of the house. Take another look at it and see if you can't do some cheap improvements. Also, it could be dusty and dirty from being empty so long, hire a cleaning service and spruce the place up a bit. It's amazing how dirty a house can get, even empty!

 

[Am_I_There_Yet]

I have been married to a realtor and your post has so much erroneous information in it that I don't even know where to begin.

If you'll notice, I have a deleted post in this thread. It was in response to the OP as well.

One thing that I would like to add about our (easy) paychecks, is that 3%, regardless of what the listing agent is charging in commission, goes to the buyer's agent.

I would love for those who think that this is such an easy job, with such a huge financial windfall, to realize that we only get paid when we sell a house. We spend the same amount of our own money, regardless if it sells or not. Then, we at times go MONTHS with no (easy) paycheck at all!

Walk a mile in my (our) shoes, then come back and tell me how easy my (easy) paychecks are to come by. I can guarantee you you'll have a different view of real estate agents and the sales profession as a whole.

 

[The Mystery Machine]

Your pictures on Realtor are not flattering for your house. I would find different pictures and definetly give the kitchen a neutral color since your kitchen is very outdated. You need to do something in there to draw attention to the charm not how it is outdated.
Watch "Design To Sell", lots of good tips!
That garage picture needs to go pronto! Very weird to put such a messy picture on your site to sell your home.

 

[DVC-Don]

Took a look. My first impression was gee, I'd have to replace the kitchen cabinets and counters. That and it's a half bath short for a 4 bedroom house. Best of luck.

 

[minniecarousel]

Yeah - let's be brutally honest: at least have some new pictures taken. Your kitchen cabinets are not attractive & yeah - what's with the clutter?! Your realtor chose some really lousy shots. Our realtor was a friend too, and she levelled with us: get rid of the clutter! No stuff attached to the refrigerator. So if the house is empty - have new pictures taken. Why even take a picture of the basement or garage? Maybe it IS time for a new realtor.

(Oh my! I am never this negative! I apologize - but maybe it'll help to have some honest reactions from people who don't have a stake in any of this. I truly hope that you can make some changes and sell this home. Good luck and hang in there.)

 

[m&m's mom]

You have a lovely home. I think maybe the garage picture is not the greatest but certainly would not think it was a deal breaker.
Good Luck!

 

[jenks0718]

If your house is listed in MLS, which I'm sure it is, there probably isn't much more you can do or your realtor can do. Other realtors out there know about the house. If it is being shown, but no offers are coming in, it isn't necessarily your realtor's fault. It could be the price. It could be the location. It could just be that the right person hasn't come along yet. This time of the year is slow. It will pick up when people start receiving their income tax refunds.

I agree with this.

I am a realtor and sometimes it is so easy for the seller to blame us when the house doesnt sell quickly. If the house is in the MLS then it is out there to be seen. He also did open houses and paid for advertising as well. You can call to get feedback on a showing all day long, if they dont want to buy it they dont want to buy it. Unfortunately to me it seems like your location is a big issue here. I say hang in there until mid to late January and you are sure to get more showings. I know your friend doesnt want to take listings just to have them. And to have real estate as a "hobbie" seems strange to me as it can be VERY expensive to be in the industry. The advertising costs alone are alot. IMO

 

[jenks0718]

btw I think your home is lovely. The appliances are a major plus since stainless steel is so hot right now. Get rid of the garage pic. Everything else looks good

 

[The Mystery Machine]

I just don't understand the "crooked" & "aerial" pics (esp. the front and the family room)? That does not show your house well. It makes it seem like you have something to hide.

I am not saying her house is terrible, I am saying that the pic's are not the best ones to choose to sell. Makes a difference. We sold our house due to our pic's on the internet. They were FAB...I had no clutter whatsoever. The only thing I would do next time is to take up bathroom rugs for the pic's. They just don't look good on film.

I looked up your area, there is not much to choose from right now. When Feb rolls around a ton of them will be on the market. You need some "pow" on your listing site.

 

[Panthra529]

Say, Panthra, I really like your Avatar!!

I thought the exact same thing about yours....sigh.....this was the most romantic scene of all time!