Do realtors make a difference??

Discussion in 'The Lounge' started by ParmaBass, Feb 12, 2008.

  1. ParmaBass

    ParmaBass Kiss The Converse

    After making the decision to go with a realtor rather than selling by owner a new question has come upon us...

    I know the market isn't the best right now, it's supposed to picking up a little though. Our house has been for sale for going on 6 months now. We signed a 6 month contract with one of the larger realty companys and it's coming to an end soon.

    Our current realtor is pretty young and relatively new to the business. She seems to be doing all the little things, but we have had no interest in our house. We started off at "market value" for our house and have lowered the price almost 5k since we initially put it up for sale in September. 3 open houses and zero people have walked through. Our house is far from a "dump", it's located on a street where every house looks about the same. We have all the high $$ updates (furnace, windows, newer carpet, water heater, washer/dryer included, etc.)

    So basically is what I'm getting at is, will a more "experienced" realtor be better for us or should we stick it out with the same realtor for another 6 months? This was our first house, so we've never been throught the selling process before.

    Thanks guys!!
     
  2. fishingguy

    fishingguy The Inferior Fisherman

    Right now, with the way things are, there are a lot more sellers than buyers. You want to sell quick, your going to have to lower price ALOT!! Not something you want to do. Housing appraisels are way down from just 5 or 6 years ago.
     

  3. ParmaBass

    ParmaBass Kiss The Converse

    So you're saying it's price more than the realtor? BTW the house I'm talking about is not a $200k house. We're close to what we bought it at price wise and that was 6 years ago.
     
  4. misfit

    misfit MOD SQUAD

    i think it's more that people are just not buying right now.naturally,when the market is this way,price becomes a factor,and there are two choices.sell low and take the hit(still may take awhile)or hold out till the market loosens(hopefully).if you can do that,it may be your best option for eventually getting your price.as for the realtor,if you're happy with what she's doing and you're getting the exposure(ML)i doubt changing will matter much.meaning it goes back to the market being slow,and another realtor probably won't matter much.being dead in the middle of winter has a bearing too.people will be looking more as the weather improves and with summe vacation for schools getting closer.lots of people(with kids) don't like moving during the school year if they don't have to.
     
  5. We sold our sunny parma bungalow last year in 60 days, we were blessed. One thing our realtor he had a realtors open house where he had 15 or 20 other realtors for a openhouse and lunch thing, that got the buzz going around. We followed all of his intruction on what to fix up and clear out even though we really did'nt like all of the ideas. One thing to listen for is feedback from people looking at your house and from open house, your realtor should be following up with these. And when you get a offer the realtor we had was priceless, even though they can't say it I think the realtors know between themselves what each party needs out of the deal. I had a hard time trusting him at first as that was our first home to, in the end he earned 100% of it. Oh yea we wound up with more than the asking price, Hang in there good luck, I'd be glad to drop you his name if your interested, at least you could interveiw him if you need to.
     
  6. Hang in there. It took us 3 realtors and well over a year and a half to sell ours. Are place was only 8 years old and after it was all said and done we cleared very little profit.

    Our last and final realtor was a very aggressive "rookie". As a matter of fact we were her first listing. The reason we chose her was just that, new and wanted to prove herself. She did just that. She sold our house for a 1% commission and advertised the heck out of it. Keep in mind that we were with her also for 6 months through the dead of Winter with very few showings. AND THEN, came the end of February, the showings began like you wouldn't believe........ We averaged a showing a day and when the big offer came we had 2 others following behind it. Your time is coming, tax returns, tax rebates and many people with cabin fever. Remember interest rates are dropping and all is looking good from home sales this year!

    Don't get discouraged, it is not your house it's the market.

    Good luck to you and your family!!
     
  7. The market is flooded with bank repos and foreclosures that banks are trying to sell for pennies on the dollar. This is a great time for people to get into a lot more house than they could a year or two ago.

    A buddy of mine has 180 bank repos listed with his company in the Akron area alone.

    It's hard to compete with that right now.

    I wouldn't judge any Realtors salesmanship at this point in time. It's a tough market for the sellers.
     
  8. ParmaBass

    ParmaBass Kiss The Converse

    Thanks guys you brought up alot of good points! I think we're going to ask her if she'll sign a 3 month contract extension and go from there. That's will take us into May, hopefully something happens by then. If not I'll be close to Lake Erie for the Fall bite for one more season!

    BTW....our contract is up on Thursday, just needed some quick opinions/options, and you guys came through again.
     
  9. I would agree with HetfieldInn. Don't judge your realtor at this point in time. But, look at it this way, you're selling your house at a bit of a loss, maybe, but as Hetfield said, you can buy alot more house for the money, so its all relative. Maybe you're selling your 130K house for 124k, but you can buy a 150K house for 125K. The net is you'll upgrade substantially for about the same net money. The catch is you'll have to have cash on hand to do the new mortgage.

    Good Luck
     
  10. The times are tough for sellers. The time of year is also tough. Everyone's christmas bills are due or just paid. The weather is crap. Give it awhile. We sold ours 2 years ago without a realtor. More money for you! Unless they are pulling a ton of people in, realtors are pretty expensive. Here they get 6% of your home price. They better be working their tail off for that kind of money! Realtors are not all the same. Big names or realtor's with hot hands are essential. I have talked to many regular Joe's that have a real estate license. For 6%, I want a SALESMAN. Houses are still selling, and yours can be one of them.

    My wife made me watch "curb appeal" show. I hate to admit it, but I learned somethings. There are some simple things you can do to make your house more appealing. Check it out.
     
  11. It may seem as though people are not buying houses but that is not the case. The market is over saturated with homes for sale. So much so that, in some areas, it would take a year for those homes to be absorbed into the market (assuming no other homes came on the market). Fact is, people are still buying. The difference is buyers have so much to choose from. If you want to sell your house I recommend pricing it where you know it will sell not at what you “think” it's worth. Lowest price in the neighborhood will do it. Keep in mind; this is the worst time to sell, so if you can, hold on to it for another few years. Even if you rent it out, it’ll pay off big in the long run. You may also want to consider offering a bonus to the buyer’s agent. Money motivates. GOOD LUCK!!!
     
  12. Take it off the market and relist in Mid-April. Even during the good times now is the worst time to list. Go for a 90 day contract from April-June.