# Wwyd?



## tnokie (Jan 30, 2007)

We made a mistake and signed a 6 month contract with a realtor. Now she has decided we are asking too much( we absoultely can't go any lower,have dropped the price three times in the first 120 days!) so she is doing nothing. Any suggestions.


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## quietintheland (Jan 10, 2013)

Has your agent backed up with documentation (such as a new competitive market analysis) as to why she believes your house is priced too high? Market conditions change all the time, it may very well be that your house really is priced too high, especially since it is the middle of winter, and housing prices are typically lowest during the winter. Did you go with said agent's recommendation for pricing your house initially, or did you try pricing it higher? When you say your realtor is doing "nothing", what exactly do you mean? Is she not bringing prospective buyers? Not keeping in touch about market trends?

In any case, it sounds like you only have 2 months left on her contract. I'm not sure how you would get out of a real estate contract - hopefully one of the real estate agents here who is versed in real estate contractual law could tell you. I would assume there is a grievance process that could take place through the local real estate board or state realty commission. But if it were me, I'd just grin and bear it for the remaining 60 days and hope for the best. In the meantime, I would be doing my own searching for comparative real estate listings to see not only if the prices are comparable for square footage, bedrooms/baths, & lot size to yours, but if the condition of the property is similar. Little details can make a big difference in price.

And remember, there are still a lot of foreclosures on the market which continue to hold prices down. It is still very much a buyers market in a lot of areas of the US. With the recent federal tightening of lending regulations, high unemployment/underemployment, and a general uncertainty about the economy and direction of the country this might not such be such a great time to sell your house if you don't absolutely have to.

Best wishes, 

QuietInTheLand


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## Gianni (Dec 9, 2009)

It soulnds like you got the wrong realtor. 6 Months is a standard contract and for the cost of their advertising it makes sense. Since the 6% commonly charged is split some make their money selling homes they listed and others showing homes others list. Make sure that the next one shows a lot of homes and is effective at advertising them. Make double sure that they will be committed to advertising yours @ a price you both agree on. IMO, there are some real good RE agents and some lazy no good bums that are making about the same money in that trade. DO NOTuse someone because you go to church with them, they are related or someone you know bought a home they showed. Do your homework and find someone who will list and show your home to sell. Expect to do what they say you have to do to get a good price including cleaning. painting, getting your valuable stuff out of sight in a rental shed etc.


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## tnokie (Jan 30, 2007)

Yes we talked it over with her in the beginning and agreed on a price she thought was right. She kept comming back saying we needed to lower so we did. But she has only shown it a couple of times,we know of other agents from another company that have shown it several, has done no open house,won't advertize it in the local papers because she has personal differences with the people who run it! Basicaly she is just sitting on it and not actively doing anything.We have since learned that her husband is building new homes and she is always showing them!WE have cut down so far now there will be very little room to do any repairs,changes etc that a buyer might want done. I guess we have got in the tail of the trend that was happening where we owe more than the house will sell for. Although we really didn't feel like we were at the point when we put it up for sale. They keep saying the market is going up but its not in our area.


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## ozarkchaz (Feb 4, 2005)

tnokie,

By concensus, the real estate market bottomed in the spring of 2012. Home prices are rising just about everywhere now, and the market is in full recovery. If you can hang in there for another year, things will be much better.

I dont know about real estate law in Tn. but where i am (California) a seller can cancel a listing agreement at any time, for any reason, with proper written notice.

Hope this helps....Good luck.


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## Mattemma (Jan 1, 2013)

I hope you can cancel the contract. If you lowered already she should respect your decision to not lower any more,and she should still make an effort to show/advertise your home.It does not take much to get your house out there.New ad,new pics....something done every few weeks.

Pass on low ball offers,and in 2 months you can move on.Sounds like she is more interested in selling her husbands places.

I thought 3 months was the standard contract. I don't want to be stuck with someone for 6 months if they are no good.It is so hard to pick people as they often put on a good show/face.

One thing I try to find out is the list price and actual sale price. I see a lot of realtors selling houses fast,but they might be selling them at very low prices.People often give up on their asking price and just take whatever.

Be patient.There will be a buyer for your home. I never thought we would be able to sell our condo,but after 4 months of showing a single dad needed a place, and we were able to sell at our list price.


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## Lisa in WA (Oct 11, 2004)

you could send her a certified letter reminding her of her common law duty to be working actively to sell your property and threaten her with breach of contract?


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## MikeC (Mar 29, 2012)

Why not contact the realtor's office and speak to her boss? Just explain you're not happy with your current realtor. They will either assign a new one or let you terminate the contract.


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## Lisa in WA (Oct 11, 2004)

MikeC said:


> Why not contact the realtor's office and speak to her boss? Just explain you're not happy with your current realtor. They will either assign a new one or let you terminate the contract.


We did this many years ago with a Remax agency in Indianapolis. Our realtor was incredibly difficult to deal with and after we complained, they gave us a new one from the same office.


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## ChristieAcres (Apr 11, 2009)

tnokie said:


> We made a mistake and signed a 6 month contract with a realtor. Now she has decided we are asking too much( we absoultely can't go any lower,have dropped the price three times in the first 120 days!) so she is doing nothing. Any suggestions.


If you are unhappy, you aren't stuck. I second calling and asking for a different Realtor. Comps will support if you are asking the right price. How are sales in your market?

When you stated, "...so she is doing nothing," please clarify. I do regular Open Houses, serve coffee/homemade cookies, but rarely are homes sold due to Open Houses (they do happen on occasion). Each new Listing is toured by the Realtors in our office. There is an opportunity to also include that on the Broker's Open Tour. Is there print advertising done by the Real Estate Office? How about website coverage? Fliers available at the Office? Is there a Company Website? Does your Listing Agent have a website?

*It is far more effective to price a home correctly and insure the Listing is done well (well written, good photography, and accurate information). *When a home is listed on the MLS, it is available to be seen by any one doing a real estate search.

Now, that said, not all sites are "real time," but it doesn't take long for them to update with today's technology. Over 90% of buyers find their Homes online, hence the critical need for presentation and pricing correctly.


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## mnn2501 (Apr 2, 2008)

May I also suggest that with your house on the market it should look like a house on the market and not a house that is being actively 'lived in'. Make it look as much like a home in the magazines as you can. No collections displayed, get rid of personal pictures, de-clutter it. Rent a storage locker and put all your 'stuff' (all the things that make the house yours) in it until it sells, repaint (in neutral colors) if the paint is old, tear down the old wall paper and paint. Clear off the counters, clean, clean, clean.

Call the other Real Estate agents that have shown it and ask them for suggestions as to how you could present the home better, ask them to be brutally honest.


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## Gianni (Dec 9, 2009)

In some areas an Open House is a license to steal or come back to if it is empty. I have heard horror stories of jewelry, knick-knacks and anything that will fit in a pocket missing after them.


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## ChristieAcres (Apr 11, 2009)

Gianni said:


> In some areas an Open House is a license to steal or come back to if it is empty. I have heard horror stories of jewelry, knick-knacks and anything that will fit in a pocket missing after them.


This is why I tell all my Owner Occupied Listing Clients to remove all valuables, in addition to all their medicines, and put away all collectibles. An Owner Occupied Home should look much like a Hotel Suite in every way. All personal items put away, no knick knacks, minimally furnished, nothing on the table but a vase in the center, etc... I often see kitchens with the counters full of appliances---put all of them away! You want a Buyer to envision their furniture and belongings in the home, not get distracted by the Seller's stuff... During my last Open House, a potential Buyer expressed interest in buying an antique chair... This Client has no where to store her furniture, but does a great job cleaning and de-cluttering before Open House events.

In addition, I bring my DH to my Open Houses. There has never been anything stolen in all my years of conducting them! Of course, during them, in owner occupied listings, I engage the visitors, and watch them... I think having my DH there helps... I also do NOT put a Keybox on an Owner Occupied Home. On a Rental, I will only install a Keybox, but require Showing notice of at least 24 hours. They can also be limited to one day a week with the Keybox scheduled to open only during that time span.


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