Your home isn't selling and yet the current market for houses is really buoyant. "Why?" you naturally ask yourself.
Sadly it's a fact of real estate life that not all realtors are making an equal effort on behalf of their trusting clients. Here are 8 sure signs that it's time for you to face the music and hire someone else:
Sheer neglect - If your realtor hasn't set aside some time to very regularly update you on the status of your home sale, no wonder you're feeling lonely and somewhat lost in the process. The most likely scenario here is that nothing is being done to actively promote your home, so there's literally nothing to report. You deserve better than this, so it's time to move on.
Part time agents - Unfortunately, not everyone working in real estate treats it as a full time occupation. The key issue here is that, like any professional activity, a "24/7" attitude to the business is essential if the right results are to be achieved for clients. If you suspect that you have a part time agent because, as a typical example, your calls and emails are ignored or not answered in a timely fashion, don't be shy and ask a direct and to the point question about daily activity levels. It's your house sale that's on the line after all!
No marketing plan - When you hired the realtor, did he/she give you a full explanation of a structured, multi-faceted marketing plan to sell your home? If not then chances are that your home is not gaining the right levels of visibility to attract interest.
The wrong "buyers" - It's great that your realtor has shown the home to a number of potential buyers, but what is the measure of these people? Viewers should at least be pre-qualified to prove that they actually have the means to buy your home. If not, then there's a possibility your realtor is showing your home to anyone who fancies an afternoon out to look at the homes of their dreams to create the impression of activity. Ask your realtor about his/her buyer vetting process and draw your own conclusions as a direct result.
Discount sellers - The lure of an ultra-low percentage commission may initially seem attractive, but as always in life you get what you pay for. Houses listed with discount brokers are historically more likely to expire, end up unsold and with a very unhappy seller. Just about anyone can put a house on a multiple listing service and stick a sign in the yard. Sadly that's all the service they may provide to you. Agent commissions should be a fair reflection of the effort taken to sell the home. If you have agreed to pay peanuts and your home resolutely remains unsold, the alarm bells should already be ringing. What initially seems like a saving can actually cost you a fortune...
Broken promises - Of course, it would be nice if one always got a straight answer to a straight question. Sadly it sometimes transpires that the realtor who promised you endless marketing and communication simply hasn't kept his/her side of the bargain. Bottom line: time to look for someone else!
Unrealistic pricing - You're noticing "Sold" signs for similar homes all over your sub division. Yet your home was listed first and is more than competitive in terms of condition and features. Here's where a little investigation of your own can pay dividends. Try to establish what these homes sold for - your realtor should have access to this information. If your asking price is significantly higher then you may of course be acting as a measure of value for buyers of homes accurately priced to match what the market will currently accept. It may even be that you tried to get the realtor to price high, but as your professional real estate consultant, it's his/her duty to guide you as to what constitutes a sensible price, based on experience and local knowledge. If there hasn't been a pro-active conversation with your realtor about the price of your long term unsold home, we again suggest that you draw your own conclusions.
Keep yourself updated - If your home sale has been in stasis for literally months, ask your realtor to see proof of how many homes he/she has sold in the past 90 days or so. If a strong track record can be properly demonstrated, it may be that you and your realtor will do better after a frank conversation to review why your home is unsold. If there has been little or no sales activity, then the likelihood is that, for whatever reason, not enough effort is being put in. Again, time to walk.
At Everest Peak Realty, we are fully dedicated to representing our clients using best practice methods 24 hours a day/7 days a week. In fact, some time ago we wrote a blog that suggested a number of questions for you to ask a prospective realtor before hiring, short circuiting a lot of the above regrettable situations before they manifest themselves. Click here to read it and call us first to get the right answers that you can rely on to finally get your home sold!