He ain't gettin' me any buyers. Shown once in like 6 weeks ! Contract expires around Nov 3rd.
reduce price from like 257K to 250k, maybe ?
reduce price from like 257K to 250k, maybe ?
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It's a tough market right now. Sounds like he sucks, but I think anyone won't have luck right now.Comment -
He may suck---but damn, this market absolutely sucks donkey balls right now.Comment -
I know $50000 homes that wiont move in this marketComment -
gotta agree with the others. i don't care if queen elizabeth was your realtor, not many people these days are looking to drop a quarter million in a house. can't blame the guy. but then again you are paying him to sell it.Comment -
Martin you can probably get a whole city block for 50k in Detroit.The homes are located in Alabama and were $100,000 about 4 of them I'm busy trying to get financing for them.Comment -
Doubt its his fault, here in NW FL there is a brand new 16 story condo trying to sell 2 bedroom, 2.5 baths, marble baths, stainless appliances,granite counters, top of the line everything, private parking garage, boat slips, etc., right on the water. They are asking $169k, 5 years ago the same new type of condo would have been $450-500k.
laterComment -
Doug,
do a market study and see what houses similar to yours are selling for in your neighborhood. you can get the information at realtor.com Not just listings, closings.
What city are we talking about?
One thing you should do regardless of the price is offer to pay the maximum of the buyer's closing costs/points allowed. I think the maximum is 3%. This means that the buyer has to come up with less cash out of pocket.
I don't know how well you know the realtor, but I only ever work with the top realtor in my area. You can find out who is the best in terms of the number of closings in the past year from the national board of realtors. usually the best realtors advertise their sales volume.
Find out who that is and call them and ask them what they could list your house at where it would sell right away.Comment -
Going back to the original post Doug I see it like this he is working for your money.Go to his office and put the squeeze on him give him a 14 day deadline to find a viable buyer or he's fired.Comment -
I not only hold a re license but also have an instructors license to teach real estate to people seeking their license. Although I have been inactive the last few years I will tell you this. You can sell someone a bad tie but you cannot sell them something as valuable as real estate. The property sells itself. An agent can point out the features and perhaps advise them why this is right for them but I will tell you that there are only a few exceptional agents and even they have a negligible effect on the property getting sold. Price and location is everything in most transactions.
The biggest thing you have going for you when you use an agent is that they will then put the property into their system so all other agents get to see it who may have buyers in that price range and geographic proximity. Finally, people search for property in 10,000, 30,000, 50,000 or 100,000 increments. Therefore, if you are looking to drop your price always drop it slightly below the zero. In this case you'd be better off dropping your property to $249,900, that way you will get the buyers in the under 250K range. Otherwise, those buyers will not be alerted to your proerty because their agent (not all agents are realtors by the way) has them on the system to identify only properties under 250 and it will not alert them to your property.Comment -
Agree with the $249,990.
People these days buy homes from the information they gain through websites such as zillow, redfin, realtor etc. If you only got one showing in 6 weeks is probably because of price. You can only place blame on the realtor solely on the reason that he's not motivated enough to sell your house where he should be using his contacts on who needs a house in that range. Only the successful realtors have this skill and can find people who need specific homes which suit their lifestyle.Comment -
249 and you're goldenComment -
try to find a hot women realtor and bang the crap outta her.Comment -
The computer sells homes now a days. The old, "I have a buyer" is normally a sales tactic used to get a seller to list with a broker. Every buyer who has an agent gets emails every day of houses/condos/properties that fall within their parameters. It's automatic. The Buyer wakes up, checks her emails, finds the email from the realtor and there before her very eyes is every property that got listed the day before. In todays market it's as much the Buyer asking to see a property than the Buyer's agent recommending it.Comment -
This will work but only before you give her the listing.Comment -
I'm a licensed Realtor. What state you in?Comment -
You have to realize no matter where you are in the country people arent buying. In my neighborhood there is about 12 houses for sale because many bought houses that they can't afford anymore. If you are selling a house now you almost have to expect to sale for less, obviously there are exceptions to the rule but most people in America are really struggling to pay bills and are not looking to buy a house at this point. Good luck to you and hope everything works out.Comment -
^^^^ trueComment -
I live 45 minutes from San Francisco and in not the most desirable location in the Bay Area. They recently started building 2 new subdivisions and the lots are filling up quickly. All homes being sold are between $400,000 to $500,000 and could definitely be higher depending on options and lot.
Those homes once sold for a million and are now basically half price. Combine that with the current 4.35% / 20% down and your payment is around $1,700 for a home thats well over 3,200 square feet and can reach almost 4,000.
Houses are flying like crazy. You wouldn't think it's a recession here or better yet a double dip recession.Comment -
I'm a licensed agent as well.
My advice: gone are the days of saying, "ok, i'd really like to net 230k out of this house, so let me put a price of $257,000 and hope I get lucky." If you feel like the price is already lean, then you may be sh1t outta luck because you're priced to high. But if you will accept less, go ahead and run an estimate of closing costs (add in buyer's closing costs as another poster said), tack that on to your net number, and that's your price. Then you can just be FIRM when you drum up some interest. If you still don't get any activity, then it confirms you're priced too high and you either need to get a reality check or take it off the market and hope for a better market in the future. Good luck.Comment -
Houses sell if priced right
I bet your house is over priced and your looking for suckers and that is not happening anymoreComment -
If you can't get your number better off just renting it out.Comment -
it might be the marketComment -
FSBO. don't waste money on a realtor.Comment -
I'm a developer and builder hanging on by a thread....we've dropped prices and changed agents and neither had much of an effect. Just a tough, tough market right now.. we had to go rent some properties because nobody could qualify for loans, even with record low rates that squeezed in under the FHA limits.Comment -
Mine has been listed at $259,000. Get about one showing every three weeks. Right now, as I'm writing this, I have workmen here doing 5K worth of improvements to the land. I will eat that 5K and will go to $249,900. Real bad situation folks. I'm taking Beat The prick real, real seriously.
Ain't dark yet but it's gettin' there.Comment
buddy!