Thursday, January 27, 2011

When the going gets tough, the tough fire their real estate agent?

That's just what some struggling homeowners are doing.

Is this the proper course of action to take for a home owner trying desperately to sell their house to switch Realtors?

Obviously some Realtors do work harder than others, and a lazy Realtor can be the difference between a house selling and not selling. But a good, successful Realtor spends money and time advertising, putting information on websites (not just the M.L.S.), shooting videos, making virtual tours, printing flyers, and hosting Open Houses.

Is it fair to hold a hard working Realtor accountable when a house doesn't sell?

“Some people think the next Realtor will make all the difference, or be the lucky charm, or maybe just provide a fresh start,” said Linda Grotenstein, an agent with Coldwell Banker in Montclair. “Of course, in today’s market,” she added, “really the most important thing is price.”

“Price is, of course, a crucial matter,” said Ms. Miggins, and Agent for Keller William. “If you are not willing to change your price, do not switch Realtors. And even if you are, it does not always work.”

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Many times Realtors have a listing, it expires, and the home seller decides to use another Realtor. By this time, the home owner has come to the realization that the price may have been a factor too and decides to lower the price. The house sells, the new Realtor looks like a hero, and the former Realtor has nothing to show for their effort.
So how can you as a Realtor avoid this type of letdown?

The best way is to avoid sellers who are inflexible about prices. Have the discussion with them about a good time table on dropping the price systematically. Lowering the price in a different price range can add a fresher group of home buyers to your market, which will improve your chances of selling the house. For example, dropping a listing price from $259,999 to $249,999 will allow you to add all the people whose maximum spending limit is $250,000 into the fray.

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