What would you do?

[steveny]

I have a house which has been on the market for 5 months with not a lot of action. I have reduced the property 30% to just get it sold. The reduced price was the price I wanted to start it at in the first place but the agent wanted to start it higher. I think the real problem is my agent is just not as good as I once thought she was. She has an interested party but won't follow up on it.
I hate to say it but from little comments and such I feel she may be a little jealous or pissed at me. I asked her to follow up on several empty but not yet on the market houses. If she could set up a deal I would pay her a straight 3%. She never followed through and I did thus buying 3-4 houses out of the 10 or so that were empty. Lack of follow through has been an issue from day one. I think she may be pissed that I did in fact purchase most of these properties well under market value.
She seems to be the agent who puts the sign in front of the property and expects the property to sell itself. I am very frustrated. She has 3 properties listed for me right now and no action. Meanwhile the other two agents in the area ARE moving property.
Here is an email I received from my agent this morning after asking why she did not follow up on the financing for the latest interested party. The straw was a half assed attempt IMO. Once again no follow through. Also I never asked her to spread straw nor did she ask me. She offered to put the straw down. What would you guys do? How would you answer this email?

I have to tell you Steve-
I work hard I really do, but if you want an agent that is going to force somebody to buy a house, then you have the wrong agent. I have tried everything I can think of to sell this house. But I'm not going to shove someone into something thats not right for them. This kid is struggling as it is, god knows his brains aren't the most intelligent. They seriously cannot even think of affording this house. I have to be able to sleep at night, (its a matter of health!) If I believe the house is right for someone I sell it like crazy. And there have only been two people who have come close.
How many other agents out there do you think, would be over there spreading seed and straw, to make the front lawn look better!?
I'm sorry it hasn't sold,I don't know what to tell you, other than I'm not making any money on it either!!!

 

[NsSeX]

I would look for a different agent, it definetly seems like your agent is dragging her as$.
When my parents decided to sell their house and move into a bigger house, their agent did all sorts of things to sell their house. The agent listed the house in real estate magazines, posted the house on the internet real estate sites and even made nice little flyers! needless to say, within the first week my parents had atleast 15 different people come and check their house. Their old house sold in less than 2 weeks.
I would definetly look for a more qualified agent who will do their best for you!

-paul

 

[steveny]

She has done all you said. She has had interested parties. She is not a sales person. As soon as the interested person has some sort of issue my agents just freezes up. For example if the buyer is not happy with the color of the living room my agent says ok lets go look at another house. This is after I have told her several times in person, by phone and email, "I will do what ever the buyer wants to sell this house." If I have to paint the living room fine. If I have to put up a garage fine. If I have to stand on my head fine. Whatever it takes. Then she shows the buyer another house . AHHHH!!! I have even offered her a 7 thousand dollar bonus. I have offered to buy one of her properties at full price. I don't get it. How do you light a fire under someone's ass who is non-combustible?

 

[NsSeX]

I don't know what to tell you then, other than find someone that is motivated and a good sales person. Maybe look into the other two agents in your area that are actually selling their clients' property?
Best of luck to you in your sales. :wink:

 

[DocL]

... I don't get it. How do you light a fire under someone's ass who is non-combustible?

Therein lies your problem. For some reason or another she's not motivated to sell your house. She probably thinks you have the financial resources to just sit on an empty house and may be jealous as you've stated. I have found that people not motivated by money are usually losers in their industry.
My wife is a real estate agent and she does whatever it takes to get a deal done. Heck, she's even paid some of the doc fee's out of her pocket so the deal could close. You need to fire this agent and get someone who is hungry to make a buck. This one is lame and obviously is placing her personal feelings over your best interest when she in fact works for you.

 

[steveny]

Therein lies your problem. For some reason or another she's not motivated to sell your house. She probably thinks you have the financial resources to just sit on an empty house and may be jealous as you've stated. I have found that people not motivated by money are usually losers in their industry.
My wife is a real estate agent and she does whatever it takes to get a deal done. Heck, she's even paid some of the doc fee's out of her pocket so the deal could close. You need to fire this agent and get someone who is hungry to make a buck. This one is lame and obviously is placing her personal feelings over your best interest when she in fact works for you.

I agree she should do what her client wants not what she thinks is best. I am currently sitting on several houses or deals waiting for her to finish up her end of the deal. If I weren't involved with her on multiple deals I will tell her to jump in the lake for sure.

 

[Dtrigg]

Hook her. When we sold our last house we had a complete marketing plan from the agent that we agreed to. Results: (1) we sold our house before it came on the market (2) it sold for over asking price (3) we had two backup offers, and (4) on the day of the brokers open house, we had 96 brokers show up to see it.

 

[Russ]

Something doesn't sound right. It's in your broker's best interest to sell the house, since when she does, she makes her commission. Is she a licensed broker or a sales agent? How long has she been in the business? What kind of listing agreement did you sign, and for what term?

To her credit, however, if she has a buyer who is interested but cannot afford the house, she is right not to push the deal along. There's no sense in sending out a contract to someone who will never get financing. How did your broker determine the prospective buyer couldn't afford the house?

 

[steveny]

Something doesn't sound right. It's in your broker's best interest to sell the house, since when she does, she makes her commission. Is she a licensed broker or a sales agent? How long has she been in the business? What kind of listing agreement did you sign, and for what term?

To her credit, however, if she has a buyer who is interested but cannot afford the house, she is right not to push the deal along. There's no sense in sending out a contract to someone who will never get financing. How did your broker determine the prospective buyer couldn't afford the house?

She is a sales agent. I signed a standard 6 month contract with a clause if I sold the house she gets 1%. I have sent her 8 of the 15 people who have looked at the house.

She determined he couldn't afford the house because she thinks he can't. She has no factual basis to build her opinion on. I told her I would make the down payment for the buyer if that is what it took to get him in.

I know this may not sound good but I could not care less if the buyer defaults on the note. I need to sell this house NOW.
I have a option to buy the house at a certain price. That option expires on June 6th. I will have to buy the house myself if it does not sell on the open market. After getting the option I rehabbed the entire house and have a sizeable interest in the house. Buying the house will put a damper on my summer plans. So because I have a lazy agent I now have a fu*ked up summer.

 

[Russ]

I'm guessing you signed an exclusive, not an MLS listing, right? You should consult a local attorney to see whether it makes sense to list it through another broker on MLS (effectively selling it "on your own") and give the original broker her 1% on closing. If you negotiate the MLS commission down a point, you're in the same shoes with a better shot at selling the place.

Good luck.

 

[steveny]

I'm guessing you signed an exclusive, not an MLS listing, right? You should consult a local attorney to see whether it makes sense to list it through another broker on MLS (effectively selling it "on your own") and give the original broker her 1% on closing. If you negotiate the MLS commission down a point, you're in the same shoes with a better shot at selling the place.

Good luck.

The house is listed on the MLS and priced below market value.

 

[Russ]

If it's on MLS, why do you suppose no other brokers are showing your house? Or, if they are, why do you suppose they're having no success? Perhaps the appraisal was overly optimistic?

 

[steveny]

If it's on MLS, why do you suppose no other brokers are showing your house? Or, if they are, why do you suppose they're having no success? Perhaps the appraisal was overly optimistic?

The original proposal was overly optimistic. The current price is under market value. Other agents have shown the property but my agent has not been diligent about getting feedback so we can correct whatever the issue is that is keeping the house from selling.

 

[White92]

The agent does sound lazy to me. Even a little rude. She states this in her email to you about a potential buyer, "This kid is struggling as it is, god knows his brains aren't the most intelligent." If she has this opinion of a buyer and tells the seller about it, that's just not good business sense. She then talks about how she still has to be able to sleep at night "as a matter of personal health."

I'd get a new agent if I were you. You have already stated you'd do anything to get it sold. Even pay the down payment or build a new garage. I'd take the listing elsewhere and still pay her the 1% you agreed on before. 1% has to be cheaper for you than paying the entire down payment right?

Or there's always the option of getting your own real estate license and selling your own houses. You seem to be doing all of the work anyway. :smile:

 

[comquat1]

Sounds like she's acting like a buyer's agent and not a seller's agent.

 

[Cairo94507]

Dump her and move one to someone that wants to sell and has the requisite skill set.

 

[Bilulan]

I may have posted this idea on a different thread before, but its worth suggesting....

since she has it listed on the MLS, raise your price back up (maybe not all the way back up) and offer 8% commissions. If she isn't trying to push it, atleast motivated agents in your area will look at a 4% take and bring all their potentials your way first.

My stepfather doesn't actively use his real estate license any longer, but he still has other agents call him, from time to time, asking if he has any 4% listings...

 

[steveny]

I may have posted this idea on a different thread before, but its worth suggesting....

since she has it listed on the MLS, raise your price back up (maybe not all the way back up) and offer 8% commissions. If she isn't trying to push it, atleast motivated agents in your area will look at a 4% take and bring all their potentials your way first.

My stepfather doesn't actively use his real estate license any longer, but he still has other agents call him, from time to time, asking if he has any 4% listings...

I am close to getting an extension on the option. When I do I am listing with another agent and raising the price and putting a 15% commission on the sale. That should get it done. I am also going to do this on another listing the "do nothing" agent has listed for me. As The Donald would say "you're fired!"

 

[White92]

15%! Holy crap! You're quite generous. hehe That would be kind of funny if the agent you fired showed up with a buyer that she represents and ends up with a 7 1/2% c :smile: ommission.

 

[queenlives]

I agree she should do what her client wants not what she thinks is best.

steve,

being a sales/sales management professional (though not in real estate), i couldn't disagree more with this statement. because i need a baseline to work from, i'm assuming this agent is a seasoned real estate sales professional, working for a real estate brokerage with serious, historical, expertise in your market and you received recommendations from other sellers regarding her selling style and results - otherwise it's likely you wouldn't have arranged to do multiple, simultaneous deals through her and her business. (please correct me if i'm wrong) that in mind...

not for a second do i believe that a salesperson should do what their client and/or their manager wants just because they are the client (or the manager). i have a couple of friends in the real estate market and i'm often surprised by the number of stupid requests/demands their clients make on them re selling their house.

the salesperson has a professional reputation to build and manage over the years... all it takes are a few "i got screwed" customers to get the word out and that'll be the end of their high-end professional goals.

were it me, if you're unhappy with this person's performance, i'd suggest sitting down with her and her broker/owner and reviewing the action plan vs results thus far, create a 30 day action plan that also includes a palatable exit strategy for both parties (you/broker).

good luck and be well.
hal

 

[Modernceo]

Hook her. When we sold our last house we had a complete marketing plan from the agent that we agreed to. Results: (1) we sold our house before it came on the market (2) it sold for over asking price (3) we had two backup offers, and (4) on the day of the brokers open house, we had 96 brokers show up to see it.

Wow. What was this marketing plan, and any pictures of your old house ? Is the area you live in really hot real estate wise out of curiosity ?

 

[steveny]

I have an offer on paper from a pre-approved buyer. Looks like the house is sold !!!!!

 

[White92]

Congrats! So what exactly were your summer plans that are now a go?