House not selling

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bikechuck
Posts: 495
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Re: House not selling

Post by bikechuck » Tue May 28, 2019 12:19 pm

JoeRetire wrote:
Mon May 27, 2019 6:23 am
cosine wrote:
Sun May 26, 2019 8:40 pm
After the realtor fees We will essentially be losing money on the property. I don’t really care at this point, I just want to get rid of the property.

What should i do?
There is only 1 reason why a house isn't selling - the price is too high.

Lower the price so that it sells.
That is way oversimplified.

tenkuky
Posts: 763
Joined: Sun Dec 14, 2014 4:28 pm

Re: House not selling

Post by tenkuky » Tue May 28, 2019 12:26 pm

mbres60 wrote:
Tue May 28, 2019 12:04 pm
Have you checked your contract to see when you can "fire" the realtor? Even if he calls today I would still want to fire him/her. He/she is not helping you sell your house. They should have told you right up front to paint, declutter, and de-personalize your house.
+1 on the advice to declutter and de-personalize, realtor 101.
However, sometimes there is a clause stating that the original realtor still gets the commission even after firing for a specific number of days, due to them attributing the sale to all the hard work they put in listing, showing etc.
Be careful with the firing, keep in line with contract.

researcher
Posts: 979
Joined: Thu Mar 12, 2015 7:05 pm

Re: House not selling

Post by researcher » Tue May 28, 2019 12:27 pm

cosine wrote:
Tue May 28, 2019 12:16 pm
I dont care if its memorial day, labor day, Christmas or new years. I work all types of holidays as well.
It sounds like you should definitely do both you and your realtor a favor by parting ways.
But don't expect the outcome to be dramatically different.
My guess is that buyers are seeing signs of a worn house, beyond just the ruined (re-painted) walls.

Did you have new pictures taken after re-painting, fixing the rotted countertop and removing all of the clutter?

I'd probably pull the house off the market, take new pictures, then re-list so it shows up as a "new" listing on the MLS.
That, combined with a price reduction to account for the "worn" look of the house.

bayview
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Location: WNC

Re: House not selling

Post by bayview » Tue May 28, 2019 12:28 pm

We interviewed a Realtor about my mother’s house on Saturday. While we were on the road Sunday, we texted back and forth (while I was the passenger! :D ) about listing price, etc. Yesterday (Memorial Day) she sent all the paperwork for Docusign.

I didn’t expect or ask her to do it, but she wants the listing and the sale. This is part of life for Realtors.
The continuous execution of a sound strategy gives you the benefit of the strategy. That's what it's all about. --Rick Ferri

Topic Author
cosine
Posts: 23
Joined: Sat Feb 02, 2019 2:42 pm

Re: House not selling

Post by cosine » Tue May 28, 2019 12:56 pm

researcher wrote:
Tue May 28, 2019 12:12 pm
cosine wrote:
Tue May 28, 2019 11:00 am
Well i texted him Sunday with no response. I called him monday morning and left a voicemail with no response.
I'm not suggesting realtors should work bankers hours, but you do realize this was Memorial Day weekend, right?
Maybe he spent Monday visiting the graves of his loved ones.

the walls were ruined...
We had quite a few showings and ppl mentioned it looked worn...
bathroom countertop which had some issues ( rot from a small leak )
There were stains on the walls, slime ( will never buy this again for the kids!), and they were just dirty.

everything appears to be in very good condition.
Now the house is in great shape and is essentially like a brand new house in my opinion.
The house is very clean. My wife is an extremely clean person as am I. The only thing that was Worn was our walls.
There seems to be a disconnect between your perceptions of the house and that of prospective buyers.

How do walls get "ruined," yet everything else (carpets, cabinets, trim, ect) remain in "very good condition"?
And house with rotting countertops from a leaking faucet is certainly not "essentially like a brand new house."
Do you have kids? They are deadly with a crayon, marker, slime, or anything of that matter in there hands. We mostly stay downstairs which is all hardwood. The bedrooms upstairs have carpet. We essentially only go upstairs to sleep so the carpets are in great condition. The cabinets were repainted. The trim was repainted as well. The walls, trims, cabinets did have some scuff marks which the painter fixed.

We tried to get the counter top fixed for a few months but had a hard time finding a contractor to do it. The building had installed the sink wrong apparently and there wast granite on the bathroom counter top, it was a piece of wood which slowly started rotting.

jminv
Posts: 897
Joined: Tue Jan 02, 2018 10:58 pm

Re: House not selling

Post by jminv » Tue May 28, 2019 1:14 pm

cosine wrote:
Tue May 28, 2019 11:00 am
1. As far as the initial price. The attitude of the realtor seems to be very laid back. he brought some comps and recommended we price it around 415-425, i deferred to him and he said 425 would be ok.
Realtor doesn't know what he's doing.
cosine wrote:
Tue May 28, 2019 11:00 am

2. He never mentioned repainting the house until we brought it up to him 1 month later. He did have some painters that he knew and we got the house painted at a reasonable price.
Not good either. He should have told you could do for a better showing. Sounds like he doesn't care which is confirmed when he won't respond to you for 2-3 days and/or he isn't particularly good at his job. A realtors job is to be available. Good ones are very responsive. 2-3 days or more is crazy holiday, no holiday, whatever.
cosine wrote:
Tue May 28, 2019 11:00 am
3. I have made my intention clear to him from day 1 that my goal was to sell the house as quickly as possible. I made it clear that i'm not looking to make any money, I just want it to be sold. 10-30 K is not worth the headache for me.
Sounds like you and your realtor are not aligned. Replace him. Complain to whoever his broker is to get out of it and find a new realtor.
cosine wrote:
Tue May 28, 2019 11:00 am
So now the question is what to do from here. Last week we spoke and decided that we would reduce the price down to 399 on Monday ( yesterday ). Well i texted him Sunday with no response. I called him monday morning and left a voicemail with no response. And now its Tuesday afternoon and still no call. Regardless of everything that has transpired over the last 3 months the one thing i find intolerable is lack of communication. I plan on seeing if he calls at all today. If he doesnt i'll call him in the morning and say, " We are unhappy with the service we have received, there has been a lack of communication and we would like to end this and find a new realtor. Of course i'll be professional but I have never fired anyone before and i'm not sure what the repercussions of this could potentially be.

I do have 2 realtors i'd like to possibly speak to after. This is just becoming one big mess. Hopefully it will end soon. If i can avoid it I will hopefully never have to move again. very frustrated. thanks for helping and listening.
It doesn't take much to text or call so he just lacks respect for you as a client. It also tells me he's probably a pretty poor realtor since you want to lower it to 399 but no action there. Lowering the price would make the house sell quicker so should be in his interest. Can't imagine how it will be when you get an offer.

You need to look to whatever agreement you signed with your realtor. You can't just tell them you're fired and be able to walk away without any obligations if you're still within the agreement's timeframe. If the timeframe has passed however you can find a new realtor. Read the agreement so you understand what you agreed to and then complain to his broker to get out of it. What brokerage is he with? If it's a decent brand, they'll probably let you get out of it, otherwise they might only reassign you to a different realtor.

I've only ever met a few realtors that were really good at their jobs but the difference between bad and good ones is stark. Realty has low barriers to entry and unfortunately attracts people who want to do it as a side job or see it as an easy path to riches. People that see it as an easy path to riches tend to be lazy and also not last all that long since the reality is different. You seem to have gotten one of the lazy ones. Feel fortunate you didn't get one of the slimeball ones. During the last recession, my parents had a home sit for awhile and dropped the price multiple times below what comps were selling for. It turned out that the realtor was using it as a comp to upsell prospects on her husband's new homes, since they were in close proximity. This was in a small town with a limited number of listings and one major brokerage with a couple smaller ones without few clients. Parents did not know her husband was a builder as their social circle didn't intersect, they hadn't been there long, and she didn't volunteer the information. She would actively direct these people to my parents home, make sure she was always the agent from the brokerage showing the home, and talk down absolutely everything about it and label my parents as difficult people (they weren't, they were easy to deal with) and then show them her husband's new homes, ie, the family building company's homes who she had the listings for too. She was also prevented other the other brokerages from doing showings (when request went in, they were told house was unavailable for showings). I figured it out and we taped her the next few times she did a showing (legal to record where it was). Had a relative pose as a buyer to see what she was doing when she got to her husband's homes. Really sleazy. She had no intention of doing anything to sell the house ever. To her, it made perfect sense though since her husband's building business had them teetering on the edge of bankruptcy. When she sold her husband's homes she avoided personal bankruptcy. If she sold my parents home, she would get a transaction fee but lose the comp she was using to upsell. The high traffic she was bringing was misleading and was also a major pain due to cleaning before each showing. Dumped the agent (and got a settlement later), relisted, the house sold in a week. Never looked at a realtor in the same way since.

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DanMahowny
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Re: House not selling

Post by DanMahowny » Tue May 28, 2019 1:19 pm

Message me your realtor's phone number.

I will call him and fire him immediately. I'm serious, and would be glad to do it.
Funding secured

researcher
Posts: 979
Joined: Thu Mar 12, 2015 7:05 pm

Re: House not selling

Post by researcher » Tue May 28, 2019 1:21 pm

cosine wrote:
Tue May 28, 2019 12:56 pm
Do you have kids? They are deadly with a crayon, marker, slime, or anything of that matter in there hands.
The cabinets were repainted.
The trim was repainted as well.
The walls, trims, cabinets did have some scuff marks which the painter fixed.

We tried to get the counter top fixed for a few months but had a hard time finding a contractor to do it.
Yes, two kids under 8, no crayon/marker/slime on the walls.

Your follow-up adds helpful context missing from the OP, which simply said the walls needed repainted.
In actuality, you did all of this AFTER the house sat on the market...
- Painted "ruined" walls
- Painted scuffed trim
- Painted scuffed cabinetry
- Repaired rotting countertop
- Stained faded front door
- Moved lots of clutter/decorations/toys out of house

Yet you state "I'm not exactly sure why the potential buyers were saying worn"?

veindoc
Posts: 559
Joined: Sun Aug 14, 2016 9:04 pm

Re: House not selling

Post by veindoc » Tue May 28, 2019 1:37 pm

cosine wrote:
Tue May 28, 2019 12:56 pm
researcher wrote:
Tue May 28, 2019 12:12 pm
cosine wrote:
Tue May 28, 2019 11:00 am
Well i texted him Sunday with no response. I called him monday morning and left a voicemail with no response.
I'm not suggesting realtors should work bankers hours, but you do realize this was Memorial Day weekend, right?
Maybe he spent Monday visiting the graves of his loved ones.

the walls were ruined...
We had quite a few showings and ppl mentioned it looked worn...
bathroom countertop which had some issues ( rot from a small leak )
There were stains on the walls, slime ( will never buy this again for the kids!), and they were just dirty.

everything appears to be in very good condition.
Now the house is in great shape and is essentially like a brand new house in my opinion.
The house is very clean. My wife is an extremely clean person as am I. The only thing that was Worn was our walls.
There seems to be a disconnect between your perceptions of the house and that of prospective buyers.

How do walls get "ruined," yet everything else (carpets, cabinets, trim, ect) remain in "very good condition"?
And house with rotting countertops from a leaking faucet is certainly not "essentially like a brand new house."
Do you have kids? They are deadly with a crayon, marker, slime, or anything of that matter in there hands. We mostly stay downstairs which is all hardwood. The bedrooms upstairs have carpet. We essentially only go upstairs to sleep so the carpets are in great condition. The cabinets were repainted. The trim was repainted as well. The walls, trims, cabinets did have some scuff marks which the painter fixed.

We tried to get the counter top fixed for a few months but had a hard time finding a contractor to do it. The building had installed the sink wrong apparently and there wast granite on the bathroom counter top, it was a piece of wood which slowly started rotting.
With new construction nearby it’s obvious your house didn’t show well with all that you described. Sometimes we just get used to our home as is and it’s hard to be objective. Scuffs and dents disappear as do clutter. I’m sure the items you mentioned just scratch the surface.
You are not entirely to blame, your realtor as an objective party should have pointed this all out to you. What does your contract say? You have not addressed that yet. What happens do you if you breach the contract and how long are you contracted with him. I think standard contracts are 6 months.

The good news is once you put yourself under the $400k mark, you potentially open yourself up to new buyers whose max is $400k.

inbox788
Posts: 6393
Joined: Thu Mar 15, 2012 5:24 pm

Re: House not selling

Post by inbox788 » Tue May 28, 2019 1:43 pm

cosine wrote:
Tue May 28, 2019 12:16 pm
I dont care if its memorial day, labor day, Christmas or new years. I work all types of holidays as well. All i'm asking for is a text message which takes 5 seconds. I'm not asking for a 2 hr conversation.
Agree, he should have responded in some way, but what was the nature of the text and what type of response was requested?

If he's not responsive to you, he may not be responsive to prospective buyers.

Is there an exclusive arrangement? How long is the period?

Consider hiring a new agent.

As far as pricing, how does it match up with Zillow and other estimate? How many homes sold last year in a 5 or 10 square block radius? How many are currently listed? Are you above or below the median size and price?

Presintense
Posts: 192
Joined: Thu Nov 06, 2014 1:58 pm
Location: "Somewhere in the middle of America"

Re: House not selling

Post by Presintense » Tue May 28, 2019 1:48 pm

[/quote]

Is there an exclusive arrangement? How long is the period?

[/quote]

My guess is that many sellers consider this immaterial fine print and don’t even give it a second thought before signing... Until their house doesn’t sell and they realize they are stuck.
Performance = Potential - Distraction

Quickfoot
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Re: House not selling

Post by Quickfoot » Tue May 28, 2019 1:50 pm

You will be better off taking it off the market for a couple weeks and relisting. That will get you the initial burst of people seeing the property again and allow you to avoid a long price cut history which indicates a seller under pressure. A lot of people get automatic email alerts when matching properties are listed.

stan1
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Re: House not selling

Post by stan1 » Tue May 28, 2019 1:53 pm

cosine wrote:
Tue May 28, 2019 11:00 am
I do have 2 realtors i'd like to possibly speak to after. This is just becoming one big mess. Hopefully it will end soon. If i can avoid it I will hopefully never have to move again. very frustrated. thanks for helping and listening.
Why these two realtors? Do they sell a lot of houses within 2-5 miles of your home (local experts) in the price range of your house? Volume of closed sales on similar houses is a metric I've used with success in the past. Recommendations from other people is not always a good input.

I agree it's likely the current realtor will let you out of the contract if you ask. My guess is he's as willing to part ways as you are.

randomguy
Posts: 7832
Joined: Wed Sep 17, 2014 9:00 am

Re: House not selling

Post by randomguy » Tue May 28, 2019 2:00 pm

Christine_NM wrote:
Tue May 28, 2019 1:53 am
randomguy wrote:
Mon May 27, 2019 7:22 pm
Christine_NM wrote:
Mon May 27, 2019 5:35 pm
delamer wrote:
Mon May 27, 2019 12:58 pm
In my area, in order for a house to be considered a “new listing” it has to be taken off the MLS for 60 days

So don’t assume that you can take it off for a week and then start again with a new realtor.
I've heard (but have no experience with this) that taking it off the market for a few months will help. Everyone who is ready to buy in your neighborhood has already seen the house or heard of your address. After too long with no sale it's supposed to help to go dark for a while and let a new bunch of buyers for your area accumulate.
And in those 60 days, the person who would love your house might hit the market and bought another house😀. I would hesitate to go dark over June. Dec/Jan sure....
When I heard this idea, possibly on HGTV, it was to counter the myth that there's one right person who will fall in love with your house and who will come along tomorrow. It makes a lot of sense to me that there are only so many buyers for a given area and they or their agents know your property by sight or listing if it's mls for any length of time. After a few months agents won't mention it to buyers because the listing is stale -- and new buyers think something must be wrong with it. Even if nothing is wrong but the price, there are newer listings all the time.
Last time when you were shopping for a house, did you skip listing because they had been on the market too long? I know that online I looked at pretty much every single house in my price range/location to make a list of ones that looked promising. How long they had been on the market wasn't a factor. It feels like one of those actions where people do something to do something. It just doesn't seem productive to miss out on 60 days worth of new buyers in order not to be stale. It might feel better to get a flood of activity (i.e. all those buyers that over that period of time haven't bought a house) rather than a trickle, but I am not sure the end effect will change much.

I sort of even doubt it works since places like Zillow track all MLS activity by property. You will be a new listing but all that past activity will show up. When you see the listings and price reductions without a sale, it is pretty easy to see what happened.

JediMisty
Posts: 217
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Location: Central NJ

Re: House not selling

Post by JediMisty » Tue May 28, 2019 2:05 pm

researcher wrote:
Tue May 28, 2019 1:21 pm
cosine wrote:
Tue May 28, 2019 12:56 pm
Do you have kids? They are deadly with a crayon, marker, slime, or anything of that matter in there hands.
The cabinets were repainted.
The trim was repainted as well.
The walls, trims, cabinets did have some scuff marks which the painter fixed.

We tried to get the counter top fixed for a few months but had a hard time finding a contractor to do it.
Yes, two kids under 8, no crayon/marker/slime on the walls.

Your follow-up adds helpful context missing from the OP, which simply said the walls needed repainted.
In actuality, you did all of this AFTER the house sat on the market...
- Painted "ruined" walls
- Painted scuffed trim
- Painted scuffed cabinetry
- Repaired rotting countertop
- Stained faded front door
- Moved lots of clutter/decorations/toys out of house

Yet you state "I'm not exactly sure why the potential buyers were saying worn"?
This reminds me of when I and my former fiance were selling our respective homes to buy a home together. Mine: newly painted walls throughout and outside, newer roof, replaced all kitchen cabinets, bathroom cabinets, appliances, windows, and doors, newer a/c and heat, and newer hot water heater, refinished hardwoods or replaced tile throughout the house, new screened in porch. His: old worn carpet, marked up walls, leaks in bathrooms and kitchen, old cabinets, deck in disrepair, old, leaky windows and doors, leaves never cleared off property, older roof, pealing counter tops. Despite his being in a better location and slightly larger, mine sold within weeks and closed with only minor repairs requested. His went to contract four times before closing because folks kept backing out after the inspection. After each inspection, we fixed more items at his place to sweeten the deal. Although both houses were the same age and bought the same year, the neglect at his place made a huge difference. Lucky for him, the market was going up in 1999, so after nine months he got it sold. Twenty years later, the home we bought together was mine after I bought him out 17 years ago. I maintain it as well as I did my first place. People are looking for a huge discount if there are maintenance issues. And every issue they spot makes them think there are worse issues they can't see. Rather your realtor can be fired or you can get the agency to switch you to someone more on the ball, I'd get the new realtor to hold another realtors showing to get the word out that you've made improvements, get new photos, and comment about them in the listing. His realtor, BTW, was a part timer who was a friend and he lost at least one contract because his realtor was unavailable. He switched to my realtor who advised him on what to fix to help the sale and held a new realtors showing. But mainly the rising prices caught up with his asking price, I think. We got almost the same price despite my contract being months sooner .

JediMisty
Posts: 217
Joined: Tue Aug 07, 2018 7:06 am
Location: Central NJ

Re: House not selling

Post by JediMisty » Tue May 28, 2019 2:05 pm

researcher wrote:
Tue May 28, 2019 1:21 pm
cosine wrote:
Tue May 28, 2019 12:56 pm
Do you have kids? They are deadly with a crayon, marker, slime, or anything of that matter in there hands.
The cabinets were repainted.
The trim was repainted as well.
The walls, trims, cabinets did have some scuff marks which the painter fixed.

We tried to get the counter top fixed for a few months but had a hard time finding a contractor to do it.
Yes, two kids under 8, no crayon/marker/slime on the walls.

Your follow-up adds helpful context missing from the OP, which simply said the walls needed repainted.
In actuality, you did all of this AFTER the house sat on the market...
- Painted "ruined" walls
- Painted scuffed trim
- Painted scuffed cabinetry
- Repaired rotting countertop
- Stained faded front door
- Moved lots of clutter/decorations/toys out of house

Yet you state "I'm not exactly sure why the potential buyers were saying worn"?
This reminds me of when I and my former fiance were selling our respective homes to buy a home together. Mine: newly painted walls throughout and outside, newer roof, replaced all kitchen cabinets, bathroom cabinets, appliances, windows, and doors, newer a/c and heat, and newer hot water heater, refinished hardwoods or replaced tile throughout the house, new screened in porch. His: old worn carpet, marked up walls, leaks in bathrooms and kitchen, old cabinets, deck in disrepair, old, leaky windows and doors, leaves never cleared off property, older roof, pealing counter tops. Despite his being in a better location and slightly larger, mine sold within weeks and closed with only minor repairs requested. His went to contract four times before closing because folks kept backing out after the inspection. After each inspection, we fixed more items at his place to sweeten the deal. Although both houses were the same age and bought the same year, the neglect at his place made a huge difference. Lucky for him, the market was going up in 1999, so after nine months he got it sold. Twenty years later, the home we bought together was mine after I bought him out 17 years ago. I maintain it as well as I did my first place. People are looking for a huge discount if there are maintenance issues. And every issue they spot makes them think there are worse issues they can't see. Rather your realtor can be fired or you can get the agency to switch you to someone more on the ball, I'd get the new realtor to hold another realtors showing to get the word out that you've made improvements, get new photos, and comment about them in the listing. His realtor, BTW, was a part timer who was a friend and he lost at least one contract because his realtor was unavailable. He switched to my realtor who advised him on what to fix to help the sale and held a new realtors showing. But mainly the rising prices caught up with his asking price, I think. We got almost the same price despite my contract being months sooner .

quantAndHold
Posts: 3438
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Re: House not selling

Post by quantAndHold » Tue May 28, 2019 2:18 pm

I would do two things.

1) start interviewing new realtors. Your current one is not helping matters. Listen to what they say about the condition of the house and it’s pricing.

2) get a book from the library on home staging. I strongly suspect a problem there. If your house is being compared to new homes, it needs to show as well as a model home. In other words, it needs to live up to all the fantasies the buyer has about what home ownership means. When we listed our house, we did things like set the dining room table for a candlelight dinner, and put a tray with morning coffee service on the bed, and fresh flowers in strategic locations. Were the buyers buying our dining room table? Not directly. But they were buying into the fantasy of what it would be like to live in our house, which meant candlelight dinners and coffee in bed. Also, everything was freshly painted, and cleaned within an inch of its life, and the bed and bath linens were all brand new, in colors that went with the rooms they were in. The house looked better than it ever did in real life.

barnaclebob
Posts: 3701
Joined: Thu Aug 09, 2012 10:54 am

Re: House not selling

Post by barnaclebob » Tue May 28, 2019 2:25 pm

cosine wrote:
Tue May 28, 2019 11:00 am
Thank you all for the replies, alot of great points mentioned.

1. As far as the initial price. The attitude of the realtor seems to be very laid back. he brought some comps and recommended we price it around 415-425, i deferred to him and he said 425 would be ok.

2. He never mentioned repainting the house until we brought it up to him 1 month later. He did have some painters that he knew and we got the house painted at a reasonable price.

3. I have made my intention clear to him from day 1 that my goal was to sell the house as quickly as possible. I made it clear that i'm not looking to make any money, I just want it to be sold. 10-30 K is not worth the headache for me.

So now the question is what to do from here. Last week we spoke and decided that we would reduce the price down to 399 on Monday ( yesterday ). Well i texted him Sunday with no response. I called him monday morning and left a voicemail with no response. And now its Tuesday afternoon and still no call. Regardless of everything that has transpired over the last 3 months the one thing i find intolerable is lack of communication. I plan on seeing if he calls at all today. If he doesnt i'll call him in the morning and say, " We are unhappy with the service we have received, there has been a lack of communication and we would like to end this and find a new realtor. Of course i'll be professional but I have never fired anyone before and i'm not sure what the repercussions of this could potentially be.

I do have 2 realtors i'd like to possibly speak to after. This is just becoming one big mess. Hopefully it will end soon. If i can avoid it I will hopefully never have to move again. very frustrated. thanks for helping and listening.
Yeah its time for a new agent because you wanted to sell fast which means its should have been priced a little low market price hoping to be bid up. Your realtor didn't listen to you.

He should have also gone over all of the positives and negatives of the house and said why or why not to mitigate the negatives. At our initial meeting our realtor said that we may need to kick in a carpet allowance to replace the carpet if my house didn't sell fast. Turns out that a rented rug doctor got it 90% of the way to looking new which was good enough but it was still pointed out as a negative to our house from the start.

The third strike is slow communication.

At this point a new agent probably wont help you sell faster or for more money but you may as well give the commission to someone who deserves it more. You might not have given up much in the way of selling price either, we don't know what your comps are.

Bobby206
Posts: 95
Joined: Fri Oct 05, 2018 4:01 pm

Re: House not selling

Post by Bobby206 » Tue May 28, 2019 2:34 pm

delamer wrote:
Mon May 27, 2019 5:24 pm
RollTide31457 wrote:
Mon May 27, 2019 5:07 pm
For 2700 square feet, anything above $300k is going to cause some sticker shock for potential buyers.
In my neighborhood, you can’t buy a 1300 square foot townhome for under $400K.

If you get sticker shock as a potential buyer at the price/square footage you mentioned in my area, then you have zero understanding of the local market.
Yup. +1. It's silly to make statements about one's own market as it has no bearing on another market.

Same with people saying they don't want a pool. I am looking to buy a second home in a place that's often over 100 in the summer. People desire pools big time there! It's all about what market you are in.

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FlyAF
Posts: 388
Joined: Tue Jan 23, 2018 11:14 am

Re: House not selling

Post by FlyAF » Tue May 28, 2019 2:39 pm

randomguy wrote:
Tue May 28, 2019 2:00 pm
Christine_NM wrote:
Tue May 28, 2019 1:53 am
randomguy wrote:
Mon May 27, 2019 7:22 pm
Christine_NM wrote:
Mon May 27, 2019 5:35 pm
delamer wrote:
Mon May 27, 2019 12:58 pm
In my area, in order for a house to be considered a “new listing” it has to be taken off the MLS for 60 days

So don’t assume that you can take it off for a week and then start again with a new realtor.
I've heard (but have no experience with this) that taking it off the market for a few months will help. Everyone who is ready to buy in your neighborhood has already seen the house or heard of your address. After too long with no sale it's supposed to help to go dark for a while and let a new bunch of buyers for your area accumulate.
And in those 60 days, the person who would love your house might hit the market and bought another house😀. I would hesitate to go dark over June. Dec/Jan sure....
When I heard this idea, possibly on HGTV, it was to counter the myth that there's one right person who will fall in love with your house and who will come along tomorrow. It makes a lot of sense to me that there are only so many buyers for a given area and they or their agents know your property by sight or listing if it's mls for any length of time. After a few months agents won't mention it to buyers because the listing is stale -- and new buyers think something must be wrong with it. Even if nothing is wrong but the price, there are newer listings all the time.
Last time when you were shopping for a house, did you skip listing because they had been on the market too long? I know that online I looked at pretty much every single house in my price range/location to make a list of ones that looked promising. How long they had been on the market wasn't a factor. It feels like one of those actions where people do something to do something. It just doesn't seem productive to miss out on 60 days worth of new buyers in order not to be stale. It might feel better to get a flood of activity (i.e. all those buyers that over that period of time haven't bought a house) rather than a trickle, but I am not sure the end effect will change much.

I sort of even doubt it works since places like Zillow track all MLS activity by property. You will be a new listing but all that past activity will show up. When you see the listings and price reductions without a sale, it is pretty easy to see what happened.
To approach it from a different perspective. Spouse and I move around the country every 2-3 years for work and our move packages always benefit buying over renting so we've bought quite a few. I always look for the older stale listings. Anything that's been on the MLS for more than 3 months is where I start. The sellers likely can't buy their next place until it's sold, can't move for a job until it's sold, etc....they're ripe for the picking and we can generally take them to the cleaners. The situation is almost always the same, there is nothing glaringly wrong with the house, but the realtor/seller listed it too high at first and nobody made a move. Every lingering week that goes by, the less they will be able to get and everybody involved knows it.

NxNW
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Re: House not selling

Post by NxNW » Tue May 28, 2019 2:42 pm

quantAndHold wrote:
Tue May 28, 2019 2:18 pm
I would do two things.

1) start interviewing new realtors. Your current one is not helping matters. Listen to what they say about the condition of the house and it’s pricing.

2) get a book from the library on home staging. I strongly suspect a problem there. If your house is being compared to new homes, it needs to show as well as a model home. In other words, it needs to live up to all the fantasies the buyer has about what home ownership means. When we listed our house, we did things like set the dining room table for a candlelight dinner, and put a tray with morning coffee service on the bed, and fresh flowers in strategic locations. Were the buyers buying our dining room table? Not directly. But they were buying into the fantasy of what it would be like to live in our house, which meant candlelight dinners and coffee in bed. Also, everything was freshly painted, and cleaned within an inch of its life, and the bed and bath linens were all brand new, in colors that went with the rooms they were in. The house looked better than it ever did in real life.
Agreed. Get some new towels matching rugs. Take 1/2 the stuff out of your house in boxes. Reduce the furniture. Splurge on professional cleaning once a week and do it yourself before each showing. Put down bark or mulch the flower beds, put in new flowers. Spend a couple hundred on this now will pay back in offers.

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8foot7
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Re: House not selling

Post by 8foot7 » Tue May 28, 2019 2:42 pm

researcher wrote:
Tue May 28, 2019 12:12 pm
cosine wrote:
Tue May 28, 2019 11:00 am
Well i texted him Sunday with no response. I called him monday morning and left a voicemail with no response.
I'm not suggesting realtors should work bankers hours, but you do realize this was Memorial Day weekend, right?
Maybe he spent Monday visiting the graves of his loved ones.


Then you communicate that, either proactively to your clients with active listings, or by changing your voicemail greeting, or having an autoresponse on your e-mail. In a client-facing business in the year 2019 with so many options that take ten seconds to configure, I don't care what the actual reason is, there is no excuse for being completely incommunicado.

JoeRetire
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Re: House not selling

Post by JoeRetire » Tue May 28, 2019 2:44 pm

LiterallyIronic wrote:
Tue May 28, 2019 11:14 am
Jack FFR1846 wrote:
Mon May 27, 2019 7:51 am
JoeRetire wrote:
Mon May 27, 2019 6:23 am

There is only 1 reason why a house isn't selling - the price is too high.

Lower the price so that it sells.
This. Staging helps, but if you're too high, someone else with a lower priced equal house sells.

On the staging side, will people be tripping over kids toys trying to see the house? Consider getting some big packing boxes and pack up half of what you own. Clothes (especially those taking room in the closet), toys, books, kitchen items. The key is to make the "stuff" in your house look very sparse. Pictures on tables, gone. Anything that could be called a knick nack...gone. Anything on the kitchen counter, even the toaster, gone. Pretty much anything in the bathroom, gone. If this is too inconvenient, then you will wait longer and sell for less.
This a million times. When we were looking to buy, we were taken to one house and it was literally crammed with stuff in every nook and cranny. Just piles of everything everywhere. We nope'd right on out of there. We ended up putting in an offer on a house that was completely empty (and got declined) and then later put an offer on a different house that was also completely empty (got accepted). Knowing that, when we sell someday, I'm going to completely empty out the house.
If the price was right, a buyer wouldn't care. Or rather they would care, but would be willing to buy the house anyway.

No matter how crammed, there is someone out there willing to purchase it and uncram it themselves - but that impact the price. A crammed house will get less.

Staging is good. Cleaning is good. Repairing is good. But if you don't want to do any of that, just set the price accordingly.

Conversely, it could be cleaned and staged to perfection. But if the price isn't right, it won't sell.

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Re: House not selling

Post by JoeRetire » Tue May 28, 2019 2:46 pm

bikechuck wrote:
Tue May 28, 2019 12:19 pm
JoeRetire wrote:
Mon May 27, 2019 6:23 am
cosine wrote:
Sun May 26, 2019 8:40 pm
After the realtor fees We will essentially be losing money on the property. I don’t really care at this point, I just want to get rid of the property.

What should i do?
There is only 1 reason why a house isn't selling - the price is too high.

Lower the price so that it sells.
That is way oversimplified.
Every house will sell if the price is right. It's that simple.

Now, you may wish to get more. And as a result you may have to do more. But it will still come down to the price.

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8foot7
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Re: House not selling

Post by 8foot7 » Tue May 28, 2019 2:54 pm

bikechuck wrote:
Tue May 28, 2019 12:19 pm
JoeRetire wrote:
Mon May 27, 2019 6:23 am
cosine wrote:
Sun May 26, 2019 8:40 pm
After the realtor fees We will essentially be losing money on the property. I don’t really care at this point, I just want to get rid of the property.

What should i do?
There is only 1 reason why a house isn't selling - the price is too high.

Lower the price so that it sells.
That is way oversimplified.
It's absolutely the truth. All of the other crap comes down to "it's too much money for/because of [this other crap]." At some price everything moves.

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Re: House not selling

Post by bikechuck » Tue May 28, 2019 3:03 pm

JoeRetire wrote:
Tue May 28, 2019 2:46 pm

Every house will sell if the price is right. It's that simple.

Nope, nope, nope, not that simple.

My in-law's house sat and sat for 9 months because they were advised by their first realtor not to paint their walls or change out their ugly green 1960s carpet which I recommended they do.

After their contract with their first realtor expired they hired another who surprise surprise told them their house would not sell unless they painted their walls a neutral color and replaced their carpet. They took the house off the market for a month while doing these minimal upgrades and then relisted it at a higher price.

It sold the first weekend at the higher price.

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8foot7
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Re: House not selling

Post by 8foot7 » Tue May 28, 2019 3:08 pm

bikechuck wrote:
Tue May 28, 2019 3:03 pm
JoeRetire wrote:
Tue May 28, 2019 2:46 pm

Every house will sell if the price is right. It's that simple.
Nope, nope, nope, not that simple.

My in-law's house sat and sat for 9 months because they were advised by their first realtor not to paint their walls or change out their ugly green 1960s carpet which I recommended they do.

After their contract with their first realtor expired they hired another who surprise surprise told them their house would not sell unless they painted their walls a neutral color and replaced their carpet. They took the house off the market for a month while doing these minimal upgrades and then relisted it at a higher price.

It sold the first weekend at the higher price.
The original price was too high to deal with ugly colors and bad carpet. :moneybag

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Re: House not selling

Post by JoeRetire » Tue May 28, 2019 3:12 pm

bikechuck wrote:
Tue May 28, 2019 3:03 pm
Nope, nope, nope, not that simple.

My in-law's house sat and sat for 9 months because they were advised by their first realtor not to paint their walls or change out their ugly green 1960s carpet which I recommended they do.

After their contract with their first realtor expired they hired another who surprise surprise told them their house would not sell unless they painted their walls a neutral color and replaced their carpet. They took the house off the market for a month while doing these minimal upgrades and then relisted it at a higher price.

It sold the first weekend at the higher price.
If they had reduced the price enough, their ugly green carpeted, non-neutral walled house would have sold when first put on the market.

It's all about matching the price to the house.

cherijoh
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Re: House not selling

Post by cherijoh » Tue May 28, 2019 3:42 pm

WhyNotUs wrote:
Tue May 28, 2019 7:41 am
A few hard questions before I would make a change:
• What did we do to set the price initially? Was there a market study? Did I tell my realtor the time frame in which I expected to sell? Did they give me advice for a different price?
It may very well be that the realtor did not ask when I needed/wanted to sell my home by and did not give me an accurate price to sell it in that range. If so, then I selected the wrong realtor. If they did and I ignored it, that is my bad.

• How did we come to show it before it was ready and thus lose the first impression market?
It may be that the realtor did not point out the need to address the walls on the front end and if so, I may have the wrong realtor. If they did and I ignored it because I wanted to get it on the market ASAP and thought it would sell anyway, then my bad.

At this time, it still does not seem like you have a grasp on a realistic price for selling your home in short order. That would be my first goal.
IMO, pricing it right is one of the the primary duties/benefits of a having a good realtor. My brother and I had to sell my Mom's house after she passed away. The realtor we chose got our business because the first question he asked was whether we wanted to price it to sell quickly or whether we were willing to give it a little time to get a better price. He also cautioned us about not pricing it too high and risking it being on the market "too long". He also provided practical suggestions on what we needed to do to get it "sale ready."

This was in late spring of 2006 and the prices were already starting to soften in that market, although this realtor was the only one of the ones we interviewed to mention it. We didn't know it at the time, but if it had lingered on the market (due to poor initial pricing), we probably would have had to make even larger price reductions than normal due to futher softening of the market.

cherijoh
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Re: House not selling

Post by cherijoh » Tue May 28, 2019 4:02 pm

cosine wrote:
Tue May 28, 2019 11:00 am
Thank you all for the replies, alot of great points mentioned.

1. As far as the initial price. The attitude of the realtor seems to be very laid back. he brought some comps and recommended we price it around 415-425, i deferred to him and he said 425 would be ok.

2. He never mentioned repainting the house until we brought it up to him 1 month later. He did have some painters that he knew and we got the house painted at a reasonable price.

3. I have made my intention clear to him from day 1 that my goal was to sell the house as quickly as possible. I made it clear that i'm not looking to make any money, I just want it to be sold. 10-30 K is not worth the headache for me.

So now the question is what to do from here. Last week we spoke and decided that we would reduce the price down to 399 on Monday ( yesterday ). Well i texted him Sunday with no response. I called him monday morning and left a voicemail with no response. And now its Tuesday afternoon and still no call. Regardless of everything that has transpired over the last 3 months the one thing i find intolerable is lack of communication. I plan on seeing if he calls at all today. If he doesnt i'll call him in the morning and say, " We are unhappy with the service we have received, there has been a lack of communication and we would like to end this and find a new realtor. Of course i'll be professional but I have never fired anyone before and i'm not sure what the repercussions of this could potentially be.

I do have 2 realtors i'd like to possibly speak to after. This is just becoming one big mess. Hopefully it will end soon. If i can avoid it I will hopefully never have to move again. very frustrated. thanks for helping and listening.
"Laid back" is not the attitude that you want from the person you have hired to sell your house. That should have been the first warning sign to continue looking for an agent.

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Re: House not selling

Post by bikechuck » Tue May 28, 2019 5:26 pm

JoeRetire wrote:
Tue May 28, 2019 3:12 pm
bikechuck wrote:
Tue May 28, 2019 3:03 pm
Nope, nope, nope, not that simple.

My in-law's house sat and sat for 9 months because they were advised by their first realtor not to paint their walls or change out their ugly green 1960s carpet which I recommended they do.

After their contract with their first realtor expired they hired another who surprise surprise told them their house would not sell unless they painted their walls a neutral color and replaced their carpet. They took the house off the market for a month while doing these minimal upgrades and then relisted it at a higher price.

It sold the first weekend at the higher price.
If they had reduced the price enough, their ugly green carpeted, non-neutral walled house would have sold when first put on the market.

It's all about matching the price to the house.
Sure, but your approach would have cost them $20,000. Their problem was not the price, their problem was poor advice from an inept realtor.

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Christine_NM
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Re: House not selling

Post by Christine_NM » Tue May 28, 2019 6:08 pm

randomguy wrote:
Tue May 28, 2019 2:00 pm

Last time when you were shopping for a house, did you skip listing because they had been on the market too long?
Funny you should ask. Yes, I had a choice of two houses on a block. I bought the cheaper one, on the market for a few weeks. The other had been listed for several months, and continued to be listed off an on for the next 3 years.

I told an agent what I wanted and he gave me 3 addresses to look at, one of which I bought.. and noticed the other house for sale on the street, looked it up (forget if it was Zillow or a local site) and decided it was a somewhat worse layout for way too much money, and that was probably why it was not selling. The agent didn't mention it to me because the price was higher than my max.

Plus, it was the last house on a dead end street and looked rather forlorn. So lots of factors added up to make it not sell for years.
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Re: House not selling

Post by randomguy » Tue May 28, 2019 6:26 pm

Christine_NM wrote:
Tue May 28, 2019 6:08 pm
randomguy wrote:
Tue May 28, 2019 2:00 pm

Last time when you were shopping for a house, did you skip listing because they had been on the market too long?
Funny you should ask. Yes, I had a choice of two houses on a block. I bought the cheaper one, on the market for a few weeks. The other had been listed for several months, and continued to be listed off an on for the next 3 years.

I told an agent what I wanted and he gave me 3 addresses to look at, one of which I bought.. and noticed the other house for sale on the street, looked it up (forget if it was Zillow or a local site) and decided it was a somewhat worse layout for way too much money, and that was probably why it was not selling. The agent didn't mention it to me because the price was higher than my max.

Plus, it was the last house on a dead end street and looked rather forlorn. So lots of factors added up to make it not sell for years.
Exactly. You looked at the listing and decided it was the worse house. If everything was the same but the listing dates, I am guessing you would have bought the same house. Poorly priced houses sit but the cause is poor pricing not that they aren't fresh listings.

JoeRetire
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Re: House not selling

Post by JoeRetire » Tue May 28, 2019 6:31 pm

bikechuck wrote:
Tue May 28, 2019 5:26 pm
JoeRetire wrote:
Tue May 28, 2019 3:12 pm
bikechuck wrote:
Tue May 28, 2019 3:03 pm
Nope, nope, nope, not that simple.

My in-law's house sat and sat for 9 months because they were advised by their first realtor not to paint their walls or change out their ugly green 1960s carpet which I recommended they do.

After their contract with their first realtor expired they hired another who surprise surprise told them their house would not sell unless they painted their walls a neutral color and replaced their carpet. They took the house off the market for a month while doing these minimal upgrades and then relisted it at a higher price.

It sold the first weekend at the higher price.
If they had reduced the price enough, their ugly green carpeted, non-neutral walled house would have sold when first put on the market.

It's all about matching the price to the house.
Sure, but your approach would have cost them $20,000. Their problem was not the price, their problem was poor advice from an inept realtor.
The only thing you have to get right to sell a house is the price.
You might get more by putting more into the house, or you might not.

Sometimes it's worth hanging on to the house for longer and sometimes it's worth putting more effort and money into the house while hoping it eventually pays off. Sometimes it will pay off. Sometimes it won't.

WhyNotUs
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Re: House not selling

Post by WhyNotUs » Wed May 29, 2019 1:25 pm

A realtor who is not returning phone calls right away is in the wrong business IMO
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