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Started By
Message
Are realtor listing agreements binding or can we discontinue somehow?
Posted on 10/24/17 at 2:00 pm
Posted on 10/24/17 at 2:00 pm
Disclaimer: This is NOT a thread to say how you think realtors are a waste of money, or how its simple to sell a house on your own. We live in another city and it woukd be impossible to show the home at any time when we are well over an hour away from other home.
So back to the question..., we listed our home with another city on May 28 with a realtor who came recommended by some others. (Yes we made the mistake of not interviewing other realtors. We saw past performance and felt that was good). Anyway, we have ONLY had showings bc of other realtor requests. As in this realtor has yet to set up one single person for a showing of the home. We’ve had a few open houses and I will admit that there’s been some bad luck as multiple times there ended up being bad weather in the area so I wont hold that against them.
We have been out of the home since mid July and I am not exaggerating when I say that the home remained spotless in June through mid July while we were there. So its def not a case of the home not showing well. We also do regular cleaning and the yard has been kept up very well.
So its obvious we need another realtor who actually does this full time and actively brings clients to the table. I know the home cant be listed by two different agents at the same time, but is there a way to break the listing agreement prior to the six months being up? In my opinion this person has not brought anything to the table and I feel it gives a bad impression to have a home listed for a long time.
Any help would be appreciated.
So back to the question..., we listed our home with another city on May 28 with a realtor who came recommended by some others. (Yes we made the mistake of not interviewing other realtors. We saw past performance and felt that was good). Anyway, we have ONLY had showings bc of other realtor requests. As in this realtor has yet to set up one single person for a showing of the home. We’ve had a few open houses and I will admit that there’s been some bad luck as multiple times there ended up being bad weather in the area so I wont hold that against them.
We have been out of the home since mid July and I am not exaggerating when I say that the home remained spotless in June through mid July while we were there. So its def not a case of the home not showing well. We also do regular cleaning and the yard has been kept up very well.
So its obvious we need another realtor who actually does this full time and actively brings clients to the table. I know the home cant be listed by two different agents at the same time, but is there a way to break the listing agreement prior to the six months being up? In my opinion this person has not brought anything to the table and I feel it gives a bad impression to have a home listed for a long time.
Any help would be appreciated.
21
Posted on 10/24/17 at 2:01 pm to JOHNN
what does your contract say? 6 months?
Posted on 10/24/17 at 2:02 pm to JOHNN
Realtors are such a waste of money..it's so easy to sell a house on your own these days
Posted on 10/24/17 at 2:02 pm to JOHNN
yes you can fire your agent at any time.
Posted on 10/24/17 at 2:03 pm to JOHNN
dude, it is so easy to sell your house yourself
using a realtor is such a waste of money
using a realtor is such a waste of money
Posted on 10/24/17 at 2:03 pm to JOHNN
Should have sold it on your own
Posted on 10/24/17 at 2:03 pm to JOHNN
Just cut them loose, no penalties
Posted on 10/24/17 at 2:05 pm to JOHNN
Start shopping other realtors now. I had a similar situation about 8 years ago. I got another agent, and the house sold in 2 months.
Posted on 10/24/17 at 2:06 pm to CoachChappy
They are binding
Posted on 10/24/17 at 2:08 pm to JOHNN
Check your listing agreement for a termination clause.
This post was edited on 10/24/17 at 2:09 pm
Posted on 10/24/17 at 2:09 pm to tiddlesmcdiddles
quote:
yes you can fire your agent at any time
This. I've done it a few times. Tried listing a townhouse with the agent that had the listing when we bought it. No luck. 6 months later, we listed it again with a different group. No luck. Finally found a winner and the house sold in 2 weeks.
Honestly, if there hasn't been a ton of activity after a month, take it off the market and wait 3 months to list again. Obviously not in your case since it is vacant and you're not living there. But in general, talking with many realtors, they are hesitant to even show a house that has been on the market more than a month. They feel like if there hasn't been an offer by then, the house needs work. Could be something simple like fresh paint or cleaning up the yard and beds. Could be price. But I ended up selling the townhouse for what I originally listed it for, all because the agent was proactive and didn't just slap a sign in the yard and list it on the MLS.
ETA: from what my realtor told me, the 2-3 months off the market is the sweet spot. They can tell people that the feedback was that the house needed XYZ and the owners took it off the market while those repairs/improvements were being made.
This post was edited on 10/24/17 at 2:11 pm
Posted on 10/24/17 at 2:11 pm to JOHNN
Typically they are binding unless you hire another agent. Then your current agreement is void. If you just fire them and decide to sell it yourself, the agent would be entitled to commission if sold within a certain # of days listed in agreement.
Also, dual agency isn’t even legal in all states. The majority of deals are made with 2 separate agents.....you shouldn’t judge an agent on how many clients they personally have interested in your house....that’s really an unfair assessment.
If the agent is marketing the house correctly and working the showings agents, then they are doing their jobs. Perhaps the house is priced too high or may not be quite as desirable as you think.
Also, dual agency isn’t even legal in all states. The majority of deals are made with 2 separate agents.....you shouldn’t judge an agent on how many clients they personally have interested in your house....that’s really an unfair assessment.
If the agent is marketing the house correctly and working the showings agents, then they are doing their jobs. Perhaps the house is priced too high or may not be quite as desirable as you think.
This post was edited on 10/24/17 at 2:14 pm
Posted on 10/24/17 at 2:16 pm to Jizzamo311
Everything is on line for buyers to search.
If it is priced right, and a good property, it will sell regardless of how bad/good the listing agent is.
If it is priced right, and a good property, it will sell regardless of how bad/good the listing agent is.
Posted on 10/24/17 at 2:43 pm to Jizzamo311
We have dropped the price 4 times now in order to try to get out from it. The home is only 6 years old and has been well maintained.
I understand that most homes are sold with two different agents. But my main issue is that this agent has no clients. Hell two of the showings were from random people I overheard talking in stores about possibly moving and convinced them to look at the house. I know every house isnt perfect for everyone, We've had alot of showings since its been listed and every single feedback form we got from agents says its priced very well and shows well also.
As working the showing agents, I definitely feel thisbisnt being done. Hell just today I asked our agent if they have heard from another agent who had clients try to make a deal on another home with our exact floor plan. The response was that they never heard back so its probably a no go. I had to hint at the fact they should contact that agent again to try to capitalize on buyers while they are in buying mentality. If I wouldnt have said anything, the agent would've never tried to push it. Thats the kind of shite that aggravates me as it seems like that would be common sense
I understand that most homes are sold with two different agents. But my main issue is that this agent has no clients. Hell two of the showings were from random people I overheard talking in stores about possibly moving and convinced them to look at the house. I know every house isnt perfect for everyone, We've had alot of showings since its been listed and every single feedback form we got from agents says its priced very well and shows well also.
As working the showing agents, I definitely feel thisbisnt being done. Hell just today I asked our agent if they have heard from another agent who had clients try to make a deal on another home with our exact floor plan. The response was that they never heard back so its probably a no go. I had to hint at the fact they should contact that agent again to try to capitalize on buyers while they are in buying mentality. If I wouldnt have said anything, the agent would've never tried to push it. Thats the kind of shite that aggravates me as it seems like that would be common sense
Posted on 10/24/17 at 3:01 pm to JOHNN
Any idea of what type of marketing the agent is doing?? And I don’t count Open Houses...that’s typically a ploy to get new clients and show the homeowner that you’re “working” for them.
Obviously if the agent isn’t constantly staying in contact with the showing agents, then that’s a problem.
Also, if there are other homes similar to yours (you ref someone buying the same floor plan), then it could just be a surplus of homes. Are you in an area that also has New Construction nearby??
An Agent cannot dictate the market, nor force anyone to buy the home.
Obviously if the agent isn’t constantly staying in contact with the showing agents, then that’s a problem.
Also, if there are other homes similar to yours (you ref someone buying the same floor plan), then it could just be a surplus of homes. Are you in an area that also has New Construction nearby??
An Agent cannot dictate the market, nor force anyone to buy the home.
Posted on 10/24/17 at 3:23 pm to Jizzamo311
We are having a similar issue selling our house. House is only 7 years old, priced accordingly, but getting very few showings and zero interest.
Here is what I determined as the main reasons:
1. Location, People are trying to get out of Caddo. (just like us)
2. Over-saturation: Up here in NWLA they keep building new subdivisions left and right. A couple can buy a new construction for close to the same price they can purchase our home.
3. Schools: Schools up here in Caddo keep deteriorating leading to #1.
4. Taxes: Property taxes in surrounding parishes are lowest. Meaning for the same monthly mortgage you can afford a bigger home.
5. Jobs: job market up here SUCKS.
Not much an agent can do about any of those issues. What I get irritated about is the Showings Agents. They show the house, but then leave little to know feedback. Several times our agent has had to track the Showing Agent for a little feedback.
But I think the biggest issue is the massive amount of new Construction going on everywhere.
Good Luck
Here is what I determined as the main reasons:
1. Location, People are trying to get out of Caddo. (just like us)
2. Over-saturation: Up here in NWLA they keep building new subdivisions left and right. A couple can buy a new construction for close to the same price they can purchase our home.
3. Schools: Schools up here in Caddo keep deteriorating leading to #1.
4. Taxes: Property taxes in surrounding parishes are lowest. Meaning for the same monthly mortgage you can afford a bigger home.
5. Jobs: job market up here SUCKS.
Not much an agent can do about any of those issues. What I get irritated about is the Showings Agents. They show the house, but then leave little to know feedback. Several times our agent has had to track the Showing Agent for a little feedback.
But I think the biggest issue is the massive amount of new Construction going on everywhere.
Good Luck
Posted on 10/24/17 at 3:34 pm to JOHNN
We are kind of going through the same thing. Our house went under a predicated contract in about a week. However, it is still active and if someone makes a different offer we want to accept (non-predicated) we can take it after 3-days. We've had quite a few showings, but our actual agent hasn't brought anyone.
It could be that the clientele he/she normally handles higher end or even lower end properties than mine. Or maybe she sucks, which I don't think is the cases based on past reviews.
I think it's all just a luck thing for the most part- right people, right place, right time.
Good luck.
It could be that the clientele he/she normally handles higher end or even lower end properties than mine. Or maybe she sucks, which I don't think is the cases based on past reviews.
I think it's all just a luck thing for the most part- right people, right place, right time.
Good luck.
Posted on 10/24/17 at 3:45 pm to Bumble Bee
quote:
A couple can buy a new construction for close to the same price they can purchase our home.
lower the price $10K below new ones.
You are welcome.
Posted on 10/24/17 at 3:45 pm to Jj283
Here is another thing I failed to add. When we signed our contract, we had to sign an authorization for our agent to also serve as a buyers agent as well.
She mentioned that the State was trying to ban this practice and believes it will be banned sooner or later.
As a buyer, I would NOT use the same agent as the seller's agent due to a conflict of interest.
She mentioned that the State was trying to ban this practice and believes it will be banned sooner or later.
As a buyer, I would NOT use the same agent as the seller's agent due to a conflict of interest.
Posted on 10/24/17 at 3:49 pm to Bumble Bee
quote:
As a buyer, I would NOT use the same agent as the seller's agent due to a conflict of interest.
hate to break it to you, the realtors all have the same interest and that is a transaction!
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