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there was water seeping into my closet from the (i guess) pool pump. I notified management of the problem from day one
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laurie | Can you fire your realtor that you listed your home with ? |
We signed a contract with a realtor who also happens to be a friend of mine . Its been about 3 months and he hasn't mentioned anything about renewing the contract so I'm assuming it's a 6 month contract . He is horrible though . He won't return phone calls and we're only averages one showing or two ever two weeks . I'd like to find out if there is a diplomatic way to get rid of this guy and find someone else without causing hard feelings . I don't even know if it's possible to get out of a contract that you've signed . I do realize that home sales are at an all time low , but we do have a nice home in a desirable location . It is tastefully decorated and I have rid each room of clutter and unecessary junk . Any advice would be greatly appreciated . |
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jbarelli
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I see one real issue here and a few possible issues.
Not returning phone calls is a real issue. Of course, I have had clients that believed that I should drop everything and answer calls immediately. Sometimes that's not practical, as most of us have more than one client, but if you can't get a return call within 24 hours, you have a problem.
Most listing agents don't do a lot of showings. The listing agent's job is to market the property.
Have you seen the listing? Does it look good? Are there lots of pictures, and perhaps even a virtual tour? Is the agent holding broker's tours?
Good color flyers? A home book with information available for buyers?
Most agents don't do all of the above, and some do a few things not on the list, but the basic idea is "is your agent marketing the property?"
If the answer is "yes", then the agent has done all he can. It's time to look at other factors such as price.
If the answer is "no, he just put up a sign and put the listing in the MLS" then it may be time to talk to your agent and his broker.
The broker is the person that has the authority to release the listing. Just "tell him you don't want to sell" won't cut it. Be honest with the broker and explain your dissatisfaction, and ask the broker to release the listing. Most will, as working with an unhappy client is generally a waste of resources. Better to have a friendly parting.
But in a lot of areas, one or two showings a week is doing pretty well these days, especially for a property that has been on the market for a month or more. Buyers are scarce, and this is generally the slowest time of the year. We all got just a bit spoiled over the last few years when we had a seller's market.
In my area, I see properties averaging over six months on the market. I work as a buyer's agent, and my clients are taking more time and being far more particular about the houses they view.
You can certainly find an agent that will promise fast results and instant sales. Talk is cheap. |
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Serge M
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The realtor is not your employee so you cannot fire him. You can, of course, stop doing business with him. However, you signed a contract that may be binding for a specific time period. Read the contract and find out what it says. Does the contract have a clause allowing you to take the house off the market before the term of the contract expires? If, so you can tell him that you decided not to sell at this time. There does not seem to be enough interest currently and you prefer to wait until the market improves when you can ask a higher price.
If the contract does not allow you to cancel it, your only recourse is to wait until it expires.
Is the house included in a multiple listing service? If it is, it can be sold by any realtor, not just the one you signed with. It may be that your realtor is working hard to sell your house but the market happens to be bad right now and he may not have clients who are looking for your type of property. If your home is especially attractive and priced favorably, it should attract other realtors' clients, but from what you say, this does not seem to be the case. So the problem may be your home, its location, your asking price, or the state of the economy. One showing a week may be a good average in today's market. |
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Rick B
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Well, keep in mind that your house is going to seel to someone with a buyers agent. It would be very very rare for your selling agent to bring you a buyer. It is very rare for a realtor to represent both the buyer and the seller. It can be done if both parties agree.
With that in mind, he can't do a lot to increaswe traffic. Things he CAN do include offering a bonus to the buyers agent (which you could suggest as you will be the one actually paying that bonus) and/or holding public or realtor open houses. |
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Schmoke and a pancake?
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Read your listing agreement carefully. If your friend/agent has been so lackadaisical so far, he may be the same way about your agreement expiring--it may be expiring soon, but he just hasn't done anything about it. If you don't mutually agree to enter another listing agreement, this one will expire automatically and you will be done with him.
The agreement I have with my realtor also states that either party can cancel the agreement on 30 days written notice, as long as the realtor has not found a party who is purchasng the property. Look for language like that in your contract. If you can do that, write him a letter explaining that you are terminating his services with you on a date thirty days from the date of the letter and explain why. Unless he can procure a buyer for you in that time--which would also solve your problem--you are off the hook and can retain another realtor.
The market is bad for sellers all over. Where I live, all you see is for-sale signs and new condos and such being built. It is clearly a buyer's market. But my realtor had approximately 10-15 showings each month the property was on the market. He called with updates on his own; even if it was to say nothing's really happening. All my calls were returned within a few hours, even after hours and on weekends.
Sometimes when we hire our friends, they feel that we will be more understanding if they work less diligently than they would for an unknown client. For this reason, I try not to hire my friends. I know I disappointed a few people in the real estate game when I didn;t hire them, but our friendships are intact and I am happy with the job that was done. |
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Expert Realtor
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Did you READ the contract?
Most states require that real estate listing contracts must have an end date and also stipulate that they cannot be automatically renewed.
Most Realtors are willing to terminate a listing contract on demand, however, unless you sign a new contract with a new Realtor, the first Realtor will still be due a commission of your property sells to someone that previously viewed it. |
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NA
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That's the same common problem that arises when you hire a Realtor that is your friend, too. Two things can happen, you became irritated at him, or he sells the property, you aren't happy with his services. Now, ask yourself. how valuable is his friendship to me? second, get a copy of the listing contract. That way you'll know when it expires, or if you can cancel right away. Another, thing, real estate market is slowing down everywhere. Besides that mortgage companies are getting more picky about buyers, specially first time buyers with 0 down. In many states, those loan are gone, or they are so few banks still lending, but with many requirements. That makes so difficult to get a home sold. So be patience and have a sincere an open talk with your Realtor. If his answers doesn't satisfies you, then is time to get rid of him. |
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MissV
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First, ask for a copy of the contract so that you will know how long it is. Not returning phone calls is just plain rude. Realize that the wording of your contract may state that if any if your home is sold 30-60 days after you end your contract with the Realtor, and it can be shown to be a result of that Realtor's efforts, that you may have to pay him. |
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stevemincer
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umm...you signed a contract, but you don't know how long it was for?
duh. |
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Terry S
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Getting out of this contract is very simple.
Call the DESIGNATED BROKER in his office and tell him you want to cancel the contract. Your contract is with the company your friend works for not with the friend.
There really is no polite way to say "You Suck"
Hope this helps.
Terry S.
http://www.Welcome2Arizona.com |
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mophead1985
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If the person is a friend that was your first mistake your second is not knowing the terms of the contract. I would tell your friend/realtor that you no longer want your house on the market. Then wait about a week and find a better one. Conduct interviews with realtors while you are waiting for the week to pass. |
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adnil
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is there a problem in hiring an independent broker not affiliated with a larger firm?
this would be for a short sale. |
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