I listed my property 30 days ago-an 1,850 sq. ft townhome. Similar ones have sold in the past for up to 253,000 (an end unit-mine is not). They have sold anywheres from 8 days to 180 days. Within the past month there were 2 end units-one with a garage and one without (the exact same size as ours but an end unit) One was listed for 25,000 more than ours and the other 30,000 more. We have lowered ours twice because we thought it was overpriced given the market and we've had less activity since lowering it.
We stupidly signed a contract for 90 days and are completing dissatisfied with our agent's competency. The fact that we've lowered it twice and the 2 have sold higher than any other unit has sold in the past concerns me. In addition a new roof was added which we are paying for. The one end unit did not disclose on the disclosure future roof replacement. Is this something that should have been disclosed?
My question is whether there is any way out of the contract for the next 60 days????

Susan
I am not defending your agent. However you are not giving me enough information. First you say there was two units sold in the last 30 days. However you did not tell us how long they were on the market. For example if it took those agents 110 days to sell to expect your agent to do tht in less then 30 days is a bit unfair. Also have you had showings. If the same buyer saw your home and decided they want the other home that not your agents fault. Or if you are getting showing and the buyer are not offering then also that may not be the agents fault. Also did you sign with a discount broker. If so then you pretty much got what you are paying for. Its a little unfair to aks a discount broker for the same services and marketing of a full service full marketing broker.
The bottom line is that you may have been right all along in that due to a change in the market your property was overpriced. And due to your market it still may be. You might have missed the market by 30 days.
In answer to your question read your listing agreement. Is there a provision to cancell the contract. If so then follow that. While you are reading your listing agreement what was promissed. If the agent/broker delievered what was promissed then I see no real reason why you should be let out.

THE BOTTOM LINE IS I AM NOT AGAINST YOU ONLY POINTING OUT YOU NEED TO PROVIDE MORE INFORMATION.

First, 30 days on market is not bad, when you have already stated that 8-180 is normal in your market. If you were counting on the 8-day end, no wonder you are disappointed. Surely, the possibility--actually, the liklihood--of making double mortgage payments must have occurred to you when you bought the second home before the first one sold. The fact that you have had the former home listed for 30 days and you seem to be in the new one seems to indicate that you may have signed a purchase agreement before signing a listing agreement.

Second, signing a 90 day agreement is not stupid. If you are only willing to sign, say a 30 day agreement, any agent is going to be reluctant to pay for advertising and marketing items such as a virtual tour which would barely hit the market before the listing is up.

Having accounted for end vs. internal, are you sure that all other things were equal? Specifically, I mean the amenities inside and the overall presentation of your unit? You may need to hire a professional home stager to get your home tip-top "show ready."

Are you saying that your agent is incompetent because the unit has not sold, or do you have specific complaints beyond that? Assuming your home has been placed in MLS and other standard measures for your market have been taken, the reason your home has not sold is either the market or the home itself--not the individual agent.

Unless the market is soft, when a home has not sold during the normal marketing time, something else is going on. It may be something that you are not telling us or that you don't even know. For instance, making the home available for showing only after 24-hour notice will make a huge difference in days on market.

All that having been said, let me repeat that failure to sell a home in 30 days does not equal incompetence.