We are very upset to learn that our realtor is doing very little advertising for our home. No newspaper or real estate magazine ads. Stricly MLS and 200 postcards sent to our neighbors. Not suprising, we have had no inquiries about the property. She doesn't believe in open houses either, but we have convinced her to do one for us (we have to pay for our own ads for the open house). We have a very unique home, but she is not promoting that point at all. We are also in a very secluded area and can't rely on drive-by attention. Is there any way to get out of our contract? Thanks!

When you interviewed your Agent, did you ask for a written marketing plan? If not, what were you told about her marketing? Why would you trust what is probably your most valuable asset to someone who doesn't put such things in writing? Sorry if I'm sounding so hard on you, but perhaps she's a discount agent and charges for individual services. You get what you pay for in some instances. Full service agents pay for all of the marketing and follow the necessary steps to get to closing. The consumer needs to know this. Are they being deceived?

You need to talk to your agent and let her know your concerns. If she doesn't agree to the marketing that you want/need to sell your home, call her broker and let him/her know that you are unhappy. The listing agreement is between you and the broker so you will need the broker to agree to terminate the contract.

redcharm:

If you do decide to fire your agent I might be able to recommend a couple of really good realtors to you, ones that actually get out and try to sell your home! (I am a LO- not a realtor)

Kelly Hall

redcharm

Combine both what suzSNJ and OHAgent said together and that is about 100% of what about all we can tell you.

Thanks

RedCharm,
Just wondering buy what is so unique about your home compared to other homes listed in your area? Another thing to note is that if your home is Too Unique its pool of potential buyers is greatly reduced.

Your Realtor is correct in that an open house will not likely sell your home but may result in some new clients for your Realtor. I also do very little print advertising except for open houses and my new construction.

You said you have had no showings? How long has it been listed?

Usually zero showing in a reasonable amount of time means that you listing price is too high.

I am sure you agent did a CMA before listing your property giving you a range for a listing price. Where in that range did you choose?

Open houses bring buyers for the realtor. On average, they don't sell listings. I think it's something like 1%. MLS and sign calls are the advertising methods that are most successful in bringing buyers. Since your home is secluded, an open house could help generate interest, but it's not a huge factor.

I'd wonder if your home is just overpriced. Absolutely no showings or calls means no one wants it due to the location, price, and/or condition. You may need a big price adjustment for a "unique" home. If you at least had a few calls or showings, but no offers, you only need small adjustments most likely.

Get another CMA and listen to the agent on the suggested price.

The home is a handcrafted timberframe on 6 acres in a secluded, small neighborhood. There were no CMAs that matched, so pricing the home was difficult. Your replies have been most helpful.

RedCharm,
Since your agent was unable to locate good comps for the property I suggest that you hire an appraiser to do a for sale appraisal on your home.

redcharm

With the MLS going internet one must do more then just the MLS and sign calls. Find out what your agent is doing. Are they listing and enhancing your listing on the internet with pictures. If all they are doing is MLS and sign calls then you do not need them. In addition is your agent advertising the unique and desirable features of your home? Also look at the pictures and wording in the MLS and ask yourself would you respond to this add and or just skim over it. If it’s not enticing then that may be the problem as well. I have found that with the internet as we know it today one must produce excellent quality pictures and many of them. Moreover taking pictures of other then the front is very important. In addition a video tour may help. Realtor.com claims that homes with video tours get 40% more hits. The pictures are what one looks at first. If the pictures do not say anything then potential buyers just skims over them and on to the next. The pictures have to be show stoppers so to speak to get potential buyers to stop and ask for more information.

With no CMA, it sounds like the agent may have been shooting in the dark. Go with Paul's suggestion and get an appraisal. Marketing could be improved, but it sounds like we may not be able to justify the price at this point.

All an appraisal is an opinion of value. Your home is a home of distinction and needs special marketing. Sometimes the cheap way (just an MLS and sign) is not enough. This is where she may need more then the discount, inexperienced, and or cheap broker. You all talk about the discount brokers but here we have a situation in where all you all talk about is the price, MLS, and sign. Its no wondow why these discount brokers are doing so well. They give the public as much as agents calling themselves full service. So the public sees no real difference. In addition look at is anything selling in your immediate area. Plus what is the average market time for you particular area? It may just be that your location may be slow. One really needs to cover all bases.

Alan,
Fact of life in this situation. The agent failed to do a CMA so they were shooting in the dark on the list price. I agree that the property needs special marketing but you can do all the special marketing you want to but if it is seriously over priced then it is not going to sell. First thing that needs to be done is to determine an appropiate listing price. If the agent is unable to find comps to give the client an accurate price range then an appraisal needs to be done. Yes an appraisal is an opinion of value but that is what the lender will use! Gotta take care of the basics before you worry about the options!

So let me get this straight. Her agent did no CMA, only placed an ad in MLS and put up a sign. Refuses to even do an open house. I am appalled that everyone is jumping on the price. This whole thing sounds like she went to a discount broker and got what she paid for. An MLS listing and a sign. Now I am not saying the price is not the issue. What I am saying is that a seller in this position needs an experienced full service agent. One who understands the market and can give her correct intelligent advice. Her agent has not done anything not even a CMA and or marketing plan. That’s an embarrassment to this industry. Sellers look to us for advice to tell them what it takes to sell there home. If its price and there is a need for an appraisal then so be it. But that is what this seller needs. An agent that will tell her what’s wrong whether she wants to hear it or not. However I think this seller wants to hear it for that’s why she placed a post here.

Give us all a break Alan, you know the open house thing is not a relevant issue as open houses rarely sell the property that is open and is simply a tool to get us more buyers and to make the client feel good.

Here is a little reality check for you if a property is in MLS for a decent amount of time and you get zero calls or showings then price is most certainly the issue.
How can you specialty market a home when you do not know if the listing price is where it needs to be?
Yes I agree that the house needs some special marketing but that comes after the price issue is addressed. I am not disagreeing that this seller needs an experienced agent that knows how to move this type of property but I believe you are jumping to conclusions about the brokerage as you have no clue if they are a discounter or a national name.

Sounds to me like this is a newer agent that does not have the experience to market this property. I would suggest that the seller have a talk with the agents broker and discuss their concerns and then maybe the broker can give the agent some guidance on this property.

Back to the issue of whether we can "fire" our broker....Am I correct in saying the contract between the broker and the seller is, in fact, an employment contract? If we're dissatisfied with our broker's performance, do we just politely ask her to dissolve the contract (unless she agrees to improve). What would a reputable realtor do in this case? Even if she agrees to do more for us, the tension between us is, unfortunately, permanent. Not a good situation.

Redcharm
I would recommend talking with the actual broker and at least hear them out. I good experienced reputable broker may just have the right answers for you. Judging from your posts that what I think you really want. You want to know what it will take to sell your home. I do not think you really care whether this brokerage sells it or not. You want activity and want it sold. Go in with an open mind and after you have talked with the actual broker then make the design on whether you ant to proceed or not. I do not know or what brokerage you are with however just a thought the broker you are actually with may be the best in your area. In fact he/she may not even know there is a problem and or has even seen this file. If your listing is that far overpriced the actual broker would want to know why the agent even took the listing. Even though I have been in the business for over ten years my broker requires a copy of my CMA in her file. In addition the actual broker may have bear minimal as to what one can expect from their agents. So what I am saying is at least talk with the broker with an open mind. You may still move one to a new one. But I am sure that if he/she is a reputable broker he would want to know and to at least ensure it does not happen again.

Paul said
Paul what I am saying and pointing out is yes if its in the MLS for a decent amount of time and still no activity then the agent needs to do something. And something maybe something as simple as asking the seller to reduce the list price. However this particular agent did nothing. No CMA, No Marketing plan, Nodda just sigend the paperwork ,placed in MLA and Placed a sign. This seller should have heard all of what we are saying from her agent.

RedCharm,
If you wish to terminate your relationship with this agent just give their Broker a call and explain the situation.

The broker might ask if you would be willing to just work with a different agent who can better market and price your home to get it sold.

If you still wish to terminate the listing I am sure the broker will have no problems letting you out of the listing contract.

I would still recomend you get that appraisal so you know what the house is worth. Look for a brokerage that has a national presence and understands how to market unique properties. Keep in mind that unique properties often take a longer time on the market to get them sold.

Best of Luck!

Alan,
I agree that the agent should have told her all of this and really wonder why she did not. I would never price a home without a CMA and I regularly turn down listing if the seller wants to list it above market value. SOund to me like this is either a new agent or one in need of a career change!