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My parents have been trying to sell their house for six months. (They were suddenly and totally unexpectedly transferred to another city.) They are completely disgusted with the realtor (trust, they have REASON to be) and her contract ended yesterday.
They are hesitant to get another realtor because this one screwed them over so badly. But the house won't sell by itself and they can't afford to continue paying taxes on both houses much longer.
I've suggested putting up a For Sale By Owner sign in the yard and start putting out some ads.
None of us know anything about the actual selling of a house and we'd probably screw up royally with paperwork if we tried.
But, if we can manage to line up some buyers, would it be possible to waltz into a realtor's office and ask them to handle it AND get them to agree to a smaller percentage considering that they wouldn't have had to do any work or put any money into trying to sell it?
That aside, given the home has not sold in six months while in the MLS, what makes you believe that it will sell by owner with substantially less exposure?
There was very little exposure. The realtor did not advertise much, and when she did, the advertisements were often full of errors. I found it advertised in ONE place online. The photos were small, grainy, and didn't show any detail. And, there were only four photos. This is a BIG house--four bedroom house with den, living room, formal dining room, etc. Four small and grainy photos do not do it justice.
None of the neighbors can understand why it has not sold. It's in a NICE neighborhood. The neighbors know the house. They know its worth and none can understand this other than the fact that the realtor has NOT done much at all.
I realize that we might not be able to sell it by ourselves, but figure that it's worth a shot anyway. I just wanted to make sure there was a way to get all the paperwork done properly because there is no way we'd attempt THAT on our own.
My parents have been trying to sell their house for six months. (They were suddenly and totally unexpectedly transferred to another city.) They are completely disgusted with the realtor (trust, they have REASON to be) and her contract ended yesterday.
They are hesitant to get another realtor because this one screwed them over so badly. But the house won't sell by itself and they can't afford to continue paying taxes on both houses much longer.
I've suggested putting up a For Sale By Owner sign in the yard and start putting out some ads.
None of us know anything about the actual selling of a house and we'd probably screw up royally with paperwork if we tried.
But, if we can manage to line up some buyers, would it be possible to waltz into a realtor's office and ask them to handle it AND get them to agree to a smaller percentage considering that they wouldn't have had to do any work or put any money into trying to sell it?
It's possible, but not necessarily advisable. As you say that none of you know anything about selling a house, I'd recommend getting a QUALIFIED and COMPETENT real estate agent involved right away. HAve them create a marketing plan. When the plan is put in effect, you will get maximum exposure, which is the key to selling both quickly at at the best price.
Yes, but until we've located such a real estate agent, why not advertise? I'm not saying forget the agent and do it all ourselves....I'm saying IF we manage to find buyers before they find an agent....
I know my dad....it could take a while until he has someone.
Oh, it most certainly does! I'm not going to let them blindly trust that things will be okay. I plan to be in on the agent choosing this time around and do some checking on any agent under consideration. If they had done at least a LITTLE checking on this one, they never would have hired her.
There is a lot I plan to get in writing. Since I'm in the state again, I'll be much more helpful. Since it went so badly this time, I'll be much more insistent that things are not left to chance.
I'm already planning on taking digital photos of every room of the house, the outside from the BACKYARD (where the row upon row of windows are) and not just the front, which looks mainly like a roof and a garage. (sadly, that was the first picture in any advertising, print or web) I'm also going to keep on top of any advertising that is done, i.e., insist on seeing hard copy FIRST to check for spelling errors, factual errors, PRICE errors, etc. *shakes head* I was horrified when I first saw the ads that agent put out.
Any other suggestions on what I can do to help my parents from getting screwed over? Getting a recommendation won't fly with my parents....this one came highly recommended by a real estate agent they had used and ADORED in other city. Unfortunately, too many years had passed between when she knew this person and what this person is like nowadays. *sigh*
I rather feel sorry for any real estate agent my parents consider because I know I'm going to be a pain in the *** about checking them out.
So often sellers rely on an agent's self proclaimed and sometimes former reputation, rather than obtaining a specific marketing plan.
In situations such as this, it is common for the seller to vent about the previous agent while interviewing new agents. This then creates an opportunity for the agents under consideration to play to the first agent's weaknesses. Heck you might end up with the agent that demonstrates the most empathy rather than the one who has the best specific plan to get the house sold.
My best advise is to stifle the urge to vent and pay attention to what the agent puts forth in terms of a specific marketing plan, without prompting. Look at the quality or lack thereof of internet and other marketing associated with current and/or closed listings. In other words, pay attention to what they do, not what they say.
Thank you for that, middle-aged mom. I am going to copy and paste that in an e-mail to my parents right now. That is very good advice! I seriously want to hug you right now!
One of the ways to begin the selection process is to think like a buyer. Start looking at the marketing of other properties on the market in the area. Find out who is the Realtor marketing the homes that stand out. Those would be the agents that you would start with.
If you choose to go it without a real estate agent, then you need to locate a real estate attorney. A good real estate attorney should do more than just handle the paperwork. They should be able to advise you on the appropriate disclosures to protect your parents after the sale.
Another approach to locating a good agent is to contact closing companies in the area and ask them to recommend agents. Closing companies see the quality of the contracts that are put together by the local agents.
Also be aware that if your parents choose to market the property themselves then they will need to learn how to screen prospects before allowing them into their home. It is not unheard of for prospective buyers to be other than what they appear.
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