We have been working with a real estate agent for 4 months. Our listing agreement was for 3 months and we relisted for another 3. During that time we have dropped the price 3 times and now after we renewed with them they are strongly recommending that we drop the price drastically .We suggested that they lower the commission, and we will give them an exclusive right to sell at much lower price. The realty management is discouraging the agent from doing an exclusive listing at a lower commission, and a much lower selling price. They are ,in effect, forcing us to keep the price high. They want us to reduce the price drastically, but not reduce the commission. They are not flexible. The price they are asking us to drop it to we feel is totally unreasonable. A home next door sold for $ 50,000 more than they want us to list for. This was only 2 months ago! Our homes and properties are comparable. We feel they are not working in our best interest.
We are not happy campers; and want out
2006-12-11 13:51:05 · 3 answers · asked by ursaitaliano70 7 in Politics & Government ➔ Law & Ethics
unless you have a static commission schedule i.e. a fixed dollar amount rather than a percentage, the commission charge by the agent would go down as you lowered your price. Let the contract expire and sell the house yourself or with another agency. make sure that you have all of your concerns addressed up front. you may not get to break the current contract without incurring legal fees, and a judge may still grant the agent something. obviously after going to court, the agent is not going to be motivated to sell your house. the judgement may be for time put into the selling of your house. FIND ANOTHER AGENT!
Good luck to you.
2006-12-11 14:00:40 · answer #1 · answered by Hushyanoize 5 · 0⤊ 0⤋
The real estate agent has a responsibility to advise you on the best way to sell your home. If the market requires a drop in price it may be. The agent has to bring you every offer made on the property, even if someone offers 1.00
You are obligated to the contract you signed. Unless laws are broked, or he has abonded you as an agent.
What I would do. Contact the Broker of the Agent. This is the person that holds responsibility over all the agents. Tell him your frustrations. I am sure he would be willing to research your property and see if what the agent is telling you is fair regarding your situation. If the broker finds that his agent isn't doing the job as good as possible, he will probably be willing to find a new agent within his office to carry out the remainder of your contract.
Try zillow.com and see what it gives you for a home value. Again zillow a lot of the time in inacurrate, but it should give you a good estimate. Contact a local appraiser and have them give you an estimate value and in turn, you will reccomend the buyer to use their appraisal service during the purchase since that appraiser has already done the homework on the property to value it.
Good Luck
2006-12-11 13:58:37 · answer #2 · answered by Anonymous · 0⤊ 0⤋
after 3 months you should not have re-listed with that agency.
just bear through it and don't even attempt to sell at any reduced price.
get another agency lined up..
surely you are multi=agency listed any way with this agent..
any realty can show it?
2006-12-11 13:56:51 · answer #3 · answered by cork 7 · 0⤊ 0⤋