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Urgent advice needed on agent-what would you do ?

Discussion in 'The Buying & Selling Process' started by Agent99, 30th Aug, 2015.

  1. Agent99

    Agent99 Well-Known Member

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    Hi all house been on the market in SA for over 3 months not sold. Agent (Big firm) Agreement actually ran out on 19th August and agent emailed (no phone call) on 26th August in a panic that it needed to be signed strictly speaking before the last open which was yesterday.
    I told agent that I couldnt print because of windows update and they would possibly leave it in house for me to sign.
    I work 6 days and couldnt get there to sign however have not had update from yesterdays open (via normal text) which is unusual.
    I cant afford to sign another 90 days with these people, what if they still dont sell ?
    Do I change to 30 days and have an open agency ?? Not sure ? Where does that leave me legaly ?
    thank you
     
  2. wylie

    wylie Moderator Staff Member

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    If you are not happy with the first agent, why not sign up with someone else? I'd ask if they conducted the open and if not, why not?

    If it is just that the market is flat and you are happy otherwise, maybe sign for another 30 days only.

    I would not open list a house. Why would any agent put any time into selling knowing it could be sold from under them.
     
  3. FireDragon

    FireDragon Well-Known Member

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    Have you found out the reason why your house is not sold? Is it because:
    - the price is too high?
    - the condition of the house?
    - the listing photos are not good?
    - marketing strategy?

    It can also be the agent not competent but I think first of all you may need to find out the reason why it's not selling.
     
  4. DaveM

    DaveM Adelaide Buyers Agent & KFC Strategist Business Member

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    Where abouts in SA, what features and price? How does this compare to others on market?

    Has there been any offers or price feedback from people at opens?
     
  5. Agent99

    Agent99 Well-Known Member

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    Thank you great advice as always.
    We are looking for $500k with similar properties selling recently for $515, $525, $535 and is larger house. Maybe I need to sit down with the agent and try a different strategy.
    Didnt really want to drop too much in price as with holding costs and agent fees will only receive about $480k
     
  6. DaveM

    DaveM Adelaide Buyers Agent & KFC Strategist Business Member

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    Post a link and see what we can suggest
     
    Esh likes this.
  7. wylie

    wylie Moderator Staff Member

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    I'd get in one of the agents who sold similar houses for higher and ask their opinion. Your sole agency has run out, so there should be nothing to stop you shopping around if you are not happy and find an agent who might do better.
     
    Westminster likes this.
  8. Agent99

    Agent99 Well-Known Member

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    What do most agents do in terms of keeping you up to date ?
    Do they just send of a 3 sentence text or do they meet and greet and run through what is happening etc ?
     
  9. Agent99

    Agent99 Well-Known Member

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  10. DaveM

    DaveM Adelaide Buyers Agent & KFC Strategist Business Member

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    Why is there no price on it? "Contact agent" usually means its so overpriced the agent is too afraid to list it.
     
    Jye likes this.
  11. herenow

    herenow Well-Known Member

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    Yep, I hate listings with no price range. I think they tend to put people off. The price range should be displayed to give people an indication if what you're looking for.

    Personally, I'd go with another agent, one of the ones that achieved a good price in your area. I'm hoping you don't have to pay anything to the current crowd?
     
  12. wylie

    wylie Moderator Staff Member

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    I'm with DaveM on the lack of price. That is a HUGE turn off and needs to be changed. I would list it at a price a little higher than you expect. Everybody will offer less anyway. I think the photos and listing look pretty good, so maybe the agent has just lost interest.

    I'd change agents.
     
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  13. Agent99

    Agent99 Well-Known Member

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    Yeah must admit I dont like "contact agent" either, hard to no if its in your price range.
     
  14. Agent99

    Agent99 Well-Known Member

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    I will have a chat tomorrow with agent and maybe give them 30 days, put price on ad, look at any other strategy we could do ?
    One open a week doesnt seem enough however I guess if interest isnt there then only 1 open ?
     
  15. Azazel

    Azazel Well-Known Member

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    Agreed, I generally don't bother with listings that don't have the price.
    You might be missing a few potential buyers there.
     
  16. JacM

    JacM VIC Buyer's Agent Business Member

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    I agree. Neither the address nor the price should be a national secret. You're trying to sell the place... you're not trying to keep it a secret.
     
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  17. Big Will

    Big Will Well-Known Member

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    I agree but what about 400,000+ for auction and it sells for 550,000 really doesn't benefit anyone if the price is way out of where FMV is near.
     
  18. Big Will

    Big Will Well-Known Member

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    Don't know if it is just my gripe but I really dislike '500k' as a price, I prefer $500,000 as formal advertisement.
     
  19. Agent99

    Agent99 Well-Known Member

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    Thank you all for your help
     
  20. Esh

    Esh Well-Known Member

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    Ask the agents who sold for higher prices if they have any buyers ready to buy that had missed out on their previous properties. Also, just saying, I dont know why there are 3 photos of the front of the house