I need help. I have a beautiful 7 bedroom 5 bath home on 26 acres in Maine. It has been on the market for over a year with no action at all. We have dropped the price and changed realtors. I feel my realtor is not doing enough to advertise my home in the market, meaning he does not believe in advertising other than placing it on the internet. I was unaware of this when I signed the contract because I expressed my disgust with our first agent of this type of advertising. The realtor I have now assured me his marketing department would be in touch and things would get done. So 4 months into a year long contract on nothing has happened with my home except a price reduction of $50,000 because we want to sell. We are not price to high but there are no comps in our area. I want to sell so we can move out of state and we wanted to do this by this summer and I am at a lost. HELP PLEASE!!!!!!!!!!!!!
This is the type of property that is advertised in store shelf national or international print media. Some Realtors, when specialty advertising is required as in this instance, discuss an joint advertising budget with the owner as print media is very expensive.
What drew you to the property when you bought it...how did you find oiut about it.. and what kind of buyer would be interested - rancher? Ski shop..Bed and Breakfast..farm?Can the property be used for a business? Not seeing the listing or info..we can not comment really as yet.
Ask for a meeting asap, including the "owner/broker", to determine how to attract the buyers who would be interested in your property. Most listings come with penalty to withdraw. Smart not to list for so long...in future.
Have a serious discussion with your agent tell him you aren't happy. What internet advertising is he doing? What sites does he have access to in order to promote your home? Has he created a webpage for your home? Is he/she doing any print, or direct advertizing? What type of personal promotion is he doing? Does he have a network that can help promote it? (For example we have an agent who markets a ton of horse properties, she markets to the riding clubs, the trail clubs, etc while physically networking with them.) Has he done anything to determine the demographics from which your buyer will come? In our area we typically will release a seller from a contract without any penalties if they are unhappy. Sometimes the broker will try to assign another agent but if the seller says no the general feeling is it is better for everyone to just move on.
First, regroup and take emotion out of the equation. It will only make you ill and nothing will be accomplished. Secondly, your agent should provide you with status updates and feedback regularly so you should know what is being done in advertising, showings, possibilities. If this is not happening, contact the your agent's Broker for this information or direction. Your agreement is with the Broker and they are responsible for what does or does not happen. Work with them to either correct the matter or part ways.
Posts: 10 | Location: Arizona | Registered: Nov 17, 2013