Realtors? Grrr.

[Cudedog]

I have spent the summer painting and refurbing my house to get it ready for sale. A couple of months ago (late June) I "interviewed" three different realtors to get a feel of how I might like working with them.

*Aside: I am of the opinion - right or wrong - that a realtor is a professional marketer that I hire to do a "job" for me. If this "job" goes to completion, the realtor will be paid handsomely for doing this "job".

This is the reason for the interviews. It is a business arrangement, and I want to find the person best qualified to do the work.

Over the course of the summer, as I was working on the house, I developed some rapport with, let's say, Realtor #1. At the beginning, he supplied me with "comps" and a suggested potential sales price. This was good.

He also offered to personally physically help me with the work, and even suggested that he might be able to advance me some few thousand dollars for materials in order to complete the work, this money to be repaid at the time of sale (I assumed this would entail a second trust deed on my house, but I didn't ask). This seemed generous, but I declined both, because I did not want him to have any financial attachment to me or my property (aside from a listing), and also I could imagine the problems that might ensue should my house not sell (the house is very old, in a rural area, so who knows?). This kind of set off a few alarm bells. But that is just me.

As the summer went on, we had frequent email contact and I pretty much decided that he was the guy. He frequently encouraged me to get the house on the market asap, and I would tell him that I was going as fast as I can.

Finally, last week (Tuesday, September 19), I completed all of the work that I intended to do and invited him over to see what had been done. He seemed to like it. He brought papers that he wanted me to sign, but I never sign anything until I have read everything. Reading the small print on California real estate contracts is a chore, and can take hours. I told him that I would get back to him in a day or so if I had questions, then I would sign.

I also asked him for another pricing estimate, this time asking for what he thought might be current market price, and also a lower price that he thought might garner a quick sale. Since it had been three months since his first quote, for market price, I wanted to make sure nothing had changed. He didn't seem to be happy with this request, and stated that things hadn't changed much in three months. I stated that I would really like to see the numbers, and he reluctantly agreed. The first pricing estimate he had given me was for market price.

On Thursday I emailed to say that I had a few questions on the listing contract, and would like to meet with him, and again requested pricing figures.

As of this morning, September 23, I have heard exactly nothing back from this guy. A friend said that I should call him to find out what is up (previously he would respond to my emails within a few hours), but I don't really want to do that. To me, I am the employer here and don't feel I should be chasing this guy down. He either wants the job or he doesn't.

Since I have very limited (basically zip) experience in dealing with realtors, and with the selling of property, and know that many of you ladies have bought and sold your homes and real estate in the past, I thought I would ask what you think.

There is another lady realtor that I liked about as well as this guy, and I am just about ready to telephone her. My friend says to wait and find out what the hold-up is, and why I have not heard from him.

So. Ladies. What do you think? Should I chase this guy down, or should I just call Realtor #2? I would like to get the house sold before the rainy season starts here.

Thanks.

Ann

[Bethers]

Do not chase him down. Go ahead and call the other realtor. Ask her to do new comps. Etc. Don't sign with either until she has a chance to follow through.

When I sold my last house, I asked each realtor for length of time on the market for their last several listings. I chose a realtor who recommended a lower asking price but had the better track record selling timely. I sold in 2 weeks. I know I "might" have gotten a small amount more, but the cost of owning several months more far outweighed the lower selling price.

No, I'm not saying to let someone lowball, but look at the comparisons they provide and the numbers and decide for yourself.

By the way, I probably would have run from the guy after he tried to give you money and help... That's a big red flag. There are ways realtors can help, but the way you described that was shaky at best to me.

[Rufflesgurl]

Ann - Sounds like you are ready to go. Seems maybe the first guy doesn't want the job if he can't get back to you in a timely manner. I would probably call the lady you interviewed. Business is business. I have even negotiated on commission fees. Today some realtors will have all the work done that is necessary to prepare for market and take care of staging also. Good luck - this is such a huge project.

Linda

[Liz]

What Beth said makes sense to me.

[JudyJB]

I was happy when I sold my condo to use a lady realtor who I had sat next to in an IT office for over two years. She had left development and decided to become a realtor. I felt I knew her well, and what kind of a person she was, and she was really honest with me. It was a very good experience, and I sold my condo in less than a week.

However, I had two previous bad experiences selling my mother's home and another home of mine. In both cases, which took place four years apart, the realtors gave me high estimates of the sale prices and went through each house "oohing and aahing" about how lovely the homes were and how fast they would sell. I was their best friend; at least until I signed contracts. Then I hardly ever saw them. They got half the commission for just signing me up, so really were not concerned about who actually sold the house. And after a couple of weeks of the homes not selling, they called me very quickly to suggest I lower the price because, after all, how could I expect the homes to sell for such a high price!! In both instances, I found myself being pressured to lower prices fast--I assume so they could get a fast sale and get their commission. In other words, it was like dealing with an RV salesman.

One thing about setting a selling price is to make sure you know the current city or township appraised value. When I sold my condo, it ended up selling above the appraised value because that was when the economy was recovering and homes that had dropped in price were finally getting some of the lost value back. That can sometimes cause problems with a buyer getting a mortgage, but the realtor ended up going back and getting recent similar sales and it went through.

I also would skip the first realtor and go back to the other two, and even maybe interview a fourth person. ANd I agree with Beth's advice about questions to ask.

[Azusateach]

Ann, I sent you a PM.

Laura