Buying A Home
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Selling, Frustrated with Realtor

We just put our house on the market. The electrical needs updating, and the basement needs finishing, but the main level of the house (it's a ranch) has been recently updated & is in move-in condition. Because of the electrical and the basement, we priced pretty low, and let our realtor know what our absolute bottom line was. She said NOT to fix any of the problems, to let them come up at home inspection & negotiate with the buyer.

Now we've had a TON of showings (17 in less than a week) and two low non-negotiable offers - below our bottom line, but acceptable in a market where buyers know they can usually bid 5-10% under asking - which is why we wanted to list higher in the first place. Now our realtor says these are good offers in light of the fact that the electical needs updating and the basement needs work - um, hello, that's why we priced it where we did!

 It's super annoying that she isn's listening to our bottom line. We'd rather add an addition than sell at a loss, but were willing to make these updates BEFORE listing but based on her advice we listed lower than we wanted to. I know that this is why we've had so much traffic - because it's priced so low - and that realistically, based on the price these are good offers. But becuase our bottom line is so close to the full price, I am beginning to doubt that we'll ever get an offer where we need to sell.

We should have done the updates, priced higher, and expected a lower offer like we thought. So frustrated that I didn't listen to my insticts and blindly trusted our realtor   :(

 Sorry, vent over.

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Re: Selling, Frustrated with Realtor

  • I haven't sold a house before but I wanted to say I'm sorry your going through that. 

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  • How long is your contract with her? Do you have an out? I think my inlaws decided to take their house off the market (I mean, no one can force you to sell your house) and were out of their contract with their realtor.

    A suggestion would be to maybe ride out the contract or take the house off the market, make the repairs, or enough to at least bring up the price to what you'd need to sell it, and then relist it.

    Your realtor will probably tell you that's a bad plan because buyers will wonder why it was on then off the market, and why the price is higher. But I feel like, as a buyer, it would make a lot of sense to me. Or, maybe it's already listed as such, but you could do an as-is sale, which I think people tend to assume the price takes into consideration the issues with the house.

    Besides, the issues would come up at inspection, and then if someone decided to walk away b/c of them, you'd have to disclose to a future buyer, opening the door for them to lowball you.

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  • Find another realtor. I say this because regarless of anything else, she doesn't appear to be listening to you.
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