Why did my realtor show other realtors our house?
We’re trying to sell our house, and it’s been on the market for about 3 weeks. We had an open house but no one placed a bid. Our realtor even suggested we lower the price by $100k, but we thought she was crazy. We thought she was going to show our house to potential buyers today but instead she showed up with 3 other realtors to look at the house. If we hired her as our realtor why is she bringing other realtors to look at the house? Is this normal?
Most real estate agents will show other real estate agent their listings this is called a caravan. The more real estate agents that know about your property for sale the better off you will be in the long run.
Your agent in this regard is doing a great job.
Now about the sale price and the reduction. This is a tremendous price reduction. When you hired your agent and signed a contract with this person, they should have had compts of the area and neighborhood of the properties that sold in the last 6 months.
Based on these compts you and your agent should have came up with a realistic sale price. It appears to me that your agent simply took a listing for the sake of taking a listing. Now this agent is doing what should have been done at the beginning, getting the proper compts and what other houses are on the market for in your area.
I can not believe that prices have dropped that drastic in the last month or so.
This agent know that you would have a hard time getting out of the contract you signed, since they are gonna say you were adamant about the sales price even though they tried to talk you out of it.
I hope this has been of some benefit to you, good luck.
"FIGHT ON"
April 7th, 2010 at 10:46 am
Very normal.
This is called this an office tour. They usually try to pick new listings or listings that could use more feedback and have them put on the office tour right after a big office meeting. This a good thing.
When you hired a Realtor generally another Realtor will bring your Realtor a buyer and there will be two Realtors working to make a deal.
References :
April 7th, 2010 at 11:36 am
it can actually be good. These other realtors have different contacts and clients. This was a way to get the word out to a larger potential buyer group. If another realtor finds a buyer, then the commission will be shared.
References :
April 7th, 2010 at 11:50 am
That is good marketing. If your house is overpriced it will not sell. How soon you need to get out of it is very important in getting it priced to sell, too. This market does not mean much of a profit as it did 2 years ago. There too many foreclosures to chose from that are half or better of their worth. If you agent suggests you need to lower the price , she is doing it to help you since it means she will make less money on it.
References :
April 7th, 2010 at 12:26 pm
Most real estate agents will show other real estate agent their listings this is called a caravan. The more real estate agents that know about your property for sale the better off you will be in the long run.
Your agent in this regard is doing a great job.
Now about the sale price and the reduction. This is a tremendous price reduction. When you hired your agent and signed a contract with this person, they should have had compts of the area and neighborhood of the properties that sold in the last 6 months.
Based on these compts you and your agent should have came up with a realistic sale price. It appears to me that your agent simply took a listing for the sake of taking a listing. Now this agent is doing what should have been done at the beginning, getting the proper compts and what other houses are on the market for in your area.
I can not believe that prices have dropped that drastic in the last month or so.
This agent know that you would have a hard time getting out of the contract you signed, since they are gonna say you were adamant about the sales price even though they tried to talk you out of it.
I hope this has been of some benefit to you, good luck.
"FIGHT ON"
References :