Dawn Isenhower

The more that I speak with homeowners of expired listings who are trying to decide what their next step will be, the less I am confused about why good homes aren’t selling. What I have discovered is that, in many cases, it is not the price, nor the condition of the home; instead, it is the lack of marketing and communication on part of the realtor involved. People who are trying to sell in today’s market are prepared for the fact that the value of their home is lower than what they paid a few years ago, but I feel that there are some realtors out there who are not doing their part in getting the homes sold.

When a home does not sell, the blame usually falls on the seller due to the price or the condition of the home. Let’s face it- both are critical in the current real-estate climate. People can find a comparable home for less if a particular home is the most expensive in the price range. Also, buyers do not have to settle for a home that is even just in need of a little cosmetic work. “Move-in condition” in this market means that the home is in perfect or near-perfect condition.

In conversations that I am having with owners of expired listings, I am finding that they assign equal blame to the realtor and to their home. However, when I ask what the realtor did to market the home, I hear the following: “She did three open houses to which no one came.” “He brought other agents through the home one morning.” “She had a luncheon and about 20 other agents showed up.” These statements often lead me to ask if the neighbors or target groups were invited to the open house. If “Just Listed” postcards were sent out to the neighborhood or to target groups. If e-marketing was used to publicize the sale of the home. On how many websites was the home listed? Was other technology used such as a virtual tour? Very often, the answer is that maybe one of those marketing strategies was used, or none at all.

Contrary to what most discount brokers will tell you, it takes more than a sign in the yard and a presence on MLS to get a home sold in this market. Agents can no longer put the sign in the yard and wait for the phone to ring. Maybe that could happen 3 to 5 years ago, but is it a poor way to try to sell a home now. Agents have a responsibility to perform their fiduciary duty to their sellers. It is a team effort. Sellers need to be responsible for being reasonable about the price and maintaining or improving the condition of the home. However, agents need to be actively marketing the property using all of the tools and resources available to them. As a Coldwell Banker West Shell agent, it would be ridiculous not to use the resources and technology that have been handed to me.

Agents also need to communicate with their sellers. A seller should not only hear from their agent when there is a showing or showing feedback. An agent should be doing something every day to get the property sold. Once the agent has executed various marketing strategies, they should communicate to the seller what they have done on a weekly basis at the very least. If you, as a seller, are not in regular contact with your agent, you need to find an agent who is willing to communicate with you and to market your home aggressively. You literally cannot afford to be in a relationship with a realtor for 6 months who is not actively marketing your home.

Over the weekend, my sister told me that one of her co-workers has not heard from her agent in months. The home has been on the market for 1 year already. The co-worker just blames the market and goes active with the same agent every time that the home expires. My sister, being very wise, told her co-worker, “You need to fire that agent and find one who will try to sell your house.” I couldn’t have said it better myself.