Posted by Natalie-VA on August 09, 2005 at 16:09:47:
Brad,
No showings usually means it’s overpriced. Showings and no offers usually means overpriced and/or bad condition.
What does your flat fee full service broker say? Doesn’t sound like full service to me.
As far as the sub agency and buyer’s agent stuff, most agents don’t even understand this, so I don’t see it as an issue.
What kind of a market are you in? If you’re not in a seller’s market, and there are plenty of other properties to show, the agents may shun your listing. The reason is that even though you are in the MLS, you are still a FSBO to them, and they don’t want to deal with you if they don’t have to.
These are just some ideas to consider, but it probably comes down to price.
I have my property listed in MLS. Nobody showed up after first 2 weeks. I reduced the price by 10K in first 2 weeks.
I listed with a flat fee broker and paid 600$ upfront and still a full service listing. I have put 3% for buyer Agency only. Is that the reason not many agents won’t come to show my property. Can someone care to explain why I should Sub Agency 3% and Non-Agency 3%.
Natalie is right, first thing to do is check your price get your agent to give you the latest comps.
Secondly, discount brokers are considered to be the enemy by true full service agents. In my experience 20
% of all agents do 80% of the business, in some areas it’s even more drastic. You want the cooperation of those agents and most of them aren’t interested in helping a discount agent.
I’ve seen office managers tell their agents not to show properties listed with these people. Other managers have instructed their agents if they show these properties to be sure to get any commission savings for their buyers plus some. One way to help overcome some of this resistance is to offer e.g. 3.5 or 4% to the selling agent.
My experience tells me most discount agents need to give discounts to get business, they don’t have what it takes to play on a level playing field. Plus I have to question if they can’t negotiate a full commission how are they going to negotiate full price for my property?