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Emma Amiad answers questions from customers and island residents on a weekly basis. Check online or in the Vashon Beachcomber to catch Emma's latest answers. Also feel free to contact Emma directly via email to ask her a question of your own.

Friday, August 08, 2008

Q: We’ve had our place on the market for almost two years!

We just got rid of the third agent that we’ve listed with. Is there anyone you recommend that can get this place sold? Is it just a slow market or what? We can’t believe there are so many dumb agents on the Island.

A:
Since you are not in a current contract with any agent, which would mean I can’t interfere with your listing or give you my opinion of price, I can say that the problem is not with your agent. You home has been very over priced for those two years. If you had been more reasonable, you would have sold long ago and could have moved on with your life.

Often sellers simply set a price that looks good to them without ever checking on the comparable sales or the current competition. They don’t like what the agents tell them so they set their own price. Your house is in very poor condition and that means most buyers will have to consider the costs to make repairs and to up grade the place on top of the price.

It isn’t about the current market, which isn’t bad on Vashon. It isn’t about “dumb” real estate agents. It’s really about your unrealistic expectations. I suggest you take a look at other homes listed for about the same price as yours. I think you’ll be surprised.

There are several very nice homes in that price range that don’t need any fix up or work. They are in good repair, tidy, clean and show well. Several are beautifully staged to show off their best features. Those houses will sell. Yours may not ever sell.

I’m not trying to be insulting here. It always boils down to what a buyer is willing to pay. The price is ultimately set by the buyer and the market--not by the seller! Go back to your agent and list the property with a deeply discounted price and I think you’ll see results.

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