When the real estate market hits a lull, it seems that a big game of musical chairs starts!  Houses that are currently on the market and not selling begin second-guessing their agents and wondering if a change is in order.

I received a referral from an agent in Mississippi.  His mom is trying to sell her house in Kannapolis NC, and like everyone else on the market, she's concerned about the lack of showing traffic.   She was wondering if her agent was doing enough marketing to get the house 'out there'.  So upon receiving her call, we sat down and talked.  Discussed what marketing is being done on her behalf, what marketing plan I would put into place. Then we got into numbers and statistics on the local market.  As it turns out, the market (drumroll please) is slow right now.  A lot of competition out there (9 months' worth) and not many showings happening anywhere in the price band.  It would have been rather easy for me to degrade the current agent's marketing and abilities, but that wouldn't be right and certainly isn't the way I want to be known in the marketplace. 

Lesson from this tale?  When things are slow in the market, it's not always the fault of the agent.  And changing agents isn't a magical panacea!

I also received an email from a potential seller in a neighborhood up the road from me in Harrisburg NC.  She too wanted to know what my marketing plan would be on her home.  So we met and chatted about the market, looked at numbers on her home and discussed timing.  As we talked, she mentioned that she's selling another house.  It's currently on the market, but she didn't ask that agent to list this house, as she's not too pleased with the activity levels or marketing.  We took a look at that house as well.  Discussed what marketing is being done on her behalf, and what marketing plan I would put into place.  Then we got into numbers and statistics on the local market (are you detecting a theme here?).  As it turns out, the market is pretty balanced in her area right now.  We're talking about 2 months' inventory in her price band, not bad at all.  But this house has been on the market for 127 days...what's the holdup?  I detected errors in the MLS listing (now come on people, that's where houses are sold to other agents, it's got to be good!), and well-that's all the marketing in place for this house.  I should also mention that the photo of the house showed trees with no leaves...the photos weren't updated once spring arrived.  Again, it would be easy for me to degrade the current agent, but that doesn't accomplish anything.  As it turns out, the listing agent works for an agency that mostly works buyers-the agent admitted that she's not familiar with listing houses and it's not her expertise.  So it's not a slam to her personally that the house isn't sold, it's just that perhaps she's working out of her area of expertise. 

Lesson from this tale?  A second opinion might open your eyes to what's missing, and you might realize that your current agent's lack of expertise is working against your efforts to sell.

Don't be afraid to ask your agent about market conditions and get statistics (and get them explained if you're not a numbers person).  Don't be afraid to demand high end marketing, even if you think your house is 'cheap'.  Last time I checked, everyone's house is a significant investment TO THEM and should be treated as such.