when to pull the plug on a broker

what are his reasons for why the apt hasn't sold?

I'm not sure when the moment passed, but it has passed.

Things aren't *that* slow. A year with no offer means you're asking too much. Unless there's something unusually off about the place.

Have you considered that may be, just may be, you're in denial and have over priced your property?

I'm very careful right now about disclosing too much info. I've reduced. Plenty. Still no offers.

But the place is a jewel and I know it is capable of selling if it found the ideal person(s). The only 'off' factor could be the lack of views, otherwise it's MINT and in a PERFECT location.

How do I know when it's time to pull the plug?

suggestions: interview additional brokers and get a take on their strategy.
look at ACRIS for comps
ask your current broker for a list of clients he's shown the unit to..

Regardless of your friendship with the broker, this person has one job to do for you, and isn't doing it. NWT is 100% correct - this broker mispriced your apartment from the get-go and I would argue has already cost you a substantial amount of money by not pricing appropriately for the market. Had you sold a year ago, you might have avoided the general 20% decline, even if you had sold it for less than it was "worth" then. From a business standpoint, the broker is not delivering the goods, i.e., and offer. If the market declines another 20%, are you willing to watch this broker cost you another substantial chunk of money?

If your apartment has no view, the only thing wrong with it is the price.

Thanks Riversider. Sledgehammer, re-read my last post.

The fact that this broker is no longer an exclusive and is allowing other brokers to co-broke makes me wonder what is up.
Again, could this be a fluke and really have nothing to do with the broker? But purely timing? And the market?
This is a big decision and again, their (I'm being non-gender specific) reasons for why it's not selling seem valid .

Everyone who knows the apartment can't believe it hasn't sold. I am truly at a loss as to what to do next.
But Riversider, I think you're idea is smart and a step in the right direction.
Thanks.

evnyc: thank you . It's true, there's a job here - and I know if I was hired and did not deliver I would understand my employer 'letting me go'.

It's a tough call here b/c of the extreme circumstances of the economy and recession hitting me the precise moment I listed. And the wintertime is not the time to sell it.

I'm on the fence here - could another broker 'magically' make it happen if this one hasn't?

I've received the broker's stats in comparable listings and my ask price was right on target. Under, even.

I agree with the other posters that have suggested you get other brokers in there to offer additional opinions. Ditto for comments on comps, and Purple32 puts it well, if bluntly, that it is likely to be a price issue. Unless there is some seriously off thing about the apt, neighborhood or building read: bad neighborhood, noisy? near a tunnel?, construction issues/layout, building financials are awful, coop board has an exceptionally picky reputation.... if not for something like that, sounds like price is off. Can you be more specific about your apt - is it in a truly desirable neighborhood, is your building restrictive, your maintenance very high, near transportation, bad school district???

how many people have showed up say in the last few months? Between OHs and private showings? Is this a marketing problem or a price problem?

If you had 35-45+ people in over the last few months and not one offer, then it is a price problem. If you had more, then it really is a price problem. If you had a lot more, then it most definitely is a price problem. If you had much less, I am inclined to say its likely a bit of both.

FYI - low floors, dark apts, no views, needing full renovation, etc. units are still not easy to move in this market

tandare: again I can't disclose too much, but it is in a prime location. Along with no views it doesn't have a great deal of direct light. Both those were/are taken into consideration when adjusting the ask price.
But it is serene and in a beautiful location, easy board, Mint gut reno, great neighborhood, neighbors, I'm telling you I shake my head at sitting here one year later still owning it.
how do I know what/who's to blame? economy? broker strategy?
They (broker) seems to be doing everything 'right' but selling it.
It's weird.

It's all about price. What HAS sold in your building?

if you dont disclose too much info, its hard for many here to give you a better response. I have feeling the no view, no direct light + lack of discounting those characteristics enough, are contributing here. This will be especially true if 45+ people went through your place in past month or two and you still didnt get one bid. sorry to say. dark places are not easy sells in this market where buyers are picky & patient

wonderingtoo: Just two nibbles of info. In a small range, what is the price per honest sq ft you are asking? neighborhood...ultra prime, prime, ok, or not good??

urbandigs thanks. My unit is not 'dark' but it def isn't sunfilled. And no views. Again, we've adjusted the price considerable to allow this. But the unit needs ZERO work. It is mint.
But interesting FYI regardless, thanks.

and ps: the views are inner courtyard building views. there is plenty of room between the buildings and wonderful cross ventilation. Birds, breezes, it's all there.

I think a writer, creative person who works from home, or night person would find this place heavenly.

whatever you do, don't post the link to your apt. Here is what you can expect if you do:

http://www.streeteasy.com/nyc/talk/discussion/9261-open-house-today-130-400pm-high-floor-corner-1-bedroom-407-park-avenue-south-18b

So it sounds like it's really not a broker issue then?

Wondering, in case you don't follow the boards much, The President (aka Aline) is the resident village idiot. Urbandigs has good info for you.

wonderingtoo - hm, well one person's mint is another person's needs-to-be-redone, sometimes. Have any units in your building sold in the past year? If so, how do they compare in pricing? How many open houses, how many people have actually come to look at your apt? Not one bid?

wonderingtoo - maybe you can give us a broad idea of your building - within 3 blocks of subway? basic neighborhood area (e.g., UES, UWS, above 104th, below 14th...) Is it on floors 1-3 or above 3rd floor? Just enough basics, but not your address.

1) You didn't seem to answer if your broker generated the appropriate traffic. It is kind of a numbers game.

2) If you think your market is the writer/creative type, can they afford your apartment in this economy and with the more stringent mortage requirements? If so, do they have to sell their current apartment to afford yours? I ask b/c perhaps your ideal buyer is scarce.

Not one bid.
Mint in that everyone who sees the place falls in love with the design and decor, except for the lack of views and light.

That said, do I wait for that one person doesn't have that as an 'issue' but loves the decor and location
so much, is in move in condition, the fact they can sleep to their hearts content and hear a pin drop 24/7? Except for the doves out the window. Oh, and did I mention the smell of flowers from the inner courtyard trees?

I shake my head.

Not great turnouts at the last OH's and the price drop seems to not have made much difference.

hsw9001: now THAT is something that hadn't occurred to me. Very insightful.
We did have an 'older' couple - one's a writer - they clearly had their finances in order, came back 4 times, even sat in the place 1 hour to 'hear the quiet'. But they opted to rent for a while.

i honestly don't think enough people came in based on the open house turnout.

Perhaps each week average of 4 or 5 parties, sometimes only 2 or 3.

And a few private appointments - though I don't hear about each and every one since I'm not living there.

why don't you just give approximate price and approximate size. thats way to general to figure out the listing. you will get plenty of feedback about what your place should be.. judge for yourself if your price holds with the feedback you get.

within 3 blocks of the subway, yes.

wonderingtoo - sounds like your older couple felt it was too expensive, and that is why they opted to rent for awhile - figuring that it would cost them less to rent the same amount/type of space than to buy yours. (Unless they were considering say, moving to Colorado in 2 years in which case buying anything probably doesn't make much sense for them).

In fact why don't you try doing a thorough search for similar apts - size, neighborhood, and see how renting a similar apt compares with the monthly expense of buying your place (figure your buyers will put down minimum required by your building in your numbers). If it costs more to rent than buy a similar apt, perhaps people need to be very motivated to buy your place, from a financial perspective.

in the current market, many people are not willing to settle. light and views, at least some, are a requirement of most people. i know people who would not buy an apartment double the size that was dark.

since you do not live there, is there any furniture to "stage" the apartment somewhat? if there is furniture, is it too classic or modern? does the broker advertise your apartment enough (ie NYTimes online and in print, Craigs, SE)?

it's interesting to hear you mention that recently, he let other brokers show the apartment as well. so you got screwed for how long when he did not co-broke your apartment? was that because you gave him low commission?

no light or views = no sale in current market.

maybe it would be wise to rent it out for a few years....

I was trained in the suburbs that you should get one offer for every ten showings. In this market, which has been lousy, frankly we are pulling one offer maybe every 20-25 showings.

If you have not seen any offers at all now -- given that the mortgage market has loosened up a little recently -- it means that the apartment is seriously flawed. It will take some skilled marketing to move it, so yes, you need another broker.

But -- let me add my voice to the chorus here -- you probably also need a price cut. It does not matter that YOU feel that you are in line with comps; BUYERS (because I bet you at least three of the people who have seen your apartment have bid on something) don't think you are.

Since you are not willing to take a price cut and you're in a building with an easy board, rent the unit out.

ali r.
{downtown broker}

front_porch - I never knew the expected ratio for showings to bids, that's interesting to know.

wonderingtoo -- i think what front_porch says is good advice.

I have to say, I am a buyer in this market, and I was absolutely appalled by one broker's showing of an apartment (which, incidentally, was a jewel of an apartment in a fabulous building in an A+ location but did not get much light and had no view...)

He sat there on the couch and tapped on his blackberry the entire time while my broker and I wandered around the apartment ourselves. And this was an appointment, not an open house! How anyone has hired this fool from Citi Habitats to sell their apartment is just ... mind boggling.

Sorry, just realized I didn't finish with my point!

The broker's atrocious representation of the apartment was not enough to make me uninterested in the apartment (it was the lack of light and views and the $799k price tag) but it was certainly enough to make me wonder why anyone in their right mind would have hired this guy to sell their apartment.

Ultimately, I am a first time buyer who doesn't need to sell anything to move, and yes, I can afford to be picky! I am looking for a deal in this market, and unless the price is really really REALLY good (<600k for a prewar one bedroom in decent shape) there is no way I'm going to pay anything more than a rock bottom deal for an apartment with no views. Sorry, wondering too.

Honestly, I would create a new Streeteasy screen name and post back in a few days, weeks, hours, whatever and simply be one of those newbies saying something to the effect of, "I am thinking about buying this place, does anyone know the neighborhood, building, whatever."

and then the url.

People list this type of question with urls all the time - yours may have already been posted.

That will be the best way for you to get meaningful feedback, in my opinion.

wonderingtoo - just out of curiosity, are you 100% certain that you haven't gotten any offers? I know it's kind of a minor point, but is it at all possible that your broker is not communicating lower end of the spectrum offers to you? For an apartment that has been on the market as long as yours, I would be VERY surprised if you have not gotten a lowball offer - those types of apartments are magnets for lowballers.

http://downtowny.blogspot.com

Your unit is not selling because it's missed priced.
Call in a new broker and have them price your apartment based on neighborhood comps which should be presented to you in a print out. don't forget to ask a key question, what do I have to price this place to sell. Completly forget about what you paid or how much you think you should get. In this market you place has a price, you just might like the number.

It could be that your friendship with the broker has affected your ability to look at his/her performance objectivity. It sounds like the only reason you are conflicted about the decision to pull the plug is because of the friendship, and that's very unfair to you.

Regardless of the market, IF IT IS PRICED WELL, IT SHOULD SELL. As hard as it is for you, you need to get a new agent, drop price again, and try to come up with some sort of marketing push. However, it may be just be better for you to wait until September though as I cant expect things to be very busy over the next 60 days.

Good luck.

Good brokers like Ali and Noah (who commented above), will keep your objectives front and center in the business transaction. Friendships are nice, but if the friendship is standing between your objective of selling the apartment, then it might be time to separate the two. You are depending on the broker to price the apartment competitively in the marketplace, and if the market has moved, it is his/her job to get the deal done at the best *possible* price point and to explain the market to you so that you can make rational business decisions.

wonderingtoo, I hope you don't take this the wrong way, and I really just want to try to help you in thinking about this - have you considered whether you're allowing your own attachments to the apartment get in the way of your being objective enough to take the measures necessary to sell it? Consider the following ways you've described it:

"But the place is a jewel and I know it is capable of selling if it found the ideal person(s)."

"But it is serene and in a beautiful location, easy board, Mint gut reno, great neighborhood, neighbors, I'm telling you I shake my head at sitting here one year later still owning it."

"That said, do I wait for that one person doesn't have that as an 'issue' but loves the decor and location
so much, is in move in condition, the fact they can sleep to their hearts content and hear a pin drop 24/7? Except for the doves out the window. Oh, and did I mention the smell of flowers from the inner courtyard trees?

I shake my head."

I'm sure the apartment is beautiful. But, suppose someone came to you to tell you that her apartment hadn't sold for over a year, but that it was a "jewel," "serene," "beautiful," and ha lovely "smell of flowers," and that she was sure would get the price she wanted once the right person came along. Looking at it objectively, do you think you might wonder whether her attachment to the apartment might be getting in the way of her judgment about what the apartment was really worth in the market?

Best of luck!

I appreciate everyone's opinion. As I've said, my apartment is a jewel in mint condition, great location, nice and quiet, and I'll give you a window into the pricing, we are at 55% the price per square foot of the last comp for the apartment just one floor above that was just 2 months ago. I'm at a loss, the place does not smell or have rodents or roaches or radon. I should probably just let you evaluate it, so please, be kind, here is the link to it on streeteasy http://www.streeteasy.com/nyc/talk/discussion/555-i-want-to-void-the-contract-due-to-murder-in-apt

Tojc has an interesting idea. I would think over what JohnDoe asks, and if you decide you don't want to sell, take Ali's advice and rent. If you do want to sell, take it off the market for the rest of the summer, get a new broker, and come back with a price drop and a good marketing campaign in fall. It sounds like a very nice apartment, but it is a very competitive market out there right now.

Anyone else feel a gentle tug on the leg?

wanderingtoo - i don't get your link. are you saying your apt had a murder/suicide in it? i have no advice for you regarding that. how long have you owned the apt?

warm from the dog?

so your the the one who bought and started that thread 2 years ago? I'm confused. Can you please clarify your relationship to the apt. with the death? Are you the owner of it?

JdgDennyChen, hwo dare this guy try to sell us his apt. that is likely haunted from the person who died in it. Please sentence him to 150 years. Thank you.

If there truly was a murder a couple years back, clean up, fumigate, don't advertise it.

Is this even for real? I read the local papers and dont remember a lot of triple murder suicides in Manhattan over the past few years. What is this Amityville Horror

what? someone took my user name. this is not me! I am wonderingtoo not WANDERINGTOO!

SE is infested with trolls.

I came here for some honest feedback - note this other person's 'user name' is with an 'a' not an 'o' one letter off. Please. I lived in the apartment. It is still furnished. I've moved on.

Trolls be damned, there was no murder in my apartment this year.

wonderingtoo -- how annoying. ignore them.

I really appreciate those who are here to help. I've learned a lot and thought a lot about what everyone has said here. Thanks again.

wonderingtoo who are you kidding? This is the biggest fake crap since someone last week said he could buy an apartment for $525K or rent it for only $3500 and then didn't show up just a day after starting the discussion.
Here's the solution to you "problem" LOWER THE PRICE SUBSTANTIALLY. Your "jewel"s are only special to you and maybe one close loved one.
This is so fake it even is worse than PradaAddict and qwerty.

Okay, I am officially confused. InvestAB to whom and what are you referring?

lol, nice try, Confused in Unsold Apartment

My plan is to take it off the market temporarily. I can rent it out for 6 months to a year until I get a sense of what the market dictates. I appreciate all of the advice and will re-read the thread above, minus the b/s and nasty posts. And begin next time with most likely a new broker and better strategy. Thanks again for all the feedback.

Oh, this was such a good thread until whatever idiot out there who gets a kick out of impersonating others hijacked it.

thanks evnyc -and by simply one vowel.

No worries, I got much from it and am grateful for all who contributed.

You could potentially hire a professional "shopper" to go see the apartment and evaluate the broker for you. Where to find such people? I don't know.

Perhaps I'll start a service!

interesting advice. Although, I know this broker now personally, and cannot imagine them only being professional.
Question: how long should the classic Sunday open house be? 1 or 2 hrs?

If I had a seller who wouldn't listen to my advice and thus I couldn't sell their apartment as a result for over a year, I'd fire the client.

looking2return: I've done that (but I'm not cheap).

This is amusing but the ending solution is also amusing - rent it for 6 months or a maximum of 1 year? Who rents for 6 months in all but the most special circumstances (and I always wonder why the owner bothers). The whole thing is simply to the owners' convenience and ignores the market. Who is going to pay the broker fee for this rental? Will it be offered at a slightly below market price to get someone in immediately, or will it rent over the market because it is such a prize and then suffer price chops over a few grand in annualized rent???!!

wonderingtoo - unlike 30yrs, we're cheap AND easy :) If your apartment is downtown, we'd be more than happy to pop by and let you know what we think of your broker's ability. After seeing about 60 apartments, we've got quite a few opinions on brokers :)

Shoot us an email at downtownyblog@gmail.com.

http://downtowny.blogspot.com

"unlike 30yrs, we're cheap AND easy :)"

What are you doing on Friday night? ;)

30 Years - forgive me if this is known and I just missed but what company do you work for you? I always find your advice to be extremely good - I didn't know you were a broker, I thought you were a private investor.

Some clients will go with the broker who estimates the highest selling price and then get upset when their unit languishes...

I listed my apt last may and the broker was a greedy pig and overpriced it. I thought the orginal price was too high but he swore up and down it was the right price. Six months, one offer feel through and two never made it to contract i kicked him to the curb.
Hired two new brokers, we all sat around and said this is a great apt, well priced ect, ect ect... Three months later the brokers said, take a deep breath- you want to sell lower the price A LOT. We did and it sold.
It's a new world in RE and we have to get our heads around that, for good or for bad.
Wonderingtoo- i said ALL the same things you said, great apt- i just need the right person. In the end it's the price. Let me know if you would like the names of these amazing guys

Whenever one is on a ventilator ? :)

brokers.... remember, their job is to line their pockets. They corner the market and collude to shut you out. They will spend 2,000 to make 100,000. 6%/5% just doesn't make sense anymore.

Make them lick your boots before you sign that exclusive.

Did anyone notice this line from Wondering:

I've received the broker's stats in comparable listings and my ask price was right on target. Under, even.

In a frozen market, shouldn't the comps used to determine your pricing be based off of sale prices, not listings? Or, maybe you use the bottom 5% of the listings, etc.? It sounds like this was based off the average comparable. Perhaps that could be part of the problem? Those other average listings aren't moving either.

I am curious about this comment.

"I like the broker very much and their argument(s) as to why the unit hasn't sold seem valid."

So what are the arguments why he/she thinks it has not sold?

price, location, no views and no light.

Timeline

1) July-August 2008: price too high, made reduction
2) September-November: reduced price got no offers, Broker says economy to blame

took off market

4) Spring 2009
Back on market with new reduced price
no offers
Some interest, but Broker feels the lack of light/views, and tepid economy is the reason for no offers.

5) Summer 09
Reduced price again, no offers.

Broker feels it's a combination of lack of light & views/market hesitancy/and price

Rethinking new strategy.

I have had no problem whatsoever with price reduction. Broker is being the conservative one, not me.

Question, is the 'classic' Sunday open house usually one or 2 hours long. Is there feeling as to the benefits of shorter vs. longer.
?

ab_11218 ~ the location is solid.

ok... one out of 4 is not bad...

open houses should be at least 2 hrs. by providing only a 1 hr window, you end up missing a lot of people who just misjudged the train, the kids, the.....

i've seen people spend upwards of 40 minutes in the apartment they were interested in, that's most of the open house time right there.

interesting ab_11218... I feel the same way though B says a one-hour is better as it allows for cross-traffic and psychologically a sense of more interest.

I think there's validity to both. Again, this is why I'm throwing all this 'out here' - I need some total objective opinions.

I really like the ethics and MO of my broker. But when is enough, enough? And when do we know if is it not about the broker and more about the timing and current market climate.

As you can imagine, I'm wondering...hence my name :)

in my experience, there are people coming in 15-30 min late to a 2 hr open house. i usually stayed for 15 minutes only. if the open house is not in the beginning, 11-12 noon, or the end, 3-4 pm, of other open houses, there's a lot more chance of people just not bothering.

The math is pretty simple...apartments that are priced right given all of the variables are selling. Lots of have gone to contract...time for a new broker.

wonderingtoo -- personally i think open houses less than 2 hrs are useless, a lot of people won't be able to make it or will assume that after trying to get to see a few other places the same day it will be cutting it too close to missing it, to bother coming to yours. If you look at your watch and calculate that you MIGHT make the open house, you might not bother -- will it be worth it to rush over, show up totally sweaty and end up with 10 minutes to see it, when you might like to spend 30 minutes there? I think 2hrs minimum is better just my opinion. If you are worried about a dearth of activity making it look bad, perhaps there are some friends of yours, or neighbors who could be enticed to visit during the open house?

Also, if you broker is the one pushing for an open house, I think that's your problem -- if you really want to sell it, lower the price. Price, price, price.

You say it's a great apt, except for light/view. We just looked at an open house last weekend we truly expected to love... the renovation was very well done, nice details, but it was dark. The only room with sunlight was one of the bedrooms. The living areas where you spend the most time were very dark. Unless the pricing really drops I don't think we'd be interested as a result.

Call another broker, ask them to do a 2nd opinion. Use comps of recent closed sales, not listing prices, then reconsider with or without your broker what to do next. If you really want to sell it, lower the price.

I think if you don't price an apartment right and there are drawbacks like no light/views, buyers tend to get turned off by that. And then they don't even bother offering or even try negotiating, as they don't find the place impressive enough, esp. for the price. I think you need a new broker who can lead you to a realistic price point that will sell your unit.

"30 Years - forgive me if this is known and I just missed but what company do you work for you? I always find your advice to be extremely good - I didn't know you were a broker, I thought you were a private investor."

I have a desk right next to Ali/front_porch. I have my Associate Brokers License hung with that firm. But in general (as Ali will probably confirm), I'm not really a "retail broker"; I offer a fairly diverse array of services, including "standard" RE brokerage, but mostly to a more institutional clientele, as well as trading on my own account. I've known the principal of the firm for 20 years and he and I have an arrangement where he provides certain services for me and I for him (like deal doctoring any office deals where anyone wants my help without my usual fee for doing so). It's actually a funny coincidence you ask: just last week I had 3 Sponsors (of past offering plans who still control a fairly hefty portfolio of unsold shares each) walk in to my office unannounced (separately, not a group of three) simply because they were in the neighborhood and wanted to a)pick my brain, and b) see if I had anything for them to put money into.

"The math is pretty simple...apartments that are priced right given all of the variables are selling."

And then there are brokers who are selling apartments that "shouldn't be selling" (according to the SE group think), but the broker doesn't laugh at ludicrously lowball offers of 30% off (like they should according to the SE group think) but instead end up negotiating a deal and closing it. But how could that happen when we all know it can't? ;)

I haven't read through this entire thread so someone else has likely mentioned this but I'll toss my hat in as well.

It's terrible marketing strategy to allow an apartment to falter on the market for months on end, price cut after price cut. The longer the apartment lingers, the staler it gets and the more it seems like something's 'wrong' with it and potential buyers often shy away without even bothering to look. A lot of this is purely psychological. Small, frequent price chops don't help either--they make both the broker and seller seem clueless.

Your broker was remiss, IMO, in not taking a more proactive approach to moving this apartment. When he saw it wasn't garnering any offers he should have made big marketing changes, possibly drastically lowering the price to create interest. Very likely he allowed it to be priced too high at the beginning, which is also a huge blunder.

You mention the lack of view and light--these things are absolute deal-breakers for many buyers, regardless of how 'lovely' the apartment may be. But, there are at least strategies that can help, such as doing away completely with clutter, painting in light, sunny colors, and installing excellent lighting. You can even put sheers over windows that look into brick walls to 'soften' the effect. Has your broker ever suggested any such improvements? If not, he's not doing his job.

It may at this point make sense to take the apartment off the market, do some tweaking, and put it back on in a month or two. No, it won't wipe out your history of languishing and cuts on sources like Streeteasy, which track all activity, but it will look fresher on your broker's site at least.

everybody who wonders why I'm at a dinky little neighborhood firm rather than at one of the big three, 30 years is one of the reasons. He's forgotten more about great brokerage than most big-firm agents know.

wondering with an o, one thing you don't mention is your apartment's price stratum. I'm not talking about the "is the price level too high" question -- I'm talking about whether a potential purchaser would need to take out a jumbo mortgage. We have seen the market for higher-end properties (let's say above $1.5 million) to be much more logjammed than at lower price points, so if you are above that, you have basically been looking for a cash buyer.

However, there's been some loosening in even that market segment recently, and we're starting to see offers in the higher end.

As far as open houses, they don't sell higher-end apartments. One hour every two or three weeks is fine, because your actual buyer is going to come in by appointment.

For under $1.5 million, I'd say one OH of one and a half to two hours is fine, roughly every other weekend. Your buyer may well come in to the OH, but if you're too available, you'll get more lookers, but not necessarily more buyers.

ali r.
{downtown broker}

wonderingtoo - why are you so worried about sending us the link? Is it because of the broker? I think your post should be more about why the unit has not sold but we have too little to go by. Would gladly help if we had more info. Btw, don't underestimate the importance of light. In a buyer's market, apartments with major deficiencies (like limited natural light) will not sell unless they are priced at a very steep discount. What price per SF are you asking and what neighbourhood are you in? (Apologies if I missed this info.)

this is a ridiculous crytic post.
the market is in the loo and the only way to sell it is to price it right. if you do not want to share the details then don't ask. reread your own responses and you will see how silly this all is.
sorry to be so blunt but someone has to

It seems to me that you are too defensive about your perfect, mint-condition apartment which hasn't had a nibble in a year. It's priced wrong or it has been poorly promoted or both & it seems that you need fresh input to get it sold.

RE2009 is on it - more details otherwise basta.

exc advice also from Squid and Ali.

The price is too high, clearly.

I also suspect the decorating might, might, be seriously wrong for the demographic that would be interested in buying your place.

A broker I met years ago gave me some sage advice: Decorating sells. You obviously love your decorating, and people know that and no one wants to offend you by telling you the truth. Maybe not even your original broker.

Buyers have got to be able to imagine living in your place. It maybe too original for that.

You're wealthy enough to let it sit for a year, you should be able to afford some changes in the decor. You need to find a different broker who gets this and can tell you what to do. Then you need to do it ;) if selling is your goal.

Good luck to you!

http://www.nytimes.com/2007/04/10/business/2007_BUYRENT_GRAPHIC.html
Plug in what you will be able to rent your place for, as well as the other stats (taxes/maintenance) and figure out what price it has to be at to make it worthwhile in 5-10 years. This will give you a different perspective on how you've done on the pricing front.

Don't forget that rents have dropped this past year.

Don't forget that rents have dropped this past year.

Another reason for home owners to not believe CPI numbers(they exclude home pries and only look at rent). Now the gov't will tell me my cost of living has gone down!!

Does this broker have other listings that have moved? Or did you hire a friend who is just a very occasional part-time broker?