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Signed a 9 month exclusive, unhappy with broker

Started by leonyc
9 months ago
Posts: 4
Member since: Sep 2015
Discussion about
My broker asked me to sign a 9 mo exlusive agreement when we started, I didn't think much of it at the time and agreed. After over 6 mo of working with him, I am not happy at all. He is kind of sloppy, the photos are not great, when i asked him to re-shoot he complains that it costs too much. No offers yet for the apartment. No easy way out based on the agreement. He would need to agree to let me go, if I want to break it off. Is this normal/expected?
Response by Rinette
6 months ago
Posts: 535
Member since: Dec 2016

any update?

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Response by value
6 months ago
Posts: 11
Member since: Jan 2009

after so many months without an offer, have you lowered your asking price?
perhaps its a pricing issue not a broker issue

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Response by KeithBurkhardt
6 months ago
Posts: 2807
Member since: Aug 2008

This is why we have a clause in our exclusive agreement that allows you to break it at any time. I don't want to work with people that are unhappy with what I'm doing.

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Response by 911turbo
6 months ago
Posts: 157
Member since: Oct 2011

I think it’s impossible to answer this question until we see what your apartment is listed for and compare to comps. We only have your word, frankly, and as someone pointed out, your apartment maybe overpriced. On the photos, I have to say, I see some pretty god awful photos for listings that really do leave me scratching my head. If you have bad photos, prospective buyers will just ignore your listing so that’s a legitimate gripe if the photos are are really not good

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Response by 30yrs_RE_20_in_REO
6 months ago
Posts: 9766
Member since: Mar 2009

He knew from the price that was never going to sell. He is "seasoning" you.

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Response by multicityresident
6 months ago
Posts: 2238
Member since: Jan 2009

Honestly, an agent's doing his best to represent a seller at a ridiculous price is what sold us on the agent when we went to sell ourselves. The professionalism that the agent presented in the face of the level of incredulity that we presented upon viewing was admirable. The online presentation got us in the door; we laughed at what we saw in person; the agent held firm in the ask and let us walk away. He ultimately sold it as the ask about a year later. To do that, he had to keep showing up and giving it his all in the face of undoubtedly many reactions along the lines of ours.
When it came time to sell our apartment, we hired said agent, who prevailed upon us to list the apartment at an ask well above our bottom line. He got the job done an exceeded expectations.
Having bought and sold multiple properties in various states, I very much value the expertise of excellent RE agents.

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Response by KeithBurkhardt
6 months ago
Posts: 2807
Member since: Aug 2008

Curious what differed from the online presentation versus the in-person presentation? That's pretty severe, went from got you in the door with a very exaggerated price, to laughable.

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Response by multicityresident
6 months ago
Posts: 2238
Member since: Jan 2009

The outdoor space looked lovely and useable on the online presentation, and we thought that was what took the apartment to the price level it sought. However, when we saw it in person, the "terrace" was just sad and not space we would ever actually use.

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Response by KeithBurkhardt
6 months ago
Posts: 2807
Member since: Aug 2008

Interesting. That's one of the reasons I don't like to over deliver with the photos, essentially present an alternate reality. I base this on the many, many clients that have been so excited to see a property, only to call me up and tell me it looked much better in the pictures! I think the best response you can have is when somebody goes out to view a home that looked perfectly fine online. And then come away feeling like, wow that's a lot better than I expected.

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Response by 30yrs_RE_20_in_REO
6 months ago
Posts: 9766
Member since: Mar 2009

I agree with Keith.

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Response by Rinette
6 months ago
Posts: 535
Member since: Dec 2016

"wow that's a lot better than I expected."

I'd be upset as a seller client if my broker took and used photos that reflected the property materially worse than reality, likely losing potentially interested parties even before seeing it and otherwise indicating to those who did see it that the seller is naive and/or can be easily convinced to do something against their own interest, including possibly take a lower value than the market would otherwise support.

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Response by Rinette
6 months ago
Posts: 535
Member since: Dec 2016

"He ultimately sold it as the ask about a year later. "

So the agent listed 12 months ahead of market. That seems quite smart, in the client's interests, as it likely maximized value.

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Response by Woodsidenyc
6 months ago
Posts: 162
Member since: Aug 2014

It’s always best to present the apartment as accurately as possible, no exaggeration, no undercutting .

The other piece is the listing price, it is best to price the apartment the market is mostly acceptable. Over pricing it will cause the apartment to become stale, underpricing it will have a quick deal (good to the broker), but the owner will lose some money.

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Response by Woodsidenyc
6 months ago
Posts: 162
Member since: Aug 2014

For the seller, I do agree with 30, a good realtor knows the market and the neighborhood makes a huge difference.

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Response by front_porch
6 months ago
Posts: 5249
Member since: Mar 2008

to get back to the OP, I assume you signed an agreement with a salesperson, but your agreement is really with the brokerage -- I would call the salesperson's boss/managing broker and ask to cancel the agreement -- most brokers don't want to keep you tied in if you're not happy!

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