Should we change realtors? Is the buyer real?
Last summer, my two sisters hired a real estate agent to sell our father's house. The agent had a 6 month contract, showed the house something like 60 times, she says, and now her contract is expiring, tomorrow. Over the weekend, she sent us an extension for another 6 months, with no comment or request, just a contract.
I know the market is soft, and the house is a little unusual-- a rural farmhouse--but I think if she hasn't been able to sell it in 6 months, we should give another agent a chance to sell it. Any thoughts? The house is rustic, but the property is beautiful with an ocean view and apple orchard. I never dreamed that it wouldn't sell quickly. In the town I live in, a similar house would sell in a week; not a year.
One of my sisters doesn't like our current agent and for sure wants to switch or even go with a discount broker. The other sister (with whom I have issues) is insisting we stay with the agent we have "because she's worked so hard." She did help us sort out a title problem--although only with some major nagging on our part and us doing half the work. But I've been disappointed that we got only one offer in 6 months. She set the asking price very high, to get one my sisters to sign with her. Then brought us just one offer that was 150K lower than that. The other agent had evaluated the house himself at 150K over that when he was trying to get the listing. In any case, whatever I say now, one sister or the other will be mad at me. I am the default swing vote and just want to hide under the bed.
Does it matter that this agent has worked hard and knows the property? Should we reward her for taking so long but putting up with things like broken plumbing and gas leaks? She wants 5% by the way and I had to push hard to get her down from 6%.
She also claims to have a buyer in the wings, but that he needs more time to put together an offer---which would be half cash and half seller financed. We agree to this in principle. But this guy first saw the house in mid January and still no offer. He says his wife is sick. I am wondering if he exists. I thought if our agent wanted the listing she would have got an offer from him by now. He is also a real estate agent. Is he maybe waiting for her contract to expire (tomorrow) so he can come to us directly? How should I react to this situation?
Thanks!
Just Asking