Real Estate Agent: What should I expect?

[mredskins]

Honestly if the rental market is good in your area I rent it out.

I have multiply rental properties and I have done very well by it. Just be very selective about who you choose. Then at the end of the lease re-evaluate your market and decide if you should sell or rent again.

[firstdown]

Originally Posted by mredskins

Honestly if the rental market is good in your area I rent it out.

I have multiply rental properties and I have done very well by it. Just be very selective about who you choose. Then at the end of the lease re-evaluate your market and decide if you should sell or rent again.

I agree with the above. Have you checked to see what the rentals are going for in that area and would it cover enough or all of the mortgage? If that would work it would probably be a good idea to list the home as For Sale or rental. There is a good chance that your home in the country will be the next best thing from living in the city down the road. Also remember the listing agent is the one who does the advertising so how is the home advertised? If you have only had two people look at the home in the past 3 months your agent might not be pushing the sale, its over priced, or your location is not desired. My guess is a combination of the first two and the agent knows that so they are not spending the time need to try and sell your home (they like the easy sales first then give attention to the tougher sales). My guess is if you pulled the listing from her she will not care because she knows its a tougher deal and if she finds a buyer she would still make a commision and not have to put in the extra effort.

[TheMalcolmConnection]

Originally Posted by mredskins

Honestly if the rental market is good in your area I rent it out.

I have multiply rental properties and I have done very well by it. Just be very selective about who you choose. Then at the end of the lease re-evaluate your market and decide if you should sell or rent again.

We actually can't rent it out. The university I work at does our mortgages and if we rent it, they say we either have to refinance with someone else or pay them back, so that's not an option unfortunately. I really like the idea of pulling it for a while and going back with someone else. We've started lining up agents we like and are going to interview them soon because our contract with our current agent runs out in a month. Is it in bad taste to go with someone in the same firm?

[mredskins]

Originally Posted by TheMalcolmConnection

We actually can't rent it out. The university I work at does our mortgages and if we rent it, they say we either have to refinance with someone else or pay them back, so that's not an option unfortunately. I really like the idea of pulling it for a while and going back with someone else. We've started lining up agents we like and are going to interview them soon because our contract with our current agent runs out in a month. Is it in bad taste to go with someone in the same firm?

Nope not at all real Estate is cut thoart. Just make sure you keep your contract short with them. I say give them 30 days at best and you will revisit at the end of 30 days. I think part of your problem with your current REA is you gave her too much time so basically she said Iwill just sit on it and hope osmosis gets it sold. Also during the interview process talk about their commission ask them if they are flexible to get the deal done.

Also ask them what price will take this property off the market the quickest and work from there. Listen to what they say but don't commit to anyone until you have heard all your candidates and you and your wife decide on someone then.

Once you pick your person go back to them and say we want sell it for this $X and we are giving you 30 days to do so. If at the end of 30 days it is not sold we will revisit the price and your contract with us.