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Real NEastate: Should I sign another listing contract with my agent?

Q: My house was up for sale for a year in Bells Corner and my listing contract with my agent just expired. He wants me to sign up with him for another year, but I’m not so sure he did his job since he never sold it, even after all that time. Should I sign up for another year-long contract with this guy and give him a second chance or find another agent? I want to move.

A:  Nearly 25 percent of all home listings do not sell. The market rejects them. Homebuyers in this market either did not accept the marketing effort, the price, the condition or the location, or maybe even a combination of these crucial components to selling a home.

If your agent failed take at least 25 great pictures and place them all over the internet on real estate websites, did not place a visible sign in front of your home, didn’t advertise your listing in the Multiple Listing Service, or create virtual tours and great brochures, or if he didn’t communicate with you about the reasons your home wasn’t moving, then maybe you should find another agent.

Then again, what if he did all that work… and more? If the marketing effort was really good maybe you should give him a second chance. But even an incredibly clever marketing campaign won’t sell a messy or overpriced home. Your agent controls the marketing effort but perhaps your agent’s market efforts didn’t even stand a chance. And if he didn’t advise you about price, condition and location, then he really didn’t do his job.

While nobody can control the location of their home, you control the price and condition. If just one of those components to selling your home was off, then you should reassess them – because those are necessary if you want to move. You need to present the whole package when listing again. Make sure you list it in good condition, perfectly priced and with an agent skilled at marketing.

Stacey McCarthy is a real estate agent with the McCarthy Group of Keller Williams. Her Real NEastate column appears every Wednesday on NEastPhilly.com. See others here. Read other NEast Philly columns here.

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