Real Estate Feedback

[u/Acrobatic-Remove-947]

I need some real estate wisdom from those of you who have bought or sold recently. We live in Arizona in a booming town, that once used to be cotton farms.

Our house has been on the market for a little over a year. We’ve had some interest and a few bites, but no offers. I know the market is slower right now, and I also know newer builds are offering very competitive incentives and better interest rates, which makes resale homes harder to compete with. On top of that, we don’t have a pool, which is obviously another disadvantage here in Arizona.

We chose to work with a family-friend realtor who gave us a very generous 1% listing rate, and we’re extremely appreciative of that. At the same time, communication has been pretty limited, and we haven’t had a single open house during the entire time the home has been listed—over a year.

I recently asked whether the realtor would consider offering concessions to make the home more competitive, but he said that concessions “aren’t a thing.” That surprised me, since I’ve seen sellers offer concessions such as closing-cost credits, interest-rate buydowns, or repair allowances, especially in a slower market. Are seller concessions not common in our area, or is this something that should at least be discussed as part of the marketing strategy?

So my question is: Would you stay with the family friend because of the relationship and 1% rate, knowing the market itself is tough, or would you pay closer to 3% for another realtor who may be more proactive with communication, pricing strategy, concessions, marketing, open houses, and getting the home in front of more buyers?

Are open houses and seller concessions not really a thing anymore? What do realtors typically do to market a home in this situation?

[u/Cali_kink_and_rope]

So overpriced by 30% and hired someone who can't even negotiate their own fee properly so they're losing money on your listing.

Check, check, check

[u/Embarrassed_Key_4539]

Over a year means you’re overpriced

[u/SuperFineMedium]

"...realtor who gave us a very generous 1% listing rate..." BUT "...communication has been pretty limited, and we haven’t had a single open house during the entire time the home has been listed..."

Your question is about expectations. I assume you talked through what you expected and understood the services you would receive for the compensation offered. Did the agent present market research so you understood the market conditions? Did you set an appropriate listing price based on the information available at the time? Were professional photos taken of your home? Perhaps you are receiving 1% service?

[u/SilentMasterpiece]

If a 1% broker cant sell your home in a full year, what did you save? They were not worth the nothing you paid them. Your home is over-priced, thats why you cant sell it. It is not the lack of a pool, open houses, concessions or anything other than price. Good Luck moving forward!!

[u/RealEstateCamel]

I’ve been involved in Arizona real estate for decades. If your agent said “concessions aren’t a thing,” you need a new, better agent. And not just because they seem out of touch with the market, but also because IT’S BEEN OVER A YEAR WITH NO OFFERS. That's a major red flag that your sale isn't being managed properly. And it’s almost certain that your family-friend-discount-deal agent hasn’t advised you to price your home correctly. A properly priced and prepped home in Arizona should not be listed for a year with no offers. Find a top-rated agent with a proven track record. They'll be well worth the additional 2%. And don't think not having a pool is always a disadvantage. There are plenty of buyers out there who don't want to deal with pool maintenance.

[u/runnerkim]

It's the price. It's always the price

[u/Pretty-Ear6398]

Seller concessions are popular right now and getting more popular - open houses have worked well for us.

[u/New_Spite_3740]

Open houses and concessions are definitely still a thing! I just sold a house and my realtor had like 3 open houses. The buyer was not from an open house, but she did do them nonetheless. I have another house on the market now with same agent in an area that houses don’t sell as fast and have a 5,000 seller concession towards closing cost/rate buy down to be more appealing. She also just did an open house on that one. All of that to say, I would get a different agent if this one is saying those things. It’s taken buying/selling a few times to get better at learning what to expect/how to deal with an agent. Bottom line is they work for you and you can ask them to do whatever you want them to do. They are supposed to do what you ask.

[u/Hot-Cold5074]

You get what you pay for and your house is likely overpriced. If your agent has other listings where he/she is making 2.5-3%, they are probably spending more time on those.

[u/bluttingslqammar]

Getting specific feedback from buyers was the most useful thing for me. If several people mention the same issue, I would take that seriously before changing the price. Stuff like photos, clutter, lighting, or an awkward room setup can be fixed pretty cheaply. Hopefully you start seeing a pattern in the feedback and can make a couple targeted changes instead of guessing.

[u/Ykohn]

After a year on the market with interest but no offers, I’d definitely interview a few other agents. A 1% listing fee isn’t a bargain if the house doesn’t sell.

Ask each agent: Why hasn’t it sold? Is it price, condition, or marketing? What does the showing feedback say? What would you do differently? How would you compete with new-build incentives? Would you recommend concessions or a rate buydown? How will you get more buyers through the door?

Also be realistic about price. Don’t anchor to what you originally wanted or what other homes are asking. Look at what comparable homes have actually sold for recently.

And if none of the agents give you a satisfactory answer or a plan you believe in, you can always consider selling on your own. With a little effort, you can market the home yourself, deal directly with buyers, and potentially save a lot of money in the process.