When a house lingers on the market is it “just a tough market” or the fault of the listing agent? There may be a 3rd choice; i.e., the seller.
It could take an entire chapter, perhaps several, to address this question from all angles. Ultimately, in many cases it is possible to assign some of the failed results to all three.
In a perfect situation, the agent would correctly interpret the market, the seller heeds the agent’s advice and the deal goes through like a hot knife through butter. This scenario does occur, sometime.
The most often reaction to a lingering listing is for the seller to withdraw it or allow it to expire, then hire a new listing agent who repeats the process but typically at a lower price. Other times the seller does not immediately relist the house assigning the majority of the blame on the market, which would be a mistake if the agent bears the primary responsibility.
Unfortunately it can be very difficult if not impossible for the seller to know what the agent did or could have done in order to correctly assess whether they had hired the right agent.
What stake does the seller have in the results when they set the price high then recommended by their agent?
How many months should a home linger on the market before hiring, or at least considering another agent?
How do you know when it is the market, agent or seller that is responsible for a home not selling?
These can be tough questions to answer without the right information. Contact us and we’ll be glad to offer our insights and provide a 2nd opinion.