Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime

Let's keep in touch

Subscribe to our newsletter for timely insights and actionable tips on your real estate journey.

By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions
Followed Discussions Followed Categories Followed People Followed Locations
Buying & Selling Real Estate
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 8 years ago on . Most recent reply

Account Closed
  • Johnson City, TN
705
Votes |
586
Posts

Dilemma with listing agent.

Account Closed
  • Johnson City, TN
Posted

I have a bit of an ethical and personal dilemma involving a real estate agent that I have a flip house listed with. First a little background. I have known the agent casually for several years and we go to church together. I have bought some foreclosures through him as well as had him list a few houses. Unfortunately I have felt a bit obligated to him to allow him to list my properties. I seem to forget the unwritten rule of not doing business with family, friends or fellow club members. He is a nice guy, but in spite of having over 20 years experience as a realtor, he seems to lack both knowledge and a high level of ambition. I listed a flip house with him in a neighboring city almost two months ago. He doesn't actively work the area but I figured that would get it into the mls. So far I have been VERY disappointed with the traffic. This area isn't red hot but it also isn't dead. I have had only 3 official showings and no offers. At the time of listing, there were some comps that justified my listing price of 139k. At this point I realize that I need to reduce my price to move this house. I also realize that my realtor is also the wrong man for the job considering his motivation and lack of local contacts. I am debating on getting out of the contract and reducing my price 10k and going FSBO for a while and maybe relishing it with a local agent if that doesn't work. Another option is to list with another agent immediately and lower the price 5k. Right now I don't feel like rewarding an agent a commission that is a result of a 10k hit to my wallet.

Loading replies...