When Your REA Overprices the House
DH and I are selling a summer cottage on the river about 25 minutes from our house in the next county. It is a lovely property, about 1.4 acres and I have made perennial gardens around the property.
It is, however, a cottage and not a suburban home. It does have all the amenities except a dishwasher, but it only has 2 small bedrooms and one bath and no closets in the bedrooms. It does have a pantry in the kitchen and a coat closet in the entry.
The REA describes it in the ad as a suburban split-level and potential buyers are envisioning a family home, which it is not. It is more of a summer home, but there is a gas fireplace that heats the living areas. (In order to sell it, however, we have to install baseboard heating in all the rooms which we are willing to do.) So it could be lived in year round.
We think she has over priced it at $259,000. Plus, she pulled a fast one, saying 7% commission is the norm, which it isn't! We only paid 6% when we sold our house in 2008. And we think she should list it in our local Sunday newspaper, as well as the one in the county where the house is. She said there was some dispute with the newspaper and they charged too much! ???? So what! And she has it listed with her office for 6 months. Isn't that a long time? DH and I just were not thinking when we signed the contract.
We are tempted to get out of the contract and pay $1,000 to do so. It is still cheaper than the 7% commission she charges.