Currently, houses in Central are taking, on average, more than two months to sell.

As a seller, sitting a long time in the market is a frustrating experience. It’s tempting to lay blame at your real estate agent’s feet.

However, more often than not, a slow sale reflects both the market and the pricing.

Over the years, I’ve seen many people fall into the trap of telling themselves to ask high because “we can always come down in price.” In practice, this works to the detriment of the seller. Savvy buyers won’t engage with sellers when they perceive the asking price as unrealistic.

Sellers then end up overpriced in a falling market, their price aspirations getting further away from cold, hard reality.

A realistic asking price, in contrast, triggers opportunity. Where potential buyers perceive good value the come looking, engage in negotiation and often end up in competition with others who see the same value.

If you genuinely believe price is not the reason for a lack of interest in your property, then you may want to consider changing agents.

You typically sign a 90-day contract with an agency. In the old days, this would then roll over automatically into a general listing rather than an exclusive listing.

Nowadays, your agent is likely to approach you for a renewal as the 90-day term nears expiry. You can extend with them for a negotiated period or you might look elsewhere.

It is acceptable for you to approach another agent or agency prior to your 90-day contract expiring so that you can go from one agent to another without missing a day on the market.

Or, you might decide to take the property off the market and rest it for a while before returning with someone new.

Most times we see sellers changing agents it is because the relationship has not been great or the seller has found someone with greater expertise in their type of property (e.g. farms or lifestyle blocks).

Sometimes, vendors change agents when they find that an out-of-town agency or agent can’t offer them the local advice and access to local buyers that someone based in the area can.

Sellers sometimes choose their agent based on prior relationships – a friend of a friend or the person they bought the house off – but find that a slow market needs particular skills found elsewhere.

A few years ago, vendors would often consider a general agency (meaning multiple agents from different companies list your property) versus a sole agency. With all properties visible online these days, that no longer makes sense.

In fact, at Tall Poppy we believe that it is better to have one agent acting as your single point of contact to take responsibility for the whole process from beginning to end. Of course, our agents will work with others to advantage the seller, but the old concept of a real estate team is not so relevant in the digital world.

So, by all means, consider changing your real estate agent if you feel things aren’t working for you. But also make sure that you have pitched your property at a realistic price point.