So, our house was listed at 3 bedrooms, but really it’s 2 bedrooms with a flex room. That detail caused some issues during the 3 months it was on the market. We had 70 showings but only received about 12 feedbacks. People kept trying to secure funding at various price points, leading to consistent feedback no matter our listing price. It seemed like many showings went to the lending phase but fell through.
I had a meeting with our agent to discuss what went wrong. She mentioned that the bedroom discrepancy was a major factor in the lack of interest. Additionally, the flood insurance situation was not properly explained to potential buyers. The FEMA coverage for floods is capped at $250k, regardless of the sale price. Any additional coverage beyond that is unnecessary and costly. I tried to clarify this to our agent, but it seemed she may have been misinformed about how flood insurance works.
Our agent suggested that we consider adding bedrooms to our downstairs and relisting in the spring at a different price point. She also expressed concerns about our decision to lower the price to $579k, feeling that we may have undervalued our home. However, she still advised against disclosing certain information, like the taxes, in the listing.
After the meeting, a family showed up at our house, claiming they had been trying to schedule a viewing through our agent but had not received a response. This left us feeling unsure about the level of service we were receiving. It’s a bit of a strange situation, and we’re left wondering if we’re in good hands or if something fishy is going on.
Overall, the experience with our agent was a mix of satisfaction and frustration. We appreciated her feedback, even though it seemed a bit late in the game. Moving forward, we have a lot to consider, from the bedroom situation to the flood insurance issue and the reliability of our agent. It’s a lot to take in, but we’re determined to find the best path forward for selling our home.