Realtor set price, urged 40k in price reductions in 7 weeks, and then fired me
My (former) realtor was a friend/acquaintance. When it finally came time to list my house I was excited to hear his price opinion. He supposedly looked at comps and recommended a range of like 424-445 so I went with 439. We got a ton of interest but no offers. I finally contacted him (maybe one month in) and said that I think we should do a price reduction cause, frankly, I would let the place go for 400. His exact words were, oh we shouldn't go down that low, how about 424. So I said OK. I live an hour away, I have someone mowing the lawn and I asked my realtor to tell me if it ever looked bad. I get there yesterday and its not looking good at all, and the house smells horribly musty and just needs a basic cleaning. At the very beginning I asked for cleaner recs from my realtor and he said he would help, which apparently consisted of moving one box. Me and my yard work helper scrambled to do as much cleaning as we could and mow the lawn before photos were taken (I got like 24 hour notice) and then I went back to my busy life an hour away. Long story short three weeks after the last price reduction my realtor says it needs to be reduced to under 400k and he always just approaches the whole thing like it is my fault, taking no accountability that he set the price less than two months ago. I did call him out for having an open house in a dirty smelly house and reminded him I had asked for recomendations for someone who would do the cleaning. In my book it is better to invest in cleaning and landscaping before slashing the price 40k. Somehow in our text exchange he just cancelled our listing and wants nothing to do with me. I was direct but it wasn't like I was swearing or anything. I am involved in a type of law that involves a lot of real estate sales, I had never seen so many price reductions in such close succession. One of the things I texted him was "where did the 440 price come from?" and I guess he couldn't take it and just cut the listing. It isn't like I don't know other realtors but I am super frustrated, I've been paying two mortgages so long and I have done nothing but follow his advice every step of the way. But I was not about to go into slashing the price 20k every two or three weeks. He has been a successful realtor before, I do know my house was his first listing that he left his bigger agency. I am just alarmed by the unprofessionalism and the lack of accountability. I wanted to understand if we just WAY over priced my house or if the market is actively tanking. But all he would say is "we are in this together." The house got a LOT of views, a lot of viewings, I would have expected people who thought it was over priced to make a lower offer at least. It makes me wonder about his sales ability. I, personally, believe I have a right to ask about a forty thousand dollar price difference in two months and I am really shocked by the behavior of this person that I used to consider a friend. I feel like when my finances are on the line I should get a little leeway for being frustrated. To me this is wildly unprofessional but I tend to have higher professional standards than most people abide by. Interested in input on the drastic, short term price reductions.