I'm about to tell you a horror story of a man who listed his home with a friend. He listed it in May; a HOT, HOT time in the St. John's real estate market. It was a 2 apartment - people were going mad for real estate especially 2-apartments - but it didn't sell!

Why Did This Home Sit Unsold on the St. John's MLS

Five months and five price reductions later it's STILL on the market! Was it priced too high in the beginning? Maybe. Did it not show well? No, it did show well. It was empty and, according to home stagers, that's a no no. But it was clean, spacious, had nice finishes, and a great apartment.

I'm sure I could come up with a lot more possibilities as to why it hasn't sold, but why bother? The reason is glaringly obvious. It is listed on the St. John's MLS as a "single family" home not a "2-apartment". ALL those people searching the MLS for 2-apartment homes, well, it flew right under their radar, they had zero, nada, nil chance of finding it!

I couldn't believe it! If my hair wasn't so short I would have torn it out in frustration. It was a listing that one of my team had been courting. That's why I discovered the problem. I noticed it was still on the market and wondered why. Well, make no wonder! By the way, another price reduction came in yesterday. At that point I could take no more; I had my assistant phone the owner and give him a heads up. Should I have phoned the Realtor instead? What do you think?

Listing Your Home with a Friend is NOT Necessarily a Bad Thing

So, is this another cautionary tale of why you should not list your home with a friend? Yes and no. Sometimes listing with a friend is a good thing. Many excellent Realtors have lots of friends, and those Realtors are a smart choice since they are excellent Realtors.

In this particular case I'm talking about, the Realtor is a good enough guy. No red flags personality wise. As a Realtor though, you could say there was at least one red flag at half-mast. He was an inexperienced agent with no track record. What's a seller to do? If you really want to help establish your friend's career, do your own due diligence. Do some research online about selling a home. If it doesn't sell, get a few friends to check out the listing online. Maybe they will spot a problem. Keep an eye on the competition. It's easy enough to do. Have your agent friend sign you up to receive notices of competing listings as they come to the market. With relevant market data you know where your home fits in the market. If your home just sits there, while everything else is selling, there's a problem. It's either marketing or pricing. In the case above, it was marketing, but they kept adjusting the price. It's almost too painful to even write that last sentence.

I'm not saying I never make mistakes. I do. We all do. But as an experienced, professional Realtor I have created systems that help me avoid mistakes, costly or otherwise.

If you want a stress free experience when selling your home, hire an experienced Realtor. Look for a strong track record, at minimum, an efficient admin assistant, a visible web presence, and a solid marketing plan. On the other hand, maybe you value helping a friend. If that's the case, do so, but don't relax because a licensed Realtor is selling your home. Do your "home"work, a license is one thing, experience is quite another.

If you are thinking about buying or selling a home in St. John's area, or have questions about real estate in general, please call or email. I am always available to help.