To those selling in these difficult times Part Deux. AKA sellers support network!

TheMiner

Suppose I should start my tale now (hoping it won't be a long one). So far been on the market for a month. Have dropped price twice tho before second drop hit the internet, I had a viewer who liked it, offered roughly what I had hoped for initially and was paying cash

Needless to say I accepted, ran around cheering for a bit and instructed my solicitor.

She was from up north and was looking for a weekend kinda place to stay when she was in the area and thought my little flat was perfect. She got home, told her hubby who said no. :mad:

Great

monkeys_bunny

you dropped the price twice in the first month? did i read that right? can i ask how come?

sonastin

Karmacat wrote: »

Totally agree with the last few comments. Feeling a bit odd, though, about a conversation I've just had about the house I'm buying - my first viewing was through another EA, and then it was put with two other EAs. Now the first one has rung me up saying things like "your first viewing was with our goodselves so the purchase should be through us".... I was very, very uncomfortable, and told him so, and he actually laughed when I said "but I didn't want it when I saw it with you" (and I didn't, truly). So I said I wasn't getting involved between two estate agents, and they could sort it out between them. Anybody have any hints about what to do in this situation?

I'm in a similar position from the otherside: right at the end of the notice period to ditch EA1, they tried to arrange a viewing for someone who had cancelled twice already. (If they had done something about following up the cancellations, they might not have been ditched!). I declined the viewing and was contacted directly by the potential buyer. EA1 claim that it is their sale but I disagree. This forum (see my other thread "What counts as an introduction") has been really helpful in backing up my view. New EA doesn't want to handle the sale because they agree it should be EA1 so have volunteered (admittedly not in writing so I'm not holding my breath but it was their idea) that I only have to pay nominal marketing costs if this ends up as a sale even though strict interpretation of their Ts&Cs entitles them to full commission. So basically I am dealing with this one myself and I'll be working out who I have to pay what to if the sale goes through!

Potential buyer is coming for first viewing tonight and there is a little bit of me hoping that she doesn't like it so I don't have to find out the answer!

TheMiner

monkeys_bunny wrote: »

you dropped the price twice in the first month? did i read that right? can i ask how come?

Had a few viewers who thought it was a bit pricy (think the estage agent was a bit optimistic with estimation of what I could get). Had a few since who still think it is to be honest.

It is unoccupied and costing me money so the sooner the better

[Deleted User]

we contacted our solicitor re preparation for selling and we had all the documents last week. We sat down and filled them all today and it took hours because we are leasehold and had to copy endless pieces of paper. Be warned if you are trying to exchange quickly after getting an offer accepted as the groundwork could hold things up if you have to send for papers. Luckily we had them all but most people will be scratching around

monkeys_bunny

TheMiner wrote: »

Had a few viewers who thought it was a bit pricy (think the estage agent was a bit optimistic with estimation of what I could get). Had a few since who still think it is to be honest.

It is unoccupied and costing me money so the sooner the better

ahh i see, just some people look on those sites which tell you the history of the sale and some people would think it was strange or somethign wrong with it. but im sure if you explained, if they asked, then it all makes sence

goood luck

heygringo

monkeys_bunny wrote: »

ahh i see, just some people look on those sites which tell you the history of the sale and some people would think it was strange or somethign wrong with it. but im sure if you explained, if they asked, then it all makes sence

goood luck

But that's the problem with a price reduction. Especially if it's a big, or even a 2nd or 3rd price drop. It automatically puts in viewers minds that there could be a problem, when in fact there isn't, merely that the vendor can afford to drop the price to attract a quicker sale.
From our original EAs valuation, we have dropped the price twice, & it hasn't made the slightest difference. We have been told by our EA, that if we drop it another 5K, it will bring in another 42 viewers on their books into that price range. A 5K drop to us, is a 5K drop, on top of our other price reductions, but to the EA, it's just a £75 drop in their commission take.
Ah well, onward & upward.
Good luck to those with viewers this weekend. We ain't got any.:(

BeeJay

daisbuys

I have had mine on the market for 5 weeks and only 2 viewings.

The EA has told us that the house we are interested in and is absolutely perfect for us for our forever home has dropped their price by 10k, so in the same breath I told the EA (which is also mine) to drop mine to 10k also.

Lets hope something comes of this as I won't be able to drop anymore....

Just hope people don't think theres a problem because of the early price drop!

[Deleted User]

second viewing is cancelled after yesterday`s buyer discussed with her dh. Too small

oh well at least we had a decent amount of notice

so now I join the ranks of those with pricked bubbles

not_loaded

heygringo wrote: »

But that's the problem with a price reduction. Especially if it's a big, or even a 2nd or 3rd price drop. It automatically puts in viewers minds that there could be a problem, when in fact there isn't, merely that the vendor can afford to drop the price to attract a quicker sale.
From our original EAs valuation, we have dropped the price twice, & it hasn't made the slightest difference. We have been told by our EA, that if we drop it another 5K, it will bring in another 42 viewers on their books into that price range. A 5K drop to us, is a 5K drop, on top of our other price reductions, but to the EA, it's just a £75 drop in their commission take.
Ah well, onward & upward.
Good luck to those with viewers this weekend. We ain't got any.:(
BeeJay

Are you going to be absolutely rigid on price then, if you get a very proceedable buyer? I’d have thought a £5k drop would be the clincher for the ‘deal’ as everyone likes to feel they’ve negotiated and won. (the old win/win situation)

You’ve got yourself into a bit of a corner if you’ve no offer room on the price.

As regards ‘42 viewers on their books’ are you sure they’re being honest? I’ve had EAs approach me to get us on their books with quotes like that. I always ask them to put it in writing to me, and to date not a single letter has turned up!

A good EA would surely be talking to at least some of the 42 viewers along the lines of ‘hey, there’s a great house you’re missing out on, all for the sake of paying £5k more!’