Ditch the price range?

honey_bee1384

I wonder if I could get some opinions from you all.

My house has been on the market for approx 8 weeks and is up for £165-185K which is in line with other similar properties in the road. It is a 2 bed mid terrace house in a popular FTB road in the southeast. Close to a station and a 30 min train journey into central london. It has a 22ft through lounge, approx 13ft kitchen and a 100ft garden & OSP.

So far we have a had in the region of 25 viewings and 2 offers, one at £150K & the other at £160K. Cant afford to take those. We know that one recently sold for £170K and that is smaller than ours. We were going to remortgage back in april & our house was valued at £170K then.

Do you think that the price range would be preventing any other offers? Wondering whether we should drop the range just put a fixed price. Or would by doing that make us look desperate.

We are miffed we havent had any better offers and the agent is also quite suprised. Different things are coming back on the feedback, so we know it isnt one thing causing an issue. I keep getting told "the more people we get through the door the more chance of finding that one right person" But I am getting sick of hearing that and dealing with time wasters, lol.

Any feedback greatly appreciated, this house selling/buying lark is turning me into a right moody mare.

If anyone wants to look here is the house

casper_g

Personally, I've never understood the point of a price range on a house. If you've advertised the fact that you'll accept £165k, who will offer £185k? I'd say if the minimum you can possibly accept is £165k just add a bit onto that and offer a single price.

ETA: Having had a quick look at the Rightmove listing, I'd add two points -- one, the green kitchen is bound to put some people off. Half an-hour with a pot of neutral coloured paint would stop that being such an issue (though obviously the tiles are harder to sort than the wall). The description is a bit basic too -- I'm always most interested in photos, and floorplans and room dimensions myself, but there must surely be something else to mention e.g. off-road parking, GCH etc? Even if you think they're obvious, somebody might search for specific keywords and if your house never comes up they'll never buy it!

Doozergirl

I don't like price ranges. You must know how much you want for the house - give people a clue! Why even put the lowest price to be lower than you would accept? In this market people only want to pay less than asking price which is why you will get low offers - they see a price and offer less - it doesn't even matter if your house is bargain of the week, most people haven't researched that throughly.

It would never occur to me to market a house with a price range. It is usual in England and Wales to market with an asking price that you will accept something close to. That is what people are used to, so why divert from that? It's hardly a marketing ploy - houses sell themselves, they just need to be presented correctly... I'd suggest with one asking price!

Play to what people are used to = setting an asking price, offering slightly under. If it ain't broke, don't try to fix it!

honey_bee1384

casper_g wrote: »

Personally, I've never understood the point of a price range on a house. If you've advertised the fact that you'll accept £165k, who will offer £185k? I'd say if the minimum you can possibly accept is £165k just add a bit onto that and offer a single price.

Thanks for your reponse.

To be honest I wasn't always happy about the price range, just preferred that agent over others. They seemed to want to sell our house and had a list of buyers that might be interested in it.

Ideally we want £170K and I thought that would be acheiveable going by recent sales in the road.

honey_bee1384

casper_g wrote: »

Personally, I've never understood the point of a price range on a house. If you've advertised the fact that you'll accept £165k, who will offer £185k? I'd say if the minimum you can possibly accept is £165k just add a bit onto that and offer a single price.

ETA: Having had a quick look at the Rightmove listing, I'd add two points -- one, the green kitchen is bound to put some people off. Half an-hour with a pot of neutral coloured paint would stop that being such an issue (though obviously the tiles are harder to sort than the wall). The description is a bit basic too -- I'm always most interested in photos, and floorplans and room dimensions myself, but there must surely be something else to mention e.g. off-road parking, GCH etc? Even if you think they're obvious, somebody might search for specific keywords and if your house never comes up they'll never buy it!

I am so confused! There was aload of info that seems to have been taken off of the listing. Everything you have commented on was all detailed.

Here is some more info http://www.wardandpartners.co.uk/searchresults/property-details-full.asp?PropertyID=14704994&searchGUID=2009127152935&fromFaves=

Doozergirl

It comes up on rightmove as from £165,000 anyway - people are going to interpret that as your asking price - it's only underneath in small letters that it gives the price range. So this price range is an excercise in self defeat!

It's a cute house, the lounge is lovely though the green walls in the kitchen would be magnolia if I were selling it and the pelmet above would be gone. There is a lot of blue and green even without the walls.

honey_bee1384

Doozergirl wrote: »

I don't like price ranges. You must know how much you want for the house - give people a clue! Why even put the lowest price to be lower than you would accept? In this market people only want to pay less than asking price which is why you will get low offers - they see a price and offer less - it doesn't even matter if your house is bargain of the week, most people haven't researched that throughly.

It would never occur to me to market a house with a price range. It is usual in England and Wales to market with an asking price that you will accept something close to. That is what people are used to, so why divert from that? It's hardly a marketing ploy - houses sell themselves, they just need to be presented correctly... I'd suggest with one asking price!

Play to what people are used to = setting an asking price, offering slightly under. If it ain't broke, don't try to fix it!

Thanks Doozergirl. I am going to speak to my hubby this evening and see about getting it changed to a fixed price and see if that makes a difference.

puddy

i knew before even looking that you're on with ward and partners.

this has been driving me mad for yonks. we were looking for a good year before moving in june this year. we saw loads of properties with ward and partners and really could not understand the point of the price range. if you saw a car with a price range on it, what on earth would you think.

personally i think it puts a lot of people off.

i havent read the whole thread yet, but will do, just wanted to reply to stop me shouting at the screen!!!

honey_bee1384

Doozergirl wrote: »

It comes up on rightmove as from £165,000 anyway - people are going to interpret that as your asking price - it's only underneath in small letters that it gives the price range. So this price range is an excercise in self defeat!

It's a cute house, the lounge is lovely though the green walls in the kitchen would be magnolia if I were selling it and the pelmet above would be gone. There is a lot of blue and green even without the walls.

Again thank you. That is an interesting point. We really need to address the pricing thing.

We have A LOT of magnolia so will paint the wall. The kitchen is how it was when we bought in 2005, lol. We did buy some net curtains for the kitchen should we put those up if taking the pelmet down?

I am appreciating the suggestions. I keep asking the agent if there is anything else we can do to the house and they never get back to me.

puddy

i think its a nice house but lack of a full bathroom would put me right off, you might be more realistic wanting 165ish

why not stick it on at 170 and hope to get close to that.

puddy

if you;re handy with tile paint and masking tape you could paint the green tiles magnolia or cream and then your kitchen would be cream and blue, much more pleasing,,, or try to find some cream coloured tile stickers that go right over the tile