One viewing a week?

genuineplacebo

Hi All,

We've had our house on the market since the end of January and at first had about 5 viewings in the first two weeks.

Since then we've had one viewing a week... I know the property market isn't great at the moment, but is 1 viewing a week still enough interest?

We have our property on the market at OIEO £215k, purely because we need £215k to have a big enough deposit to move to our next house. The house is in great condition, well presented and bigger than others in the same area. The Estate Agent agrees that it's on for the right price.

Really, I'm just getting a bit concerned that there isn't more interest...Would you be happy with one viewing a week?

Thanks!

xtra_time

I would love 1 viewing a week (first viewing since beg september coming tonight)

googler

I'm sure there's some folk in this fair land who would bite your hand off for one viewing a week.....

avenida

One viewing a week is brilliant! Ive had 3 viewers in 7 months!

Have you been getting any feedback or any offers?

Cannon_Fodder

genuineplacebo wrote: »

We have our property on the market at OIEO £215k, purely because we need £215k to have a big enough deposit to move to our next house.

Some buyers will not view if they can see from the particulars that it is overpriced. Some may view to check for hidden value, that may not be apparent on the particulars - and come away disappointed.

If no-one has offered at all, out of 8-10 (?), presumably they feel there is better value to be had elsewhere.

Just because you need a figure, doesn't mean you will get offered it.


Anecdotal - yesterday, when a relative was appointing their new EA, the EA used existing house particulars to demonstrate their "product". My relative, knowing the house in question, asked why it hadn't sold in over 12 months.

The reply "I expect its too expensive"...EA, has had no luck convincing the seller to adjust to the new market reality.

Its called chasing the market down, and for two years it has been seen using Property Bee that people are slow to re-adjust, stubbornly holding their figure high after a neighbouring property has already sold for a lot lower.

Better to be the first one sold, get on with enjoying the new place, than chase prices down and run out of buyers for your area/price/type.

Save up to boost your deposit, reduce the price and get moving.

Doozergirl

It's not exactly bad in the current market. If the viewings are steady then that is what you can ask for at the moment. I think that the calibre of people looking is better than it was though - it is people who are quite serious about buying a house now.

I personally feel uncomfortable with OIEO unless it's obvious that the asking price is low. In my own head it tells me that the buyer has high expectations and that the agent has suggested OIEO to let them down gently. It would disuade me from making an offer which is fair enough if I want to offer you less and you want more, but you never really get the feel for what people think it is worth.

What has the feedback on the property been? This is really important to try and get your EA to give it to you honestly as if there is anything that you can change, then you should change it if you are keen to sell.

Ultimately, you can't set your price at what you need; the market will set it's own price but the number of viewings would suggest you're not far out.

If you were feeling brave then you can post us a link for a critique!

avenida

Cannon_Fodder wrote: »

Its called chasing the market down, and for two years it has been seen using Property Bee that people are slow to re-adjust, stubbornly holding their figure high after a neighbouring property has already sold for a lot lower.

Better to be the first one sold, get on with enjoying the new place, than chase prices down and run out of buyers for your area/price/type.

Save up to boost your deposit, reduce the price and get moving.

Well said! I have my house on the market and we really need to get more for it but there is no point putting it on at an unrealistic price as I know we will not get any interest at all!

slbhill

You only need one viewer - but it has to be the right one!

We accepted an offer on our house a few weeks ago - house was on the market about 6 months and we probably had 10-15 viewers in that time (I didn't count particularly)

The question is - why haven't the viewers you've had made an offer? Have you asked your EA what the feedback is?

One thing I've noticed when viewing other houses is that some EAs are like rottweilers and will keep chasing after I view a place until they have feedback. Others don't seem to want any, presumably they figure if the viewer is interested they will make an offer but otherwise nothing to gain. As a buyer I get annoyed by being chased but as a seller it is sometimes useful to get the feedback - except in our case it was almost exclusively about something we couldn't change (location - opposite a school).

Fire_Fox

genuineplacebo wrote: »

Since then we've had one viewing a week... I know the property market isn't great at the moment, but is 1 viewing a week still enough interest?

We have our property on the market at OIEO £215k, purely because we need £215k to have a big enough deposit to move to our next house. The house is in great condition, well presented and bigger than others in the same area. The Estate Agent agrees that it's on for the right price.

Really, I'm just getting a bit concerned that there isn't more interest...Would you be happy with one viewing a week?

What you need and what your house is worth in the current market are two different things. Either you want more interest so you will need to reduce you asking price OR you need that price and you have to accept one viewer a week and no offers. You will only know your house was on at the right price once you exchange contracts.

secla

i dont understand OIEO in the current housing market. surely it would only work for very sought after houses etc. ? would any buyer offer more than 215k unless you have several people making offers ?