Taking house off market...and putting back on

oceanscape

We're having trouble selling our home. It was sold back in December (for the asking price) but the buyers pulled out in March, right on exchange of contracts. Since we went back on the market in March we've had maybe 2 viewings and no offers.

The agent isn't great and and when I asked why they think we weren't having interest I was told it's perhaps because the house looks like it has been on the market for ages so probably has something wrong with it (?!).

I was thinking of taking it off the market and then putting it back on with another agent in a month or so, so that when it does come back on it appears "new" and "fresh" to the market. Maybe put it back on at a slightly lower price (even though that would be mighty annoying given the fact house prices have risen since December and we HAD originally sold for asking price). What do people think of this strategy?

Thanks!

Wee_Willy_Harris

Are other houses in the area selling? Is your housed priced right compared with them? Are they with a different EA? What's the feedback been from the viewings you have had? Have you enquired what the local housing market is currently like?

CloudCuckooLand

Why did the buyer pull out ?

Being under offer does not qualify as "sold". Until all the details in preparing the contract are considered, any element could affect their opinion of the price they thought they would be willing to pay.

If there are, for example, 4 sellers/buyers for houses in your street per year, then you need to beat the other houses, not worry about the precise price you obtain. Knowing your local market is therefore very important.

If the remaining 3 (in the example) potential buyers spotted nearby properties that had a better balance of features for the price, or a lower price, then they would go for those rather than offering on yours...so you need to get ahead of the curve.

Being fixated on an unfulfilled offer may result in you chasing the market down, if the promised austerity period brings on fresh price drops. Have you researched sold prices fully in your area?, to be sure you are not being misinformed by generalised headlines about apparent price rises - which are not occuring everywhere.

Some buyers won't be fooled by leaving the market, but some will, so it is worth a try, with a change of agent and price at the same time.

PasturesNew

Not all houses have gone up. I've been looking at one in the past week that was new in 2006 at £195k, next door (identical) was resold in 2008 at £195k, seller put his on in 2010 at £195k, then it went to £189k, £184k, £179k... now it's on at £174k and it's still sitting there. Nothing wrong with it. Just prices haven't gone up on all houses in all areas.

Even now, I think it's a good price, but I'm not buying it as it's not the right house for me. I thought about offering £150k .... but if it's not the right house, then price is irrelevant.

Why not just have some new photos done/change the main photo from one showing the front to one showing the back ... or something.