Been on market 4 months and no viewings!

bowieben2

Hi

My girlfriend and i have had our flat on the market for about 4 months now, and had no viewings at all. We had one viewing arranged and then cancelled about 6 weeks ago, but thats it. this is the link on Rightmove:

http://www.rightmove.co.uk/property-for-sale/property-30055763.html?premiumA=true

Does anyone have any advice? We spoke to the estate agents about lowering the price, and they said they didn't feel the price was the problem and they advised us to offer a 5% deposit incentive, which we have done about a month ago, but has made no difference.

My girlfriend bought the flat in November 2007 for £114,000 so we cant afford to lower the price too much. We hear very little from our Estate Agents and im convinced that aside form having the flat in their window and on their website they arent actually doing anything else! We are on other estate agents mailing lists and they contact us a lot, but we hear noting from our agent. Do you think it would make a difference to change Estate agents? and can we do that??

Thanks
Ben

mynameisdave

Pictures seem to show the place positively (not sure why there are some that just appear to be of nothing/a door though).

However, 10K cheaper on the same street http://www.rightmove.co.uk/property-for-sale/property-25850167.html and kitchen cupboard fronts aren't that expensive to replace!

On with the same agent (which explains the photos of doors again)

On at same price as you in May but reduced, I assume as they were having no joy.

Looks like price is the problem here.

Jowo_2

Why is your flat worth 10k more than another one up for sale in the same street?

http://www.globrix.com/property-details/24997957-fieldway_close-leeds-ls13-2_bed-flat

The flat will sell at whatever someone is prepared to pay for it and what you are prepared to accept, NOT what you 'need' it to sell for because of the original purchase price.

Riq

It's always price.

WestonDave

In general it all looks nice, however there is a bit of picture overkill - they'd be far better off taking some of them down (the hall, entrance hall, the exterior view ones of some leylandii and houses and reducing the number of the kitchen and lounge) and putting in a floorplan so people can get a feel for how its laid out.

The other thing that might work is to put a bed in the second bedroom rather than the sofa - its not clear from that picture that you could get a full size bed in that room which may be putting people off.

bowieben2

Yeah i know the other flat and what youre saying is exactly what weve said to our estate agents. Our flat is nicer and better presented, but yeah i understand new cupboard doors and a re-paint probably doesnt justify a £10k difference. Do you think I just need to be more forceful with the EA and drop the price even though they are advising us not to?? They were saying the problem is lack of FTB's so offering the deposit incentive would help them.

My worry is, that other flat has been on almost as long as ours and its still hasnt sold, so I dont even know if dropping it £10grand is going to help either.
Im tempted to change estate agents as I just dont think theyre being very helpful or actually doing anything. Would this make a difference and are there any problems in doing that??

Thanks for your replies

westv

I see that the last two flats in your postcode sold in 2007

No. 36 Fieldway Close Nov 07 £114,000
No. 25 Fieldway Close Aug 07 £82,500

Do you know what these places are like?

According to the Land Reg figures Leeds prices have fallen about 12% since then

Edit: I also see that 21 Fieldway Close sold for £77,000 in Sept 08.

Squish_21

I am in a similar situation to yourself, with trying to sell a flat which I bought in Jan 07.

My thinking is that there is a lack of FTB's as they are too scared to jump on the property ladder right now.

The 5% gifted deposit sounds like a good idea, will it come out of the profit you make on the flat or your own savings?

Have you thought about renting it out?

Squish_21

bowieben2 wrote: »

Yeah i know the other flat and what youre saying is exactly what weve said to our estate agents. Our flat is nicer and better presented, but yeah i understand new cupboard doors and a re-paint probably doesnt justify a £10k difference. Do you think I just need to be more forceful with the EA and drop the price even though they are advising us not to?? They were saying the problem is lack of FTB's so offering the deposit incentive would help them.

My worry is, that other flat has been on almost as long as ours and its still hasnt sold, so I dont even know if dropping it £10grand is going to help either.
Im tempted to change estate agents as I just dont think theyre being very helpful or actually doing anything. Would this make a difference and are there any problems in doing that??

Thanks for your replies

You can set the price at w/e you like, dont have to listen to the EA's advice.

casperlarue

Check your contract with your current EA, are you tied in to a minimum number of weeks before you can give notice?

No viewings at all would suggest it's too expensive. I would think your target market is FTB's, or single/couples with no kids. What does your flat have that no other has, to tempt people in?

A quick search on Rightmove for LS13 postcode gives 11 2-bed flats, 80k to 100k, yours is the most expensive.

Otherwise your flat is very well presented, but there does seem to be overkill on the photos!

bowieben2

WestonDave wrote: »

In general it all looks nice, however there is a bit of picture overkill - they'd be far better off taking some of them down (the hall, entrance hall, the exterior view ones of some leylandii and houses and reducing the number of the kitchen and lounge) and putting in a floorplan so people can get a feel for how its laid out.

The other thing that might work is to put a bed in the second bedroom rather than the sofa - its not clear from that picture that you could get a full size bed in that room which may be putting people off.

Yep youve got a good point there! I totally agree now you mention it, ill sort out with the EA taking some pictures off and maybe adding a floorplan.

And good point with the bedroom too, it is a small room but it is plenty big enough for as single bed we had one in there till recently. But I think it does look smaller on the pic. Ill see about getting the single bed put back in, at least just for the photos.

Thanks!