How long should we leave our house on the market?

myrina

We have had our house on the market since July last year. Our reasons for wanting to move are to be nearer to our son's school and my husband's work, and to have a larger garden, but we would be staying in the local area, so we are lucky in that we are not desperate to move. However we have seen another property we like and we have put in an offer on the other property which has been accepted although the other vendor is continuing to market his property.

Since we started marketing our house we have had around 20 viewings but no offers. Feedback from viewers is overwhelmingly positive with a few exceptions that we can't do anything about (e.g. the garden isn't big enough). We have also dropped the price twice this year (by around 10% in total).

Our house is a 4 bedroomed semi detached period stone cottage in a popular village location with largeish garden and off road parking. In my opinion it is really a family house although 90% of the viewers we are getting are older people (and as the house and garden has a number of steps it would not be suitable for anyone with mobility problems).

Should we continue to market our house or will the fact that it will soon have been on the market over a year put people off? Similar houses in the same area, including many that we have viewed, are also not selling after several months and another 4 bedroomed house in our village which is on the market at a slightly higher price than ours has been on for longer than ours.

We are considering 1. leaving it on the market as it is; 2. joint or mutiple agency (we are not sure that this would achieve much) or 3. 'giving it a rest' and taking it off the market for a while and waiting to see if the economy picks up/mortgages are easier to get etc. I'd really appreciate any advice or thoughts!

Thank you :A

Seanymph

I sent out my details to 12 agencies when I got aggressive for a sale of an old house - about 5 took it on, and one sold it from about 25 miles away - the people who bought it weren't looking in my area at all, but loved the house, came to view it and fell in love with it.

I can't see any problem with multi agency myself.

sonastin

If you leave it on the market, someone might buy it eventually. If you take it off the market, no one will buy it. If you still think you want to sell, you might as well leave it on the market and get on with your life - it isn't costing you anything but might just work in your favour.

If you're thinking of going multi-agent, you need to think what the new agents can bring to the party. If your current agent has produced a good ad and is marketing the property everywhere that people are looking in your area, what is the new agent going to do that is different which would justify the extra fee that EAs like to charge for being multi-agent. If you can get them both(all) to agree to be on as multi-agent for the sole-agent fee, again it doesn't cost you anything so might as well...

poppysarah

Ask the EA why they think it's not sold.

Is it pricey?

InkZ

If it's not selling, then it's probably price.

DannyboyMidlands

If it's been on since last July and hasn't sold (not even an offer) then the asking price is clearly too high. You should either drop the price and sell the damn thing or take it off the market. Anything else is a waste of everybodys time, including your own.

SailorSam

It's not costing you anything to leave it on the market, so why take it off.
Probably though it has gone stale, the EA just has it sitting in his window, put pressure on him to start earning his commission or move to another agent.
In the end anything will sell, it all comes down to price.

googler

sonastin wrote: »

If you leave it on the market, someone might buy it eventually. If you take it off the market, no one will buy it.

The ideal buyer for your house may well start looking, or has been looking and gets an offer on their own house, the week after you take yours off.

They may not care that it's been on the market a while if it's right for them.

Take it off the market, they won't see it, and won't buy it.

You never know who may be out there.