EA suggests dropping price, what to do?

thor

If there are three identical properties which are equally priced and none are selling then your EA may be right about lowering the price.
By how much is the real question though. If two have gone for £1500 less then perhaps you should knock that much off yours?

Caveat_Mortgagor

Forget what someone said about the garden being hard work.

Its a garden where I could happily pass a few hours with a glass of wine! Especially if it is as peaceful as you allude to. Sometimes a little work gets its rewards, you will find someone with that attitude towards your garden.

Having said that, any sensible buyer will notice that semis on your street have sold for £105k, and £122k in the last 3 years.

I cant offer any more help than that - sorry (at least you arent the person next door who bought for £156k right at the height of the boom - bet they wish they had bought 8 years earlier for £53k....... Thats got to hurt!!!!!)

DannyboyMidlands

Drop the price.

nearlyrich

Regardless of the price the pictures and description don't really do anything to sell the property.

Estate agents seem to have discovered the wide angle lens and they take pictures that really look dreadful.

Clear the decks (fridge magnets etc away) and get them back for some better pics for a start and ask them to look at the descriptions and the language they use. They need to make it sound more desirable than other local properties so people will come and look.

skaye

thank you all for the advice. I agree about the photos Nearlyrich as I did think they made the house look odd and I was never happy with the front of the house shot. I have 10 days left on my contract with this EA and am thinking maybe a new EA and new photos and a new price may be the way forward - a complete re-marketing may get some thing started?

Especially thanks to Caveat Mortgagor about the garden - I think it is a unique selling point and even though I was woken today before 7.30 with next door having all their trees and bushes lopped it has actually made my garden look a lot bigger and lighter!! (thanks to their LL!!) And you are absolutely right I would be gutted if I was next door although they do have a conservatory and the previous owner did suggest they were planning to extend!! thank you again. Sx

skaye

Well the latest is - I had another agent round and they valued it at the same but did agree that a small drop in price would make it more competitive which I agree with and so I have agreed to go with them for a 'new' approach and new price. Had the fun task of ringing the current EA and telling them that I would not be renewing my contract when it comes to an end on Tuesday 23rd August (interestingly they didn't ask why although pointed out that the new EA was also marketing my property - not convinced about this as have discovered one of the other properties the same as mine has had an offer and has had viewings in the time that mine has not). Have been told that I need to put this in writing which is fair enough although not written anywhere on their contract and been told that I needed to have given a weeks notice to end the contract and therefore the new EA cannot start marketing it until 31st August. I am a little perplexed as again it does not say anything about 'giving notice' on the contract and surely if it is fixed length contract that comes to an end on a certain day then that is the end?? I am planning to query this unless anyone else has any suggestions?? Thank you again and maybe I will be sold soon!

puddy

the new EA can start marketing surely?

nomoneytoday

There's a balance, cheaper properties will sell quicker on average, all else being equal.

( However, houses aren't like books and cds, and aren't usually "equal" )