How long before we reduce the price??

michjoe

How long would you leave your house on the market before you reduce the price??
We put our house on the market mid last year had quite a few viewings and actually sold at one point but the sale fell through, we decided to change estate agents just after christmas and it has been on the market about 3 weeks now. I just want some advice as to when to start thinking about reducing the price as we have reserved a new build property.

benood

THB I would wait for a while - it's a quiet time of year you've had one offer last year - rather than reduce the price I think I might take it off until Easter and do any housedoctoring stuff then relaunch directly after Easter, if it's still quiet after 3 months cut the price.

michjoe

Thanks for the reply. We did all the house doctoring stuff before we put it on the market, just really fed up now and want it sold, I suppose I just have to be patient.

lynzpower

where abouts in Mcr are you ?

are you getting viewnigs & not offers? Or not the viewings?

michjoe

lynzpower wrote:

where abouts in Mcr are you ?

are you getting viewnigs & not offers? Or not the viewings?

We are in Oldham, before Christmas we were getting quite a few viewings our house is a four bedroomed property so it was attracting alot of large families and since we have put it on the market with a different well known EA we have had one booking to view but they didn't turn up which is relly annoying.

michjoe

It has been on the market with the new agent for about three weeks now.

Jim_B_3

If you wait long enough the value of the house will eventually reach any price you care to set. How long can you wait?

Mrs_Optimist

IF you have had no viewings in three weeks your EA is doing something wrong. I speak from experience. We instructed an EA in Oct to market our house - no viewings whatsoever until we signed with a second EA on a joint instruction - whoever sold got paid. Our first EA then produced some (two!)viewings which were little more than timewasters. We sold our house through the second EA within two weeks - one of which was Christmas and are about to exchange. We didn't reduce our price either. Have you checked your asking price is realistic? That may put potential viewers off.

michjoe

Mrs_Optimist wrote:

IF you have had no viewings in three weeks your EA is doing something wrong. I speak from experience. We instructed an EA in Oct to market our house - no viewings whatsoever until we signed with a second EA on a joint instruction - whoever sold got paid. Our first EA then produced some (two!)viewings which were little more than timewasters. We sold our house through the second EA within two weeks - one of which was Christmas and are about to exchange. We didn't reduce our price either. Have you checked your asking price is realistic? That may put potential viewers off.

We had a viewing booked for Thursday but they didn't show, no apology or anything, EA phoned yesterday to say they had a viewer for us when she told us the name it was the one who was supposed to come on Thursday!! Anyway he viewer turned up today, one hour early, had a good look round, so just keeping our fingers crossed now.
We have the house up at a very realistic asking price we have compared it with loads of houses nearby, some of which have sold and some still on the market. Also the house is up for £115k or 'offers in the region of', so we're not stuck at that price.