Selling house - Estate agent set wrong price

water_woe

Hi

I am selling my house and had it up at £189,950 with an agent. Then when they didn't get much interest in my house (2 viewings) in their 14 week period I left them and went with another agent.

The new agent suggested that I put the price down, but I told them to keep the price at £189,950, and they agreed and put it down in writing in their estage agent agreement.

Now they have put my house up on their website at a lower price of £184,950?!?

I have been told that once a price for your house is out there then you can't increase it, only decrease. So I wouldn't be able to get them to put it back to the correct price now that it is up and on the internet.

Is there anything I can do, other than tell them off or get them to put the price back up? Is there any complaints department/ ombudsman for estate agents? Or am just going to have to just accept what they have done?

Thanks

ILW

Tell them to put the price up.
Just a phone call.

DRP

water_woe wrote: »

Hi

I am selling my house and had it up at £189,950 with an agent. Then when they didn't get much interest in my house (2 viewings) in their 14 week period I left them and went with another agent.

The new agent suggested that I put the price down, but I told them to keep the price at £189,950, and they agreed and put it down in writing in their estage agent agreement.

Now they have put my house up on their website at a lower price of £184,950?!?

I have been told that once a price for your house is out there then you can't increase it, only decrease. So I wouldn't be able to get them to put it back to the correct price now that it is up and on the internet.

Is there anything I can do, other than tell them off or get them to put the price back up? Is there any complaints department/ ombudsman for estate agents? Or am just going to have to just accept what they have done?

Thanks

who told you that? it doesn't seem to make sense as the 'price' is actually just a guide price anyway.

googler

water_woe wrote: »

I have been told that once a price for your house is out there then you can't increase it, only decrease. So I wouldn't be able to get them to put it back to the correct price now that it is up and on the internet.

True, in the sense that it will look mighty strange to anyone using PropertyBee, or who keeps a close eye on price trends - but you're the client; you're the one paying for their services; so if you want it priced as before (although I can't see why you would), you tell them what price it will be marketed at.

water_woe

Yeah, it's for these online websites that keep a record of any changes in prices etc. and it will look a bit weird for me to put it back up. I think I'm just going to leave it now, and see how it goes.

googler wrote: »

True, in the sense that it will look mighty strange to anyone using PropertyBee, or who keeps a close eye on price trends - but you're the client; you're the one paying for their services; so if you want it priced as before (although I can't see why you would), you tell them what price it will be marketed at.

Because, in this market, people are not paying anything close to asking prices, so to list it £5K lower than I wanted, I'm going to be looking at at least another £5K below what they have put it up as. But I think I'm going to leave it as is now for the reason stated above.

Would you keep the drop in price, even though you told them not to?

andy.m_2

you got no interest at your target price for 14 weeks and you want thing to continue as they are???

My word.

googler

water_woe wrote: »

Would you keep the drop in price, even though you told them not to?

Yes. You've tried it at the higher price, nobody took the bait. The only way to go is to reduce it, unless your new agent is doing something radically different in terms of promotion and marketing to the first.....

p00hsticks

water_woe wrote: »

Because, in this market, people are not paying anything close to asking prices, so to list it £5K lower than I wanted, I'm going to be looking at at least another £5K below what they have put it up as. But I think I'm going to leave it as is now for the reason stated above.

Would you keep the drop in price, even though you told them not to?

But hasn't the fact that you only got two viewings with your previous agent demonstrated to you that also in this market, peopel won't even bother to consider looking at anything they perceive to be overpriced ?

DannyboyMidlands

£184,950?! Unbelievable incompetence. With a measly 2 viewings in 3 months, it should have been £164,950.

googler

DannyboyMidlands wrote: »

£184,950?! Unbelievable incompetence. With a measly 2 viewings in 3 months, it should have been £164,950.

How many viewings should there have been in 3 months? (Bearing in mind you know nothing about the property, where it is, what the local market is like, etc.)

neilem

Keep the dropped price.

It will look strange increasing it, as already pointed out. And you've only had 2 viewings in over 3 months, you should really have suggested a price drop anyway. If something doesn't sell, there is hardly any point in keeping it at the same price during a decreasing market... otherwise you'd be left chasing the market down.