Selling a ShowHome - Any Advice?

grazzyman_2

Hi,

I am currently trying to sell my showhome. My agent has not managed to get any viewings (in 8 weeks) and I'm beginning to loose my patience with them. I have reduced the price to £10k below valuation but still no luck.

I have looked at their marketing material and they have not explained at all that the property is a showhome and comes with £20k of extras, landscape gardens etc.. Barratt homes have details of the property on their website which gives a much better description. (http://www.oakleafhomes.co.uk/site.cfm?intDevID=5375)

Does anyone have any advice how I should market this property? Should I continue to use my estate agent? I'm suprised that there have been no viewings. Are there any other methods I could explore?

Any advice would be greatly appreciated.

Cheers,

Grazzyman

ps. Just to you can compare, here's a link to the ad my EA put on rightmove.
http://www.rightmove.co.uk/viewdetails-15678017.rsp?pa_n=1&tr_t=buy

olly300

Most properties on rightmove or findaproperty have photos of:
1. Kitchen
2. Bathroom
3. Master Bedroom
4. Living room
5. Garden
6. Front of house

e.g. http://www.rightmove.co.uk/viewdetails-8100087.rsp?pa_n=1&tr_t=buy

I suggest you get your EA to put more pictures on.

Secondly the room sizes should be mentioned e.g.
http://www.rightmove.co.uk/viewdetails-16276040.rsp?pa_n=1&tr_t=buy

BTW the postcodes where put in at random.

Vampgirl

My gut instinct is that if you're not even getting any viewers that you are over priced. There is an identical house to yours on rightmove for 5k less than yours - if I was buying I'd try for that one first. Regarding the "20k of extras" they will have already been taken into account in the valuation.

I would suggest asking your agent to put more photos and a better description on rightmove...I know that the full brochure is there to download that has all photos, but not everyone knows about this/bothers to check it.

Alias_Omega

What you think is nice, might be horrible to someone else.

If you want to sell it, the price would need to be reduce to match / beat the others.

Can you take the extras with you.?

grazzyman_2

Hi,

Thanks for the replies. Yes I can take the extras with me. The furniture, beds, sofas etc. were not included in the valuation, however, the fitted bedrooms etc would have made an influence on the price.

The other house on rightmove is actually two doors down from mine. I would have thought that the showhome was competitively priced as it is up for £5k more but has absolutely everything in it. I am currently getting prices for fitted wardrobes in my house and couldn't beleive the prices quoted so I know that the extra for the showhome is more than worth it...maybe I'm approaching this the wrong way!? Maybe people just look at the 'headline' price only now and do not consider the differences.

It's a difficult situation. I'm sure if I get some viewings it will go quickly.

Grazzyman.

Alias_Omega

How about a bottom price, then add in that the extras can be bought on top..

Woby_Tide

olly300 wrote: »

Most properties on rightmove or findaproperty have photos of:
1. Kitchen
2. Bathroom
3. Master Bedroom
4. Living room
5. Garden
6. Front of house

e.g. http://www.rightmove.co.uk/viewdetails-8100087.rsp?pa_n=1&tr_t=buy

I suggest you get your EA to put more pictures on.

Secondly the room sizes should be mentioned e.g.
http://www.rightmove.co.uk/viewdetails-16276040.rsp?pa_n=1&tr_t=buy

BTW the postcodes where put in at random.

most of those details including floor plans are n the full brochure linked to on teh right though. This seems to be quite common with a few agents round here that the rightmove bit is just a placeholder to another website

phlash

Presumably you are number 12, since number 4 would be a terrace, and number 8 is the house you eluded to that is for sale two doors down. That means you bought at £196,950 almost exactly a year ago. (Ourproperty.co.uk)

Maybe the market in your area is not willing/able to accept the £13,045 increase that you have put on. When you look at it from the point of mortgage costs (the ability of people to afford the property), a person 1 year ago putting down a 10% deposit would have repayments of £1020 (4.75% for 25 years). To buy the same house now, at your asking price with a higher borrowing rate would be £1232 per month. (6% for 25 years)

Your market to sell to has therefore reduced, yet you're commanding a higher price. By the looks of it, the market is telling you from the lack of viewings, that the price is too high to afford under current market conditions. 8 weeks is surely enough time on the market to allow you to conclude this.

A better profile on rightmove may help you, but at the end of the day there are fundametals at play here.

lucysmum_2

I dont mean to be thick but how is this a show home, I thought builders sold showhomes. If you have lived in it it is second hand.

littlesos

lucysmum wrote: »

I dont mean to be thick but how is this a show home, I thought builders sold showhomes. If you have lived in it it is second hand.

Well I'm being thick too! It's not a showhome anymore, it's now second-hand and the premium you paid for having it nicely decorated/furnished isn't valid for another buyer. You'll be taking all the nice furnishings with you.

I wouldn't pay more for an ex-showhome, and definately not if there was an identical house for sale in the same road. Sorry.

BrixMorta

As a rule you pay a hefty premium for a brand new home. It's now second hand and that premium has fallen a way. You may only be looking now at what you paid for it a year ago.