House Selling Tips and Guidance

Lost_Prophet

Hi,

We are looking to upsize our house due to a change in personal circumstances. I would find it helpful if you could offer us some tips and guidance, for those who have been in a similar situation

Some helpful info is as follows:

• We have had the property listed for 6-7 weeks
• We are currently on a sole agency deal with a local, but prominent agent (4 weeks left)
• We are looking at a dual agency from Friday
• We have had a fair bit of interest, just no offers
• We had the property valued from 4 agencies, all ranging between £150k to £160k
• We have reduced our price from the mid-value given recent sales in the area
• This is the lowest price we would be prepared to accept (i.e. no negotiation)

We are far from desperate to sell, but would like to speed up the process as we have a few new builds in mind and the longer we wait, naturally the more risk there is of them been sold

http://www.rightmove.co.uk/property-for-sale/property-57467309.html

Cheers,
SB

melstar11

Instructing dual agents is likely to make you look desperate. The current agent has the house priced right (you are getting viewings), just no one has offered yet so they are doing what you need them to.

Fwiw I think the house is nice and tidy, but a bit bland. It almost looks like it's tenanted as it isn't as homely as it could be and it's all magnolia walls, no pictures, minimal furniture.

There are a couple of things I would do: put the office in the smallest bedroom and show that second bedroom as a good sized double bedroom. The living room configuration makes it look really awkward to sit on the sofa and watch TV. Can that be re-jigged? Then get the photos re-taken in the better light that is around now and make sure they show the rooms at their best. Showing the garden first is odd: people start wondering what's wrong with the house so I'd re-think the order.

melstar11

Sorry - it's the photos that make the TV look as though it's on an awkward angle. I should have clarified too: how much interest are you getting? Viewings every week?

LittleMax

Next door was better presented. Looking at their living room, your layout is awkward. They sold for £140 in April 2015, yours is worth the same plus whatever the market has risen, so I think you are more realistically priced now, but expect any offers to be closer to £145.

ThePants999

If you would reject any offer below the asking price, it shouldn't be listed as "offers in the region of".

iantojones40

LittleMax wrote: »

Next door was better presented. Looking at their living room, your layout is awkward. They sold for £140 in April 2015, yours is worth the same plus whatever the market has risen, so I think you are more realistically priced now, but expect any offers to be closer to £145.

Why do you automatically assume "the market has risen" in this particular area in the last 12 months?

Lost_Prophet

Thanks all, really helpful feedback. Will look to address some of these points over the weekend where possible

Any other tips to consider?

RE: iantojones40 - Other similar properties have been selling for the £150k mark in the same postcode area so the market has risen albeit slightly. TBH, the next door house that sold was a bargain and she was desperate to sell (bought the place and was never there!)

RE: melstar11 - We have not had any viewings for around 2 weeks which is what is making me think of shifting agents (well, multi-agent for 4 weeks until contract end)... I get the distinct impression they have dried up their list of contacts as the calls were flowing at first but now none even after a price reduction

eddddy

Lost_Prophet wrote: »

• We are currently on a sole agency deal with a local, but prominent agent (4 weeks left)
• We are looking at a dual agency from Friday

Has your current EA agreed to change your contract from 'sole' to 'joint'?

In my experience, most EAs would push back and make you honour the original agreement.

If so, is it just for 4 weeks - or a new 12+ week contract?

I always find you can negotiate better terms from your EA after you are beyond the minimum period (i.e. for you, in 4 weeks time).


Edit to add...

An example of negotiating for better terms might be "The minimum contract period is up. I can either cancel the contract, or would you prefer to stay on as a 'joint agent' at the same commission as a 'sole agent'?"

melstar11

If you haven't done already, you need to have a conversation with the agent and ask them what their marketing strategy is for your house at this juncture? They should be suggesting what can be done and it shouldn't just revolve around dropping your price. I think you should re-market and get the details out there to everyone receiving alerts from Rightmove, etc.

What has the feedback been? You need to always get feedback after a viewing and any common themes may be things you can act on.

visidigi

Is that a mark on the tarmac out the front? Oil? Or just a wet patch in the shade?

As for the price - like my local estate agent explained to me - list at a round number, as that's what right move searches by - being 147995 actually puts you right in the middle of houses in a list, rather than being at the lower or higher end of the budget of the person searching...

LittleMax

iantojones40 wrote: »

Why do you automatically assume "the market has risen" in this particular area in the last 12 months?

I didn't assume - I had a look at other sales within a quarter of a mile and at Zoopla. I also noticed OP had already consulted Zoopla as they had added a 'Tempt me' price.

Lost_Prophet wrote: »

Other similar properties have been selling for the £150k mark in the same postcode area so the market has risen albeit slightly. TBH, the next door house that sold was a bargain and she was desperate to sell (bought the place and was never there!)

But when looking at valuing, that sale will still be taken into account. Personally I am also wary of properties where they are selling shortly after a new neighbour has moved in. I worry that that is the reason for selling. Unfortunately there is absolutely no way to check this out, so I steer clear just in case.