Using two estate agents.

Greyhorse

Long story short, found house we love before we've sold (big mistake but it's too late for that)
Have expressed serious interest but can't offer as not procedable.

My house has been on market 3 weeks so no time at all but no viewings. Normally I wouldn't be in any sort of hurry but we desperately want the house we have seen.
House we love has had 4 viewings in 3 days so we are in a poor position.

We are tempted to reduce the price of ours to the lowest we can feasibly take to hopefully bring in some interest.

However, the estate agent of the house we love has phoned tonight and offered to try and sell ours in order to secure the house. He said he can sell ours "within days"
He has also suggested working alongside agent 1 with a whoever sells first gets commision type thing. Both agents are no sale no fee.

Is this a bad idea, it sort of smacks of desperation a bit but is it worth a go?
I'm a bit wary of getting in a situation with two agents where I still haven't sold and loose the house anyway.

Has anyone done this before?

kinger101

You've probably signed a sole agency agreement with agent 1 so they're not likely to let you out of their fee. It sounds like agent 2 is speaking utter b01locks anyway. Having two entries instead of one on Rightmove makes people think you're desperate, so they'll offer low.

My advice would be to be less emotional about it. You'll fall in love with another once you've sold yours.

DaftyDuck

Going with the selling agent is no bad idea in its own right, concentrates the agent's mind somewhat. How you get there...

How long is the original contract for?

Cakeguts

What this shows you is that houses ARE getting viewings at this time of year so the fact that you haven't had any isn't due to the time of year it is due to something else. You need to find out what that something else is and correct it. Having two agents won't make any difference until you correct what it is that is stopping people from viewing your house.

Greyhorse

Thank you all.

We have reduced our price today so I'm hanging onto the phone and hoping for the best.

Second estate agent is still desperate for us to go with him too but I don't think it will make much difference sadly.

Surrey_EA

Greyhorse wrote: »

However, the estate agent of the house we love has phoned tonight and offered to try and sell ours in order to secure the house. He said he can sell ours "within days"

Well, they would say that!

I agree with Cakeguts. Not to have any viewings in the first three weeks suggests there is a problem of some sort.

Three weeks might be no time at all, but I find that if a house is correctly priced it should sell in the first four weeks, and if it doesn't the price is almost certainly too high.

How does the current agent explain the lack of viewing interest?

Greyhorse

I have asked and am just told "it's January"

Surrey_EA

January is rarely the busiest month of the year, but nor is it the quietest. Not having one viewing suggests to me the original price was too high. Hopefully the reduction causes an increase in interest.

Greyhorse

I really hope so Surrey- it's not a massive reduction 115k originally and 109k now but hopefully it drags someone through the door.

Another couple have offered on the property sadly so I think we are out on this one.

notafan

Greyhorse wrote: »

However, the estate agent of the house we love has phoned tonight and offered to try and sell ours in order to secure the house. He said he can sell ours "within days"

Did he get his crystal ball out?

As if dealing with one isn't bad enough. Tell him to jog on.

What matters is the details of your contract with the first you've signed with.

All he's interested in is getting two lots of commission (from the house you want to buy which he's also selling and the opportunity to also sell yours). He's not interested if you end up paying the first agent as well as him.

Greyhorse

I think I have miffed the first agent as I have said I'm not happy we have had no viewings and that agent 2 wants my business. Agent 1 is no sale no fee so technically I could give notice and go with agent 2.

What's to stop agent 2 listing my house and then selling dream house to someone else when he can't sell mine though?