Chasing up Estate Agents when selling

Lokolo

Is it on RightMove? Low clicks on Zoopla doesn't mean much I'd say, as most people use RightMove!

sidewinderflame

Unfortunately not, I'm with one of these agents who do zoopla and OnTheMarket neither of which Id use. My previous agent did have me on rightmove but all enquiries were from their database never rightmove or zoopla. I may go multi agency when my current contract expires and I'll use an agent that does rightmove again.

Surrey_EA

sidewinderflame wrote: »

Unfortunately not, I'm with one of these agents who do zoopla and OnTheMarket neither of which Id use. My previous agent did have me on rightmove but all enquiries were from their database never rightmove or zoopla. I may go multi agency when my current contract expires and I'll use an agent that does rightmove again.

Multi agency makes the seller appear desperate. If the current EA isn't performing approach a different EA to act as sole agent when your current contract expires.

However, if you've tried one agent, now on your second, and thinking about going to a third, perhaps it's not the agent and the price is still too high?

saajan_12

sidewinderflame wrote: »

I ended up dropping the price about four weeks ago and unfortunately I've only had two viewings in that time. I've also had all the photos retaken by the agent but clicks are low on Zoopla. I am now though cheap compared to other flats in the area so won't drop it any further and there's only a few available so competition isn't high. I appreciate that price can be a factor but if I go any lower I would be selling below market value and properties in less desirable areas are actually more expensive right now.

By definition, 'market value' is the price properties of that type/size/area are trading at (i.e. being bought / sold). If as you say other similar flats in the area are the same or higher priced but not being sold, then buyers are not willing to buy at that price, so the 'market value' must be lower. Property buying is a compromise, so most properties will sell at a price, you just have to find it.

Cakeguts

The market value of a property is what someone will pay your for it. It isn't some imaginary number that an estate agent has come up with or a value that other people have put on similar properties. It is only what someone will pay you for it.

As no one has come forward to pay you your price for your flat it isn't below market value because that figure is only an amount that is below what someone has already paid you for the flat.

A main road will put people off. If they can get a similar flat for the same price or less that isn't on a main road they will go for that not yours.

The age of the building is important. A flat in a more modern building with a lift and good insulation will cost more than a flat in an older building that is more expensive to heat.

An ex local authority flat will be cheaper than a non ex local authority flat in the same area.

When you are doing your comparisons you have got to compare like with like. It is no good comparing your flat on a main road to one round the corner in a nice quiet street.

So compared to your flat what price are other flats in the same area on main roads and in the same age of building selling for or have sold for? That is your first basis for comparison. Then you have a look to see what it is about your flat that might be making it less desirable. There is a price for everything. At the moment you do not have any idea what it is. When you find out what it is you will sell your flat.

Mickygg

sidewinderflame wrote: »

Unfortunately not, I'm with one of these agents who do zoopla and OnTheMarket neither of which Id use. My previous agent did have me on rightmove but all enquiries were from their database never rightmove or zoopla. I may go multi agency when my current contract expires and I'll use an agent that does rightmove again.

i would never use an agent that doesn't use rightmove. I only use rightmove so would never see your property.
Change to an agent that uses Rightmove. I would not use more than 1 agent, it comes across as desperate.
You say yourself you don't use otm or zoopla so why go with an agent that just uses them?

sidewinderflame

Thanks for all your comments, it's all good stuff.

Completely agree about Rightmove but no one came through Rightmove before so I thought maybe it wouldn't make much difference, stupid on my part.

I understand what everyone is saying about price but what one person is happy to pay for a property isn't necessarily the same as someone else and it doesn't mean that everyone who is looking has actually seen my property. For instance I accepted an offer last year below the asking price at £30,000 higher than I have the property currently marketed at, unfortunately their sale fell through so were unable to proceed (they still haven't sold). If they had been able to then I would have got a good price and all within the first couple of weeks and would have thought this selling lark was easy.

I also got an offer about four weeks ago from a couple that visited but before I got the chance to return my agents call they had retracted it as a previous property they had just lost out on had come back on the market.

The only negatives I have had are the stairs (first floor flat and these have been elderly people that have mentioned this) and the main road nearby. I'm not sure if I mentioned it but I had a viewing a couple of days ago, they liked the flat, the layout and decor but didn't like the road nearby.

Speaking to various agents around here they tell me that the market is very very quiet. With regards to other properties, you can't get a similar property for cheaper. If you paid less then you'd have to go to a cheaper area or get a smaller property. This flat is in Hampstead which is an expensive area to buy and itself brings a premium. It's not on a main road but near a main road but I understand that that is an issue for some people. It is though a couple of minutes from the tube which for the right buyer would be an asset.

Last September a flat next door (exactly the same layout) went for £50000 than I am selling mine for now and their flat was really old and dated and needed a lot of work whereas mine doesn't so I feel that the price is appropriate really.

PeterPanic

The agent can't make somebody buy a property so I suspect it is over priced. Personally I only ever use rightmove and I couldn't care less which agent it is on with. As far as I am concerned the agent is there purely to arrange the viewing time, they have no influence on whether I am likely to buy the property or not. For this reason I think multi agent is a waste of time.

You mention you are not on Rightmove, for me this is the goto website so I would never think of looking anywhere else. You mention in your post that the market is slow, if you really want to sell then I think you are going to have to reduce the price more I am afraid.

Niv

I cant believe people use agents that are not on Rightmove. As far as I am concerned that was the first thing I checked when picking an agent. Everyone I know that has looked for house uses rightmove the others don't even get mentioned in passing. Especially in a slow market I consider this your biggest mistake.