Can estate agent reduce asking price without my consent?

Hoopylass

Quick question for you guys as google hasn't been too helpful ...

My flat has been up for sale for 6 months, not had that much interest but not in a rush to move so happy to sit it out however ...

I logged onto rightmove tonight to find they reduced my asking price yesterday by 5 grand!

Contract was signed for an initial 6 month period ... terms state that if marketing is to continue beyond this point then a revision in price MAY be suggested ...

So can they do this without my consent? I have had no contact from them whatsoever to discuss this!

Thank you!

T0mmyh

In short No..

And who agrees to a 6 month period!

Hoopylass

Houses are very slow to sell where I am ... majority of properties have been for sale for average of 8-9 months.

Anyway the length of contract is not really the issue here.

Planning to phone them tomorrow .... Am I entitled to any money back for breach of contract? Fee paid upfront.

G_M

No. Only the owner/seller can decide what price to advertise at, or sell at.

But a 6 month contract? Are you mad!!!!?

Time for a new agent. (though after 6 months a re-think of the price might make sense).

marliepanda

Hoopylass wrote: »

Houses are very slow to sell where I am ... majority of properties have been for sale for average of 8-9 months.

Anyway the length of contract is not really the issue here.

Planning to phone them tomorrow .... Am I entitled to any money back for breach of contract? Fee paid upfront.

Doubtful. You say 'oi, change that back'

ScorpiondeRooftrouser

Hoopylass wrote: »

Houses are very slow to sell where I am ... majority of properties have been for sale for average of 8-9 months.

Anyway the length of contract is not really the issue here.

Planning to phone them tomorrow .... Am I entitled to any money back for breach of contract? Fee paid upfront.

Have you had any requests to view at the reduced price? If not, it's hard to argue that this has done you any harm as it's unlikely you have missed out on people who wanted to pay more for it.

Even if you have, it's hard to argue that it's done you any harm, as after six months one presumes you'd accept an offer of at least £5K under, so you could just be less negotiable.

Thrugelmir

Hoopylass wrote: »

Houses are very slow to sell where I am ... majority of properties have been for sale for average of 8-9 months.

Do you want to sell it or not?

Blackpool_Saver

marliepanda wrote: »

Doubtful. You say 'oi, change that back'

yes, but the damage is done if people have now seen it reduced.

I would be fuming

marliepanda

Blackpool_Saver wrote: »

yes, but the damage is done if people have now seen it reduced.

I would be fuming

Oh yeah I'm sure after 6 months on there that's going to put loads of people off...

kilby_007

Your 6 month contract is up, and presuming you haven't signed again for another 6 months I would:-

1) Ring the estate agent.
2) Get shouty and tell them you're withdrawing your listing with them on principle.
3) Get real, it's not selling!
4) Re-list your property with another agent 10K below your previous asking price.

glasgowdan

To answer your question, yes they clearly can as they just have. SHOULD they have done it? No. Money back for breach of contact? That's being a bit cheeky. They HAVE marketed your house, and I guess perhaps arranged things with potential viewers?

Also, if you want to sell it, call them up and ask for a further 5k drop. It's obviously overpriced.

There's not much point putting the price back up as rightmove will show it as price increased, which won't exactly encourage viewers.