Should we change Estate Agents

babiesmummy

https://www.rightmove.co.uk/property-for-sale/property-81979684.html

Our house was listed on 10/07, we've had 5 viewings but nothing for the last 5wks. 
We had an offer for 350k but their house wasnt even on the market, so didn't accept that offer. Another offer for 320k ( too low), our house was compared to a house for sale next door but one,  as the same with an extension. They obviously forgot about the garage conversion, new kitchen, new bathroom, new back garden etc
They only calls we get from the Estate Agent are to book viewings (which have dried up) They are saying the market has quietened down in our area, they dont seem to be doing anything than relying on Rightmove & Zoopla.
My husband wants to try another Agent but I don't see the point as the majority of people look on Rightmove & Zoopla.
We are getting very disheartened & our dream seems to be getting further away.
Advice wanted

Thanks
Kelly

UnderOffer

Well your home is lovely, but Is the one next door but one this house at 70k less? 

https://www.rightmove.co.uk/property-for-sale/property-83198518.html

Competition right on your doorstep is possibly stopping yours getting any viewings and offers.  Your listing mentions £350-£375. I’d avoid that, if your minimum is £350 just choose that price. 

babiesmummy

Yep, thats the one. It started off at 290k but they reduced it within a week as they want a quick sale. I feel its bringing the prices down on our estate & can't wait for them to sell it. The photo's for their property make it look quite nice but in reality its well worn :-/

Doozergirl

This one sold for £250k in March. 

https://www.rightmove.co.uk/house-prices/detailMatching.html?prop=72716503&sale=11478064&country=england

I know it needed a bit of a makeover, but not £100k worth? 

The neighbour currently on the market can't be a total bargain if it's been on for 5 weeks or so.   

The ceiling price for the street is £290k...   The prices seem to similar to when they were first built before the financial crisis.  There's a couple of anomalies above that price, but there's plenty of evidence of guide prices for the street and it doesn't appear to be £375k. The £320k offer looks good when just taking the street as the benchmark.  

You're an older new build up against brand new builds. That's a tough sell.   Taking into account the new build premium and 'help to buy' initiatives that falsely inflate prices and give people the opportunity to buy more than they could normally afford, you're probably punching above weight there too.  

What's your reasoning for the current asking price?  What comparables do you have?  How many agents valued it and how did they value it?  

ElizabethRose

I know if I was buying I'd go for your neighbours and even if it is "well worn" there is plenty of money to update. Even if I preferred yours my offer would be based on the fact the other property is going to sell much lower so I'd offer you much lower. I don't think the agent matters it's the competition on the market and the price of that.

On a side note I wish I lived in your area as you can barely get a 3 bed semi for the price of yours. 

LandyAndy

I can see you've spent a considerable amount of money on your house but that doesn't mean you'll se it back in the sale price.
It would take a lot to undo the work you have done to get it to how the buyers might want it compared with having the other house to just do as they wanted.
I wouldn't consider your house because I don't like garage conversions, I don't like huge open kitchen diners, I don't like your kitchen, and I really don't like vast expanses of bi-fold doors.  Sorry

saajan_12

babiesmummy said:

https://www.rightmove.co.uk/property-for-sale/property-81979684.html

Our house was listed on 10/07, we've had 5 viewings but nothing for the last 5wks. 
We had an offer for 350k but their house wasnt even on the market, so didn't accept that offer. Another offer for 320k ( too low), our house was compared to a house for sale next door but one,  as the same with an extension. They obviously forgot about the garage conversion, new kitchen, new bathroom, new back garden etc

If you're not getting viewings ie people turning away before they even view, then its either the price or the advert. The advert looks great, meaning you're left with price. 

I wonder if 320k really is unrealistically low - the new kitchen / new bathroom / back garden are really just internal works to get it to your taste, but wouldn't add 70k of value. The garage conversion would help, but depending on how the insualtion is, that's really moving a couple of doors and internal decoration, along with the more modern kitchen / bathroom / garden, is really 30k of value.. so in the 300-310 range. Its always tricky selling the most expensive house in a street / development / area as people would often choose something cheaper and do it up to their preference rather than yours. Given the price difference, they could do that and have some change. 

As for agents relying on Rightmove / Zoopla, that's really all they can do. Most people would only look online rather than come in to meet agents especially during lockdown. So if people just don't enquire, they can't force interest that will actually get anywhere. Re next steps, I think you need to think about what a realistic price is and either price it to sell or hold out for someone who wants a move in ready home, exactly to your style and accept that will take much longer. 

Salemicus

Your home looks gorgeous - congratulations. Nothing is to everyone's taste.
Because the advert looks so good, it can only be the price.

babiesmummy

We had 2 valuations both at 350k. At the time a house around the corner had just had an offer accepted at 315k and ours was considerably larger & not overlooked. I believe this was the basis of the valuation & other than a few new builds there wasn't much else on the market at our price point. Then the announcement of the stamp duty holiday was announced and ......boom everyone else wants to sell.

SaverRate

babiesmummy said:

https://www.rightmove.co.uk/property-for-sale/property-81979684.html

Our house was listed on 10/07, we've had 5 viewings but nothing for the last 5wks. 
We had an offer for 350k but their house wasnt even on the market, so didn't accept that offer. Another offer for 320k ( too low), our house was compared to a house for sale next door but one,  as the same with an extension. They obviously forgot about the garage conversion, new kitchen, new bathroom, new back garden etc
They only calls we get from the Estate Agent are to book viewings (which have dried up) They are saying the market has quietened down in our area, they dont seem to be doing anything than relying on Rightmove & Zoopla.
My husband wants to try another Agent but I don't see the point as the majority of people look on Rightmove & Zoopla.
We are getting very disheartened & our dream seems to be getting further away.
Advice wanted

Thanks
Kelly

OP I would buy your neighbors house over yours. Main reason is the price to be honest. Think what you could do with the money of the difference between yours and your neighbors. Also In my opinion I dont think you have gained alot doing the garage conversation basically a second loooonnngg lounge and a strange kitchen/dining room (sorry!). Also a small minor thing, your neighbours door is black and yours is yellow...

babiesmummy

It isnt just a garage conversion, its also an extension that now links the conversion to the house. It had a new roof, a false chimney breast including a digital & electri fire & now has a full height ceiling. It is fully insulated & soundproofed. It also took 4 months to complete it all & involved alot more than moving a couple of doors. 
We knew when we moved in 10yrs ago that the living space downstairs wasn't in proportion to the number of bedrooms, hence the extension & conversion.