Estate Agents fault or just bad luck?

Kathrynmichaud

Hi, looking for advice!  We listed with our local Estate Agents at the beginning of last September.  Since then we’ve had 35+ viewings, 3 offers (all fallen through) and somebody else that we were told was desperate to buy ours but when they actually sold their house they then changed their minds and bought something else!  Our property is a bit more unusual. It’s 17th century, part timber framed.  The boiler is fairly new and we’ve recently had new consumer units fitted and electrics signed off.  Their is some damp which has been checked and quoted for by a local damp surveyor, they all checked all timbers which are fine.  The first sale fell through because the guy had a mortgage through HSBC.  When the values came he said that said that due to some crosses on the front of the house (which aren’t structural but there to look pretty) that the house could be unmortgageable and unsaleable!  The second buyer offered, then visited with her builder after a week and then decided that some changes she wanted to make would cost too much and pulled out.  The third buyer actually agreed to have a structural survey up front (which we now have a copy of).  The surveyor said that the house is structurally sound and mortgageable but he was concerned about the infill panels in the timber frame as they are concrete, although the infills are stone and brick not wattle and daub.  He talked about the costs of ongoing maintenance on a house of this age - the buyer pulled out.

The agents have said that they still think the asking price is good, so I’m wondering, should we change estate agents as they seem to be finding us buyers who don’t really understand what it means to take on a house of this age or have we just had really bad luck?!

Would really appreciate any advice that anyone can offer!  Thank you.

NameUnavailable

The agents are doing their job in finding you potential buyers. I'm not sure how you expect them to be able to forecast what a surveyor or mortgage company may raise as issues?

However, knowing what you now know, maybe discuss with the agent and - if that's what you want - ask them to explain to potential buyers some of the issues that have been raised. The only problem with that is it may put a buyer off who might otherwise proceed without issue.

numbercruncher8

Not really sure what the estate agents have got to do with it.

Seems heavily likely nowadays that they won't exactly have 'found' you the buyers, more that they put the ad up on the portals and people contacted them. 

The ad is getting views which is translating to viewings and also offers, so they are pretty much doing their job. Did they get feedback of the 30+ people who didn't make an offer, and if so was there anything actionable in that?

princeofpounds

Sounds like mostly bad luck, in the sense that people have been spooked but all for different reasons.

But, there's nothing wrong with giving another agent a go at some stage, it's not like you haven't given the current team a fair crack at it.

WoozieSioux_tse

Did you get any other valuations before you listed with the estate agent? And if yes, were they all similar? The number of viewings compared to offers isn't fantastic, but believe the 'average' is 11 viewings to an offer that follows to SSTC. But don't get stuck on statistics because particularly with a home that's 'niche' or 'quirky' (I would say interesting or unique!) it's going to appeal to a smaller market anyway. Would say that the stats are one in four sstc fall through, so you've already done your share! The next buyer should be THE ONE.
Were the people who offered all experienced buyers? Reason I ask, we are currently selling and have had bad experiences with nervy first-time buyers?
Are the estate agents making a point of highlighting the age and character of the property? Any unusual features?(Experienced homeowners seem to be a bit more forgiving, realising that making changes can be less straightforward. They also approach surveys and reports with a more measured approach- not throwing their hands up at the first mention of issues such as damp and demanding an immediate reduction).
You appear to have been fairly relaxed about extra visits for surveys and valuations. You have the structural survey (doesn't actually sound that bad, certainly not enough to withdraw!) and should take heart from the comments that it is structurally sound and mortgageable.
I would be having a serious chat with your current estate agents. Are they sending you only proceedable buyers? Or have you had people popping round at the weekend because the cinema/shopping centre is closed and "it might be nice to live in an old property!".
The other people on the forum will probably ask for a link to see how the property is marketed. Do you think it has been marketed well by your estate agent? Have they managed to extract feedback from everyone who visited? 
You do seem to have had a lot of bad luck with your buyers. I think I would be asking other estate agents to come round and value the property now. I'd be asking how they'd market the property- do they offer video tours/ virtual viewings to save you being inundated with new viewings? Explain your sale history so far and stress that you only want serious and proceedable viewings.
Don't give up hope, it will happen. You are never going to be able to account for nervy valuers or surveyors (or buyers!), but if you're open and up for the idea to negotiation, just get stuck in and re-list. 

rik111

With the greatest respect your house sounds like a money pit, which once reality hits home will spook most buyers. Not much the agent can do about that....

Thrugelmir

If your property is niche. Then finding a buyer is going to take longer. You need to find someone that is prepared for the challenges of what presumably is a listed property. Current market conditions aren't helped by the lockdowns. 

youth_leader

I felt similarly that I wasn't getting the right 'type' of buyer when I was trying to sell my very special huge and draughty Grade II railway station.  Many viewers didn't seem to have any experience of older houses, the listing restrictions put many off, heating costs were regularly mentioned.  Is it worth changing to a specialist estate agent - I've just typed in unique homes and this one came up - 
Unusual Homes & Unique Property For Sale

AdrianC

Kathrynmichaud said:

When the values came he said that said that due to some crosses on the front of the house (which aren’t structural but there to look pretty) that the house could be unmortgageable and unsaleable!

<raises eyebrows>
They'll be structural. Patress plates, they're called... There's a bloody great big steel rod goes between the one on the front and another on the back, stopping the walls spreading.

Perfectly mortgageable, though.

(We have a swastika one on the front of our house - which I've been told I am NOT allowed to paint in a contrasting colour... Friends had an S and an X...)

Irishpearce26

Sounds like the EA is doing their job but you have unrealistic expectations. The pretty crosses you mention are an immediate turn off for people due to the fact that they are actually holding the building together and not there cosmetically. 

Why not sort the damp problem out yourself as this will suit more buyers otherwise they will want a reduction to cover the costs. 

The 3 sales all pulled out because the cost to bring up to standard vs the cost of the house aren’t economical. Nothing to do with bad luck. 

Sorry for the hard facts but it sounds like you need to evaluator your price. 

Croeso69

AdrianC said:

(We have a swastika one on the front of our house - which I've been told I am NOT allowed to paint in a contrasting colour...)

Could be worse ...