Agent or market problem?

diystarter7

LE_Bore said:

diystarter7 said:

Hi OP

Which EA in your area is well-known for getting things done? Find out and see if you want to go for them but often their fees are a bit higher and they are often quiet aggressive in their sales and I've had first-hand experience of this when looking at a btl, lol but i guess it works in favour of the seller.  These same EA's will not take on a property if they feel you are being unreasoble with price and wont move price after a week or so but worth looking up

No offence, but anything and everything well-priced will sell.

Good luck

Thanks

No offence taken. Thank you. We chose an agent with a great reputation and who has sold more in our area than most others. There were more aggressive agents who valued the house and I felt if I was buying a house they might put me off a bit. One priced it very high indeed and then immediately began talking about when we might want to reduce it from that price, which seemed bonkers to me. The big question your reply raises is what is well-priced in the current market? Nobody seems to know. Even some of the agents who wanted to get the house on their books admitted that they were uncertain of the right price since the economy went over a cliff a few months ago. Selling a house right now seems to be something of an experiment. But we know we can't sell it if nobody is coming through the door.

Hi

Many thanks
I think the BoE meets again tomorrow or very soon and base rates expected to hit 4% and prices falling and people worried re jobs

See how  it pans out - good luck

mi-key

I still think timing is the main issue. You listed at the end of november, so it has been on during the quietest two months of the year  for buying. Nobody really views or buys much in December or January anyway. We are coming into spring now which is the busiest time of the year. I'd keep the price the same and see if you get more interest over the next couple of months.

Because a house doesn't sell in a week or a month doesn't mean it is overpriced, it just means the person who wants that house and will pay the price hasn't come along yet. OK if nobody shows any interest after 6 months then you know it may be overpriced, but there is no point reducing it yet

Sarah1Mitty2

mi-key said:

I still think timing is the main issue. You listed at the end of november, so it has been on during the quietest two months of the year  for buying. Nobody really views or buys much in December or January anyway. We are coming into spring now which is the busiest time of the year. I'd keep the price the same and see if you get more interest over the next couple of months.

Because a house doesn't sell in a week or a month doesn't mean it is overpriced, it just means the person who wants that house and will pay the price hasn't come along yet. OK if nobody shows any interest after 6 months then you know it may be overpriced, but there is no point reducing it yet

Without a link to the house we can`t really say what the main issue is?

LE_Bore

Sarah1Mitty2 said:

LE_Bore said:

Sarah1Mitty2 said:

Are you using PropertyLog to see what the sellers of similar houses are doing?

Never heard of it. I will investigate. Thank you. 

https://www.propertylog.net/

Wow, what an impressive tool for Rightmove. Thank you so much.

Sarah1Mitty2

LE_Bore said:

Sarah1Mitty2 said:

LE_Bore said:

Sarah1Mitty2 said:

Are you using PropertyLog to see what the sellers of similar houses are doing?

Never heard of it. I will investigate. Thank you. 

https://www.propertylog.net/

Wow, what an impressive tool for Rightmove. Thank you so much.

Yes, it can definitely help you to get a feel for what is going on.

jimmyjammy001

If you've only had a handful of people through the door then it is likely the price, most people won't even go and view a property in they think that it's overpriced and they can't even offer something that's not insulting, so you won't be able to get any feedback from them as they arnt viewing your house. Market has stalled in my area, but then again sellers are listing houses for 50% more than what they were brought for just 4ish years ago with nothing done to them apart from lived in them 

Sarah1Mitty2

mi-key said:

I still think timing is the main issue. You listed at the end of november, so it has been on during the quietest two months of the year  for buying. Nobody really views or buys much in December or January anyway. We are coming into spring now which is the busiest time of the year. I'd keep the price the same and see if you get more interest over the next couple of months.

Because a house doesn't sell in a week or a month doesn't mean it is overpriced, it just means the person who wants that house and will pay the price hasn't come along yet. OK if nobody shows any interest after 6 months then you know it may be overpriced, but there is no point reducing it yet

I suspect this spring will be the quietest in many years.

mi-key

Sarah1Mitty2 said:

mi-key said:

I still think timing is the main issue. You listed at the end of november, so it has been on during the quietest two months of the year  for buying. Nobody really views or buys much in December or January anyway. We are coming into spring now which is the busiest time of the year. I'd keep the price the same and see if you get more interest over the next couple of months.

Because a house doesn't sell in a week or a month doesn't mean it is overpriced, it just means the person who wants that house and will pay the price hasn't come along yet. OK if nobody shows any interest after 6 months then you know it may be overpriced, but there is no point reducing it yet

I suspect this spring will be the quietest in many years.

Again depends on the area and type of properties. While a lot of people on lower incomes are struggling, a lot have just had to cancel their third yearly holiday or keep hold of their Range Rover for an extra year. 

Sarah1Mitty2

jimmyjammy001 said:

If you've only had a handful of people through the door then it is likely the price, most people won't even go and view a property in they think that it's overpriced and they can't even offer something that's not insulting, so you won't be able to get any feedback from them as they arnt viewing your house. Market has stalled in my area, but then again sellers are listing houses for 50% more than what they were brought for just 4ish years ago with nothing done to them apart from lived in them 

Have you had conversations with any of these sellers, do they think it is down to agent or that the market will somehow see their house as different?

mi-key

Wow yes, a whole 1% drop in some places in 4 months !!! The end is nigh !