Time to change agent?

Dogen

I am trying to sell my house. It's been six months. It went on the market halfway between the highest and lowest of the prices three agents gave me. I then reduced it to the lowest of the three prices and my EA told me it was now at the correct price. It didn't sell. So I knocked another 30,000 off the price. It still hasn't sold. I am getting viewings, people like it and are coming back for second viewings. But my agent is taking on properties left right and centre, mostly a bit dearer than mine, and I feel I am having to compete with the other properties on my agents books when she ought to be focused on selling mine. She makes all the right noises but no sale and i think she might be spreading her work too thin. Should I change agent?

Many thanks for reading.

eddddy

You could certainly start talking to some other agents - let them give you their opinion and spiel, and you can decide whether you think they can do a better job.

Typically, you'd have to give written notice to your current agent -  often 2 or 4 weeks (check your contract) - before the new agent can start.

And you'd have to do all the standard stuff - like get a list of people the old agent has introduced - and get the new agent to agree in writing that they won't negotiate with anyone on that list, or claim a fee in respect of anyone on that list.


Will your current agent charge you a withdrawal fee?

Dogen

Thank you. As far as I know there is no withdrawal fee after this period of time, I will check the contract. 

It seems to me my agent is not a "closer". I am not sure she is selling the benefits of this house opposed to some of the others, so to speak, as one of the houses mine lost out to has horribly obvious problems compared to this one but I suspect my agent hasn't really pointed this out, though there is no way of knowing.

If I took on a second agent alongside the current one, would this raise difficulties or make my agent work harder?

eddddy

Dogen said:

If I took on a second agent alongside the current one, would this raise difficulties or make my agent work harder?

You would have to give notice and terminate your current contract with your agent (which would be 'sole agency' or 'sole selling rights') - and start a new joint agency contract.

The fees for joint agency contracts are generally quite a bit higher.

And the new estate agent probably won't like having a joint agency contract - so you might have to push them hard.


It's hard to know if your current agent would work harder or less hard, if you started a joint agency contract.

Grizebeck

You should post it up for honest feedback

propertyrental

I doubt your agent is doing anything negative in the marketing. If they don't sell your house, they they don't get their fee (subject to your contract that I can't see!). Meanwhile they are spending money each month keeping it on Righmove (I hope?).....

Competition with others on their books? The reality is that with Rightmove and Zoopla etc, you are in competition with all the local properties for sale, not just those on your agent's books.

Multi agent? In my view, pointless these days. Back in the days when buyers went into agent's offices to register, and look at brochures, it made sense, but these days buyers look online and if they see multiple listings of the same property they just think 'desperate'.. And of course it course it costs you more.7

So either stick where you are but hassle the agent with weekly phone calls/visits for updates, or check your contract, serve notice, do more agent research and sign up sole agency with someone new.

CSI_Yorkshire

You appear to be under the impression that your EA should only be selling one house at once.  Surely you can see that this is not realistic?

Have you had any offers?  If not, why not?  If yes, how far under your asking price were they?  And what do you think your EA should be doing differently?  They can't force potential buyers to make an offer.

Unless your EA is refusing to (or is too busy to) field enquiries about your house, which seems unlikely as you say you've had many viewings, I don't see what they are doing wrong. 

Dogen

The agent tells me people love the house. But that properties at my price point are generally not shifting; she certainly has a few on her books as takes on more by the week. I wonder if my agent is so busy getting properties in that she is neglecting to but enough effort into actually closing a sale. Obviously I don;t expect to be one agent, one property. But I also don;t expect to be competing with the same agent's properties continually. It's hard enough to get your house marketed and visible as it is without feeling your agent doesn't care if they shift your property which they've had for months or one they've just taken on. Low hanging fruit syndrome.

For example, a second viewing, the potential byers "love it" but then I discover that they have actually second viewed four properties with this agent in the past two weeks. Now it's not the agents fault if they are timewasters but I am wondering if the agent is selling the benefits of the property. Nobody can force them to put an offer in but what exactly are the agents for if if's not actually selling the property?

I have had two offers one asking price one marginally under, not so far under that it would bother me. But neither were proceedable. 

I don;t see what they are doing wrong. I don't see anything. All I can do is trust that they are working for me. And so far, nothing to show for it. 

BobT36

Dogen said:

But that properties at my price point are generally not shifting

..............
And does that not say anything to you? (price) ESPECIALLY if you are getting viewings (as in there are people around to look). 

Also how are people "timewasters" for doing their due diligence and viewing multiple properties? Are they only supposed to look at yours? 


After all these interest rate rises etc I really don't get this attitude of sellers right now that "the properties aren't shifting", yes, things have changed. When properties shift FAST (as per the last few years with minimal rates), prices go UP. When they don't shift, well something is meant to happen there isn't it. 

MultiFuelBurner

Dogen said:

The agent tells me people love the house. But that properties at my price point are generally not shifting; she certainly has a few on her books as takes on more by the week. I wonder if my agent is so busy getting properties in that she is neglecting to but enough effort into actually closing a sale. Obviously I don;t expect to be one agent, one property. But I also don;t expect to be competing with the same agent's properties continually. It's hard enough to get your house marketed and visible as it is without feeling your agent doesn't care if they shift your property which they've had for months or one they've just taken on. Low hanging fruit syndrome.

For example, a second viewing, the potential byers "love it" but then I discover that they have actually second viewed four properties with this agent in the past two weeks. Now it's not the agents fault if they are timewasters but I am wondering if the agent is selling the benefits of the property. Nobody can force them to put an offer in but what exactly are the agents for if if's not actually selling the property?

I have had two offers one asking price one marginally under, not so far under that it would bother me. But neither were proceedable. 

I don;t see what they are doing wrong. I don't see anything. All I can do is trust that they are working for me. And so far, nothing to show for it. 

To add some context that may not apply to you.

The properties we have recently viewed are so different and diverse from brand new to grade I listed and so individual from each other second visits or more are required.

No everyone viewing houses is a time waster and if you want to sell well suck it up.

The property market has been fast and furious up until now when normally one quick viewing, offer in and sold. In fact the last two properties we sold one viewing and even after offer then never viewed again just moves in lol. Unless it's a exceptional house is the most desirable area those days are gone for a little while.

CSI_Yorkshire

That's how I bought my last two - one viewing, make offer, didn't see house or speak to the EA again until I collected the keys.

Having an EA bugging me for an offer because they were "chasing sales" or "pushing the house" would have put me off.