Time to change agent?

jonnydeppiwish!

2 example for you
https://www.rightmove.co.uk/property-for-sale/map.html?locationIdentifier=REGION%5E484&numberOfPropertiesPerPage=499&propertyTypes=&viewType=MAP&mustHave=&dontShow=&furnishTypes=&viewport=-0.953941%2C-0.949349%2C50.8444%2C50.8491&keywords=
been on the market for over 5 months, reduced by £25k in March. A 3 bed chalet sold 3 doors up with proper drive and garden for £410k this month.

https://www.rightmove.co.uk/properties/127070843#/?channel=RES_BUY

Been on the market for over 6 months, originally at £725k. House on same road, not on the main road like this one, sold for £600k last summer. Probably over price by £80-£100k

tooldle

You say you’ve had offers at or near asking price. Prices is perhaps not so much the problem. To be proceedable must these potential purchasers sell their own properties?

housebuyer143

I would say your agents biggest problem is showing people around who are not proceedable. I would nip that in the bud as it's just wasting everyone's time. 

Sarah1Mitty2

jonnydeppiwish! said:

Dogen said:

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.

Just to point out the elephant in the room - you’ve been on the market for 6 months and not sold then it’s either overpriced, there is a major issue with it or a mixture of both.

if you’re having second viewings, I’d go with the mixture.

Theres a problem with house buyers at the moment, especially those who need large mortgages - interest rates are now predicted to go up to 5.5% so people just can’t afford the higher prices. 

The EA has to sell properties to be paid therefore of course she’ll take on other properties to sell, and yes they’ll be in competition with yours. If you think you should be the only type of property on an EAs books then , unfortunately, you need to understand the reality of the business.

I doubt your EA is not trying to sell your property as they need to be paid. A house for sale for that prior of time is negative publicity for them. As for feedback, that’s probably all she gets, the majority are just excuses and off the cuff comments to get the EA off the phone when she calls for feedback. 

Pull your property off the market with them, market with a new EA (don’t forget to take a list of those who have already viewed it from the old EA just in case). Accept that the house is no longer ‘worth’ what it once was, and start afresh.

This is the most important point, but they are all good points, and don`t forget to use PropertyLog regularly to see what other sellers are up to.

Dogen

jonnydeppiwish! said:

2 example for you
https://www.rightmove.co.uk/property-for-sale/map.html?locationIdentifier=REGION%5E484&numberOfPropertiesPerPage=499&propertyTypes=&viewType=MAP&mustHave=&dontShow=&furnishTypes=&viewport=-0.953941%2C-0.949349%2C50.8444%2C50.8491&keywords=
been on the market for over 5 months, reduced by £25k in March. A 3 bed chalet sold 3 doors up with proper drive and garden for £410k this month.

https://www.rightmove.co.uk/properties/127070843#/?channel=RES_BUY

Been on the market for over 6 months, originally at £725k. House on same road, not on the main road like this one, sold for £600k last summer. Probably over price by £80-£100k

Thank you, these are visible examples. I know price is obviously a critical issue. I've reduced twice -- big reductions, not tiny ones. My EA has approved of these but has not really suggested further big price cuts. The question is, am I meant to try to correct the market all on my own? Because if I reduce further, I am then running into far smaller houses or in locations on main roads or rather grim estates. The same as a street supposedly has a so-called ceiling price, it presumably has a floor and I think I am near to it. Obviously anything might sell if priced really cheaply but I still have to buy somewhere else when I move and where I'm moving to is in pretty much the same price bracket as me. 

Dogen

housebuyer143 said:

I would say your agents biggest problem is showing people around who are not proceedable. I would nip that in the bud as it's just wasting everyone's time. 

I am starting to wonder if anyone is proceedable! I am not viewing houses because I haven't sold yet. It's a Catch 22. Can't buy because I haven't sold, can't sell because nobody else has sold...

Sarah1Mitty2

jonnydeppiwish! said:

2 example for you
https://www.rightmove.co.uk/property-for-sale/map.html?locationIdentifier=REGION%5E484&numberOfPropertiesPerPage=499&propertyTypes=&viewType=MAP&mustHave=&dontShow=&furnishTypes=&viewport=-0.953941%2C-0.949349%2C50.8444%2C50.8491&keywords=
been on the market for over 5 months, reduced by £25k in March. A 3 bed chalet sold 3 doors up with proper drive and garden for £410k this month.

https://www.rightmove.co.uk/properties/127070843#/?channel=RES_BUY

Been on the market for over 6 months, originally at £725k. House on same road, not on the main road like this one, sold for £600k last summer. Probably over price by £80-£100k

At 600k last summer they are now looking at a large loss I would say, and by dropping the price by 65k to a still quite silly asking price they are flagging themselves as "difficult" to any potential buyers who will have plenty of choice elsewhere?

Sarah1Mitty2

Dogen said:

jonnydeppiwish! said:

2 example for you
https://www.rightmove.co.uk/property-for-sale/map.html?locationIdentifier=REGION%5E484&numberOfPropertiesPerPage=499&propertyTypes=&viewType=MAP&mustHave=&dontShow=&furnishTypes=&viewport=-0.953941%2C-0.949349%2C50.8444%2C50.8491&keywords=
been on the market for over 5 months, reduced by £25k in March. A 3 bed chalet sold 3 doors up with proper drive and garden for £410k this month.

https://www.rightmove.co.uk/properties/127070843#/?channel=RES_BUY

Been on the market for over 6 months, originally at £725k. House on same road, not on the main road like this one, sold for £600k last summer. Probably over price by £80-£100k

Thank you, these are visible examples. I know price is obviously a critical issue. I've reduced twice -- big reductions, not tiny ones. My EA has approved of these but has not really suggested further big price cuts. The question is, am I meant to try to correct the market all on my own? Because if I reduce further, I am then running into far smaller houses or in locations on main roads or rather grim estates. The same as a street supposedly has a so-called ceiling price, it presumably has a floor and I think I am near to it. Obviously anything might sell if priced really cheaply but I still have to buy somewhere else when I move and where I'm moving to is in pretty much the same price bracket as me. 

Good points, but I would say that if you are pricing at the same level as smaller properties or near roads/grim estates then obviously you are going to get those potential buyers over to your house? However if these less desirable properties are not shifting then it could be a general market problem in the area?

Dogen

Sarah1Mitty2 said:

Dogen said:

jonnydeppiwish! said:

2 example for you
https://www.rightmove.co.uk/property-for-sale/map.html?locationIdentifier=REGION%5E484&numberOfPropertiesPerPage=499&propertyTypes=&viewType=MAP&mustHave=&dontShow=&furnishTypes=&viewport=-0.953941%2C-0.949349%2C50.8444%2C50.8491&keywords=
been on the market for over 5 months, reduced by £25k in March. A 3 bed chalet sold 3 doors up with proper drive and garden for £410k this month.

https://www.rightmove.co.uk/properties/127070843#/?channel=RES_BUY

Been on the market for over 6 months, originally at £725k. House on same road, not on the main road like this one, sold for £600k last summer. Probably over price by £80-£100k

Thank you, these are visible examples. I know price is obviously a critical issue. I've reduced twice -- big reductions, not tiny ones. My EA has approved of these but has not really suggested further big price cuts. The question is, am I meant to try to correct the market all on my own? Because if I reduce further, I am then running into far smaller houses or in locations on main roads or rather grim estates. The same as a street supposedly has a so-called ceiling price, it presumably has a floor and I think I am near to it. Obviously anything might sell if priced really cheaply but I still have to buy somewhere else when I move and where I'm moving to is in pretty much the same price bracket as me. 

Good points, but I would say that if you are pricing at the same level as smaller properties or near roads/grim estates then obviously you are going to get those potential buyers over to your house? However if these less desirable properties are not shifting then it could be a general market problem in the area?

Until the market 'corrects', as they say, you just can't do it. I mean, it seems my house is worth more than the smaller houses but then they must only be worth what's priced underneath them. But if they don't go down, and at present they are not, nothing will sell. I think my area is overpriced but most places in the SE are. I suppose this is the drawback of the economy being so dominated by property. But who has got the brainpower to sort that tangle out? Certainly not me. Probably not the government either! I just want to move house...

BobT36

Dogen said:

jonnydeppiwish! said:

2 example for you
https://www.rightmove.co.uk/property-for-sale/map.html?locationIdentifier=REGION%5E484&numberOfPropertiesPerPage=499&propertyTypes=&viewType=MAP&mustHave=&dontShow=&furnishTypes=&viewport=-0.953941%2C-0.949349%2C50.8444%2C50.8491&keywords=
been on the market for over 5 months, reduced by £25k in March. A 3 bed chalet sold 3 doors up with proper drive and garden for £410k this month.

https://www.rightmove.co.uk/properties/127070843#/?channel=RES_BUY

Been on the market for over 6 months, originally at £725k. House on same road, not on the main road like this one, sold for £600k last summer. Probably over price by £80-£100k

Thank you, these are visible examples. I know price is obviously a critical issue. I've reduced twice -- big reductions, not tiny ones. My EA has approved of these but has not really suggested further big price cuts. The question is, am I meant to try to correct the market all on my own? Because if I reduce further, I am then running into far smaller houses or in locations on main roads or rather grim estates. The same as a street supposedly has a so-called ceiling price, it presumably has a floor and I think I am near to it. Obviously anything might sell if priced really cheaply but I still have to buy somewhere else when I move and where I'm moving to is in pretty much the same price bracket as me. 

What is a "big" reduction to you?