Viewings fallen off, should I change estate agents?

Albermarle

Uriziel said:

I don't think people care too much about estate agents so changing them probably would not make much of a difference. People go online to view properties and that's about it. Do you think another agent will start cold calling? It sounds to me as if you simply want the price that you have decided on. If you are not willing to decrease the price to get a sale you will just have to sit on it and wait. There is nothing else you can do. I also do not think that a garden is much of a selling point. People want to live in the actual house and not in the garden. If the house is crappy why would anyone spend a fortune just to have a nice garden? It sounds like the price is quite high. People who have a lot of money to spend want a good house and not just a big garden and can afford it. It sounds like you are asking too much for the property and tell yourself that it's fine because there is a big garden to go with it. You also write that it is in line with the rest of the houses. If your agent said your garden justifies the price it means that the property actually is not worth the price at all and you are just hoping for someone to really want the garden. I would decrease the price and get it over and done with instead of endlessly waiting hoping for a rich man to come along and make your year. Accept that there is supply and demand and there does not seem to be much demand for your property irrelevant of how you feel about the price.

However as said in an earlier post, if the house was generally desirable, but overpriced, you would have expected at least to see some offers, even if significantly below the asking price.
They seem to have had only one offer, which makes you think there is something else putting buyers off, as well as it maybe being too high an asking price. 

ReadySteadyPop

Albermarle said:

Uriziel said:

I don't think people care too much about estate agents so changing them probably would not make much of a difference. People go online to view properties and that's about it. Do you think another agent will start cold calling? It sounds to me as if you simply want the price that you have decided on. If you are not willing to decrease the price to get a sale you will just have to sit on it and wait. There is nothing else you can do. I also do not think that a garden is much of a selling point. People want to live in the actual house and not in the garden. If the house is crappy why would anyone spend a fortune just to have a nice garden? It sounds like the price is quite high. People who have a lot of money to spend want a good house and not just a big garden and can afford it. It sounds like you are asking too much for the property and tell yourself that it's fine because there is a big garden to go with it. You also write that it is in line with the rest of the houses. If your agent said your garden justifies the price it means that the property actually is not worth the price at all and you are just hoping for someone to really want the garden. I would decrease the price and get it over and done with instead of endlessly waiting hoping for a rich man to come along and make your year. Accept that there is supply and demand and there does not seem to be much demand for your property irrelevant of how you feel about the price.

However as said in an earlier post, if the house was generally desirable, but overpriced, you would have expected at least to see some offers, even if significantly below the asking price.
They seem to have had only one offer, which makes you think there is something else putting buyers off, as well as it maybe being too high an asking price. 

 I would decrease the price and get it over and done with instead of endlessly waiting hoping for a rich man to come along 

Good advice

Herzlos

Bigphil1474 said:

Whilst I would agree price is important, it's not always the main issue. If buyers are interested but they think it's a bit over priced, they'll put a low offer in, they won't just ignore it. That's what we did. We had a budget of up to around £350k last year but we looked at houses up to around £400k, and offered within budget. 

Have you gotten someone with a streak of blunt honesty to take a look at the listing. Maybe get them to do a dummy viewing. It could be the EA is rubbish at answering the phone or isn't flexible on appointments, or it could be the pictures. It could be all sorts. However, unless it's way over priced, it's not just gonna be price IMO. Any chance you could do some of the work you know needs doing to make it more appealing? 

That's my thinking. I'd be more put off by a bad estate agent or crap pictures than I would by the price being 10% too high.

So I'd revisit that first. I'd definitely recommend the dummy enquiry too and see if something the estate agent is doing to put people off.

Is it a reputable local agent or a cheap online one?

Herzlos

Uriziel said:

I don't think people care too much about estate agents so changing them probably would not make much of a difference.

Estate agents make a huge difference. They may already have contacts with potential buyers - Some of the viewers of my last house were ones who'd lost out on similar, and I got to see my current place before it went live.

Good agents will know the area better, produce better listings, better photos, be easier to deal with via the phone/office/email etc.

A bad agent could easily put people off. Take Purple Bricks for example - lots of people won't even enquire about a house that's being sold via them.

ReadySteadyPop

Herzlos said:

Bigphil1474 said:

Whilst I would agree price is important, it's not always the main issue. If buyers are interested but they think it's a bit over priced, they'll put a low offer in, they won't just ignore it. That's what we did. We had a budget of up to around £350k last year but we looked at houses up to around £400k, and offered within budget. 

Have you gotten someone with a streak of blunt honesty to take a look at the listing. Maybe get them to do a dummy viewing. It could be the EA is rubbish at answering the phone or isn't flexible on appointments, or it could be the pictures. It could be all sorts. However, unless it's way over priced, it's not just gonna be price IMO. Any chance you could do some of the work you know needs doing to make it more appealing? 

That's my thinking. I'd be more put off by a bad estate agent or crap pictures than I would by the price being 10% too high.

So I'd revisit that first. I'd definitely recommend the dummy enquiry too and see if something the estate agent is doing to put people off.

Is it a reputable local agent or a cheap online one?

Really? For someone buying with a mortgage that could be extra interest they don`t need to pay on their debt if they negotiate, and if the lender says price too high many people don`t have the extra cash on hand to indulge a seller.

ReadySteadyPop

Herzlos said:

Uriziel said:

I don't think people care too much about estate agents so changing them probably would not make much of a difference.

Estate agents make a huge difference. They may already have contacts with potential buyers - Some of the viewers of my last house were ones who'd lost out on similar, and I got to see my current place before it went live.

Good agents will know the area better, produce better listings, better photos, be easier to deal with via the phone/office/email etc.

A bad agent could easily put people off. Take Purple Bricks for example - lots of people won't even enquire about a house that's being sold via them.

That is because demand is way down and there are too many houses on the market, people used to enquire through PB, how else could they still be in business?

Herzlos

Some people still use PB, and they are cheap for sellers. Have a look at the threads on here about it.

ReadySteadyPop said:

Herzlos said:

Bigphil1474 said:

Whilst I would agree price is important, it's not always the main issue. If buyers are interested but they think it's a bit over priced, they'll put a low offer in, they won't just ignore it. That's what we did. We had a budget of up to around £350k last year but we looked at houses up to around £400k, and offered within budget. 

Have you gotten someone with a streak of blunt honesty to take a look at the listing. Maybe get them to do a dummy viewing. It could be the EA is rubbish at answering the phone or isn't flexible on appointments, or it could be the pictures. It could be all sorts. However, unless it's way over priced, it's not just gonna be price IMO. Any chance you could do some of the work you know needs doing to make it more appealing? 

That's my thinking. I'd be more put off by a bad estate agent or crap pictures than I would by the price being 10% too high.

So I'd revisit that first. I'd definitely recommend the dummy enquiry too and see if something the estate agent is doing to put people off.

Is it a reputable local agent or a cheap online one?

Really? For someone buying with a mortgage that could be extra interest they don`t need to pay on their debt if they negotiate, and if the lender says price too high many people don`t have the extra cash on hand to indulge a seller.

Listing price isn't the sale price though. People will view a nice house that's priced a bit high and bid lower.
People won't go and view house with a bad listing, or via an estate agent that's hard to work with.

crow22

Listing price isn't the sale price though. People will view a nice house that's priced a bit high and bid lower.
People won't go and view house with a bad listing, or via an estate agent that's hard to work with.

Yes thats my previous experience so its a bit of a mystery why viewings have fallen off. I dont think we will change EA, they are a good local established firm and we have a good relationship with them. The house is also not over priced, in fact its a bit low compared to comparable properties in the area but thats because it need some modernising inside. I do wonder though if people are not seeing the listing because its been on the market for a while and slipped down the list? I did a search on Rightmove last night and ours was way down at the bottom of the last page of six.

caprikid1

1 year on the market is a very long time for most markets, something must be wrong.

Forget the price others are on the market at, what are the sold prices of similar properties.

Link ?

crow22

caprikid1 said:

1 year on the market is a very long time for most markets, something must be wrong.

Forget the price others are on the market at, what are the sold prices of similar properties.

Link ?

How do I find that out?