House selling- what am I doing wrong?!

Ridgeback_Red

Just after some advice regarding house selling! 
My house has been on the market since end of September, initially lots of viewings but I've had nothing for the last 8 weeks. The feedback I get is nothing I can improve on it's normally "we've found a different house" etc.
For context, it's a 3 bed end of terrace with 2 allocated parking spaces. I had 3 estate agents come out and valued it at £250,000. I put it on the market for this price but last month reduced it to £240,000 but haven't had a single viewing since.
I'm happy with the pictures and description. I think it's priced accurately. Is there something I should be doing more of? Any advice and guidance would be appreciated.

gwynlas

If you have had a number of viewings and are happy with description. photos and feedback received then there is nothing you can do but wait.

A £10k reduction is neiter here nor there as serious buyers would make offers anyway.

You only need one buyer
hopefully the right one will come along

Neil49

Unfortunately you are now in the worst time of the year for selling a property as most people are concentrating on Christmas and house purchasing will be on the back burner. 

Now is a good time to review your listing and make comparisons with other properties on the market to see how those are photographed and presented. Once you are into the new year the market should pick up again. 

Bigphil1474

We put ours up in October 2023, plenty of viewings but didn't get a proceedable offer until January 2024, which then fell through, then got another one in March 2024 which completed in August 2024. We were around the £190k price. Just give it a couple of months.

ReadySteadyPop

gwynlas said:

If you have had a number of viewings and are happy with description. photos and feedback received then there is nothing you can do but wait.

A £10k reduction is neiter here nor there as serious buyers would make offers anyway.

You only need one buyer
hopefully the right one will come along

There is a lot you can do, viewings don`t mean a great deal, people will say any old thing for why they are not interested, in many cases it will be about the price, offers are more concrete but most lenders are down-valuing now so you have to accept that your initial asking price is just an ideal, it isn`t necessarily going to be market reality. Drop the price by 25k and see if you get any serious offers at that level.

quotememiserable

It's pretty normal. At the time you listed, there would be a set of people currently looking to buy in your area. So you get a rash of viewings to start with. Since none of them wanted it, you're waiting for people new to market, and it happens at a slower rate.

Herzlos

ReadySteadyPop said:

gwynlas said:

If you have had a number of viewings and are happy with description. photos and feedback received then there is nothing you can do but wait.

A £10k reduction is neiter here nor there as serious buyers would make offers anyway.

You only need one buyer
hopefully the right one will come along

There is a lot you can do, viewings don`t mean a great deal, people will say any old thing for why they are not interested, in many cases it will be about the price, offers are more concrete but most lenders are down-valuing now so you have to accept that your initial asking price is just an ideal, it isn`t necessarily going to be market reality. Drop the price by 25k and see if you get any serious offers at that level.

I've never viewed a house and turned it down based on price. Neither did any of the viewers who didn't go on to offer. 

If price was the only issue, they'd view and make a low ball offer especially in England where offering below asking is the norm. 

I'd recommend droppning the price as a last resort, especially by such a huge margin. What makes you think it's £25k overpriced?

I'd argue that the group of people who'd buy it when listed at £215k but not when listed at £240k is near zero. More likely it the winter house buying lull or something else preventing people going from viewing to offering. 

Bigphil1474

Agree with above. If price was the issue they would have offered a low ball amount. The market usually picks up after Christmas. 

EssexHebridean

In fairness, one thing that can be guaranteed when one of these threads comes along is that Crashy (now RSP) will "pop" along almost immediately suggesting that you need to drop the price by a huge amount, and frankly, another thing that can be guaranteed is that an awful lot of the time, it's simply not the case! 

Herzlos

I'd be less annoyed if he was spamming links to some useless service instead of giving out terrible advice.  I can't fathom how he hasn't been banned given how many rules he violates and how often he must get reported. 

The extra frustration is that at some point he may actually be right, and that a house is overpriced, but because it gets parroted every time without any understanding of the situtation we'll miss it. 

horsewithnoname

Herzlos said:

I'd be less annoyed if he was spamming links to some useless service instead of giving out terrible advice.  I can't fathom how he hasn't been banned given how many rules he violates and how often he must get reported. 

The extra frustration is that at some point he may actually be right, and that a house is overpriced, but because it gets parroted every time without any understanding of the situtation we'll miss it. 

He’s been banned several times I believe 🤨