House selling- what am I doing wrong?!

Slinky

horsewithnoname said:

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 🤨 

I don't know why he's here. In all the many iterations, he's never actually started a thread and asked for help. Just offered endless opinion that whatever it is, it's overpriced.

paulintheprocess

If you’ve had nothing for eight weeks, it usually means buyers think there’s better value elsewhere. Even a small shift in price can make a big difference to getting viewings going again.

Also check your listing is actually being pushed properly. Sometimes agents let things go stale and stop promoting it. Fresh photos or a new headline can help bump it back up.

Talk to your agent about what similar houses nearby have actually sold for recently. If those are coming in lower, you’ll need to adjust. The market is slow in a lot of areas right now, so it’s not necessarily anything you’re doing wrong.

EssexHebridean

This is probably not the time of year to be adjusting price on anything other than a property you HAVE to sell immediately, regardless of how low an offer you have to accept to do so. Absolutely yes to tweaking photos, listing details etc  - stuff like that can really have an impact - but chances are that right now, it won’t see any more offers come in. Better to reserve a price change - or even a complete relisting - for the New Year when things pick up a bit. 

ReadySteadyPop

Herzlos said:

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. 

I see, nothing to do with money, ok got it.

sheramber

ReadySteadyPop said:

Herzlos said:

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. 

I see, nothing to do with money, ok got it.

For how long?

monkey-fingers

ReadySteadyPop said:

Herzlos said:

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. 

I see, nothing to do with money, ok got it.

I see you're still trying to give financial advice, despite not being in the market for over 20 years and making a huge mistake.

RelievedSheff

Just bear with it. Houses can and do sell at this time of year, you just need to find that one buyer.

We listed our property for sale at the agents suggested guide price which we thought was optimistic towards the beginning of November. 

We accepted an offer from first time buyers £10k below guide price but which was more in line with what we thought it would achieve the week before Christmas.

Someone will be out there to buy your house. You just have to find them and make your house stand out to them.

ReadySteadyPop

paulintheprocess said:

If you’ve had nothing for eight weeks, it usually means buyers think there’s better value elsewhere. Even a small shift in price can make a big difference to getting viewings going again.

Also check your listing is actually being pushed properly. Sometimes agents let things go stale and stop promoting it. Fresh photos or a new headline can help bump it back up.

Talk to your agent about what similar houses nearby have actually sold for recently. If those are coming in lower, you’ll need to adjust. The market is slow in a lot of areas right now, so it’s not necessarily anything you’re doing wrong.

It can also mean that demand for the area is down, is that the case OP? Not all houses will find a buyer.

RelievedSheff

ReadySteadyPop said:

paulintheprocess said:

If you’ve had nothing for eight weeks, it usually means buyers think there’s better value elsewhere. Even a small shift in price can make a big difference to getting viewings going again.

Also check your listing is actually being pushed properly. Sometimes agents let things go stale and stop promoting it. Fresh photos or a new headline can help bump it back up.

Talk to your agent about what similar houses nearby have actually sold for recently. If those are coming in lower, you’ll need to adjust. The market is slow in a lot of areas right now, so it’s not necessarily anything you’re doing wrong.

It can also mean that demand for the area is down, is that the case OP? Not all houses will find a buyer.

All houses will find a buyer. It's just a matter of timing, pricing and patience. 

curtis122

We had our house on the market, lots of viewings in the first month then went quiet. I came on this forum for other peoples advice /experience and saw the 'its the price' you need to lower it. We were priced just below what other prices were for similar properties and as other people stated here, if it was priced wrong people would have given a low ball offer, we were getting no offers for the first few months.

What effected ours was there was too much other competition, we live on a huge housing estate and there are several other new housing estates dotted around so if you wanted a 4 bed detached house you had your choice of many that were on the market also. We had many people come round and have another 5/6 houses to view and one even had 10.

Luckily now we have sold it, we did end up dropping 15k in the negotiation but we also think what helped is that less came on the  market over Christmas but we are praying it does not fall through. As people say you have to just (frustratingly) wait for the right buyer.