On market for 10 days - viewers say house 'too small' - do we reduce price now??(66 Posts)
We've had our house on the market since last Tues, and in that time had 4 viewings. 3 out of the 4 viewers have said the house is too small. It's a standard 3 bed terrace with kitchen extension, garden and garage. Same as most houses in the area. EA says 'too small' is code for they're expecting more for their money. I've had an exchange of e-mails with him this morning re: price reduction (5k).
Do we do it now or is it too soon?? I know I'm an impatient person!! We don't have a deadline to move other than by next Easter, but I know I'll get more stressed as time goes on, as well as the annoyance of having to keep the house 'viewing-ready' for months!!
South Manchester area hopefully - more expensive than where we are
runninglou - where are you wanting to move to?
Remember that buyers have to say something to the EA because "nah I just didn't fancy it / it didn't click for me" is too vague. "It's a bit small" is an easy thing to say with little comeback.
Thanks everyone! DH thinks I am slightly mad to disrupt kids' lives by hiding all their toys in the loft, but I really hope I will be proved right if the house sells!
We have another viewing tomorrow afternoon, and then a second viewing on Thursday from a buyer who was round last week. She is looking for a buy-to-let investment so probably less bothered about spaciousness anyway.
Just waiting to hear back from EA about getting some new pics taken now ...
You have done a fantastic job with the fireplace and the dining room - it looks great. I will be really surprised if you don't manage to make a quick sale now.
OP, new photos look amazing, best of luck
Someone said "garage looks ripe for conversion"
Sorry to be an idiot, but conversion to what? It looks to me perfect as a garage, with room for storage and/or a work bench.
The house looks great, btw, I wish my house was so presentable.
Message withdrawn at poster's request.
It's a bit too early to reduce it I think. But on the other hand an EA told me that most viewings come when the house first goes on the market. So if you got a reasonable offer it's definitely worth considering it. But the market is supposed to be on the move up but then that could affect the house you are buying. It's difficult.
"It's too small" isn't some sort of code for "drop the house by £5k". If they wanted the house but for £5k less then they would have offered £5k less. Those buyers are just not interested in your house as it is too small for what they want.
I have to admit, the storage in the fireplace and dining room were the things I noticed, but now they look so much better! More streamlined and less cluttered. I am def going to come and ask MN opinion when we put our house on the market, it's a font of wisdom. Hope you get an offer soon.
That looks really good! Hope your hard work pays off.
It is a lovely house, very tidy and neutral colours.
www.rightmove.co.uk/property-for-sale/property-42936848.html same sort of house size - but smaller kitchen and they want 5k more
www.rightmove.co.uk/property-for-sale/property-27770763.html this one is on a main road yuk but 5k more and againn similar size rooms but smaller kitchen
www.rightmove.co.uk/property-for-sale/property-27518142.html?premiumA=true this on e is right on the dual carriage way and again very similar size rooms and they want 5k more - but yuk to living on a main dual carriage way
WOW - that looks so good, really good job on the fireplace - hope it sells soon
Decluttering done - toy storage has disappeared and we redone fireplace and added a mirror above (thank you to whoever suggested that!). Have e-mailed EA with some pics to see if he wants to change the ones on our listing.
Also added to my profile if anyone wants to compare!!
Message withdrawn at poster's request.
Message withdrawn at poster's request.
ooh, i'd go the other way and lose the DVDs.
you only need a few DVDs near the DVD player, and the rest of the bookshelves should be books.
organise them better - double stack paperbacks, meaning that they are further to the front of the bookshelves and put posh hardbacks in more prominent positions.
spend a bit of time thinking about how to arrange your books - make people think about the theme.
"If your EA is telling you to reduce after only 10 days that just tells you your EA is useless - they possibly may have over-quoted the price you could get in order to get your custom and have been planning to get you to reduce all along. They may have been bringing around people who have told them they need 4 beds or 3 large beds big enough for sharers, rather than people actually appropriate for this house, in order for them to be seen to be getting viewings."
EA tend to do that a lot, when we were renting they showed us completely inane places, of course it is too small if you want 3 double bedrooms! I think that is most of the problem.
Right, well, I have instigated a plan to declutter living and dining area and conceal / get rid of toy storage as much as possible. Am going to lose toy unit in front of fireplace, replace with board papered to match the wallpaper, and put a vase / other toddler bait in front of it.
Am also going to remove one of the other storage units completely and look at putting DVDs on bookshelves, losing books to loft ...
DH is dead against this and thinks I am taking viewers' critiques too seriously but I feel we need to do something.
When we've sorted that - hopefully this weekend - I'll get back in touch with EA and ask for new photos.
This is exactly what happened to us!
EA assured us we would get x amount. The house went on the market and the first few viewers said it was too small. They suggested we drop by £5k. We agreed.
Viewers liked the house but said they could get more for their money nearby
in areas not as nice as ours. EA then had the cheek to try to talk us into selling for £15k less than asking price. He asked what was the lowest possible price that we could sell at.
Once the contract was up we decided to come off the market. We are now waiting until next year spring.
Very disappointing and disheartening.
It's very early days to be looking at dropping your price. The house looks a good size for the price and as you have had several viewings That's a good start.
If your EA is telling you to reduce after only 10 days that just tells you your EA is useless - they possibly may have over-quoted the price you could get in order to get your custom and have been planning to get you to reduce all along. They may have been bringing around people who have told them they need 4 beds or 3 large beds big enough for sharers, rather than people actually appropriate for this house, in order for them to be seen to be getting viewings.
Do a proper browse of Rightmove and Zoopla for your area. tbh your house may be over-priced as in the 30 seconds I had to look on rightmove I found a house in your area at a similar price where the master bedroom was twice the size as it extended out above the rear extension, and also saw a house with near-identical floorplan being marketed at £7,500 less. These are the other houses your potential buyers will be visiting - perhaps consider going and visiting them yourselves? (you may need to use a friend as cover as competitor estate agents aren't going to take kindly to this) That may help you work out if your house is genuinely correctly priced in relation to other properties that people might buy.
Store some o your stuff to make it feel bigger?
Presumably your EA was the one recommending the price you're marketing at - you could challenge them wanting a price reduction by asking what they based their original pricing on! It is too soon to reduce. You're getting viewings, and I think "too small" is probably viewers looking for something easy to feedback. Ask the EA to question viewers whether there is a specific room or area they mean - if no it's a case of can't think of anything else to say, if they do have specifics it can help you.
I agree with PP re toy storage. We have a smaller third bedroom but for various reasons couldn't put a single bed in it so we put markers on the floor to show how one could fit in. We could explain this as we did most viewings. You also have a fab garage - is this decluttered/organised?
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