Panicking I may have made the wrong decision re agents/price.

[SpringyReframed]

I wont put too much detail in as I dont want to out myself but ....

I am very keen to move now my divorce is settled. The house was valued about 2 years ago for that. When I had 3 different agents round this time I had two with a valuation way in excess of the old valuation (and exactly the same figure) and one who was coming in more or less the same valuation as two years ago. The two higher valuations are well respected national chains, the lower a one man band.

I've gone with a higher valuation agent who was so keen to sell I got a lower % without even negotiating. The house has been on the market for 3 weeks and I've only had one viewing. They liked the house but not the village. There are several houses of similar size to mine for sale in this village and at vastly differing prices. Despite the fact that we are in what I would call South Central (not SE but plenty commute to London from here) nothing seems to be shifting. We have a very popular primary school, shop and pub so nothing wrong with the village other than not being chocolate box. The photos of the house are very good and I worked hard to get everything up together.

I'm looking forward to a new life not just a new house and I'm just panicking this is not going to happen any time soon. I dont have any need to worry about moving in time for schools etc as DC finishes school this year.

Have I made a mistake with the agent/asking price or is it too early to tell?It is hard doing this sort of thing without a partner.

[magimedi]

Three weeks is nothing - and it's been bank holiday when a lot of people go away.

If things haven't improved in a couple of weeks then start to worry.

Am assuming the house is on Right Move, Zoopla etc.

And keep chasing your agent & ask them what they are doing to encourage viewings.

[SpringyReframed]

Yes it's on all the websites, is in the local paper today etc. I havent had a board outside but I have asked for one today.

The agent says everyone has been away but when I read on here that houses are being sold in the SE within the week I was pretty shocked.

[AbsentFromTheOssuary]

You can always lower the price of a house. You can't make it higher if it sells in a couple of days.

Prices have gone up in the last 2 years nationwide so i'm pretty sure you have made the right decision. Easter can be very quiet as folk are away and busy with family.

[perfectview]

We are in SE near good schools, town and station, and good commute to London and it took a few months for us to sell for the right price. When prices are high take with a pinch of salt all the stories about houses flying off the shelves. The media is certainly doing their part in creating this housing 'boom'. We had our house valued about 2 years ago too and the offer we received was 40k over those so prices are definitely going up but it is still a lot of money for people to spend and they are not buying without serious thought. I just kept in mind that I wanted a buyer who would 'stick' and not drop out because they had stretched themselves too far.

[Pooremployer]

I am an EA. In all honesty, I am surprised your agent put you on the market given the 2 week Easter holiday period. They should have given you the option to wait. Thing is a lot of people go on holiday over Easter so sadly, the "newness" of your property has been lost within that time.

Family homes are difficult to sell during holiday periods because parents can think of nothing worse than house hunting when the kids are not in school etc.

Against previous comments, prices have not gone up nationwide. There are many areas that have remained stagnant.

[Gemma77]

I think it also depends on what price bracket your house is in. We are in the SE and sold our house in a day but it was at 250k so just before the stamp duty hike. however the house we are buying (also in the SE) was up for over a month before we made our offer - it is in the 400s bracket and I think there are much fewer buyers when you go up the price ranges.

A couple of weeks is nothing, especially with the Easter holidays. personally I would give it another two weeks before considering a price reduction.

Good luck

[AbsentFromTheOssuary]

Apols if i've got that wrong poor - i can only speak for three folk i know who have bought and sold in that time frame. One in Shropshire one in County Durham and one in Kent - their house values have increased quite a bit.

Not sure exactly where OP is.

[SpringyReframed]

Poor my agent was absolutely champing at the bit to get my house on the market. Hopefully the fact that the sign is not yet up and its only gone in the local paper today will give it a bit of newness factor? There was some kind of property exhibition going on in London they were running and she wanted photos etc done in time for that and then it went on line.
I am an hour west of London, and yes in the 400's bracket so perhaps the market is slower like you say Gemma. It is easy to misunderstand what's going on in the market.
Thanks for helpful replies, feeling slightly better.

[WetAugust]

I wouldn't chose an estate agent based on the one who gave me the highest price estimate. I'd chose the one who gave me a realistic expectation of valuation.

All that happens when you go with the highest is that you wait for offers and the same estate agent who valued it so highly eventually tries to persuade you to reduce your price.

[JumpingJackSprat]

Give it a bit of time. We got a bit twitchy about our agents not seeming to do very much. Two days after we talked about reducing the price we had an offer from our third viewer. I'd leave it 5 -6 weeks before reducing the price.

[Pooremployer]

The stories I hear about English estate agents makes me toes curl! If you were my client and I am in Scotland I would have advised you to wait. You seem to be selling a family home and I am just not sure why it was out on the market when most families are not looking but may be that's just me and how i do things differently.

Good luck with your sale though. It has only been a few weeks so sit tight!

[MillyMollyMama]

Round here loads of people look at Easter, May and late May holidays to get into the right catchment area schools. It is a good time to market a family house. However, I would look at the sold prices, not the asking prices. There may well be a difference and this could be why buyers are backing off. Do some homework on Zoopla to see what similar houses in similar villages have sold for and price near to these. Also, and I am sure you have, get your kerb appeal sky high. In the past we have done drive pasts to see what we like the look of and short list from there.

[MissMysticFalls]

In the area we're looking at, properties at 250 zoom but those above are hanging around (in the South East) if that helps. Also agree that Zoopla is excellent for seeing how long similar properties have been on the market for (and still are). Good luck. It must be hard selling in your situation.

[SpringyReframed]

MissMystic, yes it is hard selling in my situation. I appreciate the sympathy.

I had two agents at the higher price and one at 30k lower. It would have been hard to go with the lower valuation as if I had sold quickly I would have always wondered "what if". Also the lower valuation is a one man band and you just wonder how much he would work for you and how much for himself? I was expecting the lower valuation tbh, so I feel a bit of a fool, BUT they are experts and I am not so I took their advice. I told all of them that this was a "serious" sale and I wanted to be gone by August so I wasn't intending to hang around for months waiting for a high price. They STILL were insistant....Oh dear.

JumpingJack you story has cheered me up slightly. Fingers crossed for this week.

[MillyMollyMama]

I think a one man band needs to work hard! He totally relies on his own efforts for an income so why would he not work hard for you? I think it is the chains who can be less than committed and often employ people who are very inexperienced, and extremely young! Some I have met are hardly experts! If you do some homework yourself you are in a better position to judge what the asking price should be. I would be inclined to go and see the Agent who suggested the lower price and see if a £15,000 mid way reduction might be a saleable price. Did he, for example, have clients who would have bought your house at £30,000 lower? A bird in the hand etc. If no-one is viewing your house when it is new to the market, there must be a reason. It may not just be price so an honest appraisal of its good points and not so good points is definitely worthwhile. If houses are not selling, then a price hike of £30,000 seems hopeful rather than justified. I feel for you in this situation and I do hope you get lots of viewings soon.

[SpringyReframed]

Thanks Milly

I dont think there is a thing I can do to improve the house. I've worked towards the sale for the last 2 years really as I've know since then I would move this summer. I remember well what I liked and didnt like about the house when I first viewed it many years ago and have done everything I can to address those things. The kerb appeal was poor for me. I nearly didnt come in but decided I might as well. By the second room it was sold! Ive changed everything I can about the front of the house and it does look nice now - garden, front door, pots etc.

I sent all the details to friends who I asked for honest opinions including an estate agent. No one has any negatives. I actually think the photos are so good they look better than the house is, so if I were getting loads of viewings and no offers I would imagine that was the reason.
The two agents at the higher valuation both intimated that they had clients for the house, both were middle aged and seemed very experienced, not youngsters. I didnt particularly like the one man band bloke which didnt help.

I'm tied in to my agent for 12 weeks so I've got to give it a go. I thought I would give her a call today. Not sure what I am going to say really though? Good to have MN to have a vent!

[SpringyReframed]

Thought I would report back to say I made the call, got the price reduced and guess what - accepted an asking price offer yesterday! Fingers crossed!

My agent is useless and a bit of a bully but at least l've now flagged that up to myself and I can work round it. She wanted me to accept 5k lower than the reduced price and I said no way. Hey presto, 20 mins later I had got the asking price.