How long would you give an estate agent before changing firm?

[Pinkgin00]

Our house has been on for sale for a few months. We had 2 viewings immediately and had nothing since. The agent hasn't been particulary forthcoming, I have to chase them for updates. They have suggested a price reduction, but I am checking Rightmove frequently and the house appears to have been valued in line with similar houses.

The agent hasn't really said much, other than the market is quieter than usual. This may well be the case with all the uncertainties right now, but I have seen other houses go on the market and being under offer within a week.

I am feeling a little deflated with the lack of interest and wondering if we picked the wrong agent, or if I need to be more patient. This is the first time we are selling a house, we live in an area that is in demand with excellent transport links, schools etc so I naively thought we would have had more interest.

It’s quite clearly the price. Two viewings in a matter of months is pitiful.

Check your contract with them which will have a contracted period where you are tied to them. If that has lapsed, give them notice and find a new agent.

You’re clearly not happy with their customer service and that’s a good enough reason to change agents.

FWIW the market is really quiet everywhere.

I know. There was a third, but they cancelled before actually viewing. The issue is , all other similar houses are priced around the same so are all agents over inflating the prices

I'd say six months unless your contract is different.

You are having this because of the system for sale and purchase of houses, which I think should be changed.

Round here, contracts are normally around 3 - 4 months. Are the other similar priced houses on Rightmove selling?

How long is your contract with the agent. Some are a twenty week contract, then a two week notice period. If you’ve only had a couple of viewings, I agree it’s price. Your house may have been valued in line with others in the area, but if it isn’t getting viewings, there’s no point in hanging on for the price you’re asking, if you really want to sell.

The contact is only 28 days, so we are within the rights to serve them notice, but I don't want to act rashly if we are being unrealistic.

I also don't know what is normal service for an EA, ie how often they should be in contact etc

If similar houses are selling I'd give notice as soon as you can and switch to a new agent once notice expires. It might make your agent actually do something in the meantime.

Can you post the listing, OP? You will get some helpful advice

If the agents are inflating the prices, none of them will sell. I think only people who have to move and who acknowledge how different the market is, are selling currently.

Just because the house is similarly priced with other comparable houses doesn't mean it isn't overpriced. They all could be. Check what similar houses have actually sold for, that would be a better indication of whether it is priced correctly.

If other houses seem to be selling quickly and the market still seems good where you are then, unless there is a reason your house is putting people off (on a busy road/next to a HMO for example) then it is overpriced.

This is how EAs work. Suggest ridiculous marketing price to win your business, then persuade you to reduce the price to what it always should have been. No point changing EA. Just sort out a realistic price.

3 houses have gone up for sale recently on the street we live. One sold within 2 months, but it was priced higher as it had a brand new kitchen and bathroom, albeit she reduced the price from the original val.

Ours is clean , tidy and clutter free, but the kitchen and bathroom isn't as modern , this is reflected in the price.

You’ve said above the price is over-inflated?

I am not an expert, we had 3 valuations and there was a 10k difference between the lowest and other two. We went with the higher one since 2 firms valued it the same , then picked one based on first impressions. Maybe they both inflated the price, but you sort of trust they know what they are doing. As I said though, never sold a house before so this is all new for us.

Sounds like highly overpriced.

How much higher are you talking?

Plus, it may have sold because they accepted a much lower offer.

Hers was valued 50k more originally , but she reduced it by 20k and it sold not long after , I don't know what she accepted

I don’t understand why you think this is the issue. If every other property is overpriced too, surely the way to make yours stand out is reduce the price?

This is my concern as the houses we are looking at seem massively overpriced too.

Aside from price, which it may well be, how often would you expect contact from your agent?

The last time I sold a house was in a very different market, but I only heard from them when they had viewings or offers.

I work in property sales - you can ask your agent what advertising they are doing for your property. Has it been put onto their social media pages for example?
You are paying your agent so they are working for you, so if you feel like you’re not getting what you’ve paid for then you need to talk to them. Ask them why they think it’s not getting views - for example is your decor a bit dated? In which case a freshen up and some new pictures could help gain more interest. Eve things like having fresh flowers, making sure lights are switched on, removing as much clutter as possible and then having new photos taken can help.
And obviously reducing the price will also help.
Your agent will likely only really be in contact to let you know if you’ve got viewings / offers. They have many many properties and homeowners to deal with at one time, so if you are dissatisfied it needs to be on you as the owner to raise any issues about their communication.

That's the thing really. At 50K more it was probably overpriced to begin with. If, after the reduction, it ended up being only 30K more than yours, and they accepted an offer 20K under that, then it could well be that it sold for only 10k more than yours is on for, if you see what I mean.

People will only pay what they think a house is worth and if people are looking at it thinking its overpriced, and it needs modernising, it may well be putting them off even coming to view. Costs of new kitchens and bathrooms seem to have gone up and building costs too and more people seem to be wanting something ready to move into, or they want a bargain if they need to do work.

I think you may need to go for a reduction but it depends on how desperate you are to sell. But you may need to be a bit more realistic in what you can get for it.

Have a look on Rightmove and Zoopla at what comparable houses in the area have sold for and it may give you an idea where your asking price needs to be to get more interest.

Good Luck!

So we stuck to our guns and decided not to reduce the price too quickly .We are at 3 months now and had a bit more interest, someone viewed our house this week who left positive feedback and has booked in for a second viewing. This is the first second viewing we've had.

Any tips for second viewings, I am really hoping we get an offer as we have seen a house we like and it would put us in a better position if we have an offer on ours. The agency is planning on doing the viewing again, I am unsure if this is for the best or if I should do it? They haven't given me the option, just booked the appointment.