When selling your house how long would you wait before dropping the price?

[JoJoMummy321]

Hi,

We went on the market last weekend. We were on the estate agent's website on the Friday afternoon and then all the other websites, Rightmove etc, picked it up overnight to be live on Saturday.

So far we have had one viewing (today) and have another one booked in for Sunday.

I know it's early days and we need to factor in people being on holiday and the school holidays (although ours is not a typical family house) but I just wanted some opinions on how long you wait before thinking ok...it's not happening maybe it's too expensive.

I have read all the posts about vendors not being realistic with pricing and am keen not to fall into that category!

Any help would be much appreciated. We are hoping to be sold and able to relocate by end of April 2012 (September 2012 at the absolute latest) so that is our timescale if that helps at all.

Appreciate any points of view!

Where are you in the country? I think that is making a difference at the moment. Only being on the market a week I would say hold fire. Maybe have a good frank chat with the EA. If they are good then they should be able to guide you properly.

If you think the price is reasonable then hold on for a few weeks at least. Important to make sure the board is up outside the property and the photo is in the estate agents window, as lots of people like to browse areas on foot and if the photo isn't in the window, they can't see it. or they like a certain street and drive past in the hope something has come on the market there.

Also, can you ask the agent if an open house would be a good idea? Make it all very glam, offer cakes and coffee and get as many prospective buyers around as possible.

Hold out until after the schools go back at least(ie mid September). That will be when people seriously think about moving for Christmas. If you are getting interest during August that is a good sign.

Thank you all so far!

Gonzo - we are in Scotland. I have noticed a few UNDER OFFER signs going up in the area recently but not many.

We have ended up with 3 viewings today! The one that was booked in, another that called late afternoon to come at 7.30m and another that rang the bell and very nicely asked if they could have a look around for their son. So that's 3 and we have one more booked for Sunday. Unfortunately the ones at 7.30pm are downsizing and feel our place is still too big so they are not contendors bur at least they were honest.

Menangerie - We have a sign in a good position but I have yet to check if we are in the Estate Agent window. I will check tomorrow though. I bought some nice flowers and an Open House is a good idea. Perhaps in a few weeks when people are generally back from their holidays.

Lizs - Thank you for the advice. I think that sounds sensible unless the agents think otherwise. As we are in Scotland, the schools go back over the next week or two, a little earlier than in England. As we are not a traditional family home, I am not sure how much the schools affect us but I guess in general it's holiday time isn't it and people are away.

Oh, it's not very nice this selling business is it!! I'm only a week in so I think I had better find a way of calming down about it!