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Questions for those selling property

9 replies

TulipsfromAmsterdam · 15/08/2012 14:52

We recently put our house on the market (3 weeks ago) and to date there have been no viewings. I have reduced the price already as I hoped this may help and while I know it is early days am slightly disappointed. We are in the north east and I am not really expecting a quick sale but some interest would be good.

Just wondering what it is like in other areas and how soon did the viewings/offers start?

OP posts:
Spirael · 15/08/2012 15:26

You probably don't want to hear this... We're in Yorkshire, so not too far away. We put our house on the market last September and had no interest/no viewings. We took it off in November.

Over winter we completely gutted and refitted the kitchen (it was awful), then put the house back on at the same price. We had a couple of viewings over the next four months, though neither were proceedable.

However, I think our problems to this point were that, unfortunately, we made the wrong choice with the estate agent we went with due to friend connections.

We changed estate agents and after about a week or so with the new team started getting viewings, some of them proceedable. But unfortunately there is such a glut of similar low-cost houses in this area that they all found somewhere they preferred.

Then for the last fortnight or so it's just all dried up! I've spoken to the EA, asking whether we should drop the price, but apparently the market is just dead as a dodo right now around here - lots of houses for sale and very few buyers.

Have you spoken to your EA about whether the situation is similar in your area? Is advertising and holding an open day feasible? We did, and though no-one turned up on the day, some of our interest the week after came from people who had noticed the adverts for the house.

However... I'm sure someone will be along in a minute to tell you that your house is definitely overpriced, you're just being greedy and you need to cut your price by 20% and then expect an offer 20% below that. Wink

RCheshire · 15/08/2012 17:11

I sold two places in the last 18 months. You don't want to hear this, but I'm afraid most viewers appear in the first few weeks if it's going to sell easily.

If you think about it, there is a pool of people looking for a house with x bedrooms of y style in z location. Those people all see a new listing when it appears on Rightmove/when an agent phones them if they're on the books, and decide if it's worth viewing. If they all dismiss it then you've lost all those actively looking and are sat waiting for new people to appear who are looking for the same thing.

I'm always confused when people say that their EA has said there are no/few people looking to buy. How does the EA know those people not on their books? I look on Rightmove each day for something suitable but I don't tell any EA I'm doing it - they'll only know if I see something suitable/at the right price and contact them to arrange a viewing.

RCheshire · 15/08/2012 17:32

This is the lastest RICS survey,who should give you an idea of what is going on in your area - or at least a broader perspective than your EA. It talks about the 'number of enquiries' as well as listings/sales/prices etc

crazyaccountant · 15/08/2012 17:49

I'm in the north east and have just recently bought and sold a property if you want to PM the link on rightmove il happily give you an opinion of pictures etc as often first impressions really count as often a lot for sale so your details need to stand out to prospective buyers and some estate agents are dreadful at taking the pictures and writing up the details.

Springhasarrived · 15/08/2012 17:55

My house is going on the market fairly soon due to imminent divorce. Have to confess I am slightly cheered by this thread as I am not that keen to move just now.
What is it like getting the house ready for sale and then not getting any viewings? I cant imagine I will stick to the mega tidy thing for too long if viewings dont materialise. Hmm

MissHairspray · 15/08/2012 18:13

I'm in the North East too, house went on in May, have had about 9 viewing since then and one proceedable offer which was then withdrawn after about a week. I think it has just been really quiet recently though, with summer holidays and the Olympics not helping.

bumbez · 16/08/2012 23:16

It could just be down to timing, we put our house on the market last August having just missed the spring rush we averaged about a viewing a month, then switched agents in February, changed the price from 325 to offers over 310. (we would always have accepted 310)The next agent got 3 times as many viewings. I think a combination of much better marketing their photos were fantastic and the market had picked up again. We are sstc and waiting to exchange but it has taken nearly a year!

I think lots of buyers go into short term rented to avoid getting into long chains and in the hope that prices will further decrease so they can get more for their money.

Zhaghzhagh · 17/08/2012 05:35

Honestly, everything will sell for the right price. It really is that simple.

noddyholder · 17/08/2012 07:13

A price drop needs to be significant to work ime. When house price falls gather momentum even the 3 months between offer and completion makes difference and buyers want to make sure they don,t over pay. A house has no intrinsic worth it is based on what they buyer think and availability of funds. anyone wanting to sell now needs to price at what will still be seenasa bargain at Xmas in order to attract and keep a buyer

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