So angry at estate agent. Should I do anything?

[TerrysNo2]

We put our house on the market last week using the price the estate agent recommended and we have had about 20 viewings in the last week but no offers.

Today one of the agents said to me it might be priced a bit high, I replied that they told us what price to use

What should we do? Drop the price straight away or leave it a bit longer. Its currently on at £340k and so I assume we'd need to drop it to 320-325k.

We're not in a massive rush to move but DS is starting school in September and we're moving area so I would like to be moved before then.

sorry if this post is a bit messy, I need a rant and maybe some positive suggestions / thoughts. Its constantly on my mind at the moment and I am losing sleep over this

Thanks!

[TerrysNo2]

DH is very cross about it and thinks the EA needs to qualify people in/out more. He is also trying to get some more detailed feedback so lets see what will happen.

[QuintessentialOHara]

Just a quick question. Is Winne the Pooh incontinent? Wonder why he is sitting on a "display towel".

Pm me if you like, I love house threads!

[TerrysNo2]

Quint That shelf lost its front piece of wood so it looked a bit rubbish, but I painted it last weekend and removed Winnie the Pooh and replaced it with a lovely vase of flowers (I will PM you the new photos!)

AFAIK Winnie the Pooh, despite his name, has no toilet issues

[Cosmosim]

To be fair, moat people won't get the hang of looking at a plan and being able to visualise too small/enough sq feet until after a few viewings under their belt. Also, sometimes it's just the easiest thing to say as feedback rather than a vague "it didn't feel like home to me"

[Cosmosim]

"Most" not "moat". Stupid fat fingers.

[happyfrogger]

My flat was on in SW London for 275 with Foxtons. They did 90 viewings over 3 months. Last week we put it on with a small local agent at the same price as we were getting utterly desperate. Had an almost asking price offer SAME DAY.

sometimes it's just luck of the draw or the agent just isn't pulling in the right buyers.

A week is no time at all in my mind. Hang in there!

[TerrysNo2]

cosmosim I guess thats true, I just don't know why they wouldn't check so they didn't waste their own time viewing!

Thanks happyfrogger I know a week isn't long and if we'd only had a couple of viewings but no offers I think I would be less confused but we've had 27 viewings in 2 weeks and no offers. The EA told us it is an average of 8 viewings before an offer is made.

I don't know what else to do apart from wait now, and I am not the most patient person in the world!

[QuintessentialOHara]

That is a lovely house!

Not sure how people think it is small? If you want it to look bigger, the only thing I can think of is removing all the chunky play units in the living room.

[Contradictionincarnate]

if you want to move in September I would suggest you need a buyer with no chain the end of June otherwise the sooner the better as the legal work doesn't take a set 3 months or anything. it could take much longer and you don't want the pressure.

[TerrysNo2]

contradiction we are going to move into rented if we can't find anywhere quickly after ours gets an offer. hopefully that will speed up the process too.

quint thank you

[TerrysNo2]

got an offer!!! £320k but no chain, dh and I will be having a serious think tonight!

[thebestpossibletaste]

Oh wow, your first offer. That's great

I wouldn't accept straight away, but have a think about how low you would go, then ask the estate agent to decline.

In my experience no one offers what they can afford straight away, they will always try to get away with less.

[TerrysNo2]

We won't accept it but need to think about a counter offer and if they refuse then what we would be willing to go down to.

A lovely couple came round this evening and seemed quite interested so I want to hear what they have to say too. The offer is from someone who wants a buy to let investment and I would personally rather sell it to someone who wants to live here as we love this house and want someone else to love it too.

[almondfinger]

Terry, can you pm me the link?

A word of advice on wanting to sell to someone who will love it like you do. Don't. Once it's gone, its not yours anymore and not worth your sentimentality now.
We sold our flat in London last Oct. It went to sealed bids and was with a first time buyer or buy to let. I like you, loved my flat and wanted to sell to someone who would love it as much.

So went with the first time buyer and she broke my fu*king heart. The buy to let had a completion time of 8 weeks so she agreed to same and was still dicking us about 14 weeks later. She was trying every angle t get more money off. Was nitpicking the survey and making big deals out of stuff her surveyor had to mention to make sure he was covered. RSJ will haunt me forever. My husband who is so laid back he is horizontal said it was the most stressful time of his life (and dd1s birth was a touch and go thing for both me and her). Due to the current economic climate first time buyers are more picky then ever and that's fair enough. Prices are high.

Take the money from whoever is willing to give you the best price the quickest, and put your love into your new home. Buy to let, less likely to be in a chain.

Don't counter offer, refuse their initial offer and see what they will offer next. It's only been a week.

[TerrysNo2]

almond I will PM you.

Thanks for your advice, its food for thought! The people who viewed tonight would be cash buyers so no chain but I do appreciate what you're saying.

I think this is a good strategy, to refuse their offer and invite them to make a better offer. Lets see what happens!

[thebestpossibletaste]

I agree with almondfinger, stop worrying about people loving it. You're selling and moving on, think about a safe sale and getting close to what you want instead.

[almondfinger]

It's a lovely house. I can see where people are coming from in that it is small. It looks really decluttered thoug.

I cant remember the answer, is that fireplace in the hall? It does look like it needs something on those empty shelves.

I would take down the frame with the family pictures in the sitting room and replace with some Art. Sorry, I'm another who's not a big fan of too may personal bits around a house for sale.

Do you have any bed side lights in your room? A lamp on the chest by the bed, switched on for viewing would make it look really cosy.

Love the stripy wallpaper. The bathroom is spacious and spotless as is the kitchen.

Good luck with the sale. Have a figure that you are willing to accept and take it when offered. This is a business deal, that's the one thing I learned from our sale. It doesn't matter how much I loved the place. I'll love the next even more.

[TerrysNo2]

Thanks for your comments almond I hope I won't have to use them if this offer comes off but if not and the viewings continue I will definitely review

[almondfinger]

Apologies for appalling spelling and grammar. Sticky keys and v tired.

[FishfingersAreOK]

Have been lurking and keeping my fingers crossed.....and cannot bear it anymore.....please may I have a link?

[Plumsofgold]

Can I have a link please :)

[TerrysNo2]

Have PM-ed you both

[FlowersBlown]

Also, don't believe them when they say they will love the house as much as you do. My MiL sold her mother's house to a lower offer after getting this line. They did minimal modernisation and rented it out. She was extremely upset. Go with the money.

[TerrysNo2]

thebest can you give me advice on what the EA has said:

• he said that even though its been on the market for 2 weeks we've had 34 viewings and no offers so he thinks this is a very good offer
  
• they originally said that we could get £325 - 330k so its within range (even though they also said £340k was achievable previously)
  
• they "usually" get an offer after 8 viewings so this has taken many more which is why we should accept it.
  

I have said its lower than we are willing to agree at and to go back to them.

DH wants to hold out for £30k but I am a bit torn, the trouble is I believe everything anyone tells me

What do you think?

[thebestpossibletaste]

Terrys,

2 weeks really is nothing! It's your house and you decide what to accept. I think if it had been months or even years (which is often still the case up North!), then yes, you would definitely need to reconsider, but the price can't be that far out as people are viewing your property.

Have the EA declined the offer and had a response from the viewer yet?

If it was me, unless I was absolutely desperate to move asap, I would decline the offer and wait to see what they come back with. You don't have to decide what the final figure you accept will be yet, just wait to see what they come back with.

In my experience no one accepts the first offer, the people putting in the offer will surely have a final figure they are prepared to pay in their head that they will go to! I'd be very surprised if that isn't the case ...

I too would hold out for £330 K tbh.

EAs always go on about getting an offer after an average of X viewings, but that's not always the case, and it is an average - each house and each case is different.

(Can't understand your EA - we wouldn't handle it like that - after two weeks! - and nor would my boss)

Let us know what the viewers say when you decline the offer