Price way too high but DH & EA being arses.

[MagersfonteinLugg]

House on the market now for over a month and not one single viewer.
DH put it on at a stupidly high price (£234,950) based on what the EA said, even though I told him it wasn't worth that much and I wanted a quick sale so should put it on at the price we originally expected (£210,00).
DH and EA have now agreed to drop the price to £229,950 But it's still too high in my opinion.
We are never going to get away from this house and will still be her in a years time at this rate.
How can I get him to see that he needs to drastically drop the price or we will never sell it?

Well you need to be more forceful, during the 80/90s crash I knew several people who chased the market down. I don't know if it's greed or what but people just seem to go into klondyke mode with property. The price you want to sell for is roughly 20% off estate agents valuation. That's about right the 210. If you look at areas in london the vast majority are reducing and still not selling. So you have to aim for 20% lower than similar asking minimum

He knows the market.....we have 2 houses on this street up for sale too but both are way overpriced and have been on the market for over a year.
We agreed to move because of neighbour issues so wanted a quick sale. But DH seems to think he can get much more than he knows it is worth so I can see us being here forever. How can I make him see that he is being unrealialistic compared to what is up for sale locally?

Would he accept some sort of wording like 'offers in excess of £210000' then at least that gets you into the right search bracket?

[disclaimer; I have no idea of the legal status of such descriptions]

Well I cant answer that one , but I think you are right for sure. Bad neighbors can make you unhappy been there worn the T shirt

Yes bad neighbours. We have been here 12 years.....they 5 months.
just want to be out of here. I would be happy to accept offers iro £210,000 but DH wants more, so am stuck.
I do know though that, if this house has not sold by next summer I will have no choice but to leave with DCs and go into a rental property if necessary. There is no way I am spending another school hols here.

Given that even a completely uncomplicated move IMO takes 5 months from acceptance to completion, you haven't got all that much time. I would give him a really explicit deadline - either it sells at the current price by Christmas or you want the price at £210000 on January 1st.

I agree with you OP - if you really want to move and move quickly, you need to get on with it and not hold out for an unreasonable sale price. Knocking 5K off the original price is daft because it's not enough to make it a more attractive proposition imo.

The important thing is how much comparable houses in the area have actually sold for, not what they are for sale for.

You want to draw potential buyers in and I would think that a better strategy would be go for 'offers over 210,000' for example. The house will show up on Rightmove searches up to 210K - so to people for whom 230K is just too much - and if that is a fair price you can potentially get several potential buyers interested and achieve more than the 210K anyway. Especially if at that price bracket your house looks like a good buy compared to the competition. A lot of buyers don't even look at what they on paper can't afford, rather than thinking they might just get it for less.

This always puzzles me. Why is it in the agent's interest to price it so that it won't sell? Wouldn't it be better for them to undervalue it, if anything, and get it sold? I understand DH thinking he should hold out for more, if that's the advice he's getting from the "expert" but I would have thought EA would jump at the chance to have the price reduced and get a sale on the books.

Where does you house sit in terms of price and desirability against the two others that aren't selling in the road? Why does the agent (or DH) think yours will sell?

Why is the estate agent only accepting instructions from your DH? If you jointly own the house then just contact the agent yourself. What makes your DH think the house is worth so much more? Does he not want to move?

Well when the house was valued by 3EAs the prices ranged from £210 -£250000 so DH picked in the middle
We both want to move but me much more urgently than him IYSWIM
Think he's more interested in getting top price whereas I just want to move ASAP before all the houses we like get sold.
Knocking £5000 off is not going to make any difference and the more times it gets reduced the worse it looks in my opinion