How much contact from estate agent

[DobbinsVeil]

I'm selling my mum's flat. I'm in Essex, flat in Glasgow. As I was really pushed for time I found what seemed like a good estate agent, and it's been on the market since beginning of October. Apart from the first week it went on, I've heard nothing from them, unless I contact them first. I probably contact them every 2 weeks. I recently changed it to a fixed price at lower than the offers over had been as I really want it sold. (Was my suggestion to drop price).

Before you think me greedy, the money will be going to my DC, it's being responsible for a flat I can't easily check on that makes me keen for a quick sale.

What sort of contact is normal? Is there any point unless there's interest?

Hopeful bump for advice.
I emailed for an update, told been 2 viewings (too much work for one, other like it but thought overpriced and had other viewings booked) with 2 more booked for Tuesday. No feedback yet.

Does changing agent really make any difference?

I suppose they'll only contact you if there's something to say, but they often act on your instructions (I've very recent experience, currently in house move hell)

Perhaps say you'd like to be contacted every time somebody books a viewing, if it's not selling though, unfortunately it's usually the price.

Thanks. The problem with being so far away is I have no idea if it's actually having any viewings.

I'm not sure what to about the price tbh. It's Scotland so has a Homebuyer report and it's on fixed price for under that valuation.

Good luck with your move. Hope you're out of hell and into your new home soon.

I expect the estate agent I'm using to notify me of any viewings before they happen and to give me feedback within two days. Would it help to email them to say that's what you'd like. You are the paying customer, they're not doing you a favour

Thanks, the agent said they'd update me weekly when it went on the market, but that only happened the first week. In some ways I think unless there's an offer, what's the point. But the solicitor I'm using for my mum's estate stuff is v surprised it's had such little interest. The solicitor do also have an estate agent part of their business so I'm mindful he's keen for me to give it to them to market...

And I can't easily "test" the agent by getting someone to enquire due to the distance involved and not knowing anyone in the area.

Does the listing on Rightmove etc look good? Good photos, room dimensions, good blurb, etc? Have you looked at other similar properties in the area to see if they’ve sold? I’d maybe leave it for now and switch to a new agent in the new year.

Thanks, Listing is good, on lots of online sites. If anything the photos may be a bit too flattering as it does need some work, but it is a lovely tenement flat so that's fairly typical I've been told.

Flat a couple of doors along went on a couple of weeks after "mine" and was under offer within days. On for more but didn't need any work, beautifully presented.

I think seeing how things are in the new year is the way to go.

What’s the marketing price v the home report valuation?

Property is very quiet due to time of year though.

Marketing at fixed price £135,000, home report valuation is £140,000

Estate agents over value properties as a matter of course. The reasons are complicated and varied, but one reason is that they will attempt to control the market in certain areas by increasing the price by around 5-7%. Its a no lose bet for them as they just play the waiting game. If it sells, great, if it doesn't they blame the time of year, saturated market etc etc, then reduce the price to what it should have been in the first place.

To be fair to them (as much as I can as tbh I can't stand the industry) often the vendors will overvalue their property on the basis tgat it has a granite work surface in the kitchen, an electric garage door (whatever) which anyone who knows the first thing about property will tell you makes zero difference to a property's value. You can tart your house up all you like, unless it's things like central heating or double glazing it won't improve your property's value one bit, no matter how much that may upset you.

So estate agents always overvalue property, either to try and control the market, or to appease a delusional vendor.

If you go into an arrangement with an agent understanding this principal, it will make the sale of a house you "just want sold" much quicker.

The wording to use is "realistic sake price to get it off the market ASAP". Keep pushing the point to the aren't and they are far more likely to realistically value your property, resulting in more viewings, sooner. Often when properties are "realistically" valued they are purchased by property investors (of which I am one).

These agents are always playing a game. As soon as you know the rules you can control it yourself from the get go. Always remember it's your home, and you can value it at whatever price you see fit to get buyers through the door and get it shifted.

Also, remember how to tell when estate agents are lying.... Their lips move.

Just my 2p, take it or leave it. :)

Thanks.

To be fair, the valuation was done by a surveyor as that's how it's done in Scotland. The flat a couple of doors down was offers over £140k and under off in days. Much higher standard finish etc but I'd imagine it probably went a bit over 140k

I'm in a strange situation with the flat as the money is to go to my 4 DC. Eldest is 13, will stipulates inherit at 21, so a while before they can even have it. So it doesn't need to be sold urgently, I just want to be relieved of the responsibility of it.

My apologies, my advice refers to England. I know the situation in Scotland is entirely different (and far better from what I understand).

One example being (if I'm correct) you're legally bound once you've made an offer on a house on Scotland, whereas down here someone can make an offer and walk off at the 'enth hour. Absolute nightmare.

Also no laminate flooring above ground level...

We've got a lot to learn from those up north when it comes to some obvious regulations that are in everyone's best interests.

Anyway, good luck with the sale.

Is it possible to find out how much the flat near you actually sold for? If that was on for offers over £140k and yours was fixed at £135k then you’ll be reaching the same buyers. However if the other property has a much better finish people will think yours is poor value. Maybe better to lower your price and go back to offers over and hopefully you’ll be seen by a new set of buyers.

So estate agents always overvalue property, either to try and control the market, or to appease a delusional vendor

You're half right!

I think it's unlikely an EA would be able to control a market in the way you describe. EAs overvalue because the easiest way to gain an instruction is to appeal to the vendor's greed.

TwoBlueFish thank you. after reading your post I rang the agent that sold the other flat. They've sold 2 on the street in the last month, for over home valuation report which was £150k for those flats. One went for 170k! They are a bit bigger than my mum's and I'd nowhere near expect anything like that .

Had a good long chat with the agent and I think I may swap to them.

I think it's unlikely an EA would be able to control a market in the way you describe.

It's very unlikely, but it doesn't seem to stop them trying, certainly in areas where one estate agent has the vast majority of the properties on their books, with little or no competition.

Anyway, that's conjecture. The bottom line is they more often than not overvalue a property knowing full well the likelyhood is they'll reduce the price at some point. Very annoying for all involved. I ask my agent only to call me if a vendor is being realistic about a property's value, which means he has to be realistic also.

Investors (even relatively small ones like myself) could spend all day every day looking at houses with completely unrealistic sale prices.

Most estate agents will use a computer system with an online diary, and that is able to send you an email when each viewing is booked. So they can't lie about viewings if you get a weekly update and you can chase them for feedback if you haven't heard from them afterwards. good luck

I rang to tell the current estate agents that I had decided to swap to someone else. The boss wasn't there, she said she'd get him to call me this morning. Nothing so far. I had a chat to one of the other people. She said that they were going to contact me "later this week with a few suggestions". I just don't find the way they conduct themselves to be particularly inspiring.

If you can get a video door bell installed you'll be able to check if the viewings are genuine. They cost about £100 and have motion sensors so you'll be able to see who is coming and going via an app on your phone.

But realistically the only way to get a quick sale is to take a hit on the price.

Make sure you have cleared the noticed period with the first agent before you move it or things can get complicated.

I'd love to install something that but the logistics are such I can't organise it.

I am willing to lower the price further and it was me that suggested it the first time. The fact the agent have a few suggestions but don't seem bothered about actually communicating them to me, is what I am finding frustrating.

I've asked them to clarify notice period and any expenses I am liable for with the marketing to date. Also to find out what they will do about the keys. It would be easier if the new agent can collect rather than sending from Glasgow to Essex for me to send back to Glasgow, but I'll have to see what they say.

When selling our flat, which we lived in so had an idea of interest/viewings anyway, the estate agent still sent fortnightly reports showing views on Rightmove/Zoopla, a list of people they'd contacted, the response and viewing feedback. This was done as standard (assume a report run from their system and automatically emailed out), we didn't request anything.

With regard to the flat, please don't estimate how much work costs. We are buying a house which is a wreck and the owners, also probate, just had no idea of the cost of work involved. I understand it's difficult in the situation where it was a parents house etc but we had to supply a ton of quotes to get a price agreed and there is a house few doors down in much better condition which we could use to negotiate but for ages the owners just wouldn't believe we were looking upwards of £4,000 for emergency structural work alone plus about £50,000 of other repairs until we got a tradesmans quote and survey to back us up.

No such service offered re viewings here with this agent, potential new agent does. They are more expensive though!

I hear what you're saying on the condition of the property. This is Scotland so the valuation has been done by a surveryor and these reports are accepted by mortgage companies. Surveryor did find evidence of damp, I paid for a damp survey which is included in the bundle of information on the property. The agent told me not to bother with the damp work - I was willing to pay. Potential new agent disagrees with this.

The rest of it is pretty cosmetic - painting to taste, new carpets in bedrooms etc. Kitchen a little dated but not disgusting by any means. My mum had also had new windows put in (Huge bay window things) and a new bathroom installed within the last 2 years. DH is a gas engineer so he gave the heating a once over, fixed a rad and sorted out the fire in the living room. It's also a flat so there is an equivalent to a management company (Factors they are called there) so the building itself is inspected and maintained regularly.

Sorry reading that back I sound really weirdly defensive! My mum had always wanted to live in one of the Victorian tenement converted flats which she got to do when she retired and moved back. She took a lot of pride in it.