Should I change estate agent or is this just the market?

[AmbitiousHalibut]

Hi all,

I'd really appreciate some advice please. We put our 4 bed family home on the market in mid October. We knew that the run up to Christmas was likely to be quiet but equally a few agents mentioned that December 2017 had been unexpectedly busy and we decided to take the chance.

In choosing our agent, we had a few valuations and as they all suggested the same price and seemed broadly the same in terms of offering, we went with the nice guys who we actually bought the house from 9 years ago.

Our house is well maintained, walking distance to the train station with links to London etc, walking distance to the local common, Ofsted rated Good schools nearby, decent sized bedrooms, scope to extend etc etc. I know everyone is fond of their home but I genuinely can't see any huge issues with it. Sure, someone might not like our (fairly neutral decor) and the kitchen could do with an update, but it's not a project or disaster.

Anyway, since we went on the market we have had not a single viewing or enquiry. At the start of Jan, our agent came to see us and blamed Brexit (which I do get) but assured us that the market was picking up. A few weeks in, still nothing.

Last Thurs a friend suggested advertising on Zoopla for those looking to move out of London so I emailed our agents to ask if they thought this was a good idea, and if so if they could do it. I've heard nothing back.

In the meantime other agents are writing and calling and basically circling! Are my agents rubbish or are they victims of Brexit? Do you think any other agent could do better?

We wanted to move in time for secondary school applications this Oct so there is a slight time pressure.

Thanks and sorry this got so long!

Thanks everyone. DH has chased up our agents this morning to ask about Zoopla and for their views on the market at the moment and our price.

I'm amazed anyone wouldn't want their property to be advertised on Zoopla or Rightmove. I would imagine approx. 90%+ of people who are looking to buy are doing so using these 2 websites. Nobody goes into the estate agents any more.

It sounds positive that you are going to chase the agents but truthfully they should have put you on Zoopla without you pressuring them, its surely the most basic of requirements?

It's on right move, I don't think it needs to be on zoopla too. Many agents pick just one.

I always look at both Zoopla and Rightmove. Most agents I know use both to catch everyone rather than rely on one portal alone.

I have always found RM to be better than Zoopla and had searches set up there and on crappy On The Market to make sure I got alerts for everything relevant.

The number of people who look on Zoopla but don't check Rightmove is going to be ridiculously small.

As already mentioned, given the response has been so disappointing in my view it can only come down to price.

The market is tougher than it has been in recent years, but there is a market and people are buying. Get the price right and the buyers will come.

Source: Am estate agent (Surrey)

We had only 5 viewings from September to December. But the 5th one has bought. The market has tanked.

As luck would have it, our first viewing has been arranged today! They are coming on Sat so it'll be interesting to gauge their reaction. In the meantime our agents are getting signed up with Zoopla - I do wish they'd just told me that was the reason for the delay rather than just not replying!

Anyway, thank you everyone for the advice / reassurance / information. Fingers crossed for an amazingly jammy first viewing with an offer at full asking 😂

Are you sure your estate agent hasn't just drummed up a mate / strong armed a potential client to do a viewing just to keep you sweet? - sorry very cynical in my old age.

I agree with pp if you have no viewings for over 2 months it is the price. 4 properties close to me been on the market in the last year. The first 2 were priced about £10k below the market and sold in a week. The other 2 were priced £20k above the market and have not sold in a year. Even if you drop the price now I as a potential buyer will have seen your previous price and assume you wouldn't be realistic in a downward negotiation. Therefore you would need to price to sell to interest me.

I concur with your cynicism howabout... I have sold a few properties before and after calling the agent after hearing of no viewings for a while one has always just been arranged for the very next weekend... how very convenient.
Also I highly doubt they are in the process of signing up to Zoopla... again probably just keeping you sweet.. costs them a fortune to be on both rm and zoopla

I totally get the cynicism. The thought crossed my mind too! My instinct says the agents are nice blokes but not the most dynamic (we bought from them so have been on the receiving end of their charms) so if anything I'd be weirdly impressed at their chutzpah if they pulled it off! Y'know, right before firing them and going with another agent. Anyway, let's see what the weekend brings. I am prepared to have my optimism cruelly betrayed!

costs them a fortune to be on both rm and zoopla

Unlikely, Rightmove is the expensive one, Zoopla are keen to make up any ground they can (being a distant 2nd in the portal wars!)

RM is likely to be at least £1000 per month, Zoopla will probably offer £200 -£300 per month for a new customer.

Unfortunately for the OP, it's unlikely to make a great deal of difference. In my experience very, very few buyers will look at Zoopla and not check RM. For every 1 enquiry I receive from Zoopla I get at least 10 from RM.

With the risk of repetition, price is almost certainly the issue.

The right agent is everything. It took me 2y to sell a property. Changed agent 3x. The 3rd had it sold in weeks.

How many agents did you have value it?
Don't be dazzled by the agent who states the highest value. We had 2 agents value ours 2 weeks before Christmas. One valued it £15k higher than the other... I knew they were being ridiculous and just wanted us on their books.
We went with the agent who gave us the realistic valuation and put it on the market for 'offers over' . We had 8 viewings within 5 days and 2 cash offers for £8k over the 'offers over' price. I know that we wouldn't have even got the viewings if we'd gone with the higher valuation.
Like others have said... at the moment houses at the right price sell immediately, those at the wrong price just won't sell at all.
You have priced it expecting to negotiate lower... maybe try the 'offers over' tactics by putting on for what you want to achieve. You can still negotiate, you negotiate up.
Also, get someone you trust to give you brutal honest opinions on the photographs.. peoples first impressions will be those photos.. some easy 'room dressing ' tricks can make it look more appealing.

Just a few thoughts

Dropping the price by 2% makes it jump back to the top of the marketing listings for Rightmove and they also email out anyone registered for property alerts that yours meets

Make sure your picture don’t have Xmas decorations etc in them - try to remove anything seasonal

My experience is that estate agents don’t really do much anymore, they advertise it online, and let people come to them.... that’s why it’s so important that your advert is 100% accurate. Be critical and have another look at your advert, try to ask friends or family to do the same.... you might find a few new pictures are required.

Brexit looming is hitting higher value houses harder than ftb houses, it’s also hitting south England harder than the north etc.

As a few have said, if you’re staying the the area, you may find that dropping your price might not have that much of an impact as your onward purchase may be willing to negotiate too.

Good luck

Make sure that your Floorplan has measurements and an overall total too. So many don't.