Is our estate agent useless or is it the flat?

[Mizydoscape]

Flat has been on the market for 5 weeks now. We've had 2 viewings. That's it. We walked past the estate agent the other day and it's not in their window? We don't live in the town anymore and visit infrequently. Any advice on how to get more interest? We are tied on price as it's a shared equity flat and the valuation survey is the price it needs to sell close to but this was the top end of estate agents valuation.

We hear nothing from the agents if i don't call them. Are they being a bit crap? What questions can I ask them next time I call?

All new to us! Advert link below.

www.rightmove.co.uk/property-for-sale/property-72282246.html

[blue25]

It looks quite soulless and not at all like a home. That would only appeal to potential landlords.

Also agree about flats not selling well at the moment. People are looking for houses and gardens.

[Mizydoscape]

@SparklesGalore it's not shared ownership though, and surely as we are paying them enough money to sell the flat they should be at least making a token effort?

[SoosanCarter]

It’s not shared ownership though.
Try RTFT

[SparklesGalore]

[quote Mizydoscape]@SoosanCarter thank you for your feedback.

We are now having trouble getting anyone to contact with regards to changing the advert. I've been promised calls back which haven't happened and am getting the odd vague response to an email a week after it was sent so I really wouldn't recommend connells at all.[/quote]
Perhaps as the flat is shared ownership and thus so hard to sell, EAs in the last days of the post lockdown boom are focussing their energy on properties that might actually sell?

[Mizydoscape]

@SoosanCarter thank you for your feedback.

We are now having trouble getting anyone to contact with regards to changing the advert. I've been promised calls back which haven't happened and am getting the odd vague response to an email a week after it was sent so I really wouldn't recommend connells at all.

[SoosanCarter]

Last year, a relative bought a flat a stone’s throw from your flat, for her son to live in. She was specifically looking in that development . They seem quite popular. I haven’t seen it myself however.

I don’t think it’s overpriced, just marketed badly. It’s great that it has a garage. Needs stressing how close it is to Torre station and the town centre. Also lots of flats there have open plan kitchen/living which yours doesn’t.

I sold a flat in Torquay a couple of years ago, and got Connell’s along for a valuation. For some reason the guy really irritated me (but I’m old and have had my fill of cocky estate agents).

However, I went with Haart and they were brilliant, especially the manager Jenny. She phoned me after every viewing with feedback, and chased up those viewers who seemed interested. She was also very good at contacting solicitors, which really isn’t her job.

My relative and her son were delighted that he moved out. They would’ve killed each other in lockdown.

Good luck

[TazMac]

Well said @RedToothBrush

Sorry OP, sounds like you’re facing a perfect storm.

[RedToothBrush]

Sounds like you have 7 problems.

1. Top end of price range. These shared equity schemes / shared ownership schemes are notorious for over valuing a property (a higher valuation is better for their books) and then making it difficult for an owner to sell because there is less ability to be flexible on price. They have a reputation for 'trapping' owners.
   
2. That estate having a bad local reputation about the build quality according to another poster.
   
3. Covid meaning flats are less popular, generally.
   
4. The fire safety issues on flats meaning its currently very difficult to secure a mortgage on flats. A lot of mortgage lenders will put the details into the system and computer will simply say no, regardless of other details due to the age of the flat if you dont have the relevant certificate. The problem isnt widely known and theres little political will to highlight it atm.
   
5. First time buyers looking at that price range are amongst some of those most heavily hit by job losses. I would have thought Torquay which relies heavily on the hospitality sector will be particularly vulnerable atm.
   
6. It leasehold, which again is problematic and there are many people caught up in issues over it and reluctant to take on.
   
7. The property itself and the way its being marketed. The photos dont look inviting / sell a lifestyle. Its a ground floor flat which a lot of people are more concerned about security for. The blurb describing the property is flat and does bugger all to sell it. The pictures make it look small and theres no detail on the size of the floor space on the floor plan which always helps me compare the size of a property. Nor is there a total floor space of the property in the main description.
   
   I think its also telling its pitched solely at cash buyers looking to purchase it as a rental property - as it focuses on potential rental yield - rather than saying something like 'ideal for first time buyers' or 'great for access for limited mobility' for example.
   
   If your estate agent hasnt told you that your potential number of buyers is extremely limited and you have a lot of issues which hit just about all the current housing scandal issues (poor new build quality, leasehold, shared equity valuations and flat fire regulations) they are not doing you a good service. Especially will that piss poor description of the flat.
   
   Im afraid OP, you've got a bit of a turkey on your hands in terms of how easy this one is going to be able to sell and its come at exactly the wrong time too. I fear it will be on the market a while and you will have limited interest before you are able to eventually sell and you should be prepared for that.
   
   I dont know what to suggest. If it wasn't for the mortgage issue I'd suggest trying to sell the lifestyle to broaden the potential buyers to include more than investors, but thats only going to be limited to cash buyers downsizing rather than first time buyers. The risk is throwing money at the problem is may only have limited effect. Your plus points on this are accessibility and the patio for older buyers. People do want outdoor space and gardens are selling properties. You need a picture of the private patio. Ideally preferably with something like plant pots and garden furniture to stress its a private area but i appreciate this may have a cost which isnt ideal.

[FinnyStory]

Ground floor flats have always been tricky to sell. The block looks nice and, if I was looking for a flat, might appeal to me but I wouldn't want ground floor.

Before lockdown I was seriously considering downsizing to a nice easy maintenance flat now DC are on their way. Lockdown has shown me that I really don't want that. I expect others feel the same and that numerous people in flats would love to move out, as a result of their experience during lockdown, so the market for flats is going to be difficult for a while.

As always, it will sell at the right price, which may well be much reduced in the current market.

[FenellaVelour]

I wouldn't want a ground floor flat with doors from a bedroom to the patio, I wouldn't feel comfortable sleeping in a room like that and I'd want the doors in the lounge not the bedroom.

Yes this will definitely put off buyers. I once rented a flat with patio doors in the bedroom. I moved out soon after I was awoken by someone trying the handle...

[bottomdrawer]

It is the price. The market dictates.

[savingmysanity]

I think they're being a bit rubbish. We've just sold our flat, on the day the agent came to take pictures to put on rightmove they had someone come to look round who they'd actively called as they expressed interest in another 1 bed flat on their books. we accepted asking price offer the next day. Are they contacting people they know are looking or just hoping? They need to be proactive, as others have said flats are not selling well at the moment

[bottomdrawer]

If there are no viewings it is the price. Ha I g a window card won't make a difference if it is on Rightmove.

[TazMac]

@Mizydoscape

Lenders are covering their arses and refusing to lend against flats of 3 or more storeys that don’t have an EWS1. It’s a new thing but worth reading up on.

[Mizydoscape]

@eurochick we had the flat valued by a RICS surveyor. I would have expected them to bring that up if it was going to be an issue surely?

[wineandwhining]

Think its both. I worked as a real estate agent in Sydney so a very different market. Even low price point properties are very dressed for sale.

From a real estate perspective its hard to sell a house empty. Its hard for people to imagine themselves in an empty home. You want people to have a positive emotional response.

Conversely, its hard to imagine the same when its too cluttered.

[ADayAlwaysHasToEnd]

@donnadenise I'm currently house hunting not in this area but I totally agree with you I wouldn't even consider a property with patio doors in the bedroom, it makes me feel unsafe

[donnadenise]

I wouldn't want a ground floor flat with doors from a bedroom to the patio, I wouldn't feel comfortable sleeping in a room like that and I'd want the doors in the lounge not the bedroom.

[Mizydoscape]

@SuzieCarmichael no offence taken here 😂😂 loved the descriptions.

@sleepyhead thank you for that! This is what I've put together this afternoon

[SuzieCarmichael]

Just to add: yes I sound harsh but there are ways of sorting all of this, at least in a visual sense. But you do have to make some kind of effort with the place. It’s not the kind of market where you can afford to be lazy, particularly when it comes to flats.

[SuzieCarmichael]

Can’t comment on price or location as am not au fait with local market. Approaching your listing from the PoV of someone who might be looking for that kind of property:

Pic 1: random ugly block of flats, no indication which flat I’m supposed to be looking at

Pic 2: cheap looking kitchen, clearly unoccupied, clearly massively overlooked given view from window is lots of other ugly flats

Pic 3 (assuming potential buyer has got this far): empty room, ugly carpet, view of cars

Pic 4 (extremely dwindling number of viewers by now other than MN rubberneckers): perhaps same deeply uncharacterful room with lots of carpet

Pic 5-7: is this all the same room? I’m not sure. It looks the same. Maybe a bit less of a view of other people’s cars.

Pic 8: average bathroom

Pic 9: two garages which look ideal spots for getting mugged at night. What relation do they have to the apartment I’m looking at? Are they next door? Should I be concerned about security?

Pic 10: a garishly carpeted jail cell?

Pic 11: same cell different angle

Pic 12: has cellt a bit bigger?

Pic 13 (by now only a masochist or a seriously aspirational buyer in terms of their personal credit history is still looking): a sink with a closed door. So much whiteness. No signs of life. Has someone died here?

Pic 14: a cheap looking corner of a kitchen, still no signs of life. View from window is very ugly external window cladding - is that someone else’s apartment? Overlooked again. Thank god it’s over. Please don’t make me live here.

[SparklesGalore]

www.totallymoney.com/mortgages/shared-ownership/

[CherryValanc]

Without furniture I think there's just too many photos. Only so many picture of brown carpet and white walls are needed!!

It would be better if the floor plan was in the photos too. Give some idea of what room is which.

[Orangesandlemons82]

Estate agents do sound rubbish. Did you approve the Rightmove description? The summary and description are exactly the same. Leasehold details haven't been put on yet.

[sleepyhead]

If you really can't put in some furniture, you could even try adding some indicators to the floorplan.

Something like floorplanner.com/ lets you put in your room dimensions with windows/doors etc and then add furniture. Even just putting in a sofa and chairs to give a sense of size of the living room, and a double bed in each of the bedrooms would add some scale.