If house reduced twice would it put you off?

[Housenotselling]

My house has been up for sale since Mid Oct. We have only had 3 viewings in that time. We reduced it after 3 weeks as we had had no viewings and since had 3 but no offers, good feedback. I'm confident nothing wrong with the listing (previously shared on here and got decent feedback) agent has recommended we reduce again (we put it up 15k more than this agent said as 2 other agents quoted more) I preferred the one with the lowest valuation but he agreed to try it at the higher rate as we have a high spec new bathroom etc. Now I think we should have gone with his valuation but we didnt so that's it.

Anyway my question is will it look bad if we reduce it again, would it put you off?

It wouldn’t put me off in this climate. I expect and I see quite a lot of overpriced houses to continuously drop their prices.

My relatives been selling the house recently and estate agents said that unfortunately, although it looks like houses are still expensive on Rightmove, sellers are not getting those prices.

I'd assume that it was priced too high to start with, but wouldn't rule it out if the reduced price was more in line with similar properties in the area.

I think there is a bit of an "it depends" about it.
What the market is like where you live....how much is available in that price band....how desperate I was to buy and how much I was "just having a look"....etc

It would give me a little 'caution', and I would presume that, if vendors had already reduced twice then they would be unwilling to negotiate from a lower offer I put in.
All that said, ultimately I would look at the house, and , if it ticked enough of my boxes and now seemed to be at a price I would pay, I wouldn't rule it out at all.

Plus, people who set their phones to ping when a house is marketed in their price band might now see it where they wouldn't before.

@Smallgoon

It wouldn't put me off at all, if anything, it would excite me if it were a property I really liked. When I was looking, I would save properties that were £50k+ over budget in the hope that they may drop in price.

Same. I have properties saved and have seen them sell after 50k+ price drops, but that’s from say 550 to 500, so less than 10%.

My current house had been reduced 3 times, the owner was delusional about the value of the place. I snapped it up when it was reduced to a price I was willing to pay.

It definitely wouldn't put me off. I've saved loads of properties just out of my price range on rightmove in the hope that they'll get reduced. As it happened we are buying one of those that went from £660k to £625k following two reductions!

I would assume motivated seller.

I would also be inclined to see if it went down more, though.

It usually just means the house was overpriced in the first place. One not a million miles from us was on the market for nearly 3 years because the owners insisted that it was worth the original price.

Some people can be extraordinarily stubborn, even when more than one EA tells them what they don’t want to hear.,

It wouldn’t put me off other than to make it think that it was possibly overpriced in the first place.

There are a couple of properties I’m potentially interested in but they are just too expensive for what they are. If they reduced the price I might well be interested.

I'd assume it was over priced to begin with, that the vendors had been greedy/unrealistic but having seen the error of their ways so quickly that they must want to sell quickly, so I'd expect to be able to knock them down further.

If you can afford to wait, I might just stick at the current price you've got – the market is likely to slow between now and Christmas and pick up again in the New Year - so it might be too early to reduce the price?