Getting a valuation from a different EA while on the market

[RoxieLoxy]

We have been on the market for 3 weeks and had only 2 viewings. Our EA thinks the price is still OK and no need to reduce yet. DH wants us to ask a different agent for a valuation.

I get on well with our EA. Is it reasonable to ask a different one for a valuation? I wouldn't want it to get back to current EA and cause bad feeling but we feel we need to get a second opinion on price.

I know people switch EAs but we are not wanting to, yet. And are locked into a contract anyway.

There’s no reason why you shouldn’t, I suppose, but I’m not sure there would be much point. How many valuations did you have before you chose your current EA and how much did they vary?

Depending on where you’re based, it could be the market. My EA says that enquiries are down across the board. People are thinking (understandably) that, if they have a choice, this is not a great time to buy.

You need to be realistic and look at your house in relation to the current market dynamics. 2 viewings in 3 weeks is such a low number it is likely that your house is mispriced quite significantly unless it is a very unique property obviously.

An agent is a sales person before a local economist, it’s pretty clear what you want to hear just from a message on a public board, so be sure that whatever she/he will tell you has no ground to reality other than coincidentally.

How many valuations did you get before you listed the property?

do you know what comparable sold figures are for the past 3 months in your area? Critically, sold rather than asking price.

Thanks everyone. We had 3 valuations back in November last year and signed a contract with the agent but then didn't list until 3 weeks ago. So the valuation was from November 2022 but the EA felt it was still OK. All the valuations were about the same although we did go for the higher end of their suggested range.

We compare well to similar sized houses price-wise but not many go for this price in our village so I guess our market is already smaller and not many to compare to. We are on for £700k. Most properties here are smaller and so obviously lower priced.

We were on for offers over which we've now removed. Wondering if that may have put some people off?

They all use the same data, so they’re never wildly out with their estimates. Literally they look at what the last house on the street sold for and add a bit or take a bit off depending on the condition of the house. It’s very much an art not a science.

The market has changed a lot since last November. If you want to sell, I suggest you reconsider the price.

Leaving it on at a high price signals to buyers that you’re not serious about selling and that you are not open to offers; reducing it gives them the idea that you actually want to sell. Remember it’s not EBay: you don’t HAVE to accept any offer. But you’re not going to get any if buyers think it isn’t worth a try.