Active discussions

Meet the Other Phone. Only the apps you allow.

Meet the Other Phone.
Only the apps you allow.

Buy now

Please or to access all these features

Talk
Property/DIY

Join our Property forum for renovation, DIY, and house selling advice.

Original poster

Does this Rightmove report suggest we are priced ok or too high?

12 replies

Itsrainingten · 09/07/2024 07:04

Do you think based on this we should reduce or stay as we are? This is the last 2 weeks. We've been on for about 6. Had about 15 or so viewings

Does this Rightmove report suggest we are priced ok or too high?
OP posts:
Twiglets1 · 09/07/2024 07:20

I’m not sure … think I would go more on how long you’ve been on the market, whether there are still plenty of people booking viewings, what the feedback has been from the viewings you have had so far, what your EA is suggesting etc.

Original poster
Itsrainingten · 09/07/2024 08:26

We've only had 1 viewing in the past week. I don't necessarily trust the EA because they obviously just want it to sell and 25k reduction in price is only a £250 reduction in commission so I feel like I'd rather listen to independent opinions really. Feedback has been mostly good. A couple of issues came up. 1 we dealt with, the other is the garden is overlooked and there's obviously nothing we can really do about that (it actually doesn't feel overlooked when you're in it but appears to be when you look out the upstairs window) we've asked the EA to take people outside BEFORE they go upstairs in future to avoid that first impression.
I was set to reduce because we'd found somewhere and didnt want to lose it but it's just gone under offer so I'm in less of a rush now. We need to be in a new place by September 2025 for schools so not a massive rush. I'm aware though that the longer it sits unsold the less appealing it looks. Just not really sure what to do...

OP posts:
Twiglets1 · 09/07/2024 08:32

15 viewings is quite a lot not to get any offers or second viewings.

Assuming this is the case, my guess would be that buyers consider it too expensive for what it offers. But only you know how it compares to other houses on the market in your local area.

Original poster
Itsrainingten · 09/07/2024 08:51

We did have 2 lots of second viewings and 1 offer (close to asking price) but he changed his mind a couple of days later because he saw something else he liked more

OP posts:
Twiglets1 · 09/07/2024 10:02

Itsrainingten · 09/07/2024 08:51

We did have 2 lots of second viewings and 1 offer (close to asking price) but he changed his mind a couple of days later because he saw something else he liked more

Ooh in that case I wouldn’t be in a hurry to reduce the price, maybe give it a few more weeks?

IPartridge · 09/07/2024 10:13

In the area I'm looking in, houses that have been on the market for over a month seem to either reduce the price (and then sell quite quickly) or they just hang around for months not selling.

We are just about to enter a really quiet period, over the summer holidays. My recommendation would be to either reduce the price this week or take it off the market and try again in September. It doesn't look good when a house has been on the market for a long time.

TheRoseTurtle · 09/07/2024 15:08

The grey line is the average for similar properties (smoother because it's a bigger sample size than n1) and I'd say from looking at it that you've been doing a bit better than average. Whether that continues is anybody's guess. There's often a bit of a boost in activity in September, and everyone seems to be hoping for interest rate changes in August, so you could try dropping the price a bit a week or so into August and see if you can ride that wave, or you could leave it until early next year although obviously that's more risky if you need to be in new schools for Sept 2025.

Toomuch44 · 09/07/2024 16:27

What did other agents value the property at? Also, are there any similar properties in your area? If so, do they provide the same but at a lower price?

Original poster
Itsrainingten · 09/07/2024 17:35

Toomuch44 · 09/07/2024 16:27

What did other agents value the property at? Also, are there any similar properties in your area? If so, do they provide the same but at a lower price?

We had 4 valuations. 2 at the price we put it on at. 1 higher and 1 lower. There are similar properties in the road down from mine which is much busier that are actually on for more. But they haven't sold so I don't think that really tells you much pricing wise.
I had a different agent round today to get his opinion and he valued it at exactly what we've got it on at and was shocked at the Rightmove report! He said he'd have expected to see it tracking just above the similar properties at the price it's on at!
It's a mystery. I think maybe changing agents might help a bit. We have it on with one on the next town along rather than our actual town. I know most people just stick their search area in Rightmove anyway but I wonder if having an agent who is going to find it easier to cross-sell because they're local might push more people into looking it up?

OP posts:
PauliesWalnuts · 09/07/2024 17:50

Please could I ask where you got the Right Move report from? Mine’s been on a month with no viewings and I’m getting naff all back from the agent re feedback so far.

Original poster
Itsrainingten · 09/07/2024 17:52

PauliesWalnuts · 09/07/2024 17:50

Please could I ask where you got the Right Move report from? Mine’s been on a month with no viewings and I’m getting naff all back from the agent re feedback so far.

Sure - your estate agent should be able to send that over to you if you ask. Think it takes them a few seconds to login and download it so I'm sure they won't mind

OP posts:
Twiglets1 · 10/07/2024 06:53

But a month with no viewings @PauliesWalnuts that gives you more feedback than a report.

New posts on this thread. Refresh page