Change agent?

[Stumpy54321]

Been on market 10 weeks. Had 6 viewings, no offers. Only had feedback from 2 viewers one decided to move to a different area and one wanted a bigger kitchen. Recently neighbouring property with one less bedroom and reception room sold for £25k less than we have ours up for sale. Had a call from an agency saying we should have had an offer by now and asked if we had considered going multi agency. In a 20 week contract with current agent so not sure if we could? Also if all properties are online Rightmove, on the market etc what makes one agent better than the other?

A 20-week contract is very long. You should have negotiated that down to 8 weeks tops. The EA doesn't have much incentive to push your property hard as you are locked in for months. Also, most viewings happen in the first few weeks and after that it really slows down. So you are a bit stuck right now but in some ways it's not so terrible as it's a quiet time of year. Another 10 weeks will take you to the start of the spring so I would give notice now (or probably on 2nd Jan) with a view to relisting with a new agent in the spring. Giving notice now will signal your intent, even though you can't actually move agent for several more weeks. It might encourage them to get their finger out of their arse in January to try and find you a buyer. Multi-agency is a waste of time for the reasons you outline. Everyone looks on Rightmove so will have seen the listing. Ignore the approaches from other agents and try and select a new agent based on the positive experiences of people you trust.

Re the other house, is that the actual sold price or the price it was listed at? They may not have got that price for the property. Also, be realistic about the shortcomings of your property and the current listing price. There's lots of overvaluing going on right now as EAs try to talk up the market, and consequently, lots of down-valuing when the mortgage offers come around. For example, a house with fewer rooms can actually command more money because it needs less modernising and it costs so much to have work done these days.

I'm not sure it does unless the estate agents are doing the viewings rather than you doing them yourself (I prefer doing them myself). I know when I was looking for my current property, there were estate agents who were very restricted in the times they did accompanied viewings which was a pain as I was moving to a different area.

I think 99.9% of people do their searching on Rightmove and despite what estate agents say about having people on their 'list' ready to buy, I'm pretty sure those people on the list are on the list with all local estate agents (they'd be stupid not to be).

At the end of the day, it is down to how much you like and trust the people you are dealing with - and how efficient and knowledgeable you think they are. Obviously, fees come into it too and they can vary quite a bit.

Bear in mind the run up to Xmas isn't a great time to be marketing a house. Although people say otherwise, I always think after Xmas is a good time - the limitations of people's houses become clear to them during that period and they have time to reflect on a move.

Thank you for your reply. We only went with the agent as we used them before and we had a good experience and sold within a few weeks.. Honestly didn’t realised the length of contract at the time but we are half way though now and have been told Boxing Day is ‘the’ day for agents apparently so hopefully will have some viewers. Our house is modernised no work needs doing at all the neighbouring house did sell for £25k less than ours is up for and is in a similar condition.

When a neighbouring property sells, it changes the local market. This could work in your favour if yours is the only one left.
Personally, I would stick with one agent through to sale; it's stressful enough without adding extra complications such as dual agents.

20 week contract is very long IMO.

What sort of timescale were you hoping to sell on ?

What does your agent have to say about it and have they made any suggestions ?

What will these new agents actually do to make your house sell faster ? Have you asked them what their ideas are and do they sound plausible ?

I think the agency really should be pushing to get feedback from all viewers, so 2/6 isn't great, although it has to be appreciated that not everyone wants to give feedback.

Although it is normally the price, sometimes there are simple things you can do to make the house more attractive to people. Make it look more spacious, try to get as much light in as possible, get better photos etc.

Maybe you can post here for opinions. But feedback can be unfiltered (brutally honest). Otherwise maybe you have some other trusted people you can ask to review the listing ? But they may not want to tell you what you need to hear for fear of offence...

been told Boxing Day is ‘the’ day for agents apparently

I am absolutely convinced this is complete nonsense, pushed out by Rightmove's PR team each year.

In my view there is no evidence whatsoever for serious buyers being active on Boxing Day.

March/April/May is generally the most active time in the market.

I think what they claim is that this day is the most popular day for looking at houses on the website.

That of course may well not translate into actual viewings or sales, and may be more of a "see what's available and what the prices are ready for more serious action in the New Year" activity rather than a serious effort to find a place to view.

And I think that claim is nonsense too!

Whenever I see the same property with multiple agents I think there must be something wrong with it, either price or something with the property itself.

For example, I sold my flat in June after getting offers within a week. A neighbour has been trying to sell theirs since January with multiple agents for 25k more than mine and another flat that sold in September.

Thank you. Yeah we didn’t realise the length of the contract 🤦‍♀️. Agent says they are just not getting hold of the viewers to get feedback.
we sold out last house very quickly 9 weeks from being on market to moving although wasn’t expecting it to be that quick this time was expected more interest and an offer even if it was low.
Currently on for £395 agent is going to market as a guide price around £380-£390 for their Boxing Day sales pitch.

Bear in mind that if you decide to change, you need to give notice at 18 weeks, because the contract doesn’t simply end at 20 weeks.

We got sucked into the hype about agents having people on their books too. Thinking about it, I’m sure most people go straight to Rightmove, even if they’re unsure which precise area they want.

We had three agents before we sold ours, starting in February this year. The first didn’t provide any viewing at all, the second got us a buyer, but we were strung along for three months by a couple who lied about their circumstances. The third got us a buyer at the beginning of August and we moved mid November. It was sold STC within two days of listing. We also sold for more than we did the first time.

Our neighbours, whose house is the same as ours was, listed their house with the same agent as us at the beginning of September. Despite a price reduction, they’ve had very few viewings and no offers. It’s a weird market.

Yeah it’s 14days notice to end the contract so will be making a note of the date. Yes definitely a strange time. Neighbouring property sold within a couple weeks yet another house further down the road on and off market for over a year still not sold.

I can well believe more people look on Rightmove on Boxing day as most people have downtime and possibly feeling a bit bored/a bit fed up with current home.
However, for serious buyers I think boxing day is no more relevant to them than any other day.

I highly doubt it translates into sales in the vast majority of cases.

@Stumpy54321 I see no benefit to you in going multi agency as all potential buyers would see the house listed on Rightmove anyway. Going multi agency will probably cost you more money as the commission normally rises so not worth it.

Yeah that’s what I’m thinking. Will just leave it for the contract then change agents as don’t want to end up paying more than the already extortionate fees

That is a small reduction in price and probably won't be enough to attract new buyers.

If you're currently on at 395k you should be reducing down to the next Rightmove banding which would be 375k. I feel like a decent EA would have explained to you the importance of the Rightmove bandings and also the importance of reducing by a big enough amount to make sense.

20 week contract is ridiculous. I had 8 weeks on mine with the estate agent I am currently with - I did sell within two weeks (and the chain collapsed) but sold again within a couple of days.

Why is the EA ‘asking or advising’ if you have gone multi agency? It should be in their best interest to sell your property… they’ll get the commission!

Could it be other factors as to why your property is not selling? Is it over-priced for the area?

Have you got an influx of new builds in the area that perhaps people are buying?

Feel free to be brave and post a Rightmove link and we can better ‘advise’ ..

30 or so years ago, when properties were only advertised in estate agents windows and their newspaper adverts, multi agency made a lot of sense.

These days 99% of buyers will look on Rightmove when house hunting. So no matter if you use one estate agent or ten, it will be seen by exactly the same number of buyers

In fact multi agency is probably a bad idea now. Multiple Rightmove listings of the same property make you look desperate, or seem like there is something wrong with the house.

Try using https://area360.uk/ RM extension on Chrome to get a good view of your home versus the competition prior to negotiating any new contract. Include homes under offer and SSTC within around 0.25 miles of your post code.

I think you have a point, although it is not quite that bad.

A good agent can help with the description, adding in stuff that is likely to tempt in buyers. A good photographer will partially stage the house and ensure it is seen in its best light given the time available. I have been shown round by agents who have really sold houses well, pointing out good things and explaining how stuff can be fixed easily (if it can). I have been shown round also by overbearing ones who won't leave you alone, and school leaver types who add nothing to the sale other than opening the door and surfing the net on their smartphone. There is also the after offer service in moving the whole process along, ensuring you get the sale and they make their commission.

So I think an agent can make a difference, although the difference is probably more limited at the offer stage for the reasons you suggest, everyone is on Rightmove.

I think the idea that agents have some sort of pool of buyers that only they have access to and when you take them on they will become available to buy your house is a load of rubbish, for two reasons. Firstly, all buyers are looking at Rightmove. Second if they do have some people who are somehow tied in with them they are likely to be investors who will only pay bottom dollar on a particular house anyway.

Still I agree with the general points that most houses are on Rightmove, that houses are in short supply and there is a vast pool of people want them (but who aren't necessarily able to pay for them), and if something comes on at an attractive price it will find a buyer. Similarly if something comes on significantly overpriced there is relatively little magic a different agent is going to be able to conjure up to increase viewings/offers and make it sell.

The market is different now and not as quick as before. I think it’s concerning you haven’t had more viewings. If you’re otherwise happy with the estates agent I wouldn’t move yet. At that price point I’m guessing anyone that’s buying has a place to sell so you’re waiting for them to be in a position to offer (and view).

Thank you. We had one cash buyer but the rest had actually sold but it’s a 5 bedroom family home so very unlikely to be for a first time buyer.
we will stay with them until the end of the contract then change because as I thought and as most of said that multi agency would be a waste as people look on Rightmove anyway. Will also look to reduce price

Price might not be a problem if the estate agent did there job in pricing it right the first time. Might just take a little longer.

Definitely agree with not going multi agency as both might get commission even if the other didn’t secure the sale. Therefore paying out more than you need.

That’s not how it works… they wouldn’t both get commission. But the commission rate normally increases when a property goes multi agency so the EA who sells it gets a higher commission.

Thank you. Yeah makes you wonder why they suggest a price when houses end up being reduced but I guess it’s to test the market.