40 viewers, no offers -our next step?

[shazfos]

Hello

I am a newbie - and frustrated seller.

Property has been up for sale for 10 months. Had over 40 viewers, 6 second viewers and a note of interest - but NO OFFERS!


*Is a newbuild property is excellent condition in a lovely area.

*I think price is competitive

*General consensus that downstairs too small (have a large single garage ) and not proportionate to upstairs.


Estate agent's advice is that should sit tight as 'someone will buy it'. But for personal reasons, this isn't a good option.

We cannot bring the price down any lower as we then can't afford to move. Besides we have had no offers at all or any comment that price is too high - so that doesn't seem sensible.

Estate agent think too risky to convert garage as wouldn't recoup money back.




SO, DO ANY HELPFUL ESTATE AGENTS OR EXPERTS HAVE ANY ADVICE ON WHAT WE CAN DO - change agent maybe??

Thank you! Shazfos (slowly going mad in Limboland)

[Moby Jones]

To be honest if you've had 40 views I don't think it's the agent at fault. Remember, a competitively priced property will sell whatever the market conditions. Just because no one has stated that your property is overpriced does not mean it is not. What does your current agent say about the price? Has anything sold nearby? Are you keeping a very close eye on what properties are actually selling for in your area (Ignore the asking prices)?

[Adam Long]

The problem with new build properties is that they are priced over comparable old properties in the area as you pay a premium when you buy them for having a new house.

As Moby said any house will sell if it is priced to what the market will pay so if you have had 40 viewings and no offers then it's probably over priced. As a general rule of thumb if a property is slightly over then people will normally make offers whereas if it's well over then they are generally too embarrassed to make the kind of offer that needs to be made unless they are an investor. People are generally too polite to say that it's well overpriced so they will make an excuse.

Without knowing the area and price it's hard to make a call but if you bought a new build between 2006-7 then the price will probably be at least 20% less than you paid for it.

Take a look at a website such at ourproperty to see sales prices for your area rather than asking prices from estate agents.

If you really cannot drop the price any more then you may need to look at doing something more creative such as a lease option or delayed completion if you cannot wait for the market to adjust to move.

If you need any more detailed pricing information such as a hometrack report or information about creative sales you can e-mail me via the website shown below as I presume that you cannot send a private message as a newbie to the site

[Simon Plumber]

Originally Posted by shazfos

Hello

I am a newbie - and frustrated seller.

Property has been up for sale for 10 months. Had over 40 viewers, 6 second viewers and a note of interest - but NO OFFERS!

Usually means it is priced to high and there are cheaper rivals.

Originally Posted by shazfos

*Is a newbuild property is excellent condition in a lovely area.

*I think price is competitive

*General consensus that downstairs too small (have a large single garage ) and not proportionate to upstairs.

It's not the fact you think it is competitive but what a potential buyer will think. Even if the buyer thinks it is competitive its a buyers market and they will want lower than competitive.

Often buyers prefer to avoid new builds as they cost more, smaller rooms, poor build quality etc.

Originally Posted by shazfos

Estate agent's advice is that should sit tight as 'someone will buy it'. But for personal reasons, this isn't a good option.

We cannot bring the price down any lower as we then can't afford to move. Besides we have had no offers at all or any comment that price is too high - so that doesn't seem sensible.

House prices are falling and set to continue to fall. With all the cut backs coming it is unlikely you will get your current price.

Remember as you do cut price the price of the property the property you want to buy will be cheaper. Your estate agent isn't a economist and is only offering wishful thinking rather than sound selling advice.

[Sevens]

Sell with bonus pack + car

[The Hooded Claw]

The properties too expensive and you should get another agent as this one clearly doesnt have the balls to tell you.

40 viewings and no offers, i'd be sick of the site of the house if i was your agent

Good Luck

THC

[Sevens]

Have you managed to sell it?

[New Homes Expert]

If the property is well-presented then change estate agents and drop the price and keep on dropping the price each month.
I had a house for sale that I had just built and after 18 months and six different agents I said drop the price £1000 a week until it sells.
After the price was reduced by £5,000 we had loads of interest and sold it fast.

If you have had 40 viewers and 6 second viewers then it is either the price or something else is putting buyers off.

A new agent may be able to point you in the right direction.