My Estate Agent is trying to reduce my sale price
I think my property for sale in Urmston is worth more than the estate agent thought it was, they put it on the market 14 weeks ago at the price I wanted and it’s not sold. I instructed another agent as a joint agent 8 weeks ago and still no offers and only a few viewings. The feedback has been they thought it was too expensive.I think it’s just the estate agents trying to get the price down. What do you think?Sam
I think you are right. The agents are trying to get the price down becaue you ignored their initial advice and your house is unlikely to achieve the price that you desire. Remember, your agent sells houses and he knows what he is talking about. He can look at your house objectively without any emotional involvement to gauge the appropriate price at which to market your house. Remember, more than one agent has given you the same advice.
You should take on board what the agents have said. Reduce your price. After 3 months on the market your property is a stale instruction to the agent and if you are unwilling to reduce the price and the price is unrealistic then the agent probably won’t bother doing anything with it. If you were my client and were not taking my advice and after 3 months you were still unwilling to drop the price then I would have dis-instructed myself as you would be costing me money in advertising and marketing costs. The property market is a buyers market at the moment and if you are unrealistic in price then your property will remain unsold. Check with the landregistry on www.mouseprice.co.uk or www.nethouseprices.com and by putting your postcode in you can see what properties in your road sold for over the last 5 years, if yours is well over the highest then you are trying to push the price up on your street and this only works in a strong sellers market.