Selling a property

[Fusion]

The folks have had their place up for sale for about a month now with Location, and have had three viewings and some positive feedback. It's advertised on Rightmove. Is there anywhere else it could be advertised, bearing in mind that they can't put it up with another estate agent for another ten weeks due to the contract with Location. It seems a bit of a minefield, there are other websites out there but they seem somewhat unscrupulous.

I'd be grateful to hear experiences of anyone that's sold a property, what works best etc.

Ta

 

[Admiral Huddy]

Selling property is a bit hit and miss at the moment. Buyers are expecting a fall in the market and sellers aren't. Some houses near me have been up for sale for over a year including a batch of 6 new home.

good luck to them

 

[Greenlizard0]

I'm not in Notts but here in Liverpool it's ridiculous. There's a massive student housing surplus and a general property surplus yet people keep building property. People can't sell it at all. I saw a very luxiourious (sp...sorry :/) flat that's easily worth £.25m but the guy couldn't even sell it for £160k. The market is well weird atm.

 

[Rotty]

I have found Location to be a very poor estate agent , as I see it they built their business up very quickly on the back of a strategy of making people feel good by over valuing property and getting lots of property on their books ( not sure how valuations compared for you but in my experience they always overvalue ) , once a lot of property is on the books then a few will sell but a lot later end up getting reduced in price

The property market around here varies a lot , lower end stuff ( sub £120k ) is shifting fairly quickly and prices are rising,however property over £200k is struggling due to the market being saturated by new builds

If you haven't sold in the 10 weeks then maybe try a non exclusive deal with 2 or more agents , the commision will be higher but only the one who supplies the buyer gets paid so they have to work harder

 

[Fusion]

Cheers Rotty, makes a lot of sense. Sounds like a logical move to make if the house hasn't been shifted in the next few months.

 

[Sequoia]

........ People can't sell it at all. I saw a very luxiourious (sp...sorry :/) flat that's easily worth £.25m but the guy couldn't even sell it for £160k. The market is well weird atm.

Beg to differ. Property is "worth" what someone will pay for it. What lots of people, especially owners (and sellers) can't get their minds around is that just because you could sell it for £x last month or last year it doesn't mean you still can. If a property has been on the market for any length of time, and hasn't sold, it's either being marketed/presented VERY badly indeed, or it isn't worth what's being asked for it.


Byuyers have things all their own way for years, with large, regular rises now being taken for granted. Such an assumption, by anyone that makes it (and I'm not pointing at you with that remark) is naive in the extreme. Property prices can and do go down as well as up. (I know - I made a fortune from it last time. ) Sellers need to understand that, and not assume that trends will continue (or even maintain status quo), and that property ownership is not a licence to print money.

I've said before (recently), I'm personally not expecting a crash ..... but nor would I rule it out. If, in 2 years time, property prices are half what they are now, I would be surprised, but I certainly wouldn't be shocked. And if they do halve in two years, it wouldn't surprise me at all to find that in five years, they still aren't back where they are now. Anyone buying property now with those 'automatic' rises in mind, or relying on capital value to provide their pension or early retiremet fund needs to be aware that they are taking a risk. Maybe not a huge one, but a risk nonetheless.

 

[wozzizname]

I thought just about everyone uses Rightmove now to search for property, if you're on there and the price is right buyers should find you.