realistic selling price

villa 1

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Hi Folks. I put my house on the market (3 bed semi/end of terrace) about 1 yr ago for 325000. I've had viewings since and even though I have gradually reduced the price to 267000 there still doesn't seem to be any interest. My autioneer tells me that things are very slow at the moment but when I rang another auctioneer for impartial advice he told me that the current asking price should encourage interest.
Should I drop the price even further?
Should I change auctioneers?
I'm in the process of looking to buy another house and would prefer to sell my existing house to finance the new house.
Any views?
 
what prices are the nearest most comparable houses going for?
i know because i'm looking at the moment that some EAs have put big red price reduced splashes on the main photo in the ad that has certainly attracted my interest - see here
[broken link removed]
 
I had a very similar issue to you, and it took four years and six auctioneers to sell my (admittedly much more specialised) house.

Your place sounds quite regular, and this makes it easy to put a value on it. Don't rely on auctioneers to do this. Go to the usual house sale websites and search for other similar houses in your area. Note the prices and average these. Unless there's something very special or attractive about it, your house won't sell for more than the average.

Now that you have an idea what the going rate is, your auctioneer's ability to interest real potential buyers in your house is the most important indicator of their ability.

It's great that you have had viewings, but what you don't want is lots of viewings by people who aren't really interested and then you get no offers. I had that and was sick to death of keeping my house in show-ready condition, at the beck&call of the auctioneer, with no tangible results.

Go in and thump the table hard with the auctioneer to make sure they know you are interested in selling - make them do a bit of work for their money. Give them a chance to show you how motivated they are and if they don't demonstrate that to you, change them or invite a second auctioneer to list your place and play them off against eachother.

No one knows for sure what way it'll go but you may have to drop your price again - the average asking price in your area for your type of house might still be too high for the market.

If you really need to sell in order to finance the new house, dropping the price probably will help a quick sale. It won't help maximise the amount you take from your existing house, but then not many are achieving that in the current market.

Good luck with it
 
Just to clarify

We don't allow speculation about house prices. I don't see anything wrong with the comments in this thread

The following is not allowed

"House prices are set for a recovery..."
"you would be mad to buy a house with the way prices are going..."

The following is allowed:
"House prices have fallen by ..."
"If house prices fall further..."
"If house prices start going up again..."
 
Can you let two estate agents list your house? What if one gets a sale will the other look for some comission as well?
 
I'd like to find that out as well. Does the selling estate agent get the 1/1.5 % and the other get paid original expenses? Anybody any ideas?
 
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