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Offers over price on house

Home Report valued house at £150,000 and it came down to offers over £130,000, estate agent then suggested that we reduce it to offers over £120,000 to get folks in but still looking for £135,000. I feel it's misleading and dont know what to do now, as can't put it back up again. Worried.

Asked on Jun 14 2011, House Prices in Glasgow | Report content

Answers (4)

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  • Don't be worried. A number ignore what the report says. Your house is what someone will pay for it. If no one bit at offers over £130k - that implies its too much money (sorry to be honest to the point of being blunt). If you want to sell and you are with a half decent estate agent - take their advice, if you want to sell..

    Answered on Jun 15 2011, Report content
  • Good advice above. I think your estate agent is doing the right thing by getting people through the door, that is half the battle. If you are not getting viewers, 9 times out of 10 it will be down to price. Offers over £120,000 might get you what you want, you may have to meet half way with an offer and take £5,000 less. But get those viewers through the door and make sure your agent will negotiate well for you as he/she knows what price you want. I don't know what condition your property is in, but a lick of paint and new flooring can make all the difference to potential purchasers. Clean, bright and tidy/uncluttered is always a must when marketing property.

    Answered on Jun 15 2011, Report content
  • That is absolutely ridiculous, I have worked as an estate agent for near on 13 years and can tell you for a fact that you should be complaining. Firstly , the original estate agents valuation of 150k is obviously overvalued for your agents market. Secondly , no response to the second price drop indicates that that agent does not have a response at that price. By dropping it another 10000 on the asking price shows desperation , however it is also dangerous as 135-150 is a long way up to negotiate for most of the market, judging by the lack of response you have recieved. Consider getting another few agents out and asking them for advice on how they think you should move forward. My biggest concern is your lack of response, are you covered on as many of the main web sites as possible , are you advertising as well in relevant newspapers etc? Lastly if you can achieve the response from another agent or advertising source then you may still be able to achieve the result you initially required.135-150 But if finally you have exhausted all possibilities then try a fixed price 135k and failing a response to that reduce to o/o 120-125 and failing that , take it off the market and try renting till the market picks up.

    Answered on Sep 12 2011, Report content
  • Really, prob is to instruct another estate agent would mean that i would need to pay all the marketing fees etc. We are supposed to be having an open viewing this weekend but have not received the info we need yet.

    Answered on Sep 13 2011, Report content

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