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Fresh start with new EA

(83 Posts)
mosaicwarts Tue 11-Jun-19 12:03:29

Hello everyone, thank you for all your support with my house sale.

I saw the new EA this morning, am going to have it marketed for 'offers over £400K', and have a summary of my survey available in my house for any very interested viewers. Two men do the viewings, they are coming to do a 'tour' with me to familarise themselves with its quirks before I go onto the market.

Feeling very optimistic, it was a lovely, positive meeting.


Greta8 Tue 11-Jun-19 12:48:05

Hi Mosaic, so glad that it went well this morning. The new estate agents sound very professional and I hope you get lots of viewings and a result before too long. Just one thing, I absolutely don't want to be negative here, but are you sure you want to go down the 'offers over' route than than saying a guide price? In this market it pays to be flexible. Obviously if £400k is a very competitive price for your property, then ignore this advice! Very good idea to have a summary of the survey available, it will save time for prospective buyers.

Missfoodlove Tue 11-Jun-19 13:31:00

When selling we have negotiated the agents fees on a sliding scale. For example 1.5% of the sale price if the property is sold within 6 weeks 1.25 for 6 to 12 weeks etc. The agents have always seemed happy to do this and it does mean they work a bit harder for their buck.
Good luck.

crazyH Tue 11-Jun-19 13:40:14

Good luck !

Nonnie Tue 11-Jun-19 13:48:25

I think Greta is probably right. You only know what it is worth when you get offers and if you have to drop the price later it looks bad. Unless you cannot move on if it sells at less than £400k I think you would be wise to just go with a guide price.

I like that idea missfood wish I had thought of that each time we sold.

mosaic do you feel able to do the viewings yourself? Research shows that people prefer talking to the owner rather than an agent. They think we are more trustworthy. Some years ago we had no offers until I started doing the viewings. I showed two people round and they both made offers. When house hunting I have never felt the person showing me round really knew anything about the house. In the case of one agent they simply had someone who opened the door and let us wander around on our own.

Floradora9 Tue 11-Jun-19 15:01:14

Last EA we used refused to let us even stay in the house while she let people see it . Much to my disgust if she phoned about anything she would only speak to my DH . How I wish I had stood up to her. She sold our house in a flash but for less than we had hoped for but it did go .

Nonnie Tue 11-Jun-19 15:18:48

Flora a hard lesson learned. I always got three agents round to quote and they knew they were in competition. If they didn't agree to my terms I didn't engage with them. It was a lesson I learned over time, not easy if you haven't done it before.

craftyone Tue 11-Jun-19 15:27:40

I avoided offers over and offers in the region of, I asked for my house to be sold at a definite price. Everyone makes offers below. The one in my old village at offers over is still for sale, it is offputting to viewers

I disliked it when the owner showed me around, was much better being objective with only the EA

mosaicwarts Wed 12-Jun-19 08:15:05

Thank you for all your comments, it's so nice of you to write.

I've woken up feeling deflated, full of cold, and the weather is absolutely dreadful. Rain plonks down the chimney in my bedroom so I'm up a lot earlier than I wanted to be!

We went to see the 'big screen' Romeo and Juliet ballet in the bailey of Alnwick Castle last night and left at the interval, it was so cold even with hats/scarves/blankets.

I'm going to ring the EA and discuss the pros and cons of the 'offers above' and 'guide price this morning.

She said that the house will be worth £600K fully renovated. It is such an usual house, and needs so much renovation, it is difficult to price.

I've still got the link with a few photos here - the new EA has already sent the contract.

I do feel so confused about it all, this cold doesn't seem to be shifting, I'm exhausted.

Franbern Wed 12-Jun-19 08:53:57

My house was first put on the market with OIE of £450,000. Not a single offer came in above that, but had several below it.
When it went back on the market (after purchaser lost her purchaser), it was just at that price. All the offers were below that - virtually the same as previously.
Think most would-be buyers just see the figure it is being advertised for (totally ignore any other wording - In Excess of, In the region of) and just make lower offers than that figure.
So, if the property shows £400,000 - then the offers will probably come in between £375,000 to £390,000.
You must decide the very lowest price you would consider, let the EA's know and stick to it.

Franbern Wed 12-Jun-19 09:01:11

WOW! That looks to be a great property. It looks wonderful in those photos. Such large rooms. I have no idea of property prices up in Northumberland, but for someone that must be a really good buy.
Do hope it goes well this time, and you can move back down South.
I preferred my EA's to do my viewings, which they did, whether I as at home or not. I was happy to do second viewings, when I did let people just wander around on their own and was there to answer questions.
Must say that when I am viewing a property, I much prefer being taken there by EA's. Always feel slightly uncomfortable if owner is there.

mosaicwarts Wed 12-Jun-19 09:06:36

Thank you Franbern, that is also my daughter's view, the £400K could attract lower offers even though it is the 'lowest' price I want to consider. If I market at this price I won't be able to increase it.

I've just emailed the EA and asked if I can discuss the two options of offers over/guide price again before I commit.

The builder who offered £60K below the £450K asking price is the only offer I've received. I discovered he is selling his house for £750K, lucky man!

I'm putting off taking my very patient sheltie to the beach, it's so grotty out there!

Niobe Wed 12-Jun-19 09:18:16

Mosaicwarts, that is a beautiful house! If I was looking for a house in your area I would be offering! I am sure the right buyer is out there.

mosaicwarts Wed 12-Jun-19 09:23:42

Thanks Franbern. Touch wood it's really safe here, to my knowledge no-one in the few houses near me have ever been burgled. I do lock my gates to stop any passing chancers stealing my dog, but never leave him in the garden unnattended. He's my little mate and I'd be lost without him.

The trains don't run all the time, and it's really private and quiet here with lots of wildlife. I'm not overlooked by anyone. I was really pleased to find a hedgehog on the platform the other night smile My neighbours in the attached porter's cottage are really quiet as they are both professionals, one of them is my solicitor. They bought at the same time as us, twenty years ago. The beach is only a ten minute drive away, as is the train station. The village with its castle and lovely river walks is a five minute drive. I'd not like to live in the village, so popular with visitors and day trippers from Newcastle/Gateshead, locals can't park.

I tended to mention my late husband too often when I did the viewings, and would prefer the EA to do them. One of the people doing the viewings is an acquaintance from the past and I know he is a very tidy man, I'll have to make an extra effort when he's doing the viewings! His wife joked once that she left some veg scattered on the worktop when she went to work, knowing that 'the mess' would irritate him .... when she returned he'd made a lovely stew!

Must get dressed and take my dog out, it's not getting any less rainy or light out there!

craftyone Wed 12-Jun-19 09:29:44

From what you said then 425 sounds about right, not 400 because as you said, increasing the price mid-stream would not be good. 425 with a potential drop to 400 through an offer would mean a happy buyer but even 405 would help you and buyer would still be happy. Psychology at play

craftyone Wed 12-Jun-19 09:30:47

offers over is like displaying all your cards at once, not good

loopyloo Wed 12-Jun-19 10:01:13

Beautiful house. Be funny if you sell it through Gransnet. Looks like a wonderful place for £425K. Must buy lottery tickets for tonight.

Nonnie Wed 12-Jun-19 11:22:48

It looks like a lot of beautiful house for the price but I don't know the area. Am I right in thinking the trains run right past the house? That will have a significant impact on not only the price but the number of people will to consider it. It doesn't look as if it needs a lot of work though.

Ask the agent who your target market is? You mentioned a builder, do you know what he intended to do with it?
Goof luck

mumofmadboys Wed 12-Jun-19 11:35:58

A lovely house mosaicwarts. Lots of character!

Loislovesstewie Wed 12-Jun-19 13:53:51

Your house is absolutely gorgeous! It's just as well we don't have that sort of money because my husband would be viewing and making an offer in about 2 minutes! Hope all goes well for you.

Loislovesstewie Wed 12-Jun-19 13:54:47

PS he would love the trains too.

Greta8 Wed 12-Jun-19 18:38:02

Mosaic, your house is absolutely stunning. My husband loves it, too. Northumberland is so beautiful, and a great holiday destination. I would have thought it would make a great business option, with your self contained annexe. I don't know the property prices in your area, but I still stand by my suggestion of using a guide price - maybe guide price £425k to give yourself leeway, if you need £400k. Sorry you're struggling Mosaic, but that's a seriously high quality property you've got there - be very proud of it. It's beautiful.

Greta8 Wed 12-Jun-19 18:47:19

Sorry Mosaic, just another thought. You are absolutely right about getting the estate agents to do the viewings. This will depersonalise the whole thing, I would also insist that the estate agents do not divulge that you are a lady on your own. This will reduce the possibility of any chancers thinking they can manipulate a much lower price than the market value. I think once your beautiful property goes on Rightmove you will get your buyer as it will be viewed by people from all over the country. We are in a rural area and sold to people from the Home Counties - that's often how it works. Chin up, Mosaic, you can do this - and do it well!!!!

petra Wed 12-Jun-19 18:58:15

It's got me written all over it. Only one problem 😢 Location.
Be no good for this southern softy.
Worth every penny your asking. Stick to your guns.

quizqueen Wed 12-Jun-19 19:20:21

£400,000!! If that house was near me (New Forest), it would be well over a million, nearer 2 probably. It's amazing, I love it.