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The Big Property forum :: View topic - Should I reduce the price?
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Should I reduce the price?
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Author:  polly [ Thu Aug 26, 2010 7:31 pm ]
Post subject:  Should I reduce the price?

I have had my three bedroom terrace on the market for 2 months now and although I've had a few viewings I haven't had any offers. My Estate Agent says I need to drop my price but i've seen other houses in the area sell for a similar price and I bought my house in 2006 and want to at least get what i paid for it.

Should i listen to my estate agent and drop the price or hold on for the right offer?

Author:  matt123 [ Thu Aug 26, 2010 8:05 pm ]
Post subject:  Re: Should I reduce the price?

Well its hard to say without knowing more about your specific situation. Did you get valuations form other Estate Agents and did they agree with your agent? How long ago was the property sold in your area and did it have features that made it more desireable? Was it the same size? The average time to sell a property is about 2 months but the market is slowing down from what i understand. It also depends how desperate you are to sell?

Author:  polly [ Sat Oct 30, 2010 4:36 pm ]
Post subject:  Re: Should I reduce the price?

I had three estate agents round to look and they all said roughly the same price - between £170000 and £175000 so I put it on for £172000. I bought it for £165000 four years ago, I looked on houseprices.co.uk and my neighbours sold their house in May this year for £175000 but they have a conservatory which my house doesn't. How much is a conservatoy worth? I think their kitchen was quite old though but the house is the same size.

I think I'm going to drop the price a bit now as I'm worried I might not sell at all and I've seen another place that I like nearer to my parents where I want to move.

Author:  Obike44 [ Tue Jan 04, 2011 9:57 am ]
Post subject:  Re: Should I reduce the price?

Yes you should listen to your real estate agent. I know that you've already tested the current price in the market. I think you must reduce the price a little bit so that you can get more bidders.

Author:  Adam_rock [ Wed Oct 12, 2011 6:05 pm ]
Post subject:  Re: Should I reduce the price?

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Author:  Skyblueh [ Fri Nov 04, 2011 9:50 am ]
Post subject:  Re: Should I reduce the price?

I know that you've already tested the current price in the market. I think you must reduce the price a little bit so that you can get more bidders.

Author:  tinktank [ Tue Dec 13, 2011 7:19 am ]
Post subject:  Re: Should I reduce the price?

yeah,drop it a little bit,low prices attract bidders.

Author:  whathouse [ Wed Jul 18, 2012 8:37 am ]
Post subject:  Re: Should I reduce the price?

Two months is not long to have a house on the market these days, especially if in the north of England. All depends how quickly and how desperate you are to sell.

Author:  austinwa [ Thu Aug 16, 2012 5:56 pm ]
Post subject:  Re: Should I reduce the price?

I think you should comprehend if you really need the money immediately or not. If not, you can wait until there's someone willing to pay the house on your price. If you're in hurry for the house to be sell out, I think you can lower the price a little bit.

Author:  liannajohnas [ Mon Nov 26, 2012 11:54 am ]
Post subject:  Re: Should I reduce the price?

Just like the replies posted above, I also think that it will be a good idea to drop your cost a little bit. May be 170000 will work. Try it for a specific period of time. Also improve the publicity as much as possible, so that more people can get aware of this.

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