Hi, Everybody. I live at a few years old subdivison area of North Shore of Auckland. It is near very good public/private school, newly-built Westfield shopping mall and has 2 motorway nearby, 13kms from CBD. The area is a bit exclusive and quiet. The house can enjoy beautiful mountain/estuary/creek view like about 30 houses in the area. Street is wider and lot area at around 710sq m2. Much better than current new subdivision area on sale nearby at lots 500-550sq m2.
we put market last April at 949K(sold price range 840K-1.04million at that time). Though tender, we only got one offer at 750K with about 40-50 viewers (some are neighbours)in the 7-week open home. We did not accept the offer and change the agency after 3 months. The new agent list our house with other 2 houses a stroll away. In about 2 months, she sold other 2 at 916K and 878K each. There are very few viewers for our house. She thus cancel the open home as she may feel no point.
3 months ago, she called us saying the market is weak in the last few months due to high mortgage interest. So we reduce asking price to 895K. Still very fewer viewers. I have done some improvement to the garden in-between and appoint the third agent as joint sole listing with 2nd agent. The sign is taken off under suggesting of the 3rd agent to avoid "over-exposure". Still we just get 1 viewer from the 3rd agent who said it was due to holiday period.
I drive around and feel ours is quite reasonable. We just lack the viewers. I am thinking to do private sale by myself if agents could not work for us. At least, I could save the commission fee 22-28K or give it to prospective buyers to make the house more competitive in the current slow market.
Is what I will do make sense? Did anybody go through the similar situation?
There would be two reasons your house is not selling:
1. The agent is not doing his/her job
2. You are asking too much.Given that your agent has sold other properties in the area recently I would suggest that your house is overpriced. Why don't you call the agent and ask why your house was not getting enquiries?
Cheers
K
Try using Quotable value to find out the true cost of your property in relation to your property.
You could do the following to try to sell your hourse.
- Stage it- i.e. get your furniture and store it and get it staged
- Get an independant valuation done and use it as leverage for prospective buyers
- Put it on trade me
- Do some research into what houses similar to yours sell in the area and figure out if your price is too high
- Is our house built with Monolithic cladding?
Cheers,
Sean
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