A lady called me today to ask my advice. She has been trying to sell her property for 18 months and is now on her THIRD estate agent.
‘What’s the problem?’, she said.
‘Price’, I replied instantly having been told that in a year and a half no price reduction had been made at all despite a total lack of interest in the house.
On doing some elementary research I soon discovered that the asking price that previous agents have recommended to her as ‘correct’ is actually11% higher than the figure that any nearby property has recently sold for.
No wonder people are mystified when they fail to sell. You rely on an estate agent to be informed and honest and some are rarely either.