On Sat, 28 Aug 2004 03:24:19 +0100, Richard Faulkner
wrote:

In message , Mike Mitchell
writes
Well, the previous agent, although getting viewings, has not managed
to sell my property after almost three months (by the time the 2-week
notice period is up). Connells are doing a "Six-Week Challenge" offer,
where they try their best to sell a property within six weeks.

By the way, Connells suggested that I use their solicitor/conveyancer,
but the local solicitor, who has been recommended to me, is far
cheaper.

Let's see what happens.

MM

Mike,

Sounds like a done deal?

How many viewings have you had in the 3 month period?

23

What feedback did you get as to why individual viewers did not want to
buy?

Little to non-existent. Many viewers remain non-contactable, despite
messages being left for them. Others say they want a property with
"more character" (wouldn't we all?). Others say the area is not
suitable (so why not investigate the area first?) All viewers have
made favourable comments about the good presentational state of
property, the larger than average rooms, the off-road parking, and the
gardens, and no estate agent has suggested anything obvious that could
put people off.

I know the real reason. I know what the most obvious thing is that no
one wants to mention, like an old beloved granny prone to serial
farting. I know that the emperor isn't wearing any clothes. No one,
especially the yuppy sort coming out of Middlesex, wants to live on a
council estate! They don't say so in so many words, but you can tell
that they could never be seen dead in an ex-LA property. I might as
well paint a cross on the wall and stick up a sign saying "unclean".

But I bought an ex-council house; THIS one! It was all I could afford
at the time and I didn't (and still don't) give a toss whether it's on
a council estate or in a leafy suburb of Richmond or Harrogate. That's
the kind of person this property needs to be targeted at, and I don't
believe it has been happening. Hopefully, Connells, which seems to
specialise in the lower end of the market (I bought this very house
from Connells, in fact) have the downhome attitude that appeals to the
kind of buyer I need.

But I couldn't just sit around and wait for another 23 to come through
the door. I had to be proactive somehow, since in terms of price, any
viewer was free to make an offer. So my choice for being proactive was
to select a different agent. This is the third agent. If necessary, I
shall move to a fourth, fifth and sixth agent. I don't give a toss who
sells it. Also, Connells' commission for the six-week challenge is
1.75%, i.e. considerably higher than usual. I don't give a toss about
that either. If I can sell for around £200K, I'm not going to nit-pick
over 1,500 quid or so.

(Most wont give a truthful answer), but if you hear a similar
tangible thing 2 or 3 times, it can mean that there is something about
the house, rather than the agent.

It always amazes me when agents come up with campaigns like this -
Doesnt every agent try their best to sell all properties as quickly as
possible? The campaign name suggests that Connells usually dont try to
sell houses within 6 weeks g I have no doubt that the campaign will
attract lots of new properties for them to sell, just as the quiet time
of year is ending - very clever timing.

What do Connells offer if they dont sell your house within 6 weeks? Do
you have to sign a minimum agency period agreement?

It's up to me what happens after six weeks. At present I feel like
telling each agent, okay, you've got a week, then it's curtains. After
all, they always profess to have a large waiting list of applicants.


One agent near us offered to sell houses for free - however, when the
documentation turned up, it actually said that if the house sold within
6 weeks, there would be no fee, after that the usual fee would apply.
How motivated the agents were to sell within 6 weeks, I cant imagine.
Lots of people were enticed to invite them in for a valuation, and the
numbers game meant they got a lot of houses to sell. Inertia then meant
that most of these houses stayed with them after the 6 weeks.

What will probably happen is that Connells will sell your house, and you
will think they are wonderful.

That is the only thing I am interested in - a result.

However, you will never know if it was
because the market gets going in September after the holiday period,
when your previous agent may have found the same buyer, or if Connells
made an extra special effort.

Some say that the market is always dead in August, yet others say they
are still selling houses. How can you believe anything an estate agent
tells you? My proof is in the pudding, i.e. when one of them sells it!

Or Connells will not sell your house, and you may be attracted by
another inviting marketing campaign in a few months.

Fair enough.

With some houses, I found that they did the rounds of all the local
agents, and it was luck of the draw as to which agent sold them.

Again, fair enough. It's a dog-eat-dog world out here.

One thing you must be careful of is that if the market has stabilised
around you, or is beginning to fall slightly, you could be left
following a falling market. I am sure that this will begin to happen in
some parts of the country over the foreseeable future.

That doesn't matter in my case, since the properties in my preferred
target area (Lincolnshire, Norfolk) are becoming cheaper, too.

MM