Although to date we've had no viewings, we know from online marketing reports that a lot of people are searching for properties just like ours. Yet our agent is now suggesting that we drop our asking price!
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Despite the continuing doom and gloom in the press, the fact is that sales are definitely happening - and in fact, the range of mortgage products on offer is actually on the increase again, which is another positive sign.
Against this background, I can understand why you might be puzzled at your agent’s suggestion on price – particularly since, as you say, the online data shows that there are plenty of people out there looking for similar properties. Besides, if you haven’t had any viewings yet – and the agent therefore has no buyer feedback on which to base his opinion – how can he be so certain that your asking price is too high?
I think the answer probably lies in those selfsame marketing reports you mention. It may well be that there are a large number of people going online and indicating their general interest in properties like yours. Even allowing for the fact that some online searches are merely done out of curiosity (or boredom!), that still leaves a significant number of people who are seriously looking and should therefore theoretically be interested in viewing your home. Some of them may even be clicking through to look at your property details. But clearly, what they are not doing is then contacting your agent to arrange a viewing!
Now, there are a number of reasons why this can happen. It may be, for example, that the photos are now out of date (at this time of year, pictures of gardens in full bloom are a dead giveaway that a property has been on the market for a long time!)
Ultimately, however, there is only one real reason why a property doesn’t attract viewings, and that’s because the asking price is too high. The bald truth is that any property in any condition will sell, if the price is right – whatever the prevailing market conditions. So, if you’re serious about selling, I’m afraid you may well have to bite the bullet and lower your asking price after all.