Flat for sale - next steps?
Hello! Looking to see what other people’s plans are in similar situations..
We bought our 2 bed flat in a city centre in 2021, at a time when we were struggling to even get viewings on places as they were selling so quickly. Now we are looking to sell, and there’s so many flats on the market, it feels like we’re not making any progress… last year, flats in our building were selling for 260k in a couple of weeks but now they’re slow and reducing. I feel like this is probably due to lots of landlords selling up too, the war, buyers feeling nervous about leaseholds even though our lease is a good length and a low service charge compared to other buildings near us.
We first listed at the beginning of the year with an agent who sells a lot near us, but we were really unhappy with their service and lack of communication (they were booking in any Tom dick and Harry as add on viewings with our apt when they’d booked to see others, never checked if we were free for viewings or provided any useful feedback) but we did get an offer about 10% under asking. The EA at the time told us to reject it even when they moved the offer up by 5k, but I am really regretting this now as we have actually reduced to that price now anyway. I am trying not to beat myself up though cos this is my first time selling and I went off the advice I was paying for at the time..
We’ve had around 5 viewings since we went live again a month ago (but we did also feel like it would be interesting to see how many viewings we get when we’re not having randomers booked in), no offers yet. We are happy with our choice of agent and feel we’ve done everything ‘right’ (changed agent, better marketing, reduced price). Whats the next step? Do we pull and wait until next year, reduce the price again, or hold out and hope we get an offer soon?
Thanks very much in advance!