I want to sell my house quickly

Could your agent go back to all parties who have gone through your property and just ask them to submit their best offer for you to consider?

 

You've what? Really? I'm not surprised there's no success. You do realise that Air BnB is mainly holiday accommodation? Nobody is going to bring their furniture with them.

 

I asked about this and the agent said that clearance rates are lower and they don't believe this would help.

 

The smell of desperation will lure a low ball offer. If you want to throw value out the door in desperation you may be compounding your own problem. A quiet discussion with your agent may find a "motivated buyer" rather than a billboard that shouts "fast cash sale wanted". There are spruikers who will seek to exploit you who will offer 15% under market. Its lender of last resort land. . Delayed settlement for a loan of $600K will cost approx $1630 at 3.2% over 31 days. You may be chasing a $30K discount for a saving of $1630. Thats nuts. You need to stop pushing the price down.

Have you considered a loan deferal holiday while its on sale until sold ? Its will be cheaper than the rejectshop approach.

If you sell privately you may find you are still up for the agent comms. This is sounding more erratic.

 

But what is "market value" ?
Most would say it's the amount the market is prepared to pay....
So this is your issue, how did you estimate you started above market value ?
The fact that you don't seem to be getting viewings/inquiries would suggest that it is well above market value...

I have questions
1, how did you decide to go with this agent ?
2, how long has it been on the market ?
3, how long has it been vacant ?

 

Imho this would be the nail in the coffin. The market will call your bluff and It'll leave you looking a lot more desperate and vulnerable in the end.


If it were me I'd be:

1. Looking at close comparables sold to make sure my expectations are reasonable.

2. Suspend the listing until next year when the majority of the market is back. (This part of the year is the worst time to sell imo).

3. Making sure the agent is competent with a solid record for the area.

 

I think this is the most important part, although of course, everything else is relevant as well. I'm not really sure, but is sounds like the current agent isn't the most competent.

Where is this property?

 

Agree, a competent agent is key. Also having reasonable expectations as a seller. Some sellers are their own worst enemy.

 

I hope it's not in Melb, or it's just an excuse

OP is in Melb, so....

Sounds like the agent "was" confident, just not competent

This happens all the time, vendor gets a few agents in for opinions and of course usually go with the highest quoted sale price, then tbe conditioning starts....
You need the Gold plated advertising campaign as we just aren't getting enough people thru, there's an offer $60k lower than asking but I will try to work them up a bit, we will have to lower the price range to get more people in, there's just no competition (if there was I could get you more) the clearance rate has dropped......

All because the quoted estimated sale price was already $50-100k over market and the agent figured a rising market and enough time it might get close

 

I'll give you bank valuation minus 20% subject to building/pest inspection and vacant posession.

 

I'll see your 20% & raise you to 25%

 

Now that's a good deal, in the cirmcumstances.

 

A sharp circumcision to price would improve his circumstances and circumvent a drawn-out circumgyration.

 

Money burning a hole in your pockets
The waters aren't deep, you can see the shaddows getting closer
I will go the other way, subject to the interior color, -19% of bank valuation

 

This is a resurrection of an old thread. Can the OP give an update?

 

Same.

 

I think they are long gone. Last post was dated December 2021.

 

Probably feeling despondent about the offers made

 

This was the weirdest thread... I need to sell my house really quickly...but won't drop the price...and nobody wants my empty AirBnB...help guys!

 

the interesting thing is if the OP sold back then is better than trying to sell now!