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  • Buy-to-Let

    Struggling to sell a flat in Manchester

    Hello everyone,

    First time using something like this, so apologies if this isn't the right platform to appeal on, however i'm at a bit of a loss...

    We're selling our flat in Manchester, and want to get it to as wide an audience as possible. We've had some viewings, but no firm offers. We're comfortable the price is right, but...we've hit a bit of a brick wall...any suggestions how i can get more interest? 

    It's in a desirable location, but just wondered if there is a general hesitance in the market, specifically for overseas investors (eg Brexit)

    Thanks!

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    Hi Matthew and welcome to the tribe.

    The market has definitely gone somewhat into limbo due to Brexit uncertainty.  However, if you have had viewings, it suggests that there is an appetite for your flat.

    The best way to determine why your flat is not selling is to get feedback from the people who viewed it, and your estate agent should be doing this and reporting back to you.

    Generally speaking, it may be something like "the second bedroom is too small", or "the house smells damp" or "it needs new carpets".  Once you know what is putting people off, then you can remedy the situation.

    You could change the estate agent, refresh the marketing and pictures, and lower the price slightly to generate more interest.  The fact that you have not had any offers suggests that something is not right either the property has an issue and/or the price is too high compared to other comparable properties in the area.

    There is also a lot of new build in Manchester so your flat is competing with shiny new developments, and there may be over-saturation in this regards as well.

    If you cannot sell it, you could always rent it out until the market improves and many sellers are finding that they have to take this route due to the low volume of sales.

    I know a professional property buyer who will purchase your property for cash within 14 days, but he will only pay 85% of the market value.  You could ask him to appraise it for you as he is a whizz at valuations and see what he offers as you have no obligation to accept.  Let me know if you want his contact details.

    Hope that helps for starters?

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    i Vanessa - thank you for your reply.

    We've gone via PurpleBricks...so not really an estate agent - we kinda (naively) thought our flat would sell itself; good location and area, clean and well presented, and some really good features. We've had a lot of viewings, but only one offer which was well below the asking price.

    All the viewers though, have been first time buyers, or couples who have sold their property and are renting for time being, looking for the right place - we've had no "investors" as such, which surprised me as apparently Manchester is one of "the" places to be! 

    Maybe i am being a little overly negative, but the impression was we'd have offers coming in left, right and centre!

    If you want to pass me your contacts details, maybe i will send him a link to the property - although 85% of the asking price would be too much to go down, can't hurt getting a second opinion.

    Many thanks

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    I would definitely change your estate agent. I have heard a lot of negative things about Purple Bricks.  Property Tribes is partnered with Northwood and I am sure one of  their Manchester offices would be a much better agent for you and be far more pro-active as just sticking a property on the portals is not all its cracked up to be, as you have found.

    South Manchester (5.1 away)

    0161 516 6921

    43 - 45 Cross Street
    Sale
    Cheshire
    M33 7FT

    Visit the office >

    Oldham & East Manchester (8.0 away)

    +441615168181

    79-81 High Street
    Lees
    Oldham
    OL4 3BN

    Visit the office >

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    Hi Vanessa

    Interesting that purplebricks are seen in a bad light by the tribe, on the Wirral they are the best performing agent, and their portal etc. Is slick with direct feedback entered by the viewer and available to view etc.

    I was expecting more agents to close over the next 5 years as companys like purple bricks appear

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    Slowly working towards financial freedom

    Just to be clear, my personal view does not represent the "tribe" view. I am one individual of many and I do not represent the views of Property Tribes.  I represent the views of Vanessa Warwick. 

    ​My opinion on PB is anecdotal, having seen a number of unhappy clients discussing them on social media.  I have no personal experience of their service.

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    Sorry I misread the post, I thought it was saying there had been a lot of negative posting on property tribes

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    Slowly working towards financial freedom

    PB actually sold a flat identical to ours, in same complex, in August - it was on the market for 3 days! We've heard good things about them, and as stated, were undre impression that the place would sell itself, mainly due to its location...Anyway...fingers crossed our adjusted price will get some more traffic!

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     with direct feedback entered by the viewer and available to view etc.

    It is easy to get good feedback when you get the bad reviews removed:

    https://www.propertyindustryeye.com/allag...omplaints/

    I was expecting more agents to close over the next 5 years as companys like purple bricks appear

    Companies like PB are not doing well.

    https://www.propertyindustryeye.com/quest...s-warning/

    https://www.propertyindustryeye.com/purpl...ommission/

    https://www.propertyindustryeye.com/no-re...istration/

    https://www.propertyindustryeye.com/mista...ell-quirk/ (although emoov has been bought out and reopened)

    https://www.propertyindustryeye.com/eye-n...stainable/

    Once you have paid companies like PB, they don't have a huge incentive to carry out the extra work needed to sell the property. You want an agent on 'no sale no fee'.

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    Interesting reading, but I was referring to feedback from viewings to the seller directly rather than via the EA.

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    Slowly working towards financial freedom