Property will only sell when it is priced correctly. Too many owners here are moaning that they haven't sold or don't get viewings etc etc... IT'S BECAUSE YOUR HOUSE IS OVERPRICED!!

Most estate agents don't help the situation by grossly overpricing (usually just to flatter the owner and get the property on their books!).

The property market is like any other market, the best value products sell first, the correctly priced products sell next and the overpriced products NEVER sell.

I am convinced after being on a house buying board that some people put more effort in to buying a ipod than they do a house...one guy has just found out about stamp duty after buying for 280k..priceless

I think most selllers know in their heart of hearts roughly what their property is worth so why they are only fooling themselves if they listen to the over-valued opinions of some agents. Sites like Rightmove mean that it takes about 5 minutes to get a good idea of a fair market price and it only takes another 10 minutes to work out which agents are in the real world and which are off with the fairies.

I think buyers are being too picky and expecting too much of a price reduction on properties. What you have to remember is that most ‘lived in’ properties are not perfect; the kitchen might not be to your taste, the bathroom may be dated, ‘in your view.’ But why should sellers reduce the price of their properties to allow a buyer to make it all brand new? If you want a brand new property to put your own stamp on, buy one!

We have a lovely home with nice garden, loads of off-road parking, garage etc... If a viewer expected to knock off the price of a new kitchen, bathroom and other accessories they want for the home, I would laugh them out the door. It doesn't work that way. The estate agent values your home; you might consider a price reduction or two if you are not selling. But I think the pickiness of buyers is forcing people to stay off the market. If you want more homes to choose from, start accepting that not everyone’s homes are bargain basement buys.

There are auctions for those who want to buy a shell to put their stamp on. There are repossessions for those who seek them. But when you look at someone’s home and think it isn't good enough, walk away, don't try to get it for peanuts, have some decency and see that sellers become buyers. Reducing people out the market is like pricing them out the market. Fewer buyers or sellers both create problems.

Both buyers and sellers need to get real.

I put my 2-bed South London flat on the market just over a year ago (July 2010), at the price the agent suggested (just under £300k). I had three agents value the property, and all came back with a similar figure. After an initial two viewings, I had none for around 3 months. We dropped the price by £10k, and still had none.

Finally, just prior to Christmas, I suggested to the agent that the Stamp Duty limit (£250k) was probably a barrier that most first-time buyers were wary of looking above, and that I could afford to drop the price drastically to that limit, having bought the place 14 years previously and having a decent amount of equity built up in it. Note that the agent didn't suggest this, but it was clearly what was required. The viewings then came in (1-2 per week), but it still took around 2 months to find a buyer, who offered close to the asking price. That offer came in March this year, and we completed in April/May.

The buyers who came round in that final period were VERY picky, over the fine details of a flat that was in amazing condition, with a new kitchen, new bathroom, share of Freehold, etc.

So my advice to sellers would be to think of a price you're willing to let it go for, and a period you'll slide it down to that price over. Then YOU tell the agent how much to drop it by, and when. And if, at your lowest acceptable price, it still doesn't sell, take it off the market and resign yourself to staying put for a few years. Also, be willing to move into rental after selling, as it removes the problem of a chain, which, in this climate, may make a sale nigh on impossible!

There is a huge disparity between what sellers are willing to accept and what buyers (particularly first-time) are offering. Both parties need to compromise.