Our 360 virtual tour
11 Castle road
- My marketing plan to achieve that price
- My fee structure
I am not providing you a valuation as you already did get an offer at £300,000 which is market value. We may expect a positive swing if the marketing and price strategies are right.
Minimum price: £295,000
Maximum price: £310,000
Marketing Plan = the right price + the right price strategy+ the best presentation + best promotion = better sale ( higher and faster)
The correct marketing implies the right price strategy. I will "over-market" any of our properties by providing the utmost exquisite marketing but I would strongly advise against over pricing as it causes damage to the final achievable price. I believe that a 3-5%- overpricing may result in a 5-8% negative swing to trigger a transaction. Most estate agents only sell after typical price reductions of around 5 to 7% often attracting lower offers. Any overpricing by 10% or more will greatly affect the ability to sell.
On the contrary a property correctly priced and even underpriced by 2% could trigger a positive swing of 3% or more in the first 4 weeks on the market. This was yet again verified in a recent case
This pricing philosophy allows my home sellers to achieve just over the original asking price, In CO13 or elsewhere, this is factually and transparently reported by getagent.co.uk
However all around Colchester I am the only estate agent actually delivering a final price just around the original asking price as you may check here
This is despite the fact my average property price is currently over £500,000 where it is more difficult to sell than the average property price of £350,000 around colchester
However the market has been buoyant and "overpricing" a little has delivered more results than before, people are coming from different areas and pick up the more attractive properties.
The price and valuation is one thing but the price strategy is planning on how to achieve the best possible outcome.
Once again most estate agents start "high", see "how it goes" and then push their vendors to drop the price several times to attract interest.
I always try to present different price strategies when possible for you to discuss and choose from but in your case it needs to be taken where it is left at £300,000. Should I be the sole agent I believe that the price strategy must be "dynamic", meaning that if buyers are not found within the first 3 weeks of marketing, the price must change! It does not always mean "price reduced" and you will see what I mean:
We launch with a price tag of "in excess of £300,000" for 3 weeks and if no "proceedable" offer is received, we actually move the price up to £310,000 for another two weeks before price reducing back to "in excess of £300,000". We can keep rotating every two weeks between the two prices. This has the effect of:
- Boosting exposure on price reductions
- Painting a picture that the price is between the 2
- Makes the listing less stagnant and less likely to attract a lower offer
A 2% price reduction boosts the exposure on Rightmove.
This strategy is more likely to attract competing offers from £300,000 with a maximum potential of achieving about £310,000.
I have a very high % of success as you may transparently check out on my performance page.
Presentation and promotion
As you would have noticed from my website and/or all the listings on Rightmove, I pride myself for delivering a "high-end" marketing to all the properties I sell:
- Twilight photography
- Lifestyle photography
- Unique 360 photography and virtual tour
- Proper floor plan
- lifestyle description
I spend a long time capturing the right pictures and process them, I strongly believe that the best possible presentation will only help to sell better. It is what I call " the slow-in, fast out" strategy or preparation to succeed.
In your case I would also add a pro videographer alongside my pro photographer.
Once everything is ready, I typically launch a listing between Tuesdays to Thursdays and between midnight and 6am because I have calculated that this gives the absolute best exposure on Rightmove.
All my listings get a "premium listing" for ever and a "featured listing" for at least the first 3 weeks and anytime we price reduce. People cannot buy what they can't see and my philosophy is to provide the highest possible exposure for all my listings, something that I achieve anywhere I list properties and can be measured in Rightmove:
Below you will find the "daily average exposure" table for the Tendring peninsula where I most ly operate for all properties over the last week, the last month, the last 6 months or the last 12 months:
Click on the picture to view the gallery of data
As you may see, our home sellers consistently benefit from the highest exposure.
"The longer it takes to sell, the harder it gets to sell" and the best exposure and the optimum probability to sell higher is achieved in the first 3 weeks of marketing ( what I call "plan A").
Plan A is what I delivered for a property in Connaught avenue recently, sold in 3 days.
Or like this property we marketed a few months ago
We launched it for "in excess of £350,000" and accepted an offer for £365,000 4 days later!
Or this one in Great Bromley
We launched it for "in excess of £950,000 and accepted an offer for £1,000,000 5 days later!
Plan B is to have a dynamic price rotation to keep the interest coming.
Timing and timetable
The time is now as stock level is low and demand is high!
Once on the market I conduct all viewings because viewers are more likely to enjoy the experience with the estate agent rather than the home owner. It also allows me to gauge an immediate feedback so important for future negotiations.
Launching between Tuesday and Thursday, I would have advertised a first viewing day the second Saturday after but will accommodate any potential buyers in a position to proceed.
Plan A* is to attract competing offers on the first Saturday after the launch.
Plan A is to attract competing offers on the second Saturday 10 days or so after the launch
Plan B is the price variation up and then down
Solely conducting the viewings helps me understanding the real intentions of the buyers and gives me the tool to maximise negotiation.
The sooner we capture the marketing, the better it is to attract buyers.
First of all I would wish to act as your sole agent for two simple reasons:
- I believe that multi listings only make you look more "desperate" and less "exclusive".
- I don't want to spend money on your listing and witness a buyer calling the other agent because they feel more capable of achieving a discount with the lesser agent
Marketing a property is also acting in your best interest by helping you negotiate the best possible price when a buyer makes an offer.
If you wish to keep your existing agent, I will make an exception and help you find a buyer.
Like the price strategy, I will give you different fee structures for you to choose from as I believe in being better paid to deliver a greater outcome.
Fee structure one
Marketing fee of £2,500 with a 10% performance fee of anything I achieve over £300,000 as a target price
Fee structure two
No marketing fee and 35% of what is achieved over £295,000
We can discuss the level of "target price" and even imagine a different fee structure which you may prefer.
It is really about expectation and delivering the right selling price. This will strongly depend on how the property market reacts in the next coming few weeks.
I am also flexible on the contract length but would appreciate at least 8 weeks to deliver the expected outcome.
My terms and conditions are available for you at the bottom of this page.
You are our priority and you will receive our undivided attention in order to help you sell your home and move onto your next home. It is not another cheesy marketing approach to entice your business but we genuinely care to deliver on your expectations. You would see above that our home sellers do achieve a quantifiable higher price outcome, you may also transparently visit our very transparent performance page but you may check out below that our customers are very happy with our services. ESTAS is arguably the most reliable source for verified reviews, only real customers are allowed to send their valued opinions.