Valuation & Marketing Plan

 

Click on the picture to view the gallery of a recent property nearby

 

 

Our 360 virtual tour

131 Thorpe

Thank you very much for considering us to market your home, my purpose here is to show you:

 

  • How I get to a valuation for your home
  • My marketing plan to achieve that price
  • My fee structure

 

Valuation

Your home

Type of home

Tenure

Sale history

Bedrooms

Internal area

Plot/land area

EPC rating

Council tax band

Detached bungalow-chalet

Freehold

23/11/2015 £225,000

3

About 1100 Sq.Ft?

0.105 acres

E

D (£1,808 p/yr)

Where your home sits on the market

Your property is one of the 5,572 houses that make up Frinton-On-Sea, CO13.

Our latest research tells us that, on average, 3 bedroom houses are worth £319,378.

In total, there are currently 119 3-bedroom houses for sale in Frinton-On-Sea, CO13 and in the last year, there were 162 houses sold in Frinton-On-Sea, CO13. The average sale price of these properties was £357,330.

Historical analysis

Using the office of National statistics, I can usually project a first "base" valuation of what your property should be worth, assuming that no major work has been carried out over the years.

You purchased the property in 2015 and according to the ONS the property prices may have gone up about 45%. This would project a price of £326,000 without taking into account the improvements since.

Quite simply you had an offer around £315,000 last year and the property prices have gone up about 10%. In fact they probably moved up 15% between January 2020 and now but you saw some of that increase last year.

Honestly I do think I would have achieved £325,000 for you last year thanks to our marketing and exposure and therefore that would project a price now between £357,000 and £374,000 for your property.

Comparative method

First of all, I always look at comparable properties sold recently in the area rather than the ones currently on the market as they tend to be overpriced.

However completed price do shows the market the way it was 6 months before or more so we need to adjust for the way prices have evolved since. It is particularly important right now as the property market is booming.

 

 

Frinton Road, Kirby Cross

Recently sold stc, this bungalow would have achieved more if not on the main road and with a better marketing. Was around £335,000.

This would point to yours being certainly at least capable of reaching £350,000

Currently on the market

What are the properties that you would be competing against?

8 Orchard Gardens, Kirby Cross

3 bedroom bungalow typically totally overpriced and under marketed at now £415,000.

It would make any other listing look good...

Valuation range

There is not a great deal of properties on the market now and the demand is very strong!  This means that the price is going up. On paper I would say your bungalow-chalet is worth £350,000 to £360,000 but we may get more!

Minimum price: £350,000

Valuation: £355,000 to £365,000

Maximum price: £375,000

 

Marketing philosophy

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.

 

Price strategy

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 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:

Price strategy one

We launch with a price tag of "in excess of £350,000" for 3 weeks and if no "proceedable" offer is received, we actually move the price up to £360,000 for another two weeks before price reducing back to "in excess of £350,000".  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 £350,000 with a maximum potential of achieving about £360,000.

Price strategy two

We launch with a price tag of "plain £360,000" for 2 weeks and if no "proceedable" offer is received, we move the price down to "in excess of £350,000" for two weeks and follow the first strategy.

Price strategy three

We launch with a price tag of "375,000" for 2 weeks and if no "proceedable" offer is received, we price reduce to "£367,000" and then £359,000 and then £350,000. We don't have to wait two weeks between price reductions but price reduce once a week until we generate the right amount of interest. From £350,000 we can follow the first strategy.

In normal times I tend to prefer the more aggressive approach if the price target can be valued within a 3% variation up or down. However we do not live in normal times and the high price strategy may work with a fantastic marketing reaching out to many buyers.

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 CO13/CO14 postcodes 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.

Selling a property is no different to launching a new product on the market!
Advertising a property is no different to advertising a product on TV and our main channel is Rightmove.
We aim to provide maximum exposure for our home sellers and the data does not lie.

"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.

Fee structure

First of all I only 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.

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 0,55% inc VAT with a 10% performance fee of anything I achieve over £350,000 as a target price

Fee structure two

No marketing fee and 20% of what is achieved over £350,000

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 for a property in the CO13 postcode.

My terms and conditions are available for you at the bottom of this page.

 

Fee option 1
Fee option 2
£350,000
£1,925
£0
£360,000
£2,980
£2,000
£365,000
£3,507
£3,000
£375,000
£4,562
£5,000

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.