Marketing Plan

40 Second Avenue

The best time to sell a property in Frinton is between May and September and this will be truer in 2020 as I fear the property market  will be under pressure once Summer is over.

The main reason a property does not sell is the price and the second is the marketing. If the property was greatly overpriced by 10% or more, it would not attract any interest at all and therefore we are somewhere £900,000 and £1,000,000 as dictated by market forces

Minimum price: £950,000

Maximum price: £1,000,000

Something must be done to maximise your chances.

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 for you to discuss and it must be "dynamic", meaning that if buyers are not found within 2 weeks, the price must change!  It does not mean "price reduced" and you will see what I mean:

Price strategy 1

We reduce the price to £975,000 with a price tag of "in excess of £975,000" for 2 weeks and if not "proceedable" offer is received, we move the price to a plain £1,000,000 for a duration of two weeks before price reducing back to the previous price of "in excess of £975,000"  ( it has to be over 2% to get the price reduction boost) This "reduction" boosts the exposure on Rightmove as you may see below:

By rotating the price between £975k and £1,000k we trigger a boost every time we price reduce to the lower price but we also paint a picture for the potential buyers that the final price will be strictly over £975,000. The downside of that strategy is that the final selling price will not likely reach over £1,000,000. This price rotation can be repeated but not inside a two weeks period.

Plan B

We can rotate the price every two weeks between £975,000 and £1,000,000 but if no satisfying result is achieved, we can move down to £950,000 from £975,000 and then rotate. This time using "in excess of £950,000" and a plain £975k. We may then rotate between the two prices every two weeks.

Price strategy 2

We reduce the price straight down to £950,000 with a price tag of "in excess of £950,000" for 2 weeks and if not "proceedable" offer is received, we move the price to a plain £975,000 for a duration of two weeks before price reducing back to the previous price of "in excess of £950,000"

Price strategy 3

We reduce the price to £975,000 with a price tag of "in excess of £975,000" for 2 weeks and if not "proceedable" offer is received, we move the price down again to " in excess of £950,000 for a duration of two weeks before rotating back to the previous price of "in excess of £975,000"  and so on.

Presentation, promotion and exclusivity

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
  • As a Guild member, my listings are shown in Mayfair, London to potential buyers

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.

All my listings get a "premium listing" for ever and I will keep a "featured listing" for as long as it takes to sell. 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 table for all CO13 postcodes over one full year. Most of my properties are in the Tendring peninsula where I get the maximum exposure.

If I look at the same exposure over 12 months but only for properties over £500,000 in the whole CO13, CO14, CO15, CO16 and CO7 postcodes, this is what it looks like:

"The longer it takes to sell, the harder it gets to sell" and the best exposure helps deliver the optimum probability to sell higher as demonstrated by data on Getagent.co.uk

More importantly I deliver a much higher probability of selling for the more expensive properties. This is the number of sales over the last 30 days for properties over £500,000 in the whole Tendring peninsula :

Why do I wish to be a sole agent?

  1. Something is more desirable the less it is available. Having 3 agents make a home far less desirable.
  2. Something is more desirable if it is well displayed. The other agents do not photographically portray the house in the optimum light. You should keep the agent with the best marketing
  3. Potential buyers may choose the worst looking agent to try to get a price discount
  4. I wish to control the negotiation process because it helps me directing the buyers towards the right price. I got more for Woodlands, Merryday and Winward than original offers and I achieved more than the original asking price on two of them by some margin.
  5. I am ready to invest money to showcase a house and I do not want to see someone loving my presentation and calling the other agent to view it, it is a waste of my time and ressources.

 

 

 

Timing and timetable

  • The weather is currently very kind and I need to update all the outside shots
  • Other agents need to be removed
  • I update pictures and move the price
  • I advertise in magazines
  • I keep the listing "dynamic" and "exclusive"

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.

I have strong negative views regarding the housing market in general but I believe that we have 3 months from now before the real bad economical news do get published and influence the behaviour of buyers.

 

Fee structure

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. I will need to sign a "sole agency" agreement for a duration of 8 weeks.

Fee structure one

My marketing fee is a fixed £7,000 inc VAT and a 10% performance fee of anything I achieve over £950,000 as a target price.

So let's say we achieve £970,000 my agency fee will be £7,000+£2,000= £9,000 inc VAT

If we only achieve £950,000, the fee will be £7,000.

Fee structure two

Marketing fee of £9,000 inc VAT and a 10% performance fee of anything I achieve over £975,000

So let's say we achieve £980,000 my agency fee will be £9,000+£500= £9,500 inc VAT

If we only achieve £950,000, the fee will be £9,000.

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.