Valuation & Marketing Plan
A typical 360 virtual tour
- How I get to a valuation for your home
- My marketing plan to achieve that price
- My fee structure
Type of home
Council tax band
E (£2,210 p/yr)
Using the office of National statistics, I can usually project a first "base" valuation of what your property should be worth, and take into account improvements that might have been made.
Because you bought it so recently, my projection will be very accurate as I know by how much the market has increased which is about 20-25% for our area. Having purchased the property in 2017 for £391,500, this would translate to £470,000 - £490,000 now. However you greatly improved the property since you bought and added further value.
I usually look at comparable properties sold recently in the area rather than the ones currently on the market as they tend to be overpriced.
Currently on the market
What are the properties that you would be competing against?
Currently nothing !
You tried to sell in 2020 for £550,000 but no offers. In my experience this happens when the property is overpriced by at least 10% and this would show that your 2020 price was £500,000. I have indeed sold larger properties inside the gate last year for around £550,000.
If I assume your property was exactly worth £500,000 in the summer of 2020, prices have increased up to 15% since and it would point to a 2021 valuation of £575,000. This is backed up by similar properties sold recently.
Minimum price: £560,000
Max valuation: £600,000
As you will see below, the key parts are the price strategies and the marketing to sell the lifestyle and to get the best outcome from all the many great points offered by your property.
Marketing Plan = the right price + the right price strategy+ the best presentation + best promotion = better outcome
The marketing must be the absolute best and use every possible tools to attract the maximum amount of interested parties.
In the 21st century, estate agents are also "advertisers" or "marketeers" using the number one portal which is Rightmove. The more people see an "advert" on Rightmove, the more potential buyers are "reached", the more viewing appointments are booked in the same short amount of time, the more competing offers are received within that same time frame and the higher the probability is to sell over the original asking price.
If you click on the picture below you will see the average "reach" for our home sellers over the last month, the last 6 months and the last 12 months.
This is for the CO13,CO14, CO15 and CO16 postcodes where we mostly operate:
It is not actually about us, Home Domus 360 being at the top of the "leaderboard" but for our home sellers to receive the top exposure. That means nearly 3 times the exposure from the average agent and twice as much as most agents. More importantly this just makes a difference in your capacity to get the best possible price.
The valuation is one thing but the price strategy is how to reach the best possible outcome.
Within the strategy you will find variations in order to keep the listing more dynamic as the passing of time is correlated to a decrease in exposure and a lower probability of achieving competing offers over the last asking price.
You can see the profile of a typical listing by clicking on the picture below:
Price strategy one
We launch with a price tag of "in excess of £560,000" for 3 weeks and if no "proceedable" offer is received, we actually move the price up to £575,000 for another two weeks before price reducing to "in excess of £560,000". We can keep rotating every two weeks. 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.
Price strategy two
We launch with a price tag of "£575,000 for 3 weeks and if no "proceedable" offer is received, we price reduce to "in excess of £560,000" for another two weeks and rotate between the two prices... The price reduction needs to be at least 2% for maximum effect.
Price strategy three
We launch with a price tag of "£600,000 for 3 weeks and if no "proceedable" offer is received, we price reduce to "in excess of £588,000" for another two weeks and rotate between the two prices or reduce further to "in excess of £575,000" and follow the second strategy.
The market is still currently strong with a lack of properties and buyers from outside the area with a bigger budget. Starting "high" which is what this strategy is may yield offers not too far below or even above the asking price with competing offers. If not this strategy offers the flexibility of going down and finding the maximum interest price.
This strategy gives you a chance of achieving between £575,000 and £600,000 it certainly will show if we can or cannot get that price before price reducing.
Price strategy four
We launch with a price tag of "£625,000 for 3 weeks and if no "proceedable" offer is received, we price reduce to "in excess of £612,500" for another two weeks and rotate between the two prices or reduce further to "in excess of £600,000".
I have a very high % of success as you may transparently check out on my performance page. These strategies allow 60% of my vendors to sell at or above the original asking price. Another 30% of my vendors will at least achieve a selling price within 3% of the original asking price.
I like this third strategy as it will show you if our better marketing may extract a little bit more...
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 but I would go all out with yours:
- Twilight photography
- Lifestyle photography
- Unique 360 photography and virtual tour
- Pro photos
- Proper floor plan
- lifestyle description
There is nothing to pay upfront! No sale no fee!
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.
The buyer must fall in love with it so selling the lifestyle goes well beyond selling bricks and mortar.
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 as you saw above.
"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").
My philosophy is to give you the best possible marketing that is normally seen with more expensive properties! Your home deserves the best!
This one is Clacton, we listed at £350,000 and accepted an offer at £358,000 within 2 weeks of marketing...
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!
Over 4000 Rightmove views, 17 viewings, 7 offers with 3 at £1,000,000 which is 5.26% higher.
The key is also to conduct all the viewings which allows me to help conduct the negotiations towards the price going up as soon as I see the opportunity.
Plan B is to have a dynamic price rotation to keep the interest coming.
Or this one in Beaumont:
We launched at £2,000,000, 19 viewings and 4 offers later we accepted £2,040,000 4 weeks later. We received 13,000 views on Rightmove
Again the key was to find what to portray best about the property. It was not just the property itself but the magnificent grounds. All viewings were conducted in a relaxed manner without putting pressure on the potential buyers. The offers came naturally and gently together so the right pressure could be applied to push the price up and choose the best possible buyer.
So regardless of the property price, we aim to give the very same high quality service to deliver the best possible price.
Timing and timetable
My suggestion would be for me to capture the marketing of your property as soon as the weather allows it because it would help showing your property in the best of light.
If you want to go on the market straight away, we can do that of course or we can wait for you...Click on the picture below:
Whenever you are ready we would plan the best day(s) for the photography concluding with a twilight session.
My advice would be now to try that fourth strategy at £625,000 as soon as possible and until Mid-January
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 first 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.
I would prepare the marketing but you would have no obligation if you decide not to go on the market.
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.
My philosophy is to offer a fee structure based on true achievement and performance level. This unique philosophy is transparently explained on my website.
I believe that our approach delivers selling prices that are consistently around 3 to 4% higher than what other agents would achieve with the same property. What matters is how much net in your pocket we will achieve for you. You could go with an agent quoting a fee of 0.5% but they might get you 3% less on the final price.
From the first 3 price strategies:
Fee structure one
My marketing fee is 0.3% including VAT and a 10% performance fee of anything I achieve over £560,000.
Fee structure two (standard)
Marketing fee of 1.1% inc VAT
Fee structure three
No marketing fee and 20% of what is achieved over £560,000 as the minimum selling price. The total fee would be capped at £7,000 including vat
Using £560,000 is more of a calculation method for the fee, I am not suggesting that you should consider selling at that price. I genuinely think that £575,000 is achievable.
From the fourth price strategy:
Fee structure one
My marketing fee is 0.3% including VAT and a 20% performance fee of anything I achieve over £600,000.
Fee structure two (standard)
Marketing fee of 1.1% inc VAT
Using £600,000 is more of a calculation method for the fee.
Fee structure three
Marketing fee of 0.55% + 20% of anything achieved over £615,000 as a target price ( all inclusive of VAT)
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 6 weeks to deliver the expected outcome for your property.
There is no cancellation fee!
My agency terms are available at the bottom of each page on my website, including this page and also from this link
Please find a table showing the possible fees from the first three strategies
Please find a table showing the possible fees from the fourth strategy
As you may see, when we give a price expectation, we "put our money where our valuation is" because we believe that this shows that we are 100% in your corner because if we don't deliver on our top promises, the fee would be a lot less.
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.
May I once again emphasise that we must be the only estate agent transparently displaying our performance level, our fee structure, our agency terms and verified reviews on our website.
It is really not the case of showing off and declaring that we are the best but it just happens that we do know that our clients do receive the best possible effort for them to achieve the best possible outcome and that is fully measurable.
I cannot publish some of the data that I collect from Rightmove but you should see from the following table a few key factors that will be relevant to you when choosing the right estate agent