Valuation & Marketing Plan
A typical 360 virtual tour
79 Frietuna road
- 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
Last sold in July 2020 for £235,000
E...to be redone
D (£1808 per year)
Using the office of National statistics, I can usually project a first "base" valuation of what your property should be worth based on the price you paid for it, the date your purchased it and the improvements you have made.
You purchased the property in 2020 for £235,000 and prices have improved around 15-20% since in Frinton-on-sea. This would project a price around £280,000 now
This is what I call my "mathematical projection".It is only one approach and in this case, you bought cheaply because everything had to be redone. Therefore this method is incomplete for your property.
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. However there is nothing to compare your house with in Clacton/Holland-on-sea so I must use other angles...
Completed at £330,000 in June 2021 and prices have gone up since. This 3 bed detached would now fetch about 10% more and around £365,000. It is bigger than yours but needed money spent on it.
Currently on the market
What are the properties that you would be competing against?
Just gone on the market at £350,000. This 3 bed detached is 30% bigger than yours and in very good condition. This would point towards not trying to sell anything over £350,000
This is why I always wish to view the property first, do my homework and come back with a precise valuation. I verbally told you £350,000 to £375,000 but I need to slightly revise my price analysis because I since found out that the 4 bed near you was sold (stc) at £325,000 and not £345,000 while a new property has come on at £350,000 which would compete with yours. I am confident that we can get more than the asking price but not £375,000. I will set the minimum price at £325,000 and the maximum price at £360,000
Minimum price: £325,000
Max valuation: £360,000
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 12 months and the whole of 2021.
This is for the whole Tendring peninsula CO13 and CO14 where you live:
It is not actually about "bragging" 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 (price to entice)
We launch with a price tag of "in excess of £340,000" for 3 weeks and if no "proceedable" offer is received, we actually move the price up to £350,000 for another two weeks before price reducing to "in excess of £340,000". 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 "£350,000 for 3 weeks and if no "proceedable" offer is received, we price reduce to "in excess of £340,000" and rotate between the two prices two weeks later... This gives us a chance to explore having competing offers from £350,000 around £355,000 and possibly a little higher.
Price strategy three
We launch with a price tag of "£360,000 for 3 weeks and if no "proceedable" offer is received, we price reduce to "in excess of £350,000" and follow the second strategy. This gives us a chance to explore having offers around £355,000 and maybe even £360,000.
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.
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 and I would deliver the same 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 last bungalow in Frinton-on-sea, we marketed from £500,000 and accepted an offer at £500,000 within 12 days...
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
The best time of the year to sell is usually between April and October and this would apply to you. However the market is already strong and the stock level is going up.
Whenever you are ready we would plan the best day(s) for the photography concluding with a twilight session.
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.
Fee structure one
My marketing fee is 0.3% including VAT and a 10% performance fee of anything I achieve over £325,000. The total fee would be capped at 2% including vat of the completed price.
£325,000 is a minimum price for the purpose of fee calculation, I would obviously aim to deliver a price as high as possible.
Fee structure two (standard)
Marketing fee of 1.1% inc VAT
Fee structure three
0% marketing fee and 15% of what is achieved over £325,000 as the minimum selling price. The total fee would be capped at 2% including vat of the completed price.
All fee amounts are 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