Valuation & Marketing Plan
Your 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
about 8,000 sq.ft
about 15 acres
H (£3,617 p/yr)
Where your home sits on the market
It shows how much average property prices have increased...
Currently on the market
What are the properties that you would be competing against?
Minimum price: £1,750,000
Maximum price: £2,200,000
In normal times I would have valued your property around £1,800,000 to maybe £1,900,000.
The market is currently crazy and you have much to offer in term of location. When I tried to sell the Old Rectory in Sible Hedingham, the issue was often the lack of commuting options into London but your proximity to Manningtree for example is a real asset with buyers looking to potentially commute into the city only a couple of days a week.
In Fact if I was still a fund manager in the city, I would jump at the potential of developing trading offices in the old farm and live on Beaumont Hall. I would certainly advertise to all my past contacts the details of your property.
Looking at what is available I would be even tempted to try at £2,200,000 because quite simply, the property prices have jumped up at least 5% since we last spoke.
Marketing Plan = the right price + the right price strategy+ the best presentation + best promotion = better sale ( higher and faster)
As you do know now, I am the only estate agent having achieved on average selling price at or above the original asking over the last 2 years...and yes it is easier now the market is very active.
The marketing must be the absolute best and use every possible tools to attract the maximum amount of interested parties and make Beaumont Hall an exquisite "object" of desire. There is only one Beaumont Hall!
The valuation in your case is almost irrelevant because the volume of buyers will dictate the real price. The key is how to get to that price! You know that I hate over-valuing but the current climate allows that approach to work. In any case we should not forget that the price strategies are everything!
Price strategy one
We launch with a price tag of "in excess of £1,750,000" for 3 weeks and if no "proceedable" offer is received, we actually move the price up to £1,800,000 for another two weeks before price reducing back to "in excess of £1,750,000". 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 £1,750,000 and will make the property highly visible. We maximise the number of buying interests and can realistically expect a 5% price improvement with a selling price up to £1,850,000
Price strategy two
We launch with a price tag of "in excess of £1,850,000" for 3 weeks and if no "proceedable" offer is received, we price reduce to strategy one. If the market is buoyant at that price, we may also benefit from a 3-5% price upshift taking us to a potential sale at or above £1,900,000.
If little interest is received, we can act quicker than 3 weeks and drop back to the first strategy.
Price strategy three
We launch with a price tag of a plain £2,000,000 for 3 weeks and if no "proceedable" offer is received, we switch to the second strategy by dropping first to £1,950,000, then £1.9m and finally £1,850,000
Once again we don't have to wait 3 weeks to do so.
Price strategy four
We launch with a price tag of a plain £2,200,000 or £2,250,000 for 3 weeks and if no "proceedable" offer is received, we follow consecutive price reductions of 2% or more until we get to strategy 3: £2,250,000 followed by £2,2m; £2,15; £2.1m and finally £2m
There is no time constraints between the price reductions but ideally I like to stop somewhere and rotate the price to show where we think the price is.
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 ground 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 and my previous work with you, 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 (£500)
- Unique 360 photography and virtual tour
- Pro videographer (£300)
- Pro photos and videos with a drone (£200)
- Proper floor plan
- lifestyle description
- Large glossy brochures (£500)
There is nothing to pay upfront but I am just showing you some of the costs incurred by using top professionals.
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 drone photography and a pro videographer alongside my pro photographer and therefore some planning is required.
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 whole tendring peninsula (CO7,CO13,CO14,CO15 and CO16) for all properties over the last month, 6 month 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").
This one last week 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.
Timing and timetable
There is much to plan in order to launch as soon as possible. It must be perfect and exquisite on the launch and it takes a lot of time. I would estimate that it would take a minimum of one week once all the multimedia is captured but it might require several photo sessions.
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.
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
My marketing fee is a fixed £10,000 inc VAT and a 10% performance fee of anything I achieve over £1,250,000 as a target price.
Fee structure two
Marketing fee of 1.1% inc VAT
Fee structure three
No marketing fee and 25% of what is achieved over £1,200,000.
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.
There is no cancellation fee!
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.