Valuation & Marketing Plan

 

Click on the picture to view the gallery, example of a bungalow in the area

Betts Green bungalows, Little Clacton, Clacton-on-Sea

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

Freehold

None

3

95 or 98 sq.m

209 to 376 sq.m

?

Unknown

Where your home sits on the market

Your property is one of the 10,871 houses that make up Clacton-On-Sea, CO16.

Our latest research tells us that, on average, 3 bedroom houses are worth £241,299.

In total, there are currently 59 3-bedroom houses for sale in Clacton-On-Sea, CO16 and in the last year, there were 330 houses sold in Clacton-On-Sea, CO16. The average sale price of these properties was £266,703.

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.

22 springfield meadows

3 bedroom detached bungalow built new for £315,000 with a plot size of 310 sq.m and internal space of 99 sq.m, no garage. Resale value was £300,000 just before lockdown.

Currently on the market

What are the properties that you would be competing against?

Tan Lane, Little Clacton CO169PS

3 bedroom bungalow currently on the market at £335,000 with 102 sq.m of internal space, garage and about 300 sq.m total plot size. This one is still for sale but similar ones on the same estate probably sold for a little less. Typical example of bad marketing with awful pictures.

Valuation range

Final valuation will vary on the build quality and the equipment level of the finished product. I will assume it is as high as what I experienced in Springfield meadows for example. I have a special formula that I build according to sold prices in the area, it is using a price per sq.ft method or rather in your case, a price per sq.m. I have used two variables which are the internal surface area and the external surface area. There would be a premium for certain plots even with the same variables, i.e. like a corner plot.

Type A, plot 3 280 sq.m plot, 95 sq.m internal

Minimum price: £315,000
Valuation: £320,000
Maximum price: £325,000

Type A, plot 6 209 sq.m plot, 95 sq.m internal

Minimum price: £300,000
Valuation: £310,000
Maximum price: £315,000

Type B, plot 1 376 sq.m plot, 95 sq.m internal

Minimum price: £335,000
Valuation: £345,000
Maximum price: £350,000

Type B, plot 5 311 sq.m plot, 95 sq.m internal

Minimum price: £325,000
Valuation: £335,000
Maximum price: £340,000

Type B, plot 7 234 sq.m plot, 95 sq.m internal

Minimum price: £310,000
Valuation: £315,000
Maximum price: £320,000

Type C, plot 2 297 sq.m plot, 98 sq.m internal

Minimum price: £325,000
Valuation: £335,000
Maximum price: £340,000

Type C, plot 4 314 sq.m plot, 98 sq.m internal

Minimum price: £330,000
Valuation: £340,000
Maximum price: £345,000

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.

The Tendring peninsula is a seasonal property market and it takes longer to sell properties! It must be made easier by starting at the right price!

This pricing philosophy allows my home sellers to achieve just over the original asking price, 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 over the original asking price as you may check here

This is despite the fact my average property price is currently over £600,000 where it is more difficult to sell

 

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 choose from but I believe that the price strategy must be "dynamic", meaning that if buyers are not found within the first 2 weeks of marketing, the price must change! It does not mean "price reduced" and should you be interested in my marketing your property, I will present the various plans.

 

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

Please check out my marketing on similar properties or for the same location..

New Bungalow Kirby Cross

Little Clacton

Little Clacton

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.

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 table for the "Tendring peninsula" CO13+CO14+CO15+CO16  postcodes, one table showing the data over 12 months and the second one over the last week

 

"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 B is to have a dynamic price rotation to keep the interest coming.

The right price and the right marketing do work!

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.  I like my buyers to know and feel they are paying the "right" price, the fact that I achieve just over 100% of the original asking price on average helps my buyers understand that)

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.

More details on the fee structure for multi listings would need to be discussed.

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