Valuation & Marketing Plan
Betts Green bungalows, Little Clacton, Clacton-on-Sea
- 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
95 or 98 sq.m
209 to 376 sq.m
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.
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.
Currently on the market
What are the properties that you would be competing against?
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.
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
Maximum price: £325,000
Type A, plot 6 209 sq.m plot, 95 sq.m internal
Minimum price: £300,000
Maximum price: £315,000
Type B, plot 1 376 sq.m plot, 95 sq.m internal
Minimum price: £335,000
Maximum price: £350,000
Type B, plot 5 311 sq.m plot, 95 sq.m internal
Minimum price: £325,000
Maximum price: £340,000
Type B, plot 7 234 sq.m plot, 95 sq.m internal
Minimum price: £310,000
Maximum price: £320,000
Type C, plot 2 297 sq.m plot, 98 sq.m internal
Minimum price: £325,000
Maximum price: £340,000
Type C, plot 4 314 sq.m plot, 98 sq.m internal
Minimum price: £330,000
Maximum price: £345,000
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
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..
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!
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.