Valuation & Marketing Plan

 

Click on the picture to view the gallery for a property we recently marketed in Frinton

A typical 360 virtual tour

6 Cambridge road

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 property

Freehold

No recorded history

4

To be established

0.263 acres

To be established

F (£2,612 p/yr)

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.

No recent data for your property to use with this method.

Comparative method

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...

Oxford road, Frinton

A 4 bed detached of 2,100 sq.ft having completed for £691,800 in Jan 2021. Arguably prices have moved up between 10 and 15% since and this would project a price of between £760,000 and £800,000 now. I cannot show you the rest of the pictures but your property is more in need of spending from the next owner.

19 Eton Road, Frinton-on-sea

A 4 bedroom of 1,500 sq.ft having completed at £585,000 in February 2021. The property was modernised and under-achieved in my view. The market having increased by 10 to 15%, this would project a price between £643,000 and £675,000 now.

Winchester Road

A 4 bedroom having sold around £600,000

Currently on the market

What are the properties that you would be competing against?

 

 

 

Glebe Way

A larger, more modern 4 bedroom property of around 1800 sq.ft on the market for £695,000.

Pole Barn Lane

A 5 bed detached in Pole Barn Lane at £650,000

The Crescent

A five bedroom a little dated at £699,995

Valuation range

It is difficult to value because it has great potential but money will need to be spent by new owners. It has a great double plot in a great location by the sea but the negatives will also be a much smaller fourth bedroom and a share access to the garage. In a show home condition, it would be worth around £750,000. As it is, I feel it is worth around £665,000 to a maximum £685,000 if we do launch at £675,000. I am confident that the market conditions will yield competing offers around that price but buyers will be mindful of quantifying how it would cost to change Kitchen, Bathrooms and re-decoration for example

Properties recently coming on the market mean that going higher than £675,000 would probably be a mistake. My realistic target would be to get around £660,000 as a minimum and £685,000 as a realistic target. £700,000 is possible as other properties will appear overpriced against yours and the market can be a little silly.

Minimum price: £625,000

Valuation: £665,000-£675,000

Max valuation: £685,000

 

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 philosophy

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.

 

 

Maximum exposure

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 and CO14 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.

You are not in the same area but I do know that our marketing will deliver a greater exposure than the local agents.

 

 

Price strategy

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 £650,000" for 3 weeks and if no "proceedable" offer is received, we actually move the price up to £675,000 for another two weeks before price reducing to "in excess of £660,000". Two weeks later we may move up to £665,000 and price reduce to "in excess of £650,000".  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.

From £650,000 if we have not sold, we may price reduce to "in excess of £635,000" rotate back up to £650,000 before price dropping again two weeks later

This would be my choice strategy as your property is likely to compete with other in the same price bracket.

Price strategy two

We launch with a price tag of  "£675,000 for 3 weeks and if no "proceedable" offer is received, we price reduce to "in excess of £660,000" for another two weeks and rotate between the two prices...  The price reduction needs to be at least 2% for maximum effect.

From £660,000 we could also move up to £665,000 for two weeks before price reducing to "in excess of £650,000" and follow the first strategy.

This would be a possible approach.

Price strategy three

We launch with a price tag of  "£700,000" for 3 weeks and if no "proceedable" offer is received, we price reduce to "£685,000" for another two weeks before price reducing typically by 2% down to "£670,000" and rotate between the two prices or drop back down to "in excess of £650,000" and follow the first strategy.

I think that the £700k strategy would be risky as it may appear overpriced versus other properties available but we would know in the first week of exposure if that is the case.

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 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 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: