Valuation & Marketing Plan
A typical 360 virtual tour
The Crafty Tax cottage
- 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
D (£1,823 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.
Without history data on the purchase, this approach does not work.
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. There is very little to compare around you however as your property is totally unique.
Currently on the market
What are the properties that you would be competing against?
There is simply nothing like yours...
Your property is totally unique and as a two bedroom, it is very difficult to value because it would be capped as per the number of bedrooms while displaying expensive details typical of a more expensive property.
Minimum price: £575,000
Max valuation: £650,000
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 6 months and the last 12 months.
This is for the CO7, CO13,CO14, CO15 and CO16 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.
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 £600,000" for 3 weeks and if no "proceedable" offer is received, we actually move the price up to £625,000 for another two weeks before price reducing to "in excess of £612,500". We can keep rotating every two weeks or drop the price back to "in excess of £600,000". 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 "£650,000 for 3 weeks and if no "proceedable" offer is received, we price reduce to "in excess of £637,000" for another two weeks and rotate between the two prices or drop to "in excess of £620,000"... The price reduction needs to be at least 2% for maximum effect. From there we can rotate again or drop the price to "in excess of £600,000" and follow the first strategy.
The market is still currently strong with a lack of properties and buyers from outside the area with a bigger budget. Starting "high" which is what this strategy is may yield offers not too far below or even above the asking price with competing offers. If not this strategy offers the flexibility of going down and finding the maximum interest price.
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 is the last 4 bed detached property we marketed from £450,000 and we accepted an offer after 3 days at £480,000
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: