Valuation & Marketing Plan
A typical 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
B (£1,406 p/yr)
Where your home sits on the market
Your property is one of the 10,661 houses that make up Clacton-On-Sea, CO16.
Our latest research tells us that, on average, 4 bedroom houses are worth £342,670 and many of them are detached.
In total, there are currently 29 4-bedroom houses for sale in Clacton-On-Sea, CO16 and in the last year, there were 254 houses sold in Clacton-On-Sea, CO16. The average sale price of these properties was £261,856.
I think you actually fit right in the middle between £260,000 and £340,00.
Using the office of National statistics, I can usually project a first "base" valuation of what your property should be worth, assuming that no major work has been carried out.
However you have totally changed, upsized and improved the property in every way. This pricing approach does not work for you apart from saying that you should get back a lot more than what you have spent on the modifications.
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. In your case there is no more recent sale than your own property so I won't look beyond what I did put on the original report.
3 bedroom semi-detached chalet sold for £260,000 in January 2020. I am using this because it is difficult to find a 4 bedroom semi-detached chalet sold near you...a great point for you. Your property is much nicer, bigger and with another bedroom.
4 bed semi-detached sold in November 2018 for £292,500. The market has gone up since and I would estimate the value now to be over £300,000
Again your property will be more attractive, this has a conservatory but a very classic layout compared to your modern open plan.
Currently on the market
What are the properties that you would be competing against?
A very attractive 3 bedroom semi-detached house for someone ready to move in. Added recently but has not sold at £279.995. Is it overpriced and under marketed? A fourth bedroom would add £20,000
It is actually very hard to value your property because there is nothing similar recently sold or available within a mile or more. You have totally changed your property only purchased last year which makes it totally unique. It is also very hard to value because it is in Clacton. I could make a case it is worth around £285,000 but the fact it is so unique must take us at or above the £300,000 barrier and competing against detached 3 bedroom houses.
Minimum price: £300,000
Valuation: £300,000 to £310,000
Maximum price: £320,000
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.
This pricing philosophy allows my home sellers to achieve just over the original asking price, In CO16 or elsewhere, 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 than the average property price of £340,000 around colchester
However the market has been buoyant and "overpricing" a little has delivered more results than before, people are coming from different areas and pick up the more attractive properties. Yours tick many boxes for many types of buyers.
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 when possible 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 3 weeks of marketing, the price must change! It does not mean "price reduced" and you will see what I mean.
In light of not selling below £300,000, I believe there is only one strategy:
We launch with a price tag of "in excess of £300,000" for 3 weeks and if not "proceedable" offer is received, we...
have a plan B and a plan C but this is only between the home sellers and ourselves...sorry 🙂
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
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 "daily average exposure" table for the whole Tendring peninsula postcodes for all properties over the last week, the last month or the last 12 months:
"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 A is what I delivered for a property in Connaught avenue recently, sold in 3 days.
Or like this property we marketed two months ago
We launched it for "in excess of £350,000" and accepted an offer for £365,000 4 days later!
Or this one in Great Bromley
We launched it for "in excess of £900,000 and accepted an offer for £905,000 10 days later!
Plan B is to have a dynamic price rotation to keep the interest coming.
Timing and timetable
As soon as we have a window of opportunity with the weather in the new year, I should capture the marketing and aim to launch sooner rather than later in January.
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.
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 £3,000 inc VAT and a 10% performance fee of anything I achieve over £305,000 as a target price.
Let's say we sell at £310,000 the total fee including vat would be £3000 + £500 = £3,500
Fee structure two
Marketing fee of 1% inc VAT
Let's say we sell at £305,000 the total fee including vat would be £3,050
Fee structure three
Marketing fee of £0 and a 50% performance fee of what I achieve over £300,000
Let's say we sell at £305,000 the total fee including vat would be £2,500
Let's say we only sell at £300,000, my fee will be £0
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 CO16 postcode.
My terms and conditions are available for you at the bottom of this page.
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.