29
6
+14%
We will always try and accommodate all viewing requests in that initial surge that happens in the first week of marketing. By increasing the Guide price we are trying to reduce the number of viewing requests when it looks like we are heading towards ridiculously high numbers (which was the case here).
Our Guide Price does not determine or influence market value, as our belief is market value is already inherent within the buyer. All it really influences is activity.
If people believe a property is worth £50k over the guide price, for example, they’ll offer that, or if they feel the property is worth £50k less, then they will offer that.
If you’ve read a few of these case studies, you’ll probably be noticing a pattern here:
As with every other property… we showed everything! The good, the bad, the parts people don’t even think of. E v e r y t h i n g.
This property had been rented for several years and needed work (decoration, cosmetic updating, and external landscaping.) The outbuilding could have done with an overhaul, the plumbing was in place for an en-suite shower room, and there was water ingress from a leak in the flat roof and we made this obvious with our description, 35 photos, and extensive video.
So by showing everything, we actually put the right people off, leaving us with more space to focus on those that are a good (honest) match and interested despite the ‘bad points/considerations’ – we use ‘ ‘ because everything is subjective – what someone couldn’t live with/ doesn’t like is another’s perfect match!
Even with the 35 photos and video showing every angle, we generated 29 viewings – the 29 viewers were aware of the problems and wanted to view despite the negatives/considerations… i.e. these viewings were viewings based on a foundation of informed choice. A filtered influx of people that are more likely to be interested!
Our vendors (the sellers) ended up choosing a lovely couple - both first-time buyers – who would maybe use the outbuilding as an AirBnB or office space! (Income right off the bat).
It turned out there were a couple of unforeseeable issues that came up, but nothing that we couldn’t manage, and we got through to completion.
We had a great working/collaborative relationship with both vendor and buyers, and this means when problems came up, they were easier to overcome with everyone working together towards the same goal.
Let’s talk performance:
We generated 29 viewings, of which 6 offers – the accepted offer was 14% above the guide price.
