Stirling Road

We originally had a Guide Price of £725k - as you know, our Guide Price is purely our 'Pitching Point' to the market rather than an expectation of value.

After completing all the viewings, we ended up with multiple offers (13 to be exact) and so went to Best & Final offers – the way we do Best and Final offers are designed to be fair and non-coercive. We never provide guidance as to what people should offer or disclose any other offers. We also try and give people as much time as possible to offer (within reason) with no coercion or panic. This mitigates against people making decisions they go on to regret. Its fair to the buyers (as they all get a chance to view, and a chance to offer), and fair to our client (who can be happy they have been properly exposed to the market and can then go on to choose the buyer that best suits their situation balanced against the price offered).

Presentation:

This is such a key part of the property marketing process. We've said it before, but we'll keep saying it... SHOW EVERYTHING. 5 pictures and a PowerPoint presentation (normally of the same 5 pictures) of your property won't expose your property to the market effectively. The world of property sales & marketing has changed.

Anyway... that's for another upcoming blog.

The point of the extensive video is to be FULLY comprehensive (hence it being 7.5 mins). We could make it shorter, get some fancier angles, include more fun drone shots, etc. but we're telling a story to those that are fully invested in learning and seeing more about THIS property (warts and all!).

How it went:

We were pretty inundated. We listed this on a Friday (29th October '21) and by the next day (Saturday 30th) we had 30+ enquiries to view with calls still incoming. So, we increased the Guide Price from the original £725k up to £750k to try and reduce the velocity and voracity of the calls. We're more than happy to do 100 viewings if it means we get the best market price, but we know there is room to increase the guide price when we are heading towards those sorts of numbers.

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Anyway, the price rise did the trick, by Monday we had 56 viewings planned for the coming week.

The End Result:

The original market pitch point was £725,000. Our highest offer was £860,000 but we landed on an offer of £820,000 because this worked the best for our vendors' situation and her forward purchase situation.

Due to the power of the buyer she chose, she found her dream flat close by in Dean Park. Our vendor was competing against other buyers but was able to offer the flexibility of her buyer to the vendors she wanted to buy from, and so was very happy with the result. (If you are selling and looking to buy, there is no point in accepting an offer from a buyer that is not going to help you secure a property due to their position, irrespective of what offer they may have made).

Our vendor has moved into the flat now and is really content with the outcome.