We were pleased with the result achieved with this property
Previously the seller had been on the market for over 6 weeks with a reputable City based agent with multiple branches throughout Zone 1 in London. She was on the market at over £260,000.
Researched proved to us (and our seller) that a sale price of £250,000 was a realistic expectation, so we asked if we could market at offers in excess of £240,000 to help the property gain attention.
We had never attempted to market a property in SE1, or Zone 1 before.
1. The first thing we did, was send in our professional photographer as the previous agent had made such a poor attempt to show what a lovely property the flat is. We think the marketing is just so important.
2. With the permission of our seller, we thought a change in price and marketing tact would be good, however the aim remained to obtain an offer as close to £250,000 as possible.
We had no existing client bank to call through as the property wasn’t in an area where we had had any similar stock previously, so we literally had to wait for the phone to ring. And it did…
After just a handful of viewings we had an offer. Not enough, but an offer. After a week of negotiating we had several increased offers from the same purchaser and one that our seller accepted (and which was just a shy away from her target price).
What does this result prove
It proves that marketing is key. Quality first, price a close second. It suggests that if these factors are correct, Rightmove and the other property portals will function how they are intended to and provide leads which will likely result in a buyer.
The agent previously marketing, and being based locally in Zone 1 most likely have a continued supply of would-be buyers on their database, but they still didn’t sell it, we did.
We saved our client £2376 in fees, and added bonus.