Category Archives: Our Estate Agents

London Marathon 2018!

IMG_2995Elizabeth Davenport Director Nick Luntley is running the London Marathon later this year in order to raise money for the very well known national charity Scope. Nick who is a keen runner has never ran a marathon before but is looking forward to the challenge of distance runnings greatest test!

Nick who runs for Massey Furgusson Running Club, is looking to raise £2,000 and his efforts were given a massive boost with the very generous donation made by Band Hatton Button Solicitors who have put forward £1,000.

Nick Button who is a partner at Band Hatton Button said “we are absolutely delighted to support Nick in his marathon effort for such a worthy charity in Scope. All I can say to Nick in regard to the marathon itself is, rather you than me!” Nick who works out of both the Kenilworth and Coventry branches at Elizabeth Davenport said “I’m absolutely delighted with the support shown from Band Hatton Button when I approached them for some support I was absolutely delighted they said yes without a moments hesitation. Scope is a fantastic charity that I’m proud to support. I know once this is all over I will be able to look back with great pride about the amount of money raised and the lives we will have been able to improve.”

The annual capital marathon event is ran from Greenwich in south London and finishes in on The Mall right outside Buckingham Palace. This year there is a fantastic field of elite athletes including the famous Kenyan athlete Eliud Kipchoge and Great Britain’s Olympic hero Sir Mo Farah.

The London Marathon is on Sunday 22nd April and there is still time to support Nick by making a donation to his just giving page https://www.justgiving.com/fundraising/nick-luntley

Merry Christmas, Reflections and What To Do Next!

Despite being open between Christmas and New Year I think it’s only fair to say the end of the year feels nigh. There’s a great deal of properties for sale due onto the market in the New Year with a real split as to whether some sellers want their homes marketed over Christmas or waiting until afterward.

Well, matter of fact,  Rightmove is busier over the festive period than at any other time of the year. If your house is on the market over Christmas it will get more online views. It could inspire a buyer to view in the New Year and it may inspire a buyer to get their own property marketed in order to potentially offer on yours! Thankfully though, what it won’t do, is lead to buyers wanting to view your home on Boxing Day and instruct Solicitors the day after.

So honestly don’t be scared if you feel the time is right to launch onto market or you’re already on it. You will not be having  (anymore unwelcome!) visitors over Christmas!

Wearing Dr Suess’s Grinch head and on a more subjective, controversial and slightly sarcastic note I wanted to throw down the gauntlet to any and all of our erstwhile competition!

In 2018 I would love the opportunity to sit down with George and Nick and talk about the virtues of another agents marketing and how we should copy it identically. In no particular order of irritation we have seen our competition adopt our style of Gallows boards, the introduction of floor plans into the main details, the use of copy written stamped photographs and the attempted duplication of night shots.

In 2018 I’m thinking about how funny it will be to launch a ridiculous new marketing campaign with the comedic effect of seeing how many other agents copy it identically. Maybe valuation appointments dressed as a seasonal character?  This Winter we’ll attend all appointments dressed as a Snowman or an Elf (in the Spring a Rabbit or an Egg could be a cracking idea!).

If imitation is the highest form of flattery then a big thank you from ourselves is certainly due.

Alternatively and quite topically we could be simply discussing the case of the unknowing Shepherd  leading someone else’s Sheep!

Grinch head removed (and put back in the loft for next year?).

Thank you to everyone we’ve worked with this year, Buyers and Sellers, Solicitors and IFA’s, Surveyors (well actually?…….Sorry, I’m only kidding!) and prospective Clients alike.

Have a happy, healthy and restful break. Merry Christmas to One and All!

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Autumn Sales & Dangling Christmas Baubles!

Firstly, apologies for the word “Christmas” being used before Mid November. Within this industry though the “Christmas Effect” often generates the same response as the “Autumn Sale”. And it does happen early.

There are a multitude of reasons why people want to sell. For those who genuinely want, or need, to sell (not because they “may” want a change or they have seen only one unique property they want) then having a sale agreed before the next calendar “milestone” seems to be a much needed psychological box ticked.

With over 37% of properties (nationwide) being reduced from the initial listing (our average sits currently at 8.8%) this Autumn Sale has hit a 5 year high. Why?

Once again, over eager pricing to win the instruction or the clients desire to ride the high price wave experienced by neighbours in the Spring could be the most obvious motivations.

The simplest explanation to the dangers of over valuing are easily explained . If I value your home at £400,000 and you want the house marketed at £425,000 (and we both agree the launch marketing is perfect!) then if no one comes, we know the launch price was wrong.

It is, honestly, as simple as that.

At £400,000 (if my appraisal was correct) more than one buyer may well be interested and we secure £410,000.  At £425,000 if we then have to reduce, the buying public are aware of the reduction and what comes next are even lower offers than the reduced figure.

So with Christmas around the calendar corner, now must surely be the time to consolidate. A rebrand and a sensible asking price will surely be recipe needed to generate the sale price you need.

Leaving you free to think about what to buy your Children and your Aunts, what food you’re preparing, whose house you are going to on Boxing Day, whether Mable prefers Sherry or Port and whether Santa is actually a good or bad influence etc etc……………..Santa (1)

Why Over Inflated House Pricing Sells Your Neighbours House and Not Yours!

Big Shot Estate Agents

Welcome back! That was as long a Summer as I’ve enjoyed without Sun as far as I can even remember!

Business however was brighter. There was none of the traditional slow down over the months of July and August whatsoever. Instruction levels were high and the interest accordingly. The buyers we needed to attract had obviously decided to not take gloriously long overseas holidays and instead concentrate on securing new home’s for themselves!

Such a successful Summer led me to review the market in general and a couple of valuations I was involved with.

Now, more than ever, the asking price for a home is so crucial that an overvaluation will have such negative effect it will simply show buyers what good value neighbouring homes are instead of your own. I am not saying undervaluing is the solution but, put simply, it bears no risk in comparison to its capitalist and heinous cousin, the greedy valuation.

If a house is truly “undervalued” whether purposefully or accidentally then the worst that will happen is the public will agree it’s exceptional value and numerous offers will then be received. Through negotiation the price then reaches the correct (and increased value!). Although as a buyer this can be an unpleasant experience, a good agent, if they handle it correctly and honestly, will offer advice and build relationships that will help those unlucky first time round (or third if you are like myself!) that will come good in the end.

I looked at the Purple Bricks very carefully. I saw more local instructions with Purple Bricks than any other agent. With false promises (semantics if you will) of no commission (fee’s instead) and a NO SALE BUT STILL PAY OUR FEE philosophy, there is no surprise to see that their “Price Reductions” are also the highest in the local area.

Without being too simplistic about it, the easiest way to achieve an instruction is to tell a client that there property is worth more than it is. Add that to “pay me whether it sells or not” and you have an agent whose ethos is for “being paid for instructions to sell houses for less than the listed price”. If you want annual statistics to prove this point in Black and White (not Purple) then contact me and I’ll be happy to explain that all that glitters isn’t Gold (but it is possibly Purple!).

National Statistics Are Blown Away By Elizabeth Davenport Sales Figures!

Here’s some fantastic news that both we and the NAEA have compiled over the last few months! This is fantastic, not  simply for the reason that myself and my colleagues have seen success,  but fantastic because as a seller, the results we are achieving are better than any national average available!

The latest data and analysis from NAEA Propertymark has revealed that only 3% of properties sold for more than the asking price in May – a drop of 4% from April and the lowest level since October 2016.

According to the report, the number of homes which sold for less than asking price rose to 77% last month – up 5% from April.

Woah! Let’s slow down a moment. Less than asking price sales agreed means one of normally two  things (or maybe, if you’ve genuinely chosen the wrong agent, both).

One: The property has been overpriced to win the instruction.

Two: The agent’s marketing has not been good enough to attract enough buyers to create the interest and drive the price upwards.

(Three): Both

In contrary to these figures, we in May alone saw 70% percent of our sold properties sell for over the asking price and 15% for asking price. That leaves only 15% that sold for below asking price.

This tells me that we can still improve but it also tells me that we are working with the clients best interest at the forefront of our business. We are not simply looking to sell your home, we are looking to absolutely achieve the very best results possible!iStock_000002696243XSmall

‘Just whack it on Rightmove’ not at Elizabeth Davenport!

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Almost all online and an increasing number of High Street Estate Agents attribute far too much importance on getting properties on websites like Rightmove as soon as possible. I see so many properties where the agents have simply just hurriedly taken a few snaps with a point and shoot camera and thrown them on to the web with little care or thought. Floor plans missing, generic descriptions and poor photography are becoming more and more prevalent. There is a view held by some that all you need to do is get the property on Rightmove and the enquires will flood in and a sale will follow! If only it were that simple!

At Elizabeth Davenport we have a specific plan and strategy for every home that we market and we not only put a lot of thought and time into the marketing, we also follow a general three step process that allows us to market your home to its full potential.

Step 1

On the fist day we introduce your property to the market we contact all of our qualified registered buyers that on our database. These are people that we have spoken to and know their buying criteria, often these people are what we class as ‘motivated buyers’. This is because these people are proactive in their search and are often in proceedable buying positions (if this is you please call and register with us if you haven’t already). Your property will then be featured on the homepage of our website so in effect most visitors to our site will see your property straight away.

Step 2

After this we enter the second stage of the process. We upload your property to the ‘New and Exclusive Homes’ section of the OnTheMarket.com website. This is a really good feature as we register all of our prequalified buyers here as do all of the other member agents.

Step 3

Usually 24-48 hours after the initial launch we then release the property to our other property portals including Rightmove where there are larger numbers of buyers but a lower concentration are proceedable. Any leads from this the final stage of introducing your property to the market will be qualified by our negotiators before viewings are arranged.

After all this has taken place advertisements appear in print productions like the Coventry Observer and our own seasonal newsletter.

In summary we believe that the quality of the viewings is more important than the quantity. Of course many of our properties have both a high quantity of quality viewings which is always our goal! We genuinely take time to think about how best to market your property and provide quality marketing materials to get you the best results possible. This is why we will always provide an alternative from the lazy ‘just whack it online and see what happens’ approach seemingly adopted by so many

 

Clocks go back but the times move on !!

Dark at 4.30pm. That’s the sad reality now that the clocks have gone back for the winter. And that means trying to get things done after work can be really difficult (unless you work nights of course!!)

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At Your Service

And if you’re house or flat hunting that can make trying to view prospective properties very difficult indeed, especially with many agents closing down for most of the weekend. Looking round a property in the dark is a futile experience, you can’t make a buying decision under such conditions.

And what if you’re selling a property? Exactly the same applies. It can be difficult to find a buyer if your Estate Agent doesn’t do weekend viewings when demand is at it’s highest.

One of the reasons we are now the market leader for sales agreed in the area is our attention to details and this includes arranging and overseeing access to our properties during weekends and this includes Sundays.

So if you serious about buying or selling this winter, don’t get caught in the dark, give us a call and move a full step closer to that next home move. Talk to Coventry’s favourite Estate Agents on 02476 010105 today.

The Birmingham Children’s Hospital & Thank You

supporting-BCH-Logo-5000x4287The Birmingham Children’s Hospital is very close to my heart. We promised a donation from Elizabeth Davenport after running the Coventry Half Marathon. George and I had a great day, completing the course whilst being cheered on by wonderful spectators. The Birmingham Children’s Hospital treats about 250,000 children a year and by the nature of never being good enough, they are a fundraiser in themselves. From a £5 donation for colouring books to £45,000 for a mechanical heart, the hospital genuinely believes that the families who are treated know that the care of their child is the most precious priority. We wanted to raise enough money to be able to buy a Glideaway bed. These enable Mum’s and Dad’s to spent the night next to their little ones at times when they simply couldn’t be apart. By donating from fees earned between Christmas and now, we are really pleased to have succeeded. Thank you all for your instructions. Every one of our clients has helped!

I’d also like to add that George beat me and that I am not at all bitter. I haven’t dwelt on it. Not at all. I haven’t really given it a second thought. I swear he must have jumped a hedge. Or a corner. Maybe both. Yes, that’s it. I feel much better now.

Gearing Up For The New Year Property Rush

This December has seen a record amount of activity with many new properties coming onto the market. This bodes well for the New Year when buyers will re-surface from the Christmas break looking in earnest for their new homes. Chrimbo-web

In recent years there has been a short supply of property during the New Year spell. At Elizabeth Davenport we have been putting lots of new homes on sale during December and expect the majority of these to sell during January.

We have a huge database of registered buyers waiting for the right property, so if you’re thinking of selling then now is a good time to give us a call and we’ll explain how we can find you a buyer quickly and effectively. Recent independent statistics provided by Rightmove have shown that in the majority of price-bands, Elizabeth Davenport sold more properties in Coventry than any other Estate Agency branch in the city (during 2015). Our representative will be happy to verify theses statistics during the valuation process for your property.

If you’re looking to maximise the return on your home then give us a call. As we have access to more buyers than other Estate Agents we will almost certainly be able to sell your property for more money and in a shorter timeframe. Call us today on 02476 010105.

The Best Service Does Not Mean The Highest Fee & The Same Applies Backwards!

Did you know that the last Calendar year has seen us sell more houses in excess of £190,000 than any other agent in the Coventry area. We didn’t. Not until we received communication from Rightmove directly expressing there congratulations. Our stock levels are often considerably less than our competitors but from this smaller stock we are selling a higher percentage of homes. We were delighted with this. Selling more from a smaller stock means more client care and better service. Clearly the marketing, photography, office staff and viewing representatives are all doing their job properly too!

However, this success is only is only one half of a very different story!  There is a massive market of property that we often don’t get the opportunity to work with. Market research has shown us that the reason our instruction of properties under £185,000 is a lower percentage is due to the publics perception that our agency only deal with “expensive” homes. Will our fees be “higher” than other agencies? We are pleased to tell you, they are not!

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Our ethos, when we launched our business, was to provide “every seller with the opportunity to have the very best of service and presentation but with very much an “average” fee”.  

Last year one particular month saw us sell a home for £625,000 and another for £75,000. I am pleased to tell you that both sellers received the same level of service, the same quality of brochures and photography, accompanied viewings and full sales progression support. The most interesting point for myself was that the sellers of the Willenhall apartment reviewed our services on Google expressing there satisfaction.  They also stated they loved their home above and beyond that expressed by the sellers of the Detached home in Styvechale.

 

Truly every home is a castle and every seller deserves the best possible service. Nowhere does the legend state that they have to pay the most for it!