Category Archives: Our Estate Agents

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!

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That’s it then! Summer’s over but all’s not lost and being well an Indian Summer will soon begin!

Our Warwick Row office has been open for just over 13 months now and has also seen our sales performance grow by over 150%. This cannot happen successfully without one vital and often overlooked ingredient. Staff. 

This week we are proud to have employed Georgina D’Arcy who brings with her a wealth of Estate Agency, Administration and Accounts experience. Prior to Georgina we placed ourself in the enviable position of working with Greg Irish an experienced Financial Advisor and Estate Agent who although based at our office can be made available for home visits whenever our clients require (Within reason of course, he’s got a life too you know.) Prior to Greg, another team member with Estate Agency experience, Nicki Page, had been employed to support Yvonne Haywood in one of our most important public facing roles. That’s not all. We have also commandeered the approachable and multi tasking Craig Emmerton who not only undertakes viewings in a genuinely helpful manner (Rather than with a  “just opening the door” and “feel free to have a look around” mentality which seems to be industry commonplace) but  also takes responsibility for the painting and erection of our Sign Boards. Then there’s George and Me. Elizabeth, well I’ll can tell you about her when we meet.

Please don’t just take our word for it. You can’t keep selling houses successfully without the right support and good staff are what any business needs to retain it’s quality of service. Our reviews on www.allagents.co.uk and google say it much more succinctly than we do! Please have a look when you are thinking about which agent you’d like to work with. They can be very revealing!

Join our Winning Estate Agency!

WINNING FORMULA:  HAPPY STAFF = PRODUCTIVE STAFF = BETTER RESULTS = HAPPY CUSTOMERSWinning Medals

As sales volumes increase with the ever-improving housing market, Elizabeth Davenport is expanding it’s operations and requires both new properties to sell and at the same time requires an experienced office supervisor/senior negotiator to fit into their expanding operations. The successful candidate will bring with them several years in the industry and a track record of successful sales experience.

At Elizabeth Davenport our staff are well rewarded for their efforts, meaning they are highly motivated and this leads to better sales results and more satisfied customers whose properties sell quickly and for full market value due to a combination of unsurpassed marketing material and also expert valuation processes.

Our branch at 23 Warwick Row has a happy, relaxed atmosphere which creates the perfect environment for efficiency and seamless processes. This reflects on both our staff and our customers, who continually leave positive feedback following the services they receive from us.

To arrange for a free valuation of your property or to apply for a role in our growing operation please call our Warwick Row office on 02476 010105.