Again our speed of sale has put us in the number 1 spot in Coventry with a current average of just 7 weeks from promotion to sale!
After agreeing a sale on a large four bedroom Semi Detached house on Baginton Road, the owner, already very happy with the volume of offers received, was understandably delighted. This led me to value another property on Baginton Road and in doing so my research drew me to review asking prices and actual sale prices in the surrounding areas as well.
Armorial Road, where a recent sale of ours became one of the highest sold on the road in many years provided the Smoking Gun I needed. Since 2010 there have been 8 sales on the road with a mean average price of almost £375,000. In the same period the mean average asking price has been £420,000. At present there are properties for sale for £475,000 and £465,000. Not since October 2006 has a house sold on the road for over £450,000 and in the last three years sales have ranged between £280,000 and £440,000. The property we sold had been on the market with other agents for over 6 months at an asking price that was nowhere near correct. It was poorly marketed and overpriced. That is why it didn’t sell. The asking price was simply too high.
As purchasers you have the same access to property records on www.landregistry.gov.uk , www.rightmove.co.uk and www.nethouseprices.com as we do. Possibly more importantly, so do mortgage lenders! So when an agents wow’s you with a price that is above your expectations do a little research yourself too. You’d be amazed how may agents have a punt figure just to make you say yes. You’d also be amazed how many agents can earn commission’s without even selling your house and just listing them. It’s a bad trait and one that gives the industry a poor reputation. It will also lead to your house sitting on the market without interest whilst others may sell around you. Our website www.elizabethdavenport.co.uk carries google + reviews and www.allagents.co.uk also features really positive feedback form our venders and purchasers. We’d be delighted if you have the time to read a few!
Monday night’s “Dispatches” program on Channel 4 revealed some real problems in the Estate Agency industry, especially in regard to corporate and large chains of Estate Agents.
Sharp practices were revealed in the program with illegal methods of mortgage selling and many instances of not acting in the clients best interest. For thoses that didn’t see the documentary here are some of the problems that were uncovered:
Only allowing buyers to view a property if they bought a mortgage through the same Estate Agent. (this is illegal)
Only considering offers from buyers who took a mortgage product at the same time. (this is illegal)
Advising buyers to take out a buy-to-let mortgage when they intended to live in the property (this is illegal)
These practices occurred in environments where agents were pressurised by the company they worked for to achieve high sales targets and where commission based wages were in place. This is the typical set-up at corporate and large chain Estate Agencies.
So how as a seller or buyer do you avoid these pitfalls? By using a small independent Estate Agent that always acts in the clients’ best interests and where selling ancillary products is not a priority. At Elizabeth Davenport, our priority is to our client and our goal is to sell all of our properties for the maximum price possible. This can only be achieved by making the properties available to the widest audience possible (REMEMBER: the higher the demand, the higher the price.)
So don’t get caught out. If you want the best sales service or the best buying experience then give us a call today.
A common dilemma when moving home is juggling things into the correct order.
Should you find somewhere to move to first or find a buyer for your own place beforehand? Many homeowners call our office and say that they are scared to put their own property on sale until they have somewhere to move to. This is an understandable concern but trying to find somewhere to buy before you have sold is putting the cart before the horse. It simply won’t work and will lead to disappointment and frustration.
Firstly many estate agents simply won’t book you in to view any of their properties unless you have already agreed a sale. And even if they do, if you find something that you like then you will not be in a proceedable position and will miss out. After all, how can you possibly make an offer on your next property when you don’t know what your current one is going to sell for?
So the first thing to do is to get your own place on sale with a good estate agent that gets results fast. Look for an agent that has a high proportion of “Sold” stock (around 60% is excellent). Elizabeth Davenport currently have 66% of our stock Sold STC compared to other local agents that have as little as 10%.
Once we find you a buyer and accept an offer, you can begin your search in earnest. And don’t forget, ultimately if you can’t find anywhere to go to then you are not legally obliged to move until contracts are exchanged.
“When you want to sell the most valuable and emotional possession you own, you want the sale to be handled by professionals that you both trust and rely on. Every business has a “capacity” before it’s standards are compromised. Every business whether it sells children’s clothes, sandwiches or motor cars will reach a point where the standards to which they originally aspired, (and hopefully attained!) will be compromised. Unless the stock they have is sold or they employ more staff to facilitate the sale and management of it the employee’s cannot manage the portfolio of property they have promised to sell. At Elizabeth Davenport our sales statistics (please contact the office for the finer details!) show that 84% of our stock sells within 7 weeks with just over 50% sold within 4. This means our “stock” of property is a manageable one. It means we do not have property sitting redundant on the “shelf”. It means that we are always aware of what property we have for sale, at what price it is marketed and we have the knowledge of which potential buyers we have waiting. The ability to sell and market the property successfully is only possible if you have the correct volume of staff and facilities to do so. Is an agent with 200 properties for sale and 4 full time office staff more efficient than one with 30 for sale and 3 full time staff? This is where Size Does Count! Possibly not though in the way you might of thought it did!” By Mark Walmsley.
Nowadays, most Estate Agents have “Premier”, “Fine”, “Premium” or “Prestige” versions of their products for their best customers and their best properties.
This immediately begs the question – where does this leave the bulk of their “normal” paying customers. Because where premier assumes the very best, the opposite by default must be worst or poorest. So if you market your property with an agent and don’t qualify for their “Premier” version then by default you and your property have been ranked as second rate.
If your property doesn’t qualify for the “Fine & Happy” or the “Premier & Dandy” treatment then perhaps the implication is that it belongs to the “Dull & Dreary”, the “Cheap & Shoddy” or perhaps the “Coarse and Cr**py” collection??
At Elizabeth Davenport all of our customers and all of our properties are in the Premier Division. We don’t believe that any of our clients deserve a second rate service and all of our properties are marketed to their full potential. This means they all get the best photography, the best quality brochures, floorplans and marketing that they deserve. This means that not only do all of our clients receive a gold service but it also means that their properties sell quicker and for more money.
So does your property deserve the Elizabeth Davenport experience or is it in the second division? The answer I can assure you is yes, you deserve the ED experience. Because no property deserves to be in the second division.
There’s only two weeks left of our amazing £100 cash offer. We’ ve been overwhelmed by your response so far! Lots of homeowners have been clever enough to take up this great deal by switching estate agent to Elizabeth Davenport.
In case you’ve been visiting Mars for the last few weeks the offer is this: you switch agent and we give you £100 cash up front. Yes, that’s one hundred pounds straight into your pocket.
And the best part of the deal is, we guarantee to sell your property. So that means at the end of the 12 week agency period if we haven’t found you a buyer you can simply walk away with your £100. Its’ the least we can do.
Call our office today on 02476 010105 and arrange for your free appraisal with absolutely no obligation. Our experienced valuer will visit your property and give you honest, professional advice on where your sale is currently going wrong and explain what we can do to help. If you’re happy to go ahead then we give you £100 cash up front and then we market your property on a sole agency basis for 12 weeks.
But rest assured, we’re confident we’ll arrange a sale long before the end of the 12 weeks. Our average sale time is 7 weeks but over half of the properties we sell go in less than 4 weeks. So don’t miss out and pick up the phone today!
A question we get asked again and again is “What’s so different about Elizabeth Davenport Estate Agents?”
The simple answer is “Excellent Customer Service”. Our clients are the most important people in our business and so we treat them accordingly.
Only last week a prospective customer called me and asked “I don’t see why you will be any different to the rest?” She went on to explain that her property has been on sale for over 6 months with three different estate agents and she was at her wits end. The words she used to describe the other agents included “cowboys” and “insulting”. And these were well established, local, well known independent estate agents she had dealt with. What on earth had they been up to, to create such mistrust and animosity amongst their own clients?
The answer of course is “They Provided Poor Customer Service”. The lady in question had been given poor initial advice and then passed from pillar to post when her property couldn’t be sold. Ultimately she was let down and ignored. (If she is reading this article then I invite her to call our office back as we can definitely help).
In the three and a half years since our Coventry office opened a grand total of just 4 (yes that’s four!) former clients of ours have taken their business elsewhere and not a single one of them had a bad word to say about us. Even though we ultimately didn’t manage to sell those four properties, we still provided a satisfying customer experience and the clients all appreciated that.
So if you want a premium service then call us today on 02476 010105. If on the other hand you prefer “The Dukes of Hazard” then please turn the page…………….
Switch estate agent before the end of July and market your property with Elizabeth Davenport. Then we pay you £100. Yes, that’s not a mis-print, we pay you £100!
“But what’s the catch?” Of course there’s a catch. You will have to sign a 12 week sole agency contract and we will have to try really hard to sell your property. After all, having given you money for nothing we will be highly motivated to find you a buyer.
“What’s the risk?” The risk for you is that your property will be sold in the process! The risk for us is that we might lose £100 cash. But we’re so confident that we can sell your property, it’s a risk that we’re prepared to take.
“I’m still not sure. What do I have to lose?” £100 cash. Call 02476 010105 and take up this no-lose offer.
Offer Expires 31/07/13. See our website for full Ts & Cs.
Selling an empty property presents it’s own particular unique challenges.
A common scenario is when selling property from a deceased estate. This can be a very difficult time for relatives, faced with the prospect of sifting through personal belongings, clearing old furniture, and trying to prepare their loved ones property to go on to the market.
Often the property may be in a poor state of repair and their may be lots of clutter and stored items in attics and garages. Many clients tell me that they simply don’t know where to begin and they have little idea what to leave and what to throw away prior to putting the property on sale.
My advice is to clear as much of the clutter and personal items as possible but to leave basic items of furniture in each room (presuming they are in reasonable condition). Also leaving a few pictures on the wall (as long as they are not personal ones) will help to make the place feel a bit warmer and a bit more homely.
Emptying the home completely can leave it looking cold and barren. This can make it difficult to sell and also makes it exceptionally difficult to photograph. Potential buyers will be more attracted towards a picture of a Lounge with a sofa and a coffee table than they would towards a picture of the same room empty with no sense of purpose and just a couple of blank walls and a door to focus on. Maintaining the garden of an empty property is also an important consideration so it is definitely worth employing a gardener during the sale process.
For further advice on selling an empty home or any other kind of property call us today on 02476 010105.
Buying the cheapest product available is a poor choice in most given situations. Don’t get me wrong, everyone likes a bargain including me. But if we all just made our buying decisions based on price we’d be buying some pretty shoddy goods. The prospect of living in a cheap prefabricated house, going to work in a Reliant Robin car wearing a Primark suit and a plastic watch from Poundland, eating lentils and rice every mealtime, drinking Tesco Value champagne………………not a very enticing lifestyle is it?
In actual fact when you think about it very few people choose this lifestyle. Most of us aspire to buy expensive goods of a higher quality when we can possibly afford it. Most of us would choose a BMW over a Vauxhall Corsa or stay at the Ritz rather than at a Travelodge if our budget could possibly stretch that far.
So now that we’ve cleared that one up…………….WHY ON EARTH do some homeowners phone round all of the Estate Agents prior to going on sale and ask what fees will be charged with the sole intention of choosing the cheapest one to sell their most valuable asset?? Are they completely mad? An Estate Agent provides a personalised, professional service and the standard of that service can vary dramatically from one agent to the next. The better the service provided, the higher the price one can expect to achieve for one’s property and in the shortest time-frame.
So if you like your BMW’s then why not give us a ring today. If on the other hand you do all your shopping at Poundland then please save yourself the money on the phone call.