Making the best choice when it comes to selling your property

Despite our volatile political landscape and the uncertainty of the Rand, investors are still present and keen to buy property. “Investors are seeing the value in placing their money in bricks and mortar in areas with a rising market, which may be seen as a more stable investment than putting money offshore or into other asset classes,” says Harold Kolnik of Jawitz Properties South Peninsula. 

“Property is generally speaking, a several year-long investment, and the amount of interest we are seeing from buyers indicates that this medium-to-long-term asset is an appealing and viable option, despite any macro-economic uncertainty.”

There are still opportunities for good returns on investment, be it selling in a few years for a profit, or in the form of enjoying a passive income when renting property out. “This is very popular. ‘Airbnb’ has actually become a verb – home owners are saying they want to ‘Airbnb their properties’, and there is substantial appetite from investors to be on the property ladder to do just the same,” Kolnik says.

So if you are sitting on the fence about selling, be assured that now is still a good time to sell as demand is still influencing favourable prices. “But be prudent about how you go about selecting an agent to list and market your property,” he adds. 

Your home is often your biggest and most valuable asset, so it is imperative to approach this process with great care when the time comes to sell. The fool proof way to go about it is to firstly use a reputable agent with a proven and successful track record who you can trust implicitly to have your best interests at heart at all times throughout the entire process.

There are many chancers and fly by night agents and agencies who set up business in a buoyant market promising the earth and a very low commission. Be very wary as this should be your last consideration when appointing an agent or agency.  “Successful property practitioners do not need to cut brokerages to attract clients and usually have great traction and market share in the areas they serve. They will also have the necessary skills and required legal knowledge to safeguard your most valued asset. Their broad marketing capabilities will encompass a large database of buyers, a proven effective marketing network that is both web and print based, as well as a trusted, recognised brand name with years of successful experience,” Kolnik says.

Working with a top agency might involve slightly higher fees, but often your home will be sold much quicker and usually at a higher price because of the agencies superior infrastructure and the agent’s expertise in negotiating and closing the deal. “This service will also include knowledgeable pricing of your home in line with what the market will actually pay.”

A common ruse used by non-ethical property practitioners is to significantly overprice your home to lure gullible sellers into granting them long mandates. This practice often stigmatises the property and could delay the sale by as much as six to nine months before the correction finally takes place. The Consumer Protection Act insists on full disclosure of all latent and patent defects, yet using an inexperienced agent could expose you as an ill-informed seller to costly litigation and the cancellation of the sale.

“Because of these factors we always advise sellers that an exclusive mandate is the best route to take. This tried and tested method is the way most property in South Africa is successfully sold,” Kolnik 

  Comment on this Article

  Please login to post comments

Post to my facebook wall
Characters remaining

    Latest Property News
    • 22 Feb 2018
      An excellent credit score is one of the most priceless assets a potential home buyer can have. This tool has the power to secure favorable mortgage and refinancing rate, influencing everything from the size of the loan repayment to the interest rate on the home loan.
    • 22 Feb 2018
      What do you do if you love your home’s location and the area, but the home no longer fits your growing family’s needs? Do you stay and renovate your existing home or find a home that meets your developing criteria?
    • 22 Feb 2018
      While every owner wants to sell their property at the best possible price, overpricing a home can be the kiss of death for a sale.
    • 21 Feb 2018
      Given the hand they were dealt, government has performed a delicate balancing act which it is hoped will serve to reignite confidence in investment in South Africa, regain our global credibility and satisfy the credit ratings agencies, says Dr Andrew Golding, chief executive of the Pam Golding Property group.
    • 21 Feb 2018
      The real estate mantra, ‘location, location, location’ remains a strong market influence regardless of the prevailing economy, with suburbs like Rondebosch enjoying the buffering benefit of being ideally situated.
    • 21 Feb 2018
      These days most buyers are using online property portals like Private Property when house hunting due to the convenience, up to date information and variety on offer. “The property portals have revolutionised the way buyers shop, but they do need to be cautious – viewing photos online is no replacement for viewing the property in person,” says Bruce Swain, CEO of Leapfrog Property Group.
    • 20 Feb 2018
      Owning a home is a milestone that most South Africans aspire to. Becoming a homeowner is a step towards growing personal wealth and owning an asset that appreciates in value over time, provided of course that the correct principles are applied during the buying stage of the process, says Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa.
    • 20 Feb 2018
      The suburb of Greenstone in Johannesburg east came to be over the last two decades. “In the beginning, it was literally just a hill with not so much as a shopping centre,” says Michael Levy, Property Consultant at Jawitz Properties Bedfordview. Today it has plenty shopping facilities and is fully built, boasting high-density, upmarket housing and residential estates, though still has a few pockets poised for commercial development.
    Subscribe to the MyProperty Newsletter

    Last Name  
    Email Address  
    Email Frequency
    Share this Page

    For Sale Property
    Rental Property
    More Options
    Connect with us