select
|

Get on the Net to maximise your chance of selling

“This is very clear,” says Berry Everitt, MD of the Chas Everitt International property group, “from the latest statistics released by the US National Association of Realtors (NAR) following its 2011 survey of more than 80 000 homebuyers.

“The results showed that while prospective homebuyers used multiple sources of information in their search for a property, far and away the most used sources were the Internet (88%) and estate agents (87%).

“What is more, the majority of home seekers (35%) went to the Internet as a first step in the search process, visiting property portals more than individual real estate company websites. Only 21% contacted an estate agent first, while 8% began by driving around their preferred areas looking for home for sale.”

Even more telling, he says, is the fact that 40% of the homebuyers surveyed by the NAR said they had found the home they actually ended up purchasing on the Internet, while 35% said they had found their property through an agent. Thus only 25% found their homes by other means.

“And although such exact statistics are not yet available for SA, we believe the preference for Internet searches is very similar, although print advertising does still have an important role to play here because easy and regular access to the Internet is somewhat less widespread among prospective buyers.”

Meanwhile, a just-released study by the Mortgage Bankers Association (MBA) shows to what extent buyers are still driving the market, despite a lack of access to finance.

Entitled “The Great Recession and Attitudes Towards Homebuying”, the study reveals that almost 80% of US households think that now is a good time to buy property, even though the country is battling high unemployment and slow economic growth, Everitt notes. Home sellers, on the other hand, are very negative about the market, with only 7% believing that this is a good time to sell.  

“The study also shows that the positive sentiment towards home buying is particularly strong among young, well-educated households and attributable mostly to low home prices and low home loan interest rates. And once again, we believe we have a very similar situation in SA, with lots of demand evident and a significant increase in sales only being curtailed at the moment by the difficulties many prospective buyers are experiencing in obtaining home loans.

“This suggests that sales will spike as soon as SA consumers have completed the process of cleaning up their credit records and cutting their debt loads, which many have already been doing diligently for the past few years.”



  Comment on this Article

  Please login to post comments

Post to my facebook wall
  
2000
Characters remaining


    Latest Property News
    • 20 Nov 2017
      Since 2012, sectional title complexes have been leading the South African property market, not only in terms of price growth, but sales volumes as well. Remaining relatively strong, even in the face of 2017’s political and economic turmoil, experts say this market segment could offer valuable insight into South Africans’ property purchase priorities.
    • 20 Nov 2017
      Regardless of whether you are purchasing your first start-up home, downsizing or moving in with roommates, finding ways to maximise small spaces can be a big advantage, says Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa.
    • 20 Nov 2017
      Property valued at approximately R1 billion is on High Street Auctions’ sales floor during the month of November, including the much-anticipated sale of the Tshwane Mayoral Residence and the land occupied by one of South Africa’s oldest operating gold mines.
    • 17 Nov 2017
      FWJK has announced the launch of its latest residential brand, the Lil’ Apple, which will be launched simultaneously in two developments in Cape Town and Umhlanga totaling 600 apartments. The Lil’ Apple is set to be a brand of FWJK’s New York style apartments which will be rolled out nationally.
    • 17 Nov 2017
      It’s been a tumultuous year on many fronts, with socio-political uncertainty setting the tone for much of South Africa’s economic activity yet despite this and seemingly counter-intuitively, the residential property market has held up well.
    • 17 Nov 2017
      The EAAB (the Estate Agency Affairs Board) recently claimed that around 50,000 illegal estate agents could currently be operating illegally.
    • 16 Nov 2017
      Penthouses are synonymous with New York – characterised by high-rise living that is decidedly luxurious and spacious. While exclusivity comes at a price, you can still create a “penthouse” look and feel in your existing apartment or even the upstairs bedroom of a double storey house with some clever design changes and styling touches.
    • 16 Nov 2017
      The area has long been popular with kite surfers and, with escalating property prices in Cape Town itself, is increasingly in demand with home owners who work in town, but are looking to invest in more affordable properties.
        
    X
    Subscribe to the MyProperty Newsletter

    Name  
    Last Name  
    Email Address  
    Email Frequency
    select
    X
    Share this Page

       
    For Sale Property
    Rental Property
    More Options
    About
    Connect with us
    FEEDBACK