Deadly sins of selling

While the property market conditions continue to improve and more buyers gain access to finance, sellers may still find that the market remains a challenging one in which to sell a home, says Adrian Goslett, CEO of RE/MAX of Southern Africa.

He adds that although some sellers may not have the luxury of choosing the market conditions in which they sell their home, there are certain deadly sins that sellers can avoid in order for them to sell their property for the best possible price, in the shortest possible time and not jeopardise the sale in any way.

Goslett gives five top tips for sellers to give them the best chance of selling their home:

1. Don’t choose just any estate agent

Goslett advises sellers to make sure they choose a knowledgeable estate agent with experience in the specific area in which the property is situated. It is important that the agent is from a reputable company, which will have the support of a large network.  The agent must also present the seller with a marketing plan for their property. “Some agents may not be able to offer the seller much, so they reduce their commission figure and inflate their estimation of the property just to get the mandate. While this might be appealing to some sellers, it will only hurt them in the long run,” says Goslett.

2. Not reading your contract before signing

Read all the points discussed in the contract with the real estate agent. It is important for sellers to be well-informed as to what they are legally binding themselves to and what they are responsible for, especially considering the various mandate options that are available. Not being aware of the terms and conditions in the contract and what a seller is responsible for in a property sale transaction, could be a costly lesson to learn.

3. Don’t overprice the property

Ironically, getting the highest possible price for your property is not achieved by listing it at an excessive price and negotiating down, but rather setting a market related price. An over ambitious price will simply push buyers away before they have even seen the property.   If a buyer can get a property in the same neighbourhood for less money, they will opt for that property over yours as they will feel like they are getting a bargain. Overpriced properties take longer to sell, and usually end up selling at an even lower price than if they were priced right to begin with.  The estate agent can provide a Comparative Market Analysis of the area to gauge the correct price the home should be marketed at.

4. Don’t forget to showcase the home

Nobody wants to buy a house that is not well maintained and is dirty. Make sure that the home looks at its best for show day. This means making necessary repairs and ensuring that everything works and looks presentable. Goslett says that if a home is not clean and tidy, potential buyers will more than likely be distracted by the mess rather than the features of the home. Buyers would rather pay more for a home that has been looked after, than purchase a home in need of repair and attention. “It might be worthwhile for sellers to have their carpets professionally cleaned before putting their home on the market, this will add to the appeal of the home and leave it smelling great,” says Goslett.

5. Don’t be home on show day

Many buyers will feel like they are unable to freely roam around the property if the owner is at home. Goslett says that even if the seller is accommodating and friendly, buyers will still not feel as if they can take their time and explore the home at ease. He advises sellers to rather leave the show day hosting to their estate agent.

“If sellers want to sell their home successfully, they will not only have to work hand- in-hand with an experienced agent, but also do what needs to be done from their side.  It is important for sellers look at their property objectively and see what can be done to improve the chances of the sale of their property becoming a reality. An aesthetically pleasing home that is well-maintained and priced correctly, will appeal to far more buyers than an over-priced home in need of repair,” Goslett concludes.

  Comment on this Article

  Please login to post comments

Post to my facebook wall
Characters remaining

    Latest Property News
    • 22 Nov 2017
      While sales have noticeably slowed in most sectors in most Cape town suburbs, the security estate sector in Constantiaberg has bucked the trend by remaining buoyant, with sales by August this year already surpassing total sales in 2016.
    • 22 Nov 2017
      The end of the year is fast approaching, and so are all the travellers, tourists and holidaymakers. For those who live near or own a property in a holiday-hotspot, the festive season also brings with it an abundance of short-term rental opportunities. Its a great way for property owners to make a few extra rand for their own holidays or to put towards their savings.
    • 21 Nov 2017
      The buying process is over, and the moving truck has delivered your household goods to your new property. Now it’s time to unpack and turn your new house into a home.
    • 21 Nov 2017
      When an offer to purchase a property is signed by both buyer and seller, this constitutes a binding agreement or “Deed of Sale” between the two parties. However, in most cases the “standard contract” might not be enough to cover all the specifics pertaining to the sale. The agreement may require some additions or alterations to clauses, which needs an expert hand in the drafting of such
    • 21 Nov 2017
      As more and more South Africans look to invest in property abroad, Spain is offering them one of the best deals in global real estate.
    • 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.
    Subscribe to the MyProperty Newsletter

    Last Name  
    Email Address  
    Email Frequency
    Share this Page

    For Sale Property
    Rental Property
    More Options
    Connect with us