Give your home that million-plus polish

Thousands of buyers are out hunting for upgrade properties worth more than R1m at the moment, but sellers who want their attention need to present right as well as price right.
So says Lew Geffen, chairman of Sotheby’s International Realty in SA, who says that while low interest rates and rising consumer confidence in the property market have substantially boosted interest and activity in recent months, “there is still a lot of competition for buyer attention, and owners of R1m-plus properties who want the best possible price need to ensure that their homes have great curb appeal.

This immaculate Bryanston home is on sale through Sotheby’s International Realty. Set on a stand of approximately 2000sqm, it offers three bedrooms and two bathrooms, open plan living areas, a loft TV lounge, double garage, pool and gazebo. The asking price is R3,5m.

“And this is especially true in the mid-range of the market our company serves – which is homes priced from R2m to R4m.”
The fact remains, he says, that for most buyers coming out of a market that has been depressed for almost five years, there is a big psychological difference between R999 000 and R1m or more.“There is still something about a seven-figure price tag that makes them look hard for added value or future savings - and we have noticed that this value consciousness is even more pronounced when buyers are moving up from a home in the R1m to R2m bracket to one priced at more than R2m.”
Of course first impressions are vital when a seller is trying to persuade potential buyers to break through such a  ceiling, Geffen says, “so it is really worth paying attention to the details of presentation before putting a property on show”.
For example, he says, the paintwork inside and out should be perfect. “Even if the house has to be completely repainted, it will cost the seller less than the amount a potential buyer will inevitably want to deduct from the asking price to get the job done himself.”
Secondly, the setting of the house should be immaculate. “Every rand spent to get the garden and pool in mint condition is likely to be worth several thousand when it comes to negotiating price.”
In addition, to please modern buyers, sellers must do their utmost to create the impression of light and space indoors by getting rid of clutter, heavy furnishings and elaborate window dressings.
However, says Geffen, all this work will have been wasted if the seller does not market his home correctly. And the key to this is to grant a sole mandate to an expert agent who can maximise the exposure of an upmarket house to the most likely potential buyers,without attracting undue attention from curiosity seekers.
“We are aware that many wealthy sellers have security or privacy fears when it comes to holding a show day or advertising their properties, but real visibility in themarketplace, so that genuine prospective buyers can ‘see and touch’ the value being offered remains the critical element in a successful sale.”

  Comment on this Article

  Please login to post comments

Post to my facebook wall
Characters remaining

    Latest Property News
    • 24 Apr 2018
      The thing about the property ladder is that at some point in our lives we all have reason to want to climb a rung or two higher. Sometimes, it’s because we’ve outgrown our previous dream home, or because we want to be in a better neighbourhood that’s closer to work or to schools. Sometimes it’s because our circumstances have changed, and we’re taking care of elderly parents or relatives. Sometimes, it’s just because we want a property that reflects the financial status our hard work has won.
    • 20 Apr 2018
      Whenever changes in the political ecosystem of a traditional property market create uncertainty, smart investors begin to look elsewhere for new opportunities. Property experts at IP Global have analysed the trends and crunched the numbers to find new markets to explore in Europe and the United States.
    • 20 Apr 2018
      Energy and water self-sufficiency are increasingly important factors in home buyers’ choice of property – especially in Cape Town where the extreme drought of the past few years has made municipal supply costly as well as uncertain.
    • 19 Apr 2018
      During the last decade, rampant development has progressively transformed Cape Town’s property landscape with densification being the order of the day, but there are still one or two hidden gems like Scarborough which have retained their original character, offering an inimitable lifestyle and an attractive investment opportunity.
    • 19 Apr 2018
      The rental market is a cut-throat sector of the real estate market that waits for nobody. According to Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa, first-time renters need to be fully prepared before they even start the process of looking for a place to rent in order to avoid the disappointment of losing out on their ideal property.
    • 19 Apr 2018
      Choosing to buy your first home instead of continuing to rent is a big decision that will usually take some time to put into action, but the sooner you can save up a sizeable deposit, the closer you will be to reaching your goal.
    • 18 Apr 2018
      Selling your home is no small task and as you will quickly find out, there are a lot of misconceptions about the process. Gerhard van der Linde, Seeff's MD in Pretoria East lists the top 5 misconceptions when you are selling your home.
    • 18 Apr 2018
      The Cape Town municipality is now installing water-management devices at properties that have been non-compliant with the new level 5 water restrictions and there are talks of fines between R5,000 and R10,000 for households that use too much water.
    Subscribe to the MyProperty Newsletter

    Last Name  
    Email Address  
    Email Frequency
    Share this Page

    For Sale Property
    Rental Property
    More Options
    Connect with us