select
|

Tips to attract multiple offers in today’s competitive real estate market

Homeowners who plan to sell their property this year may find the conditions slightly more to their liking than what we have seen over the past few years, says Adrian Goslett, CEO of RE/MAX of Southern Africa.
 
“Various factors will come into play and have a positive impact on the housing market over the next 12 months,” says Goslett. “While we have seen favourable conditions for buyers over the last while, we could see the market shifting towards sellers in 2014, with the numbers of property available to buyers lessening. According to both Absa and FNB property reports, residential building activity has been under pressure and the number of new homes being built has dropped. This, coupled with fewer existing homes on the market, could give rise to more sellers attracting multiple offers on their property. However, that said, just because it is a possibility, doesn’t mean it’s a guarantee. It is still important that sellers are aware that we are in a competitive real estate market and buyers want the best value for money that they can find. Sellers must be prepared and present their homes in the best possible manner to give themselves the best chance of garnering not just one offer, but several.”
 
Goslett notes that there are a few things that sellers can do to ensure that their home stands out from the competition and appeals to as many serious buyers as possible:
 
Correct pricing

Correct pricing is always going to be the number one factor that draws buyers to a property, especially if the buyer has been researching the market and knows the fair market value of property in the area. “Buyers take into consideration many factors when looking for a property, such as its location and features, but a property that is priced correctly is more likely to appeal to a wider range of buyers, which is more likely to result in multiple offers,” says Goslett.

It would be advantageous to find out what other properties in your area are selling for. You can do an online property search by using a radius or draw-a-search function to find properties for sale in your vicinity. 
 
Curb appeal

Goslett says that the right price will bring buyers to the property, but curb appeal is what will get them through the front door. “Sellers are more likely to attract multiple offers if their home is in good condition and is aesthetically pleasing to look at. It is especially important that the front entrance looks attractive, as this will be the buyers’ first impression of the home and set the tone for the rest of the viewing. Buyers want to purchase a property that they feel has been maintained and looked after,” says Goslett.
 
Good repair and condition

Most buyers are looking for a property that requires the least amount of work to make it liveable, so it’s important that sellers pay attention to the little details and ensure that everything is in good repair. The seller must make sure that any broken windows or roof tiles are replaced and walls that are faded, chipped or dirty are repainted. A new coat of paint will make a huge difference to the overall look and feel of the home as it will appear fresher and cleaner. Minor work and inexpensive improvements could give a seller the edge over other properties in the area and make their home much more appealing to buyers walking through the door.
 
Set the stage

Staging a home is about removing clutter and rearranging furniture to best showcase the room. It is also a good idea to de-personalise the home by removing family photos and other memorabilia in the home that could distract the buyer from the features of the home itself. “Homes without a lot of clutter and unnecessary items will have a positive impact on buyers. The idea is to make the rooms feel larger and more airy. Where possible also allow natural light into the home, keeping it as bright as possible,” says Goslett.
 
Work with the right agent

A professional, fully-qualified estate agent from a reputable agency can be an invaluable asset for sellers wanting to market their property to the right buyers. “A good real estate agent will have an in-depth market knowledge, resources and the ability to value a property at its true, market-related value, as well as ensure that the property is marketed to the right target audience with maximum exposure,” says Goslett. “This will all increase the odds of attracting multiple offers.”

Find the right estate agent for you by using our find an estate agent function
 
There will be advantages for homeowners wanting to sell their property during 2014, but it is up to them to ensure that their home has the best chance of being sold. “Buyers are best likely to respond to a property that is correctly priced and in a good condition, so sellers will need to make sure they are prepared to do their bit to maximise their home’s appeal,” Goslett concludes.


  Comment on this Article

  Please login to post comments

Post to my facebook wall
  
2000
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.
        
    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