Audrey Wesseloo

When it comes to selling a home, every property owner dreams of securing the best possible price. Unfortunately, one of the most common mistakes sellers make is setting the price too high. While it might seem like a good idea to “test the market,” overpricing can backfire, leaving a home stuck on the market for months, attracting little interest, and eventually forcing the seller to accept less than fair value.

If you’ve ever tried to buy or sell a property in South Africa, you’ve likely encountered a flurry of paperwork, from certified IDs, proof of address, bank confirmations, and more. It might feel excessive at times, but all of it has a very important purpose. That’s where FICA comes in.

An estimated R1.78 quadrillion in wealth is predicted to change hands globally from Baby Boomers to younger generations in the next decade. Known as The Great Wealth Transfer, a majority of these estates will have a home that will change hands, and many inheritors, including adult children, will need to sell them. But as research suggests, these sellers may end up prioritising emotional return on investment (EROI) over price before making their next move and disrupting the transfer of wealth.