With interest rates remaining steady, there are many keen buyers in the market looking for the right property at the right price; and the right price doesn’t mean it has to be a bargain buy.
In a series of video interviews with real clients that forms part of Jawitz Properties’ new digital campaign, #ItsOurJawitzStory, homeowners speak about their experience in selling their homes in a matter of days – such as John and Marcelle. Deena Pitum, a Property Consultant at Jawitz Properties, who has a remarkable record for selling homes in seven days or less, or even before listing, says there are a few key tips that sellers should keep in mind when listing their properties if they are keen to sell.
1. Employ an Area Specialist
Pitum is adamant that the secret to success for sellers is to employ an agent who is an area specialist. Someone who has an extensive record of sales in that specific area or suburb and has intimate knowledge of the pricing, movement, and market forces at play. “When doing a valuation, I am confident enough to know what the values are. I’ve sold enough properties to have my own cost comparison reports to prove to sellers and buyers that the home is worth that money, and that’s the value of an area specialist,” says Pitum. Area specialists also have buyers on their books looking for homes in a specific location. “I have a list of trusted buyers looking for homes and when I go to list a new property, I have these buyers in my mind as I walk through it. I’m always considering how the home I am listing fits with the requirements of my buyers, and they trust me to know what their requirements are”.
2. Price your Property to Sell…not to Negotiate
Buyers are oftentimes as educated as the agents regarding the pricing of the market and are prepared to pay the full asking price if they see value in the home. The biggest mistake that is often made is listing the property too high online. Many buyers search in increments of R500k and if the property is listed just above that, it won’t come up in their alerts and won’t attract the right buyers.
“I listed a property worth R2,5m three days ago online for R2,495,000 and we secured seven solid buyers to view the home. After viewing, three buyers were interested in putting in an offer, and based on the interest received, we received a full asking price offer and signed. All done within three days,” explains Pitum.
“Sellers often think that they should market their properties at a higher price in case they get negotiated down but, instead, if you market your property at the correct price, there is no need to negotiate. You will attract the right buyer who recognises the value of your home. My experience proves that I don’t need to add on extra for negotiations. I price to sell not to haggle for money.”
3. Link your Property Price to Local Market Forces
It is about timing and knowing your market, says Pitum, another reason to employ an area specialist. If an area is low on stock, then the value of the property should reflect this. “To prove to buyers that the property in question is worth the price, agents should have stock available in the area to show as comparisons. If there is little stock available, multi-listing properties work well to show what you get compared to a well-priced one,” says Pitum.
“Sellers who want to sell their homes quickly will benefit enormously by using an experienced area specialist who can adapt to changing local conditions and price their homes correctly to sell and attract the right buyers,” concludes Pitum.
