Advice To Sellers In Flattening Property Market

What goes up must come down and property booms are no exception. This last property boom lasted a few good years and has left a remarkable foot print behind. “Some property booms end in disaster; however, I do not forecast that our last property boom is going to end that way. The market will, as is already evident, taper off and slow down,” says Linda Erasmus, CEO of Fine & Country South Africa.

 

Erasmus goes on to explain that it is still far from the end for property owners as they can still sell their properties for more than they paid when the boom started. She advises sellers to take the following points into consideration.

 

  • Do you have a good reason to sell or move? If not, this is not the time to test the market. Otherwise, you may go ahead and evaluate your property taking into account what properties were sold for a year ago.
  • Remember that it could take longer to sell your property and accept the fact that the market is now a buyer’s market where “cash is king”.
  • DIY is not the way to go in this market. You need good marketing to attract the best buyer for your home and in addition you need a capable salesperson that is able to deliver an exceptional service to clients.

 

The National Credit Act has cut down on the number of buyers who will qualify to buy your home. So when you receive an offer from a buyer who is not only willing but also able to buy your home – consider the offer seriously as it may be the last one you receive with terms and conditions as favourable.

 

The ultimate exercise for any seller is not to look purely at the price but always ask your self the question ‘what does this offer allow me to do?’ Can I do what I had planned to do when I first put the house on the market?  Ultimately, will you still be able to execute your plan even with a little less money in your pocket.

 

The market can still provide good opportunities for both buyers and sellers if they look hard enough and it is advised that one should utilise the services of professional agents to serve your best interests.

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