Overpricing Costs South African Homeowners Time and Money, New MyProperty Report Finds

South African homeowners risk losing both time and value when they overprice their properties, according to the newly released MyProperty Sentiment Index 2025. The report, based on feedback from over 200 estate agents, reveals that over 75% of homes end up selling below the asking price — and in many cases only after extended delays.

“Overpricing isn’t just ‘testing the market’ — it delays your sale, erodes trust, and often results in the property selling for less than if it had been priced fairly upfront,” says Adriaan Grové, CEO and Founder of MyProperty and Entegral.

The report highlights that:

• 88% of agents encounter overpriced listings frequently.

• 67% believe overpricing significantly undermines buyer trust.

• Mid-market properties are the most prone to unrealistic seller expectations.

Grové notes that while sellers are often influenced by what they see online, buyers are becoming more informed and resistant to inflated prices. “Buyers quickly reject overpriced listings. They wait for reductions and then negotiate further — meaning sellers end up worse off,” he says.

The consequences stretch beyond individual transactions. Overpricing undermines trust in the property market and lengthens the average time a home spends on the market — currently about 12 weeks.

“Our aim with the MyProperty Sentiment Index is to educate homeowners and improve transparency,” Grové explains. “By trusting the data and working with experienced agents, sellers can attract serious buyers faster and achieve better results.”

The report urges sellers to seek comparative market analyses, interview more than one agent, and resist the temptation to chase inflated prices.

To view the full report, please visit www.myproperty.co.za/tools/property-index, or click here for a direct download.