The current property market is interesting in that it is a tale of two markets.
Those properties that are under R1.5 million where the market is very active and prices are still trending upwards and the top of the range properties over R3 million where demand is slow and the prices are dropping.
Whatever market you are in, when you decide to sell you need to get your price right.
To do this you need professional advice.
Estate agents have access to information on recent sales of similar properties in your area and these statistics are the basis on which you should price your home.
If a two-bedroom apartment in your building is selling between R400 000 and R450 000, pricing your place at R550 000 is just putting it out of range.
There are a whole range of reasons why people pay specific prices for specific properties and why no two similar properties receive the same offers.
This could include its condition.
The same flat that is neater and more modern will receive higher offers.
Even how people live – are they tidy or untidy and how nice the furniture and curtains look can make a real difference in the price that they receive.
One flat may have a better view, get more sun, have a garden or have a garage instead of a carport.
All these factors make a difference.
How good your agent is also can make a difference.
So getting your price right when you put your property on the market is essential.
You can also help to get a better price.
Having a spring clean and throwing out clutter makes your property look bigger and better.
Replacing a few inexpensive old light fittings and plug covers makes your home look better.
Many houses smell! Yes they do. Smoke, cats and dogs.
Carpet and curtain cleaning and a bit of vanilla essence in a hot oven can make a massive difference to the feel of a home.
Fixing up the garden can pay dividends.
Taking out wild trees and planting a few pansies can make a huge difference, especially if they are at the front of your building.
They just make your home look happier when the prospective buyer first sees them.
Your attitude also makes it more or less difficult to sell a home.
A miserable owner hanging around while a buyer is looking can be a real turn-off.
The same applies to a difficult tenant who does not want to receive notice to vacate.
They can both insert negatives into the conversation that puts off buyers: “Did you know that the neighbours have six kids and they keep making such a racket that you cannot sleep!”
Yes, if you are serious about selling, make sure you use a professional sales agent who will help you prepare your property and get the best price for it.
- Mike Spencer is the founder and owner of Platinum Global. He is also a professional associated property valuer and consultant with work across the country as well as Eastern Europe and Australia.