The desires and expectations of hopeful buyers should not be underestimated when it comes to selling your house.

This is according to Absa’s senior economist, Jacques du Toit, who adds that the buyers’ belief, anticipation and expectation introduce a speculative element in the formation of price. “This is reflected in a heated market or ‘boom time’, where vendors can set inflated prices – and buyers are forced to purchase at these prices. On the opposite side of the coin, during a cooling period, buyers have more realistic choices and prices become more competitive.”

“When the market heats up, for most people it becomes a matter of buying as soon as possible. This is when many desired factors such as the right bathroom colour, a particular shape of swimming pool or the shrubs in the garden may become downplayed in the eagerness to seal a deal. Thus consumer choice varies dramatically with the market,” Du Toit said.

In determining what will be paid for a house, there are three physical contributing factors, namely the micro-location, such as a quiet street and proximity to schools, the macro-location, such as if it is situated in a waterside suburb versus the inner city, and the quality of the house and grounds.

“Different buyers will rate these factors according to their own preferences. The micro-location is subject to change, such as if a jail or a public park is built nearby. Physical factors, such as eagerness to buy, also play an important role in driving house prices.”

Certain locational attributes which influence price include distance to the city centre, if it is within a cul-de-sac, near a park, school, the area of land parcel and topographic information.

The location of a property can also bring about additional factors such as exposure to severe weather, or a breathtaking view. “Susceptibility to severe weather would detract from a property’s appeal, yet a fabulous view would enhance it.”

Bantry Bay is known for being protected from the Cape’s notorious wind, while certain parts of Cape Town’s southern suburbs often experience rain due to their proximity to the mountain.

A housing purchase for most buyers is expensive and risky, and, more often than not, buyers lack experience due to the infrequency of purchase.

Simple changes can instantly change the way people perceive your home. While home staging consultants charge thousands and are too expensive for most home sellers to consider, there are basic tips which sellers can follow to ensure a “SOLD” board is erected outside their property as soon as possible.

These include ensuring the outside of the house is appealing as it will make buyers eager to see the inside as well.

Plant flowers to brighten up your garden, and mow the lawn because a well-groomed garden shows pride of ownership. Keep porches and railings in good repair – you don’t want a prospective buyer tripping up a step on their way into your house.

“Look at your home through the eyes of the buyer. Just like everyone else, buyers are lazy and don’t want to take on large projects after moving into a house.”

Carol Reynolds, Pam Golding Properties (PGP) area principal in Durban North and La Lucia, says a neutral palette always appeals to the widest possible market, so muted earth tones and a fresh coat of paint can do wonders for a home.

“We also advise sellers to remove clutter and to make their homes as light as possible. Before viewings, open doors, windows and curtains, turn on lights in dark rooms, and generally create a light, warm ambience as opposed to leaving a home dark and stuffy.

“Plants can also improve a facade, and since curb appeal cannot be underestimated, attractive pot plants at the entrance of a home will create a good first impression. The idea is to catch the largest buyer pool possible, so the home needs to look good from the road and appeal to the widest possible market.”

She says the biggest pre-conceived idea that buyers have at the moment is that all sellers are very negotiable. “Buyers will try and put in cheeky offers, and unless these offers are market-related, they will be rejected. It’s a catch 22, because a lot of sellers are overpriced, and the key is to find a fair market value that ensures a happy buyer and a happy seller.

“Buyers are very selective at the moment, and they are expecting to find homes that tick all the right boxes, and this is a near impossible expectation to meet. Essentially, buyers should be prepared to spend a small amount of money personalising their new home and adding the unique finishing touches that they require. Most homes have one or two negative features, but buyers should not allow the negative to outweigh the positives.”

She says most astute buyers who’ve been in the marketplace already and are second or third time buyers are happy to buy fixer-uppers, but it all depends on personal circumstances. “Where timing is an issue then a home that needs no work is still the best option. I would never advise a seller to undergo extensive renovations to upgrade a home to go to market, as buyers have their own unique taste. It is better to do small inexpensive cosmetics like buying a few plants and keeping the home neat and tidy.” – Eugene Brink

Readers' Comments Have a comment about this article? Email us now.