Please note that you are using an outdated version of Internet Explorer which is not compatible with some elements of the site. We strongly urge you to update to a newer version for optimal browsing experience.

How to sell your property in a buyer’s market

23 Sep 2019

The property market has been a challenging one for sellers for some time now. Though strengthening, it is unlikely that the property market will come to favour sellers anytime within the immediate future.

Sellers who ensure that their listing is reaching the right people in the right way are less likely to experience difficulties when selling during a buyer's market.

Most suburbs can still be described as a buyer’s market where the number of homes on the market is much larger than the number of prospective buyers looking to buy within that suburb. This means that sellers are less likely to fetch their full asking price and are more likely to wait longer for their home to sell, says Regional Director and CEO of RE/MAX of Southern Africa, Adrian Goslett.

It is not, however, a lost cause for sellers over this period. Even in a challenging economy, the property market is still alive and active, says Goslett.

“Whether you just landed a new job that requires you to find a place closer to the office or a baby is on the way that requires you to find a place with an extra bedroom, the need to buy and sell property will continue to exist whatever the economic conditions. RE/MAX of Southern Africa continues to do well, reporting close to (and sometimes over) R2 billion in sales each month since February this year,” he says.

“Our sales figures prove that the market is by no means inactive, and that it is still possible to sell within this market.”

Below, RE/MAX of Southern Africa shares some tips on how to make sure your home sells in a buyer’s market:

1. Give your home a unique selling edge

The first place to start is to view similar listings on property portals and get an idea of what buyers could purchase in your suburb or within you complex that are near enough to your price point. If there is nothing that sets your house apart from the others, then either you will need to lower your asking price or renovate the space to ensure that it sells.

Check sold prices in your area here.

2. Make your listing stand out online

Sellers have about three seconds to grab a buyer’s attention before losing them to the endless sea of property listings. A striking online listing can help your home stand out among the thousands of other listings competing for buyers’ attention within this market.

To make a buyer want to view your home in person, be sure to spruce up the space before your agent arranges to have the listing photographs taken. Review the listing once it becomes active on the property portals to make sure that the most striking images appear first in the image gallery. Check that the listing description highlights the key features of your home and states all the information correctly and clearly.

3. Enlist the best in the business

Especially within this kind of market, a large portion of sales come from referrals and a real estate professional’s own database. Buyers might not be looking to move within this economy, but based on their relationship with their estate agent, they might hear about a new property that entices them to make the move.

According to Kevin Jacobs, Broker/Owner of RE/MAX Premier, sellers will need to partner with a reputable real estate professional with a solid track record of sales to make sure their listing reaches the correct people within this market.

As a final piece of advice, Goslett suggests that the trick to selling in this market lies with the marketing of your home.

Sellers who ensure that their listing is reaching the right people in the right way are less likely to experience difficulties during this period. If you want to sell your home in a highly competitive market, then you should partner with a brand that gives your home the competitive edge, he says.

Print Print
Top Articles
With rentals so high in Cape Town’s prime coastal strip, buying property often makes more financial sense than renting, with good buy-to-let opportunities for investors...

While it seems we have weathered the worst of the storm, the market decline has slowed and now is the time for property buyers and investors to act. Get the lowdown...

A pioneering partnership between Emira Property Fund and Beetle Busters, who’ve registered a treatment for the infestation, brings hope to saving our urban forests.

Loading

Your browser is out of date!

It looks like you are using an outdated version of Internet Explorer.

If you are using Internet Explorer 8 or higher, please verify that your Internet Explorer compatibility view settings are not enabled.

For the best browsing experience, update to the latest Version of Internet Explorer or try out Google Chrome or Mozilla Firefox.


Please contact our Property24 Support Team for further assistance. Tel. +27 (0)861 111 724