When it comes to excitement in relation to property, it is usually reserved for buying a property. What’s more exciting than purchasing your first property, or adding to a growing portfolio? It is, after all, an investment that attests to commitment and hard work, and in the case of many residential properties, the place that you and your family will call home.
READ: Real estate safety: Essential precautions for clients and agents
So while selling a property may be a type of second cousin in the property-excitement hierarchy, it is equally significant!
“The selling process, just like buying a property, should be approached with an open mind. Remember that the ultimate goal is always to sell the property at the best possible price in the shortest possible time,” says Giel Viljoen, Principal at Leapfrog Stellenbosch.
According to Viljoen there are four main considerations sellers should take note of:
Work with a professional
“Yes, of course the property professional is going to recommend working with a property agent!” Viljoen quips. But he goes on to explain that agents know both the market, and all the in’s and out’s of the selling process. Their very job is to make the process easier and more efficient for the seller.
One of the most common reasons people want to manage the sale of a property themselves is to save on the agent commission but property professionals are skilled negotiators so they work with the seller to ensure the best possible deal for all parties. And that’s to say nothing of the mountain of paperwork that they manage on the seller’s behalf.
READ: Are you having trouble selling your house? Try this…
According to the Seeff Property Group, (The role of a real estate agent : What you need to know) agents do not only sell or rent property on behalf of their clients, but also have their ear to the ground in terms of what current property values are, how much properties might sell for, and what is happening in the property market.
Always meet the agents in person before appointing them:
This will give you a chance to ask questions and assess the agents. Check how long they have operated in the area. Each area is different and local expertise is a vital point of advantage for any seller.
Look for a successful sales track record:
Ask for a list of their recent sales in the area, how long it took to sell, and the prices achieved. A strong sales record is an important indicator of the likelihood of success and that the agent could find the right buyer for the property.
A strong brand and network is another advantage:
An established brand will have a strong online presence for maximum exposure of your property backed by the latest technology and marketing and sales methodologies. They will use best practice to market and sell your property.
Look for someone who will assist every step of the way:
Selling a property is a complex process with many legalities to be taken care of. A good agent will explain the process and guide the seller to ensure they have all the necessary documents and maintenance done for an efficient selling process.
READ: Safety measures to consider when selling and letting homes
Get the price right
Setting yourself up for selling success has a great deal to do with finding the pricing sweet spot. “Ultimately, prevailing market conditions determine what a property sells at. Of course that is influenced by the state of the property, the location and various other factors,” Viljoen says.
He adds that pricing it too low(in relation to similar properties in the area) tends to make buyers think there is something wrong with the property, while overpricing simply means that it won’t draw buyers. “Remember, buyers have access to various online tools and portals so they know exactly what similar properties are priced at,” Viljoen explains.
A property professional (see above!) is a great resource in this regard, and can work with a seller to establish the best, most accurate asking price for a property.
Understand the cost of selling
If there’s one thing to take from Viljoen’s advice it is to make very sure that, as the seller, you understand the various costs associated with selling a property. From bond cancellation costs to compliance certificates and agent commission, just because you’re the seller doesn’t mean you won’t incur costs.
Put your best foot forward
Lastly but as importantly, make sure that when a potential buyer views your property, they see it in the best light.
Put some effort into staging your home but ensuring it is clean, light and clutter-free at the very least. “The old adage about not getting a second chance to make a first impression is particularly true when it comes to potential buyers viewing properties,” Viljoen concludes.
Want all the latest property news and curated hot property listings sent directly to your inbox? Register for Property24’s Hot Properties, Lifestyle and Weekly Property Trends newsletters or follow us on Twitter, Instagram or Facebook.
