Being prepared, understanding expectations, and knowing the process can help avoid delays and frustrations when selling your home.
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Antonie Goosen, founder and principal of Meridian Realty, says overpricing is one of the common pitfalls to avoid when selling your home in South Africa.
"Be careful to not overprice your property," says Goosen. "It's important to set a realistic asking price based on market research and comparable sales. Overpricing can deter potential buyers and prolong the selling process."
He also highlights the significance of property presentation. "Neglecting to prepare your home for sale can impact its appeal," Goosen explains. "Investing in repairs, decluttering, and staging can enhance its attractiveness to buyers."
According to Goosen, inadequate marketing can hinder the selling process. "Effective marketing is essential for reaching potential buyers," he advises. "Utilise online platforms, professional photography, and targeted advertising to showcase your property."
READ: 3 budget-friendly ways to up your home’s kerb appeal
Another mistake to avoid is neglecting legal and regulatory requirements. "Ensure compliance with local regulations and disclose any relevant information to potential buyers," Goosen emphasises. "Failing to do so can lead to legal complications and delays in the selling process."
He also cautions against being unprepared for negotiations. "Being flexible and open to negotiations is key," Goosen suggests. "Understand your bottom line and be prepared to negotiate terms with potential buyers to reach a mutually beneficial agreement."
In conclusion, Antonie Goosen underscores the importance of avoiding common mistakes such as overpricing, neglecting property presentation, inadequate marketing, overlooking legal requirements, and being unprepared for negotiations when selling your home in South Africa. By steering clear of these pitfalls, sellers can increase their chances of a successful and timely sale.
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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.
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The role of a good agent in getting your property sold as fast as possible, and for the best possible price cannot be overstated, says Samuel Seeff, chairman of Seeff. A bad agent could leave you with a lengthy and frustrating sale process.
Regardless of when you are selling, but especially in the current market, it is important to ensure you choose the right agent for your property and market. If you are not aware of who the best agents in your area are, ask around for recommendations from neighbours or friends.
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.
Choosing the right agent to sell your home cannot be over-emphasised, especially if you are selling right now as you will not want to waste time, says Seeff. Choose the right agent and ensure you follow their advice.
READ: How to determine the true market value of your home
Quay1 Regional Manager, Christine Marsh, says selling a home can be a complex process, and avoiding common mistakes is crucial to ensuring a successful sale. Here are some pitfalls to watch out for:
Overpricing: One of the most common mistakes is setting an unrealistic asking price. Overpricing can deter potential buyers and cause your home to sit on the market for an extended period. Conducting a comparative market analysis and consulting with a real estate agent can help you set a competitive price.
Neglecting Repairs and Staging: Failing to address necessary repairs and properly stage your home can negatively impact its appeal. Before listing, make sure to fix any noticeable issues, clean thoroughly, and consider staging to highlight your home's best features and create a welcoming atmosphere.
Inadequate Marketing: Effective marketing is essential for attracting buyers. Utilize high-quality photos, detailed descriptions, and various marketing channels, including online listings, social media, and open houses. A well-executed marketing plan can significantly increase your home's visibility and appeal.
Not Being Flexible with Showings: Limiting showing times or being inflexible with potential buyers' schedules can reduce the number of interested buyers. Be accommodating and make your home available for viewings as much as possible to increase your chances of finding the right buyer.
Skipping Professional Help: Selling a home involves numerous legal and logistical steps. Working with a qualified real estate agent, lawyer, and conveyancer can ensure that all aspects of the transaction are handled correctly, reducing the risk of errors and complications.
By avoiding these common mistakes, you can streamline the selling process and achieve a successful and profitable home sale.
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