Selling a property for the full asking price

Selling a property for the full asking price

Category News

With the interest rate having hit a 50-year low in 2020, many South African families are considering moving into a bigger house or semigrating to another part of the country. In many cases, this means they need to sell their current homes and if there's one thing that all sellers have in common, it's a desire to get their full asking price. The Seeff property experts provide the lowdown on asking prices and everything you need to know.

First things first: set your asking price correctly

The first step in the process of selling your property is having an agent provide you with a valuation. After considering your home and what it has to offer, the property market in your area and the wider economic concerns affecting the country as a whole, the agent will provide you with a figure. That figure should be the amount that you put your property on the market for. You may have had a different idea about your property's worth, but some of the best advice we can give you about any property transaction is to price your property correctly from the start.

Thanks to all the property market information that's available online, people looking to buy property are savvy and they know what they should be paying for a property. If your property is overpriced, it will simply be overlooked. Once a property has been on the market for some time, it becomes old news and browsers are left wondering why your property is still on the market. On a similar note, it's better to avoid changing your asking price once your property has been on the market for a while because this gives the impression that it was overpriced to start with.

Another important thing to think about is that, when searching for property online, many would-be buyers search in increments of R500 000. That means that if your property is listed at R1 500 000, it will not come up in a search for properties between R1 000 000 and R1 499 999. However, if your property had been priced at R1 495 000, it would have potentially been seen by more prospective buyers shopping in that price bracket.

Make sure your property is looking its very best

In a nutshell, the less a would-be buyer feels that they will need to renovate, repaint or refinish before they move in, the more likely they are to offer you your asking price. By ensuring that there are no faded ceilings, no chipped paint and no cupboard doors with missing doorknobs - to provide just a few examples - you can create a home that looks worthy of its asking price. If you have made any additions to your home, ensure that all the necessary planning approvals are on hand so that you can reassure your would-be buyer that everything is in order and no further work will be needed.

Enlist the services of an area specialist

Finding the right real estate agent is a key step for sellers wanting to get their asking price. The agent that you work with should have a great track record of property sales in your area. He or she should also be experienced and have a thorough understanding of the market forces at play in the property market. The other big advantage of using an agent is that he or she will have prospective buyers on their books who are looking for property in your area. If your home ticks all the boxes for one of these would-be buyers, then selling your property for your asking price could be quick and simple.

Seeff real estate agents have the industry knowledge, the years of experience and the market savvy required to take the stress out of the process of selling your property for your asking price. By working with us to establish the right asking price and getting your home looking as good as possible without going to great expense, you can sell your home with confidence. Contact us for more information.

Author: Seeff