Real Estate Investor Magazine July/ Aug 2020 July 2020 | Page 30

SELLING
Savvy seller
Tactics to make sure your property sells
MIKE SPENCE
L
ots and lots of people want to sell their properties.
Some are suffering from tenants that cannot or won’t
pay. Some are trying to liquidate so that they have more
loose cash. Some people have lost their jobs and are worried
how they are going to pay their bonds.
I see plenty of property being listed every day, many of
them only to have their prices cut when they do not sell.
Considering average family incomes in South Africa and
today’s current interest rates for bonds, we are looking at a
buying price of between R850,000 and R950,000. There are
not many homes on the market at that price!
Just about every property is coming on the market at
R1,500,000 to R2,500,000 million and many for far more. Is
it any wonder that properties are not selling or that we had
over 60 enquiries on the house that we were able to offer at
R650,000, despite its poor state?
What I am trying to say, is that if you are serious about
selling your home, you need to be serious about the price
that you are asking. The price must be right. Your price must
be competitive when compared to similar properties and
you must do everything that you can to make your property
more attractive than the next property at the same price. I
would say that you need to be 10% cheaper and 10% better
in today’s ultra-tough market. This is especially true the
higher the price of your property. Those with R3 million plus
properties have a huge hurdle to overcome.
All the normal things still apply. Simplify – clear the
clutter inside and out. Dump the stuff you are going to
dump anyway. An uncluttered property always looks
more attractive than an overfull or cluttered one. Clear the
garden, clear the garage, clear the house. Buyers do not
appreciate teenage posters on walls or tired bathrooms, or
cluttered kitchens.
Be serious about selling. Do not put your house on to the
market until you are ready to sell. If you do you will tend
to over-price and are likely to have to under-price to get
it to sell at the end of the day. Buyers know about houses
that have been on the market for more than three month
and “know” that there is something wrong with them.
While having a for sale board outside is a really great way of
getting your property sold, having 6 boards outside is just
telling everyone that you can’t sell it.
A good agent will work with you, not against you. A good
agent will give you good advice, even if you will not always
like what they are telling you – they will always be able to
back it up with facts and logic. Good agents will say NO. If
they feel that you are not ready to sell, or your price is not
right, or even that there are better alternatives, they may
say NO. Good agents are always ready to give advice and
guidance and look after your interests rather than theirs.
Remember, they only get paid if they are successful.
26 JULY/AUGUST 2020 SA Real Estate Investor Magazine