SELLING
description of the house within property portal parameters .
Goosen agrees and says , “ Your virtual listing needs to stand out and the added touch of professional photography and videography can attract more potential buyers . If you are skilled in this field , then this will stand you in good stead . Many private sellers do not have a database of potential buyers so their listing must stand out both visually and in description .”
Getting the price right
Private sellers might arrive at a price for their property based on purchasing a report from Lightstone , looking at properties for sale on property portals and arriving at an average figure from there , says Malan .
However , arriving at the best price often requires experience in the market and knowledge of actual properties in the area . Agents typically possess this experience through years of working in an area and knowledge of what the interior and exterior of previously sold houses are like as well as the trajectory of sales in the area .
“ Private sellers must do their homework to arrive at the most competitive price for their property ,” says Goosen . “ This is not impossible ,” he says , “ But things like location , safety , redone bathrooms and kitchens and general upkeep , must be considered and compared between properties in the area ”.
Divergent needs
Malan points out that there is an inherent tension between the buyer and seller , each wishing to advance or their own needs and wants . This is natural , as each party wants to get the best deal out of the sale . Malan says , even though he is an estate agent by trade , when he sold his own properties , he opted to use an agent to facilitate the process . He points out that some people considering selling privately might be put off by having to deal with tension , drive negotiations and possibly deal with conflict .
53 APRIL / MAY 2023 SA Real Estate Investor Magazine