Team Talk
Property Talk
By Marc van Heerden
For Sale by Owner—Will It Work?
The internet has led to several adaptions in different business area and the Real Estate sector has had
positive contributions by means of information access. As of late there are Hybrid Real Estate
companies that are making it possible for Owners to sell their own property.
Knowledge:
A Realtor comes with a wealth of knowledge to ensure you get the best possible price for your
property. A Realtor applies sales techniques and interviews Buyers before they are brought to a
property. In many instances there is a pre-existing relationship between the Buyer and the Realtor
meaning that they are identified and are “safe clients” from a financial and a security point of view. As
a Owner you have limited information with regards to actual sale value vs. what has sold. There is
also the security risk of not knowing who is coming through your door. You will also have no prior
history of their financial well-being, potentially exposing you and your family.
Disruption:
A Realtor would be able to set-up appointments and manage Show Houses while the Seller is
spending time with their family. If the Owner was to stake clients through then it would remain an
issue as calls would need to be fielded at odd hours and appointments set at random times. There
would also be no supporting material such as brochures and property information available to the
Buyer unless the Seller was in a position to create one.
Negotiation:
One of the most difficult areas of the transaction is the negotiation. As a Seller a home represents
safety and a place where memories are made. For a Buyer, their objective is to start off on the best
possible foot with the property and often start low until a happy medium is attained in price between
Buyer and Seller. This can be a pitfall from several points; 1) Emotions can cloud the Sellers
judgement of a good offer, 2) Frustrations can be raised between Buyer and Seller as no happy
medium can be reached, 3) Errors on contract once a final number is reached can result in legal
complications.
In summary there are several factors influencing a sale of a property; aspects such as legal and para-
legal knowledge, marketing facilities and media reach, finance knowledge, disclosures with regards to
the Consumer Protection Act in order to avoid legal issues post sale, after-sale knowledge and
communication.
Handy Tips
· Information is available and self- service initiatives are available with limited support
· Bear in mind the risk as Owner Seller
For more advice on property options and the
due process of buying,
selling and investing…
Contact us on...
Marc van Heerden
Cell: 073 198 9369
Tel: 041 360 0365
[email protected]
www.sothebysrealty.co.za
Each office is independently
owned and operated
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Luke 18:27
“But He said, "The things that are impossible with people are possible with God."