Price it right to sell within a rea­son­able time, then cre­ate a good first im­pres­sion

Weekend Argus (Saturday Edition) - - PROPERTY -

PEO­PLE who want to sell their homes within a rea­son­able amount of time and for the best pos­si­ble price will need to en­sure their price is mar­ket re­lated from the start.

An­nie van den Berg, of RE/MAX Wildlife Prop­er­ties, says one of the big­gest mis­takes sell­ers make is set­ting the price of their home out­side mar­ket-re­lated val­ues.

“Un­for­tu­nately many sell­ers have un­re­al­is­tic ex­pec­ta­tions when it comes to set­ting a price for their prop­erty due to their emo­tional at­tach­ment to their homes. How­ever, buy­ers don’t have the same view of the prop­erty and will in­stead be look­ing at the lo­ca­tion and fea­tures. Sell­ers may think in­flat­ing the price will give them room for ne­go­ti­a­tion, but they are ac­tu­ally just push­ing po­ten­tial buy­ers away and re­duc­ing their chances of sell­ing,” says Van den Berg.

“Over­pric­ing makes other homes in the area with sim­i­lar fea­tures look far more ap­peal­ing. In the buyer’s eyes the only thing that sep­a­rates the two would be the price. In fact, some buy­ers may not even bother view­ing the more ex­pen- sive home if they think the price is un­rea­son­able. Sell­ers who over­price their homes make cor­rectly priced prop­er­ties look like bar­gains.”

Adrian Goslett, chief ex­ec­u­tive of RE/MAX of South­ern Africa, says sta­tis­tics show that the longer a prop­erty is on the mar­ket, the wider the gap be­tween the listed and sell­ing price. “Homes on the mar­ket for longer than 24 weeks on av­er­age end up sell­ing for 10 per­cent less than their list­ing price,” says Goslett.

Van den Berg says ex­pe­ri­enced es­tate agents who spe- cialise in an area will be able to pro­vide sell­ers with data such as the prices of homes that were sold in the area over the past six months. This can be used to pro­vide sell­ers with a com­par­a­tive mar­ket anal­y­sis, which will help them to cor­rectly price their home.

“Once a home is priced cor­rectly, there are some things that sell­ers can do to cre­ate a g o o d f i r s t i mpres­sion t o im­prove their chances of a quick sale. Th­ese in­clude a fresh coat of paint and keep­ing the gar­den neat and tidy,” she says.

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