Know your mar­ket be­fore set­ting a price

Business Day - Home Front - - NEWS -

You may know your own mind when you de­cide to sell your home, but do you know your own mar­ket? “One thing that is ab­so­lutely cer­tain in real es­tate is that noth­ing stays the same,” says Tjaart van der Walt, CEO of the RealNet es­tate agency group.

“When one part of the coun­try booms, an­other could quite well be los­ing pop­u­la­tion and real es­tate de­mand. And even very pop­u­lar sub­urbs can sud­denly be per­ceived as too pricey, caus­ing buy­ers to fo­cus their at­ten­tion on more af­ford­able ar­eas that then be­come re­vi­talised and re­ju­ve­nated in their turn. “So what is up may go down and what is down may go up and no mat­ter what the mar­ket con­di­tions were when you bought your prop­erty, they are very un­likely to be the same when you sell.” Even if your lo­cal mar­ket is cur­rently de­pressed, there will be a buyer for your home — pro­vided that it is pre­sented and priced right. “Now ev­ery­one knows that your best move in any mar­ket is to keep your home in good con­di­tion, but get­ting the ask­ing price just right for cur­rent con­di­tions is much more dif­fi­cult, and this is where your es­tate agent comes in.

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