How to avoid buyer’s fatigue in a seller’s market
Finding the perfect property can be challenging in any market, but even more so when the demand for properties outweighs the supply.
This currently describes many markets within SA, which can leave buyers feeling fatigued by the lengthy house-hunting process.
Adrian Goslett, regional director and CEO of RE/MAX of Southern Africa, explains that buyers will need to practice patience while waiting to find their dream home within the current market.
“The market continues to be incredibly active since the pandemic. For the RE/MAX SA network, it’s been over two years of record sales totals month after month; and this September was no different.
“In fact, in June, July, August and September, we recorded over R3bn in sales and R3b in registrations every month, which is unprecedented in our company’s history,” he said.
When the market is active, a shortage of listings naturally occurs.
This can make it more challenging and frustrating for buyers to find a home. Luckily, there are a few ways to avoid buyer’s fatigue within a seller’s market.
“One of the quickest ways for buyers to develop a sense of fatigue is to check listing portals and rely solely on one’s own ability to find the right home.
“Buyers can end up feeling despondent going through all the same options online every day but not seeing any new homes worth considering,” he said.
Instead of checking online every day, Goslett recommends setting up alerts so that you receive a notification whenever a new listing is loaded.
Listing portals and real estate company websites have great search facilities where you can tailor your search criteria. This can limit the amount of time you need to spend going through listings each day.
Apart from this, Goslett also encourages buyers to get a real estate agent involved to help them with their search.
“Many buyers are reluctant to contact an agent to search on their behalf.
“But agents often see new properties before the portals do.
“If you have partnered with a reliable real estate professional who understands your search criteria, allow them to search on your behalf to minimise the stress of being on constant alert for new listings.
“An agent might also be able to help you view a home before it even reaches the property portals, which will give you an unfair advantage over other buyers,” Goslett said.
Buyers should also go and view properties in person before ruling them out as an option.
“Listing photos can be deceiving. Buyers might be surprised when they walk into a property and see its true potential,” he said.