“Even when uncertain about land expropriation.”
Ida du Plooy
Harcourts Dolphin Coast.
Following President Cyril Ramaphosa’s announcement on Tuesday evening 31 July on national television on expropriation land without compensation , many property sellers are uncertain the effect this will have on the sale of their properties. This has especially been true in a poor housing market and recession, and also now with the added uncertainty of the amendment to the Constitution to expropriate land without compensation.
Here are some tips on how to sell your home fast:
In bad markets, price isn’t the main thing, it’s the only thing. There’s always an active market for houses that are selling for less than comparable houses in the same neighbourhood. In Ballito the time to sell most houses (especially the more upmarket houses) is measured in years not months. Yet many foreclosures sell within minutes of going on the market. Why? Because they’re cheap relative to other properties.
You may not be able to sell if your house is worth less than you owe on it but if you want to sell your house fast, you’re going to have to price it right. Your agent will help, but don’t just blindly follow their advice. Visit the competition to see what homes in your neighbourhood are actually listing and selling for.
But, what if you don’t like the price your agent suggests, your market justifies, or you need? Don’t sell. But don’t waste your time with a listing price based on what you paid, what you owe, what your home used to be worth or what you really wish it was worth. The only number that matters is what it’s actually worth to a buyer right now.
If you’re going to use an agent to help sell your house, start the search by asking friends and/or neighbours for referrals. Visit nearby open houses and meet agents (and while you’re at it, start getting a feel for neighbourhood values). Compile a list of potential good agents. Request that they present you with a written marketing plan on how they intend to market your property. Choose your agent and entrust them with your mandate to work with you. The saying that:” When you list with everyone, you are no one’s responsibility” is very true. An Exclusive mandate means that your agent will work exclusively for you. At Harcourts Dolphin Coast, we proudly offer a written Promise (Undertaking) and marketing plan to work for and with our sellers giving them every opportunity to present their home to the widest buying audience available.
The more fierce the competition, the better your house must look. The first thing people see is the outside: it’s called “curb appeal”.
So stand on your curb and see if your house has appeal relative to others in your neighbourhood. Clearing clutter, cleaning up, trimming bushes, stashing junk, and generally doing what you can with what’s “Free”. Look at the prettiest yards in your neighbourhood to compare your property to. Ask your friends and your agent for their opinions. Pay special attention to the pavement and front entrance. Paint your front door; put some flowers on the porch, etc. In short, your Mom wasn’t kidding when she talked about first impressions.
There’s a delicate line you walk when you sell a house. You want it to look like home, but not your home. Remove absolutely everything that’s not necessary. Remove family pictures from the wall and everywhere else. The goal is for potential buyers to see their own family there, not yours.
Rent a storage room and put every single thing you possibly can in it, other than just enough nice furnishings to make your house look inviting.
Paint is a good idea, but don’t get creative: off-white is best. Replace flooring if it’s got either style or wear issues, and make sure everything in the house works and looks as it should — no leaky taps, no cracks — and as with the outside, the trick is to balance cost and benefit. Whoever buys your home will have it inspected, and whatever’s not working is going to be discovered and you’ll be asked to pay for it. Save yourself the headache and pay for it now.
This is about selling fast, not painlessly. If you follow this advice, your house will definitely sell faster and for more money.
If you’ve followed all the advice above, you shouldn’t need to offer extra incentives to sell your house. However some incentives such as appliances or garden furniture, for example, will almost certainly result in more interest. So it’s something to consider. But incentives are” icing”, focus on the “cake”, by having the nicest looking lowest priced house in your neighbourhood.
Finally, smart investors know that the current property market offers excellent opportunities. Hopefully the Government will soon clarify their plans on expropriation while taking into consideration the consequences of a policy that can have a ripple effect throughout the entire economy.
The Bottom line:
At Harcourts Dolphin Coast we believe that property ownership is part of the cultural, social and economic future of South Africa. We are here to serve all the people of our nation with selling, buying or renting of property. Call us today!
Harcourts Dolphin Coast
11 Jack Powell Road, Ballito.
032 946 2331
Have you considered a career in Real Estate? Harcourts Dolphin Coast has vacancies for motivated self-driven agents. We offer FREE NQF4 and Logbook training. Call or e-mail for a private interview.