Tips for Speedy Property Sales
Category Sellers Guide
Selling a property in South Africa can be challenging in the current buyer's market, but there are strategies to expedite the process.
South African property sellers face significant hurdles due to economic strain, including an increase in bad debts reported by financial service providers. With the repo rate at a 15-year high of 8.25%, many individuals are compelled to sell their properties. However, the prevailing conditions favour buyers, making it crucial for sellers to act swiftly, particularly if driven by financial obligations.
Property professionals advises against delay, emphasising the urgency in selling properties amidst a scarcity of potential buyers. To facilitate a quick sale, experts offer straightforward advice:
Price Competitively:
While expectations of future interest rate drops may stimulate buyer demand, there's no anticipation of significant price increases in 2024. To attract buyers amidst financial constraints, consider adjusting the listing price. Basil Moraitis from Pam Golding underscores the effectiveness of reducing the price to generate quality leads and prevent prolonged market exposure.
Enhance Property Appeal:
Present your property in its best light by decluttering and minimizing personalization. Curb appeal is crucial, and therefor beneficial to consider refreshing the property with a coat of paint, tidying the garden, and enhancing the entrance with pot plants. Given that buyers often explore properties online, it's essential to ensure the property's attractiveness both in terms of price and appearance.
Here are a few budget-friendly ways to improve your curb appeal.
Flexible Viewings:
Accommodate potential buyers by being flexible with viewing schedules. Recognize that buyers may have limited time and may need to view the property outside of conventional working hours.
Read more on why we recommend the in-person Show House.
Ensure Compliance and Documentation:
Complete necessary compliances and repairs upfront to prepare the property for sale and transfer. Seeff advises prioritizing essential installations such as water, electricity, gas, and solar systems, along with ensuring the functionality of amenities like swimming pools and electric fences. Additionally, gather all required documents in advance, including approved plans, house rules, and personal identification of property owners, to streamline the sales process.
Have a look at why these compliance certificates are important.
By implementing these strategies and proactively addressing buyer concerns, sellers can enhance their chances of selling a property swiftly in South Africa's competitive real estate landscape.
For more information on selling your property, get in contact with our team of professionals at Louw & Coetzee Properties: 021 976 2730.
Author: Louw & Coetzee Properties
