Summer is here bringing more buyer activity, but be sure to work with the right agent
Category Property Tips
Although Cape Town is the most sought-after real estate market in the country, it has not escaped the impact of the higher interest rate. Conditions are now more challenging compared to the last two years with the market largely tilted in favour of buyers.
With fewer buyers and more stock to choose from, selling prices are coming under pressure. That said, mortgage lending conditions remain at the best levels in over a decade. We continue seeing good buyer activity
Property in our areas remain in high demand, and we anticipate an uptick in buyer enquiries over the summer as many buyers may look to finalise their property move before the new year. With only about 1 in 4 properties listed on the market currently selling, things are a little tougher for sellers.
In this market, working with the right agent can make the difference between a sale and your property lingering on the market. Sellers should guard against wasting valuable time and work with the right agent from the onset. Such an agent will be experienced in selling properties just like yours in a challenging market.
Before appointing an estate agent, sellers should ask a few pertinent questions. These include checking that the agent is registered with the PPRA, how long they have operated in the area, and ask to see a list of their recent sales and how look it took to achieve those sales.
Sellers should also ask how they will market the property and what tools they will be using. Testimonials or references from other sellers can also provide evidence that the agent can deliver a successful transaction. The agent should also be supported by a back office to take care of the entire transaction process from start to finishes.
How the agent will communicate and provide feedback and status updates during the selling process is also important. Asking these key questions can help you assess the estate agent's expertise, reliability, and suitability for your specific property needs, ensuring a more successful and satisfactory experience.
Working with a Seeff agent, sellers benefit from nearly six decades of market leading real estate expertise. This is backed by a strong back-office system to take care of all legalities and administration of the transaction from start to finish.
Sellers get the best advice on the correct pricing strategy for the current market conditions using a fact-based Comparative Market Analysis which compares sold prices of similar properties. As experienced and skilled negotiators, we often achieve better prices compared to the market.
We also often sell properties much faster than the rest of the market. A key benefit is our database of qualified buyers, and given our experience, we often already have the right type of buyer in mind as soon as we see the property.
Seeff agents know how to market the property to reach as many potential buyers in the shortest time possible. This includes the latest digital marketing strategies such as the property portals and broad online and social media syndication for maximum reach.
Using our experience, we also provide guidance to sellers on how to best present their properties to buyers during viewings and show days so that buyers are immediately drawn to the property and cannot find any negatives or reasons to discount your price.
Our experience enables us to assist sellers in their consideration of offers to purchase and to guide them on whether to accept or counter offer.
Finally, in this market, sellers need to be flexible and open-minded. Remember, awarding a Sole Mandate offers immense benefits. It is a contract with the seller to focus all our marketing and activities on getting the property sold in the shortest time for the best possible price.
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Author: Gina Meintjes
