This may help if you are still struggling to sell your property?
Category Property Tips
Despite the interest rate hike, the interest rate remains at the pre-pandemic levels while the banks are still lending, and often on favourable terms. We continue seeing strong buyer interest and the market remains active.
Properties continue selling daily and there is still excellent demand in the market. If your property is still on the market, there may be simple reasons why you are not getting an offer or concluding a sale.
Reasons could include:
Perhaps you are not working with the right area agent. Despite digital advancements, agents are still responsible for 95% of all property sales. Always appoint an agent who can demonstrate their track record and sales to you. That will be your assurance of the best advice and guidance.
Using too many agents is a waste of time unfortunately. Experience has shown that using multiple agents will not result in a faster sale or higher price. Agents focus their attention on the Sole Mandates which is why this is your best option for success.
Price is often a main reason for not attracting offers. The asking price must be set at a realistic level when compared to other similar properties in the area. Always compare actual sales and not list prices which are often too high.
Is your property in a good sellable condition? If the property is poorly maintained or the buyer spots something wrong, it could mean that they would rather look at other properties in the area. It also gives them a reason to look to discount your price.
Too many extras on a property can also be a reason why it is just not selling. Overspending on improvements and additions is always a risk. Buyers in an area usually look for particular types of properties and may not always want to pay for extra "nice to haves".
There may be too many properties on the market which are similar to what you are offering. If stock levels are high, it often means that buyers have a wider choice, and they will then look for the property which offers the best value for the price.
Not considering serious offers might also be a reason for your property simply not selling. It is always advisable to remain amenable to negotiable because there is often a deal to be made. This is where the skill and guidance of a local area agent is vital. They will not risk their reputation on poor offer.
Overlooking good terms could also be why your property is not selling. Favourable terms such as a cash offer with no conditions could mean a quick transfer process whereas if you wait for a higher priced offer, it might not come any time soon and you could lose during a good market phase.
Finally, you should always look to work with a well established property brand with a strong marketing strategy aimed at promoting the property through the best channels to ensure it attracts as many prospective buyers as possible.
Home is our Story and property our passion. If you are still struggling to sell, why not give us a chance. Sales success is a combination of skills and systems and with a track record of over five decades of success, you are in good hands with Seeff.
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Author: Gina Meintjes
