When negotiating the best price for your real estate, it is important to realise that the negotiation process entails more than just setting the price. Selling your home is a careful process of planning, preparation and execution.
Planning Whether selling a family home or a holiday home, it is important to know your market. Property prices in South Africa differ across regions. For example, Llandudno's average selling price is R7.1 million, Plettenberg Bay is R3 million, and Knysna is R2.5 million. Search the Internet, read local newspapers and attend open-house showings to see what your neighbours are selling and at which prices.
Also, make an honest assessment of your home to see what needs to be repaired or enhanced. Try to determine which features will sell your home quickly, such as colour and landscaping.
Preparing Inside your house:
Ensure that the stove, refrigerator, sink and floors in the kitchen are spotless and gleaming.
Make sure that the bathroom is neat, sparkling clean and fresh.
Repair all dripping taps.
Make sure all the lights work.
Oil all door hinges.
Tighten all doorknobs.
Replace any missing keys.
Pack all cupboards neatly to avoid the impression that they may be too small.
Remove unnecessary items from rooms to make them as spacious as possible.
On the outside:
Cut the grass
Weed the garden
Remove any rubble
Paint, wash, and clean up the outside of the building
Ensure that your pavement is appealing
Compare your landscaping to others in your neighbourhood and plant some flowers and grass if you have to
Don’t be afraid to call in professionals for help. The money spent will be well worth the rewards.
Executing When selling your home in South Africa, it is important to be aware of the costs involved. It is best to ask your real estate agent for advice about issues such as commission rates, transfer fees and capital gains tax.
Also discuss with your estate agent the best way to market your property. When advertising your house, certain advertising keywords are more effective than others. So make sure that the best features of your home are presented in the best way.
According to a study, the word “beautiful” reduces selling time by an average of 15% and increases the selling price by approximately 5%. The term “landscaping” reduces the selling time by 20% and increases the selling price by 6%. On the other hand, buyers don’t respond well to emotional appeals, such as “owner relocating”.
