Simon’s Town Property Trends & 5 Pointers To Consider Before You Sell
March 27, 2008 – 11:51 am | by JohanNew Here? You’re Invited To Simon’s Town News Updates Subscribe here.
Sellers in Simon’s Town are slowly getting the message that the property boom is over, at least for the time being
But it’s not all bad news looking at the trends. Let’s consider the average discount, the time to sell and the average selling price of Simon’s Town property (source RPPR.co.za):
- The average discount given before the average Simon’s Town house sold during 2007 was 9.4% compared to 8.3% for the last three months.
- The real good news is that Simon’s Town homes are now selling a lot faster….at a cost. It’s not at 11 weeks vs. the 19 weeks for 2007).
- During 2007 real estate in Simon’s Town sold, on average, for R2.02 million. For the last 3 months the average selling price is down by 7.8%. You can find more stats on your suburb here: Simon’s Town Suburbs Trends: Averages For Properties Sold
Read this article on mistakes and assumptions regarding average value.
Let’s look at the 5 pointers to consider before you sell your house.
- Inviting Many Cooks To Prepare One Broth: Can you imagine 4 cooks preparing one broth. Without getting into a long story, I believe you’ll get a pot of bland soup. Because none of these cooks will take responsibility. They are not accountable and will not spend money and initiative. The same is true when you open your home to many real estate agents.
- Adding Fat To The Fire - Price To Negotiate vs. Price To Sell: Many sellers believe they need to add negotiation fat because everyone negotiates. This is a myth and it hurts the seller. The fact is that everyone negotiates but it’s easier to negotiate up. By price-to-sell you expose your home to buyers who can stretch their pockets to buy today. But when you add fat your home does not get marketed to the real buyers.
- “I am a Jack Russell:” Some Simon’s Town home sellers are testing the market because “they are not in a hurry to sell” They add fat and go for the “wait and see” attitude. But real estate agents are in the business to make money and when they meet a Jack Russell they get bored. In the meantime the Jack Russell becomes committed and needs to sell. And what happens then? Due to agents- and buyers stale perception of the home the owner is, many times, forced to sell the home for less than market value.
- The Delilah Factor: Give it to Me At All Cost. Most sellers are only exposed to real estate selling once very 5 to 10 years but agents are there all the time and the unaware sellers need to be aware.Let’s assume Mrs. Honest Agent tells you that your property should sell for R3.5 million. But you want more. Then Delilah arrives and asks you what you want. She will most definitely agree with your R4 million. And you obviously like Delilah. And when she asks for a three month sole mandate you sign the bottom line. Now Delilah can trim your hair when and how much she wants.Alternative: “We rather turn you down today then let you down tomorrow”.
Although we use this as our motto there are other good real estate agents in Simon’s Town who agree with it. And you need to select real estate agents that have the guts to walk away from any Delilah deals. - Lack Of Real Estate Knowledge:
Where is the first contact made with real estate buyers? “About three out of four buyers today use the Internet to search for homes, and those using the Internet are more likely to work with a professional than those who do not,” said Cathy Whatley at Realtor.Org. And research indicates that the Internet search trend for real estate is upward. It’s easy.This is why SimonsTownRealy.Info has decided to create a dominating Simon’s Town presence on the Internet to attract people who are searching for real estate. SimonsTownRealtyRankInGoogle, SimonsTownRealtyRankInYahoo, SimonsTownRealtyRankInYahoo2and3
Using a knowledgeable real estate agent: This agent must be able to show that he/she is an expert. An expert with regards to selling trends in the community.
- But what about the other one person (out four) who walks past a real estate agency?We have addressed our visibility by publishing a world renowned newspaper called Coffee News. This free weekly newspaper will be available from next week in most of the Simon’s Town restaurants and to home owners. You’ll love this free news to amuse newspaper.
Ok. You have made it and are still reading. Let me thank you. I am honoured.
To conclude:
I noted in a book, published by the Historical Society, that Simon’s Town was once different and today it’s a town of real estate agents. True.
It’s therefore that Elmarie and I decided to get your permission to send you real estate news. We want to create a relationship with you….even if you are not in the market to sell property.
We want you to know and like and trust us so that we can be there for you the day you or your friends are ready to buy or sell.
And lastly if you know of someone who wants to buy or sell a home in Simon’s Town or if you just want friendly but honest real estate advice contact us anytime at 021 786 4028 or 082 870 2004 / 082 955 6464.
Remember: We will rather turn you down today then let you down tomorrow 
Best Regards
Johan and Elmarie Horak
SimonsTownRealty: Sell, Buy A Simon’s Town Property? Phone Today 021-7864028 or 082 870 2004
How Do You Care For Your Second Home When You Are From Out Of Town? Ask The Local Eye To Take Care.
Loading ...
Add New Comment
Thanks. Your comment is awaiting approval by a moderator.
Do you already have an account? Log in and claim this comment.
Add New Comment
Trackbacks
(Trackback URL)