Prepare for Selling
Mar 16th, 2007 by Johan
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You decided to sell your property: What now?
The moment you decide to sell your property you are faced with “lack of information.” Because you lack information you may mistrust the estate agents, you may think that they are out to sell your house as soon as possible, for the lowest possible price. This concern creates a mindset that can influence how much you get for your property and how long it takes to sell.
One of the principles overlooked by most home owners is that buyers decide what a home will sell for and when it will sell. Therefore focus all your attention on the buyers and ensure that they feel your home is a scares product. This means that you and your estate agent must create competition within the limited buyers’ pool. Please do not create competition in the estate agents pool - this normally happens with an open mandate.
When you decide to sell you property, check out the next 12 points and
- Compare your outstanding bond with asking price. If your bond is close to your asking price you may have problems selling your home through estate agents.
- Decide how you want to sell your property: a private listing, auction or through estate agents.
- How urgently do you need to sell your property? This will help the estate agent to establish how to market your property. Most agents know that a seller must be motivated to sell and an urgent seller is motivated. Agents will spend more time and effort on a motivated seller.
- Visit show houses in your area, scan newspapers and the internet for similar homes and compare prices.
- Come to terms with the following elements of a property transaction and who is responsible;
a. The condition of the home (you)
b. The selling terms (you)
c. The motivation to sell (you)
d. The asking price (you)
e. Effective marketing (estate agent) - Only work with estate agents who can tell you how many properties are for sale, how many properties were sold last month, give you the annual growth rate for properties in your area and give you the index price. This will give you a good indication of what you can get for your home. If an agent cannot give you a comparative market analysis they’re not worth working on your property.
- Create competition between buyers and not between estate agents. By giving an estate agent a sole mandate we at SimonsTownRealty.Info believe you can get more for your property. Employ one top agent who will be responsible for your property, you will get protection under the estate agent’s code of conduct and you’ll not be liable for double commissions.
- Qualify your estate agent before you select, get their CV, get their marketing plan and discuss your situation and plans with the agent. Only select somebody that you feel comfortable with working on your property.
- Give your chosen agent a sole mandate, if you have no other choice an open mandate but limit the amount of agents working on your property.
- Discuss you requirements in depth with the agent, be sure there is a mutual understanding and then allow the agent to get on with the job.
- Ask the agent for a written procedure on how they will give feedback to you.
- Ask the estate agent for their written satisfaction guarantee, a copy of a valid Fidelity Fund Certificate, the estate agent’s code of conduct and proof that they adhere to F.I.C.A.
Our advice to you is free. Make use of it - today. Because; being informed is cheaper than ignorance.
Wishing you well
Johan Horak
www.SimonsTownRealty.Info Your property wise advisor
P.S. “I would rather turn you down today than let you down later”
Cell: (027)082 870 2004
Cell: (027) 082 955 6464
Fax: (027) 086 512 0274
ProMO SimonsTownRealty: Phone today at 021-7864028 or 082 870 2004 if you want to sell a Simon’s Town house, want to “a house to buy in Simon’s Town” or if you want FREE Real Estate advice.
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