The average property owner sells a property usually only three to four times during their lifetime and when they do, it may cause some anxiety. You want proper returns on your investment as soon as possible, but you also worry about how the market will react to your home. Property.CoZa would like you to consider the following frequently asked questions:
In short, no. Selling property is one of life’s most significant steps and, similar to undergoing a medical procedure, you need a professional who understands the industry and knows the pitfalls. Save yourself unnecessary stress and mistakes that could come at a high price – choose a reputable real estate agency to look out for you at all times.
There are a number of reasons why we suggest that you use a professional real estate agency:
Firstly, you can choose between an exclusive (sole) or open mandate when selling your property. A sole or exclusive mandate means that only one agent has the right to advertise and market your property. An open mandate means that multiple estate agents can market your property.
No. Experience has shown that if you market a property at the right price, the outcome spells success. Buyers who want to buy in your area will, in most cases, do research on the major property websites for your area and automatically visit show houses. There is only one pool of buyers, and they contact all the active agencies in a specified area to help them obtain the right property.
No. The more agents marketing your property, the less committed they will be because they feel their chances of selling your property is slimmer. Too many ‘For Sale’ boards in front of a property also indicates a desperate seller; potential buyers often think they can make a much lower offer.
You will need a skilled estate agent to complete a written Comparative Market Analysis (CMA) on your property. By compiling a CMA, your estate agent will be able to determine a fair asking price for your property, taking into consideration the market trends, value of similar properties and given the broader economic landscape at the time. We base our asking price on statistics (obtained from the deeds office) of registered properties as well as current properties on the market in your area, which are competing with your property, in order for buyers to compare “apples with apples”. It is dangerous to over-price your property, as this may lead to the property not selling and potential buyers eventually believing that there is something wrong with your home. Under-pricing on the other hand, causes you to lose out financially on what is supposed to be a great investment.
Once a buyer has indicated commitment to buying your property, a challenging journey begins. Luckily, when you use an experienced, reputable Property.CoZa agency the process is largely simplified. Your estate agent will guide you through the negotiation process all the way to the conclusion of the sale, the legal and administrative process and will keep you up to speed on the progress of your transaction until completion. With Property.CoZa you will have our full support right until the very last stage of the process.
Here are more pointers to consider:
As a seller, remember to budget for the following expenses:
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