PROPERTY NEWS - Although it is possible that the property market might strengthen this year, many suburbs can still be described as being in a buyer's market where supply is high and demand is low.
In other words, sellers are more likely to wait longer for their home to sell given current market conditions.
According to regional director and CEO of RE/MAX of Southern Africa, Adrian Goslett, this situation is likely to endure until the elections have come to pass in May 2019, as many have adopted a "wait and see" approach to investing into the local economy. "For those who need to sell their homes quickly over this period, whether they are emigrating soon or simply need the funds to purchase a new property before the suspensive condition on their OTP expires, I would recommend that they recruit an experienced and knowledgeable agent from a reputable brand whose resources can be tapped into to ensure that their home has the best chances of selling in a buyer's market," says Goslett.
Below are some of Goslett's tips for selling fast in a slow market:
Sign a sole mandate
Many sellers have the misconception that the more agents you have marketing your home, the better your chances are that it will sell.
In fact, having a property listed with more than one agent decreases an agent's motivation to work as hard as they can to sell the property. But, when signing a sole mandate, you've given an agent a time frame in which to sell your property, at the end of which they might lose the commission to another agent - and nothing acts as better motivation for an agent to work as hard as they possibly can than the idea of losing their earnings to another agent.
Enlist the best in the business
If you were in a serious legal battle, you would want an attorney from the number one law firm at your side. Similarly, if you want to sell your home fast, then you're going to want to partner with a sales associate from the number one brand in real estate.
Do whatever it takes
If you're serious about selling fast in a slow market, then you need to trust the advice of a seasoned professional in the industry. If you've partnered with a real estate professional with a proven track record of this kind of sale, then you ought to trust the advice he or she gives you when it comes to the marketing of your home. Whether they advise that you repaint a room, declutter a space, drop the price, or simply ask you to leave the house for a viewing, Goslett recommends that you follow their advice and allow them to do what you've hired them to do - which is to sell your home in the fastest amount of time and as close to full value as possible.
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