Heed These Experts’ Tips When Selling Your Property

On selling your property, you will naturally aim to get the highest price you can, while any potential buyers will try to negotiate as low a price as possible. Three real estate experts offer tips on how you can achieve an optimal result.

Samuel Seeff, chairman of the Seeff Property Group, says a skilled estate agent will determine the correct listing price to ensure a successful sale and be in a position to negotiate the best possible outcome for the seller and the buyer.

Seeff says that, while you may be tempted to save money by doing without the services of an estate agent, there are major risks in selling a home by yourself. “DIY selling is onerous, buyers are often not vetted, and you could end up having to enlist the help of an agent in any event,” he says.

Common mistakes

• Outpricing the property. “Overpricing is generally the leading cause for a property not selling. Buyers have access to a plethora of online property listings and can quickly identify and skip over those appearing to be priced too high for the market. A higher asking price seldom results in a higher offer, and could result in an even lower selling price,” Seeff says.

• Becoming too involved in the sale. “Every seller believes their property is worth more, especially if they have invested time and money in the property. Custom features and elaborate finishes, however, might not result in a higher price. View the sale as a business transaction and take emotion out of the deal. It is also best not to be present during the viewings, as it tends to make buyers uncomfortable. Rather trust the agent to act in your best interests.”

• Dismissing a quick offer and waiting for a better one. “A quick offer may mean that the price is at the right level or the market is more active. Often, the agent already has a database of ready buyers. Dismissing it out of fear that the agent is just trying to make a quick sale could risk not getting another offer, or a higher price. It is therefore always recommended that sellers should consider all serious offers,” Seeff says.

Information is key

Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa, says sellers can benefit if they prepare for the sale by, with the help of an agent, gaining as much information as they can about the market and about potential buyers.

First, they need to know the local market conditions and understand local property trends, including average price per square metre and recent comparable sales. “This gives sellers the ability to know a cheeky offer from a fair one,” Goslett says.

Sellers should also find out a bit more about the person on the other side of the offer. “It’s important to know if the buyer can meet the commitments so that the deal doesn’t fall through. Having pre-approval for home finance gives buyers greater financial credibility, so it is worth considering these offers more carefully than those who make offers without pre-approval,” Goslett says .

Understanding the buyer’s urgency can be a powerful tool in negotiations. “If a buyer is pressed for time, a seller may hold firm on price while offering flexible terms,” he says.

The best deals are those where both sides feel heard, respected, and satisfied with the result, Goslett says.

Timing and costs

Paul Stevens, CEO of Just Property raises two more points sellers need to consider: the timing of the sale and the additional costs you need to budget for.

In considering when to sell, Stevens says you need to take into account the current state of the market in your area and even the time of year. “If you have flexibility and an appreciating suburb, waiting through one more seasonal upswing could add meaningful value. Autumn and early winter often see stock shortages because families tend to avoid mid‑year moves. Listing in this window can attract premium offers,” he says.

Also, don’t underestimate your expenses. “Bond cancellation charges, compliance certificates, minor repairs and staging your property to look its best all add up. Capital gains tax is another tripwire. The first R2-million of profit on a primary residence is exempt; however, owners of secondary properties, including rented properties and holiday homes, face inclusion rates that can erode their profit margins,” Stevens says.