Properties in Cape Town’s North-Eastern Suburbs have always enjoyed consistent demand and solid appreciation, and have made excellent long-term investments for countless families over the years. Statistics reveal many owners, particularly in neighbourhoods like Bothasig and Edgemead, have owned their properties for at least a decade or more – a great indication of the desirability and stability of the area. However, according to local Rawson Property Group Sales Manager, Louis Taljaard, it does have some downsides that long-term owners need to be aware of when they decide to sell.
“One of the biggest issues that we’re noticing is that a lot of sellers in our area – particularly those who haven’t been on the market for many years – don’t know what they should be looking for in an agent these days,” says Taljaard. “The industry has changed dramatically over the last decade, and what worked back in the day isn’t the same as what works now.”
To get the best from a sale today, Taljaard says it’s vital to partner with an agent who not only has a good reputation and neighbourhood presence, but also has access to – and makes good use of – all the latest tools at their disposal.
“Things like property valuations aren’t just ‘gut instinct’ assessments made by agents anymore,” he says. “Yes, there’s a level of on-the-ground experience that goes into it, but to really get the numbers spot on, you also need to leverage as much statistical data and market trend research as possible.”
According to Taljaard, sellers can recognise a good valuation by the supporting information the agent provides. The Rawson Property Group, for example, compiles a comprehensive comparative market analysis document for every property evaluated, including images and price details of similar properties in the area.
“It’s a far cry from the simple one- or two-pager you would have received 10 years ago,” says Taljaard. “We go to a lot of effort to illustrate buyer and price trends, and explain exactly where your home fits into the market. It’s our way of showing that we don’t just thumb-suck our listing price recommendations, and that we’re not trying to over- or under-price your home for unethical reasons.”
Sadly, questionable ethics do still affect the real estate industry from time to time, despite the rigorous quality controls put in place by industry governing bodies. Taljaard cautions sellers not to be tempted by fly-by-night agents, particularly those offering suspiciously low commissions.
“The average estate agent commission may seem high to sellers not familiar with the market, but there’s a reason those figures are the norm,” he says. “Anyone accepting rates far below the modern average is guaranteed to be cutting corners somewhere, and is certainly not going be incentivised to fight for the highest possible sales price. At best, they’ll rush your sale through for below-market-value. At worst, they’ll overprice your home and leave you with a stagnant listing and no potential buyers.”
A high commission is no guarantee of good service, however. Taljaard also recommends sellers double-check their agent’s credentials and references, and confirm they have a valid Fidelity Fund Certificate at the very least.
“Using a national brand is generally the safest option, but there are plenty of excellent independent realtors if you do your homework,” he says.
“Just remember, there are other benefits to using a company with a national footprint. People are moving to Cape Town from all over the country these days and it can be very helpful having an agent who’s not only well-known in your area, but can also expose your property to this wider pool of potential buyers.”
No matter what agent you choose, putting your home on the market is still likely to be something of an emotional prospect. Taljaard urges sellers not to let the wrong choice of real estate partner add to the pressure.
“Find an agent who understands you as well as your home, your neighbourhood and your market,” he says, “and never, ever settle for anything less than the best and most up-to-date standard of service.”
For more obligation-free property advice, or to request a complimentary valuation, get in touch with Rawson Properties Bothasig on 021 558 7102.
