Spring is finally here, says Tony Clarke, Managing Director of the Rawson Property Group,and it can be relied on to generate a new wave of buying activity. Traditionally every spring period is marked by an upturn in residential property sales and it is almost, he says, as if South Africans with home selling ambitions go into hibernation in winter and then blossom in spring.
Getting an accurate valuation, added Clarke, is especially necessary at this time because ‘dinner table talk’ about sales prices in many areas being wholly slanted in favour of the seller has often led to very unrealistic prices. While it is true that homes in many of the metro areas are selling fast, it is also true that those which are overpriced simply stick on the market and eventually gain a bad name – a situation every seller should try and avoid.
Those taking action as soon as possible, said Clarke, will give their estate agent the opportunity to plan a thorough marketing campaign and to cultivate the contacts they have made and listed in recent weeks or months. In some cases, buyers wait a very long time for the ideal home to come up and the latest coming onto the market may just be exactly what they are looking for.
Clarke said, too, that many sellers are vague about the time required it takes to sell a home these days and equally vague about the time required for the contractual side of the deal to be completed. All these subjects should be discussed with the estate agent on the outset.
Those selling with a view to upscaling or downscaling with the help of a bond should, said Clarke, before contacting an estate agent check with a reputable bond originator or their bank to find out what loan amount they will probably qualify for. Those who go ahead without taking this precaution, he said, may find that their ability to buy another home is severely limited – especially if they are older – to whom bonds are less frequently awarded these days unless a very large deposit is paid.
Clarke also advised for those selling their homes to spend as much time and money as possible on sprucing up the home’s appearance before they allow visitors to see it. Spring cleaning should be complemented by a repainting of all the neglected sections of the home, internal and external, and by making the garden look as good as possible. A few hundred or even a few thousand rands spent here will usually pay handsome dividends in raising the buyers’ bids.
Asked what advice he could give a house seller on the selection of his estate agent, Clarke said that it will usually pay to select the dominant agency in the neighbourhood, the one with the highest profile in its area.
“If the agency is the most successful in its region,” he said, “that is usually for a very good reason. At the same time the estate agent’s recent track record should be checked to find out how well he understands his neighbourhood.”
For further information contact the Rawson Property Group on 021 658 7100.
