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The Selling Process
Pricing your home
Why an Exclusive Mandate
Useful Hints - Show days
How Long To Wrap Up a Deal?
What Happens Once You Have Sold
Once
the decision to sell has been made, or you are considering the possibility
of selling.
The following guidelines will assist you.
- Look
at adverts of other properties "On the market" in your area.
- Call
in 2 or 3 reputable, active agents in your area.
- Obtain
a current "market evaluation" average.
- Check
the ‘useful hints’ on this site.
- Discuss
your view plans with the agents.
- Ask
the agents for a CV – experience, track records, knowledge, professionalism
and marketing plan…
- Decide
to work with ONE agent, giving them a MANDATE and entrusting them to
sell your home (See these pages on this site)
- Work
with an agent you feel comfortable with, you can trust, who can back
up their "sales pitch" with facts and proof.
- Discuss
you requirements in depth with the agent, be sure there is an understanding,
and then allow the agent to get with the job.
- Communication
and feedback are most important.
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Unrealistic
pricing of your property and the ignoring of the advice of the professional
estate agent and his back – up analysis about a true value of your home
can be costly in the long run.
Listing
a property at an unacceptably high price militates against the potential
buyer who will, in turn, look around for another property offering what
he considers as better value.
If
your house remains overpriced the danger is that your home will be on
show for months and generally be considered as the "market’s wallflower".
Experience
has shown that the initial period of exposure of a property is normally
the best time to secure a good price.
Here
are some relevant facts when it comes to price setting:
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Improvements to the property might be a drawcard as far as you are concerned
but the buyer might not place as much emphasis on those "personalised"
aspects.
*
Hoping for substantial financial gain from a sale to fund a new car or
business venture? Remember, your home is worth exactly what John buyer
is prepared to pay for it at any given time.
*
Replacement value? The figure is fine for insurance purposes but means
very little in the market place.
*
Market value is a direct result of the laws of supply and demand. Every
home is different. Your best bet to arrive at a reasonable asking price
is to listen to that reputable estate agent and his price motivation.
*
Your Estate agent will present comparative prices taking into consideration,
age condition and locality. Remember to compare the price of your home
with the actual selling prices of homes in the area.
*
Finally beware of exaggeration in pricing. Regrettably, there are agents
who, in an effort to make a good first impression, might place an inflated
price – tag on your home and try to soften you up thereafter presenting
you with offers far lower than could have been secured by the experienced
negotiator in the first place.
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WHY AN EXCLUSIVE MANDATE
*
Avoid paying double commission
If agent A introduces Mr. Jones and later agent B introduces Mrs. Jones,
both have a claim for commission.
*
A moral commitment between yourself and the agent
You’re depending on the agent and he knows it – if he does not do the
job nobody will – you hold one agent accountable and responsible.
*
Monitoring and control of the agents marketing plan
Together we will plan our marketing strategy – and put it in writing.
We will start will start working from day one and not let up until your
property is sold.
*
You will receive regular feedback
Open Mandate agents will not give true feedback about price in case the
price is adjusted and the opposition has a buyer at that price.
*
Advertising
A far more generous advertising budget is allocated to Sole Mandates as
the company is assured that this money shall not be wasted.
*
Your property becomes top priority
A good agent can only handle so many properties efficiently – Sole Mandates
always receive top priority.
*
More agents do not mean more buyers
No agent has a Sole Mandate on a buyer. Our network of 50 offices referring
clients nationwide ensures that we have access to all buyers in the market
at any one time.
*
Time to secure the highest price
The agent will not pressurize you into accepting an offer simply because
he is afraid that the opposition might try and pip him at the post. We
can negotiate with our buyer and in fact, create competition between buyers
to ensure that you realize the highest price possible.
*
Control
A single price is quoted, viewing times are set, one reason for selling
is given, advertising is consistent. All control is lost when dealing
with more than one agent.
*
Security and privacy
Valuable goods need to be looked after in your home. Selling a home is
also a very personal matter, the reasons for which do not have to be discussed
with all and sundry.
*
Your property will not be used as a springboard
It is common practice for agents to first show prospective buyers overpriced
non mandated properties to make their property priced Mandated houses
look more attractive. Buyers purchase by comparison.
*
No Mandate, no motivation
The agent needs to allocate all his time and energy into the selling of
a property – would he do this if it could be for nothing?
REMEMBER
IF, IN THE UNLIKELY EVENT OF OUR AGENT NOT LIVING UP TO YOUR EXPECTATIONS
AND HIS MARKETING PLAN, YOU HAVE THE RIGHT TO DISCUSS THIS WITH THE PRINCIPAL.
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Preparing
your property for Marketing will not only help you to sell your property
quickly, but will also get you a higher price.
THIS
IS NOT A MYTH!! WE CAN PROVE IT!!
- Paint
the interior and exterior and roof, if necessary, keeping to neutral
colour schemes
- Remove
stickers from walls and cupboards
- Repair
all cracks with Polyfilla
- Ensure
that the roof does not leak as financial institutions will hold back
a retention on the bond - which in turn will hold up the sale
- Replace/repair/paint
shabby fascias, gutters & downpipes
- Steam
clean carpets - this gives a home a new, fresh appeal
- Dispose
of 'doggy landmines'
- Manicure
garden, pavements, driveways, back & front yards
- Remove
all rubble from your garden
- Repair/repaint
pot plant containers
- Cut
back creepers and overgrown shrubs which tend to make the home dark
- Varnish
slasto, patios & paths which have faded and look shabby
- Revarnish/oil
all woodwork inside & out and check whether front/back doors require
attention
- Clean
all windows
- Make
sure all outbuildings are open for inspection
- Replace
globes & broken light fittings
- Check
for leaking taps & cisterns, cracked toilets
- Ensure
the pool is sparkling clean
- Repair
any cracked or broken windows
- When
photographer is expected to take photographs of your property, ensure
pool cleaning equipment, ladders, hosepipes, garden tools, toys, etc
are removed and stored in their rightful places.
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HOW LONG TO WRAP UP A DEAL?
Tomorrow
isn’t too soon – or is it?
Occasionally a house is sold within a few days after listing. If you choose
an established agent, he will have several prospects on his books. And
if luck has it that way, your home might be just what the doctor ordered
for a very keen buyer.
In
such instances, a seller is frequently placed in an awkward situation,
not having had the opportunity of testing the market and not really knowing
the true value of his property. On many occasions, such early offers are
turned down by sellers who eventually have to sell for several thousand
rand less because the original price cannot be matched.
If
you are presented with an offer only hours after listing your property,
don’t jump to the conclusion that your house is under priced – it might
just be your lucky day.
How
to help win time over on your side
Build up a friendly relationship with your agent. Don’t blame him if your
house is not sold immediately, he can’t help it if your house doesn’t
suit the available buyers at any given time. Besides, your price might
be too high, or maybe a coat of paint and general tidy-up of the property
and garden would elicit more interest.
Have
patience, allow for time to test the market. Have faith in the fact that
your agent’s track record in the area.
Stick
with an estate agent that do a lot of advertising for that mean your property
will sell faster.
All
these enquiries are processed at our Head Office and branches, then passed
on to your agent. He will do his level best to attract as many of these
prospects to see your home as he possibly can.
Remember,
your agent is as keen as you are to sell your property. If your personal
relationship is amicable, he will do just that little bit more to please
you.
If all else fails
If after a length period of time, your house remains unsold, call in your
agent and have a friendly, frank discussion in an endeavour to solve the
problem. By this time, buyer reaction will have exposed many of the reasons
why other properties are being sold and why yours remains on the shelf.
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WHAT HAPPENS ONCE YOU HAVE SOLD?
After
the offer has been accepted
We,
your agents:
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Obtain the deposits from the purchaser – (if applicable)
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Obtain copies of I.D documents, marriage certificates, A.N.C contracts,
divorce documents etc. from the buyer and hand them to the transferring
attorney and financial institution.
*
Complete the bond application, if applicable, and hand it to the financial
institution.
*
Send copies of the agreement to the seller, the purchaser and the transferring
attorney together with a covering letter.
*
Arrange for a bank valuation of the property, and constantly monitor the
bond application until it is granted in writing.
*
Advise the seller, purchaser and transferring attorney of bond grant.
*
Follow – up on all suspense conditions
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Keep in contact with the attorney until documents are lodged at the Deeds
Office.
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Follow-up with transferring attorney until the date of registration.
*
Should you which to know the progress of your sale during the course of
transfer, call your agent.
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