Selling your House?

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

THE SELLING PROCESS

Once the decision to sell has been made, or you are considering the possibility of selling.
The following guidelines will assist you.

  1. Look at adverts of other properties "On the market" in your area.
  2. Call in 2 or 3 reputable, active agents in your area.
  3. Obtain a current "market evaluation" average.
  4. Check the ‘useful hints’ on this site.
  5. Discuss your view plans with the agents.
  6. Ask the agents for a CV – experience, track records, knowledge, professionalism and marketing plan…
  7. Decide to work with ONE agent, giving them a MANDATE and entrusting them to sell your home (See these pages on this site)
  8. Work with an agent you feel comfortable with, you can trust, who can back up their "sales pitch" with facts and proof.
  9. Discuss you requirements in depth with the agent, be sure there is an understanding, and then allow the agent to get with the job.
  10. Communication and feedback are most important.

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PRICING YOUR HOME

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:

* 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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USEFUL HINTS - SHOW DAYS

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:

* Obtain the deposits from the purchaser – (if applicable)

* 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

* Keep in contact with the attorney until documents are lodged at the Deeds Office.

* 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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