Putting your property on the market?

When it comes to excitement in relation to property, it is usually reserved for buying a property. What's more exciting than purchasing your first property, or adding to a growing portfolio? It is, after all, an investment that attests to commitment and hard work, and in the case of many residential properties, the place that you and your family will call home. 

So while selling a property may be a type of second cousin in the property-excitement hierarchy, it is equally significant!

"The selling process, just like buying a property, should be approached with an open mind. Remember that the ultimate goal is always to sell the property at the best possible price in the shortest possible time," says Giel Viljoen, Principal at Leapfrog Stellenbosch. 

According to Viljoen there are four main considerations sellers should take note of:

Work with a professional 

"Yes, of course the property professional is going to recommend working with a property agent!" Viljoen quips. But he goes on to explain that agents know both the market, and all the in's and out's of the selling process. Their very job is to make the process easier and more efficient for the seller. 

One of the most common reasons people want to manage the sale of a property themselves is to save on the agent commission but property professionals are skilled negotiators so they work with the seller to ensure the best possible deal for all parties. And that's to say nothing of the mountain of paperwork that they manage on the seller's behalf. 

Get the price right 

Setting yourself up for selling success has a great deal to do with finding the pricing sweet spot. "Ultimately, prevailing market conditions determine what a property sells at. Of course that is influenced by the state of the property, the location and various other factors," Viljoen says. 

He adds that pricing it too low(in relation to similar properties in the area) tends to make buyers think there is something wrong with the property, while overpricing simply means that it won't draw buyers. "Remember, buyers have access to various online tools and portals so they know exactly what similar properties are priced at," Viljoen explains.  

A property professional (see above!) is a great resource in this regard, and can work with a seller to establish the best, most accurate asking price for a property. 

Understand the cost of selling 

If there's one thing to take from Viljoen's advice it is to make very sure that, as the seller, you understand the various costs associated with selling a property. From bond cancellation costs to compliance certificates and agent commission, just because you're the seller doesn't mean you won't incur costs. 

Put your best foot forward

Lastly but as importantly, make sure that when a potential buyer views your property, they see it in the best light. 

Put some effort into staging your home but ensuring it is clean, light and clutter-free at the very least. "The old adage about not getting a second chance to make a first impression is particularly true when it comes to potential buyers viewing properties," Viljoen concludes.