|Appointing an agent to sell your home is a big decision and in today’s times it’s become an even greater challenge with a sudden influx of estate agencies opening up on every corner. We sat back and thought to ourselves what is the defining factor that a seller should take into consideration when selling a property and came to quite a simple answer… who can sell the house quickest! |
Having that in mind, it seems quite simple to then ask the question to the agent, well “how fast can you sell it”? The problem is the answers given to sellers by agents are not always the truth because realistically there is only one correct answer and it comes down to pricing the house correctly and that is where most agents start the path of creating unrealistic expectations and ultimately over selling themselves as agents.
You see realistically, the time your property stands on the market will be determined by how well you position that property in the market. Today’s buyers are extremely tech savvy, and they know how to shop for homes, so you need to position it correctly to ensure that it attracts their attention. Think of it like this, if you go onto any of the major property portals and search for a 3 bedroom house in Sandton, you are going to start seeing a trend of what a 3 bedroom house goes for in Sandton, lets say R2.5 million, so if an agent goes and places a 3 bedroom house on the market at R3 Million (no matter how stunning the house is) buyers are not going to even consider it because they know what a 3 bedroom house in Sandton is really worth and this is the challenge of selling a house quickly.
Now on the flip side of this, we have agents out there who don’t do their market research first and simply sign a mandate at any price just to get the mandate and it’s the seller who loses time and money. Yes, we can all agree that there is a lot that goes into pricing a home correctly that shouldn’t be overlooked, but the formula is quite simple and if it is followed correctly the house will sell.
Understandably, you might be asking yourself at this point but what about economic conditions and external factors and the answer is quite simple. The housing market has been quite resilient to changes in economic conditions, take the current pandemic as an example, the housing market is booming, and houses are being sold everywhere. The reality is that people will always need to buy and sell homes it is a reality of life and while economic conditions might slow down the process slightly, it will only be made worse if your home is overpriced.
In a nutshell, the Estate Agency that sells your house quicker is the one that understands that price is fundamental when it comes to selling your home and positioning that property to sell in any market is what determines the time it spends on the market. The estate agent should be taking you through pricing your home correctly at the mandate presentation and you can trust that your agent is not trying to do you in if the price they recommend is not what you expected they are only giving you the truth around your properties value.