Selling a Property an Emotional Time for Property Owners

SELLING a residential property is an emotional time for property owners. It is also a time of big expectations – how much money will they get for their home and how long will it take to sell?

Asking these questions will give sellers a good idea of the time and money involved in the sale of their property. Pricing a property correctly is essential to attracting serious buyers.

The first step sellers need to take is selecting an agent to work with. This is the most crucial step in the whole process. The agent a seller chooses to work with will in­fluence the entire process and sale prospects in the marketing of your home. Therefore, making a careful choice when it comes to agent selection is vital.

As sellers request valuations and marketing proposals from numerous estate agents, how do they know which agent is the right one to work with? Stefaan Verlinde from Seeff Oudtshoorn lays out some basic questions he believes every seller should ask the agent they want to work with:

Agent credentials
1. Do you have a valid Fidelity Fund Certificate?
2. For how long have you sold properties in this area?
Setting the sale price
3. What price can I achieve for my home?
4. How would you justify that this price is correct for the current market?

Comparative pro­perties for sale in the area
5. How many properties are currently on the market in this area?
6. Is my property selling price market-related to compete with other properties in this price range?

Current sales in the area
7. What have the sel­ling prices been for similar properties in the past six months?
8. How long were these homes in the market?
9. What was the selling price compared to the marketing price advertised?
10. How long does it take to sell properties in this market?

Marketing my pro­perty
11. Do you have a marketing plan to showcase my property?
12. What would you recommend to enhance the condition of my home?
13. What is the time period that I should give you on a sole mandate to sell my home?
14. Who do you think would buy my home?
15. What features of my home would attract a buyer, and how can we highlight this to a buyer?
16. Are you using a professional photographer to take photographs of my home?
17. Will I receive weekly updates from you on the progress of my sale?
18. Will you always accompany the buyer to view my property?
19. Do you pre-qualify the potential buying power of a prospective buyer?
20. Do you plan on hosting show days?

Costs
21. What costs will I be liable for as the seller?

Responsibilities
22. Must I disclose any known defects of my home to the purchaser?
23. Must I give notice to my bank regarding my current bond on the property?
24. Must I continue to pay home insurance on my property?
25. What compliance certificates am I responsible for providing to the purchasers?

• “Selling a home needn’t be stressful. That is why working with a professional agent who can pro­vide you with solid answers to the questions above and any other questions, is the best way forward.”

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