Selling privately versus using an estate agent

In South Africa it can take more or less three months for the sale of a property to conclude. This can be an immensely trying time if you are living in limbo. Especially if you are looking to get this over and done with swiftly.  There’s nothing wrong with wanting to sell your property fast, but you have to be smart about it. If you try to sell your home on your own, you might avoid paying commission, but it could end up costing you in other ways. Paying an estate agent’s fee could turn out to be a small price to pay if you are looking to sell property fast and hassle-free.

Selling privately:

Selling your home privately may be tempting because you avoid paying commission fees but there is much to consider before deciding to sell on your own…

If you are embarking on a private home sale because you believe you can sell your  property quickly, you need to consider how much time you (really) have. For starters, you will have to write a catchy description of your home and take exceptional pictures or get professional photographs taken. Then you will have to load all of this to the property portals to start advertising. 

One thing is for sure, properties that are priced right will sell quickly. A beautifully presented home with a perfect price tag could garner a lot of attention on the property portals. You will have to dedicate time to respond to potential buyers, as well as arrange viewings with interested parties. 

And if this isn’t your first-time selling your property, you might be surprised to learn about all the additional paperwork that is required. Not only will you need an offer to purchase (OTP) agreement for the parties to sign, but you will also need to obtain various compliance certificates to conclude the sale, for example, an Electrical Certificate of Compliance (ECOC) and a Rates Clearance Certificate (RCC). 

A sale agreement and the terms thereof are also not as simple as they may seem. A good agent knows this legally binding document better than most and will guide you though all the nuances of this daunting agreement. Does the buyer require a bond, is the purchase subject to any suspensive or special conditions or what are the legal implications should either party fail to perform in terms of the agreed terms? A good agent also knows how to interpret and apply the terms of the sale agreement which will give you peace of mind in the negotiation and transfer process.

Selling via an estate agent:

Rather than cutting the corners on your home sale by doing it yourself, consider getting a professional involved. An estate agent serves as the link between a seller and buyer. They will help you with all the legal and financial matters. This can help speed up the process. You will also save a wealth of time with agencies that assist with professional photography and marketing of your property. Just remember to get all these promises in writing!

Once you have decided to sell with an agent, find out who the active estate agents are in your neighbourhood. They will likely have access to a group of buyers interested in your area. And because they deal with real estate every day, and have access to industry tools, they will be able to give you a good idea of market-related property values. 

If you have done some research of your own, you will be able to tell if an agent is suggesting an over-inflated sale price to impress you in the hopes of a sole mandate. An agent looking to make a quick sale might give you an under-valued sale price. But a professional agent will listen to your needs and suggest a sale price that aligns with your timeline. A professional agent will be able to support their market valuation with comparative prices of recently sold homes in your neighbourhood.

Not all estate agents were created equally, but all of them should be registered with the Estate Agency Affairs Board (EAAB) who is their governing body. Ask around to find a reputable estate agent in your area. If you are sceptic and want some proof, request to see the agent’s Fidelity Fund Certificate (FFC). 

If you looking to sell in the following areas, Please don’t hesitate to give me a call.

Areas Serviced: Pinehaven, Homes Haven, Honingklip, Allen’s Nek, Amorosa, Constantia Kloof, Helderkruin, Honeydew, Little Falls, Radiokop, Roodekrans, Ruimsig, Strubens Valley, Tres Jolie, Weltevreden Park, Wilgeheuwel, Willowbrook, Wilro Park and Surrounding areas.

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