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REAL VALUE. Let's get real.
Category Property News
Selling your home is never an easy decision to make, and at Sotheby's International Realty, we understand the stress and anxiety that comes along with it, Your mind is clouded with questions from choosing an agency, how long it will take, the risks, the extra costs and most importantly, how much will you get? First things first, what would you like to achieve? What is the non negotiable value you NEED from the sale to make your next move? What is a negotiable, but ideal value, you would LIKE to achieve from the sale? Secondly, do your research. What properties similar to yours in size, condition and features have recently sold in the vicinity? What are the Buyers currently prepared to pay for properties like yours? It is the difference between the market price and the sellers price that provides the perfect opportunity for negotiation. This is whyyou need a skilled and knowledgeable real estate broker, who is a trained expert in working with buyers by educating them on the 'real value of the property and advising sellers, with tangible business intelligence, of the 'market value: Now, as a seller you are entitled to demand your price for your home. However, over pricing comes with many pitfalls: especially when your property has been on the market for months, only to have buyers swoop in with cheeky offers when they sea the dreaded, but inevitable price reduction. Sellers, you owe it to yourself to become an empowered and skilled negotiator. Put yourself in the potential buyers position and do your own research. Consult a property professional and request for a comparative market analysis, ask them questions about the prices being achieved, the type of properties that are currently in the market and what most buyers are looking for in a properly. There is no doubt that the ideal outcome in a property transaction should be for the Buyer: to acquire a high quality property, for an acceptable value, and for the Seller: to sell to an eligible buyer, in the shortest possible time for the highest possible price. Of course, the optimal time in which to achieve the highest possible 'market' price, is within the first few weeks of marketing; however, this can only be achieved when the initial 'go to market price' has been accurately determined. At Sotheby's International Realty we have refined the art of selling property using "The Auction Principle". This is a highly successful method used to achieve the best possible price in the shortest possible time, which essentially makes working with a Sotheby's International Realty broker unique. The 'auction principle' not only protects the seller from bargain hunters attempting to undermine the value of the property, but assists the buyer to recognize the 'real' value of the property, thus ensuring that an acceptable offer is made. We all mentally round up to the nearest Rand when considering price. For example: A buyer looking between parameters of R1.5 million and R2 million will still view all the properties priced at R1.99 million. We guide sellers to price within the "catch" price range, to target those buyers most likely to make an offer. In the current real estate landscape, you ought to deal with professionals. A home owner may sell a property once every decade, real estate brokers are constantly at the competitive and sharp end of real estate transactions. They truly know what is going on in the market and their awareness with the market trends eliminates all of your insecurities and uncertainties. Make cognizant choices when it comes to appointing an agency and the broker you want to deal with; work alongside them in a partnership, trust their experience and knowledge and everyone will benefit from the outcome.
Author: Lew Geffen Sotheby's International Realty