Buying property gets its fair share of recognition for the important transaction that it is. And rightly so, it’s a big and costly decision that has a deep impact on your family life, your finances and more.
READ: Selling: 3 reassuring truths every first-time home seller should know
But selling a property is equally significant and one that surely deserves as much consideration. “Selling one’s property can be daunting, irrespective of whether the purpose is to upgrade, downscale, move abroad or any number of reasons in between, which is why it’s crucial to have the right information and the right support on hand,” says Skoko Sebola, Principal at Leapfrog Midrand.
When working with a property advisor, sellers are free to ask as many questions about the process as they need - and a professional advisor will certainly be able to give clear, relevant and transparent answers - but Sebola advises sellers to ask the five questions below to begin with.
How do we determine the selling price of my property?
Sellers usually have a price in mind but the job of the property agent is to advise on the best price and the one the property is most likely to sell at. Pricing a property properly is about more than what the sellers think they should get. The right price takes the value of the property, its condition, the area it’s located in and prevailing market conditions into consideration. “A reputable property agent will gladly go into details about how the right selling price is determined and why the right price is crucial,” Sebola says.
Can you tell me about similar properties to mine that you recently sold in the area?
The answer will offer an indication of the agent’s experience and understanding of your particular property type and the trends in the market in general. It also gives the seller a sense of how long they can expect their property to be on the market.
How is your commission structure determined?
A productive professional relationship, such as that between property agent and property seller, hinges on transparency and so the agent should have no qualms about revealing their commission structure. “The agent is there to render a professional service and their commission is compensation for their time, insights and expertise and there’s no reason to hide that,” Sebola says.
What are the “unexpected” costs I am responsible for as the seller?
Nobody likes to be caught off-guard when it comes to costs and expenses. Selling a property does, often contrary to popular belief, come with costs so be sure to ask the property advisor what to expect. “Typically the cost of selling includes things like the bond cancellation fee, compliance certificates, outstanding rates, taxes and levies, and the agent’s commission.
What’s your sales/marketing line going to be for my property?
Yes, selling one’s property is a financial transaction first and foremost but it’s also so much more than that - often laden with emotion. “I often find that if I share with sellers how my team will pitch their property to potential buyers, it makes them feel more at ease. And that’s not to say you won’t be transparent about the less attractive or appealing elements of the property but it does help them understand that you’re acting in their best interest,” Sebola shares.
They say there is no such thing as a silly question and this is especially true when it comes to property. “Feel free to ask again - it’s our job to answer,” Sebola says.
Which home improvements offer the highest return on investment for sellers?
According to Quay 1 International Realty for sellers in the Cape Town property market, key home improvements that offer high ROI include creating open-plan living areas, enhancing energy efficiency with features like solar panels, and improving kerb appeal through landscaping or exterior upgrades. Kitchen and bathroom renovations are also essential, with modern fixtures and updated designs attracting buyers. These strategic upgrades make homes more appealing, functional, and energy-efficient, thereby increasing their market value.
READ: Overcoming the emotions of selling your home
TheSpruce shares six tips to help you start.
Put clutter in storage
If you have a minimalist decorating style and pared-down possessions, then skip this tip and go on to number 2. For the rest of us, however, it bears repeating that hiding your home’s good features behind piles of clutter will only make it harder for the buyer to fall in love with your home. Box up anything you won’t be using in the next few months (including holiday decorations, seasonal clothing or sports equipment, old toys, etc.) and send it to a storage facility. While you’re at it, take a look at your furniture and remove any pieces that look less-than-perfect or make a room feel crowded.
Style bathrooms and kitchens
A house is made of many rooms, but most realtors will tell you that the two that people see first and remember most, the two that sell more homes than any other rooms, are the bathroom and the kitchen. So if you're looking to sell now, make sure that these two rooms get a little extra care and attention. Even when a whole remodel isn't in the cards, there are still a few simple things that you can do. Try wallpapering your bathroom for a gorgeous new look. And in the kitchen, you'll be amazed to see how much you can accomplish with the right backsplash.
Remove outdated window treatments
Dreary draperies, torn window shades, or bent mini-blinds will do nothing to sell a home faster. Remove these outdated items and replace them with simple white mini-blinds or wood blinds cut-to-measure at a home center. This is a fairly simple fix that can refresh your rooms in just one weekend.
Install closet systems
Crowded closets stuffed with clothing and household items make it look like there isn’t enough storage. Instead, go through closets and store (or give away) anything that’s not currently needed. Once the closet is empty, install a closet system from a home center and refill with just enough of your stuff so the closet looks organised, but not cluttered.
Showcase wood flooring
Worn, dirty, or badly colored carpeting can turn buyers off in seconds. If you have hardwood floors that are in good shape, however, the fix is easy. Tear out the carpeting and expose the wood. Buyers won’t have to wonder what’s underneath the carpet and will likely love the look of hardwood flooring.
Paint
Any serious defects in the paint job on your walls will need to be covered, but this is about more than maintenance. More than anything, a potential buyer needs to be able to see him or herself in the space, and the color of the walls has a lot to do with how clear that vision can be. When repainting with an intent to sell, neutral colors are best. But that doesn't mean that everything begins and ends with white. There is any number of neutral colors, including a range of soothing gray tones that could be just what they're looking for.
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