Sentiments are predominantly pessimistic in SA at the moment as the country battles with recessionary conditions exacerbated by Covid-19 lockdown. In the face of this, the property sector has been experiencing a marked upswing in the last few months.
This is according to Denise Dogon, founder of Dogon Group Properties who says that notwithstanding the economic woes being experienced in South Africa, DG is still seeing success in the market - with the company’s recent sales for winter 2020 being their best ever for what is traditionally a quiet time of the year.
Alexa Horne, MD of Dogon Group Properties says, crucial to these successful sales figures is well-priced properties. “The key is for sellers to price their properties correctly and to not have unrealistic expectations. A well-priced property will have a buyer waiting.”
Of course price plays an important role, but Michelle Cohen, Principal of Leapfrog Johannesburg North East and Sandton, says potential buyers are likely to only look at properties in their price range anyway, so the cosmetic and aesthetic details are ultimately what helps to set one property apart from another.
“The final decision for a potential buyer is often about the experience and the feeling they get when they walk into a home, rather than about the price exclusively,” explains Cohen.
People need to be able to imagine themselves living in the space, and everybody wants to live in a beautiful home, so it’s about making it more desirable, which is where home staging comes in very handy.
Read | 4 tips to help you sell your property faster at the best price
For those looking to sell, here are handy tips in pricing your home correctly and thereby realising a sale:
1. Price correctly from the start
You don’t have to be offering the cheapest property on the market to achieve a quick sale, rather it needs to be well priced in comparison with similar properties, says Dogon Properties.
The longer a property remains on the market, the higher the probability that the eventual selling price will be substantially lower than the original asking price. Regardless of the market you find yourself in, in any geographical location around the world, this remains true. Pricing the home correctly from the outset, therefore, becomes critically important, says Andreas Wassenaar, Seeff’s Licensee and Principal at the Zimbali office.
If your home has been on the market without success for more than six months then it is time for a breather. Relisting the home with revised imagery as if it was a brand new listing is a strategy that can work to keep things fresh.
2. Get your home showroom ready
Carefully consider the three key elements that impact the sale of a home: price, condition and location.
Once you are happy with your gross asking price, Wassenaar says explore how to present the home in showroom condition. If your agent recommends de-cluttering, take this advice seriously and start throwing things out - not only can it be very therapeutic, but you may even start to enjoy your new minimalist surrounds.
3. Do your research with regards to what else is out there and at what price
Whether it is from competing estate agents attempting to talk the price up to secure a mandate or from a neighbour who believes they have a gifted insight into the property market, evaluate all information objectively and with caution, he says.
SEE | 5 tips to help you price your property and sell fast
4. Differentiate your property
In order to attract attention and to make your home more memorable and desirable, consider additions like installing sustainable solutions such as solar energy, grey-water systems and bio-digesters. This will help improve your home's footprint, whilst also adding value to the property. Just remember that any improvements should be practical and appeal to a wide audience.
5. Improve the façade of your property
Sellers often overlook the importance of their home's street appearance and appeal. The first thing a buyer sees is a home's external appearance and the way it fits into the surrounding neighbourhood. Try to make sure that the exterior of your property is attractive at first glance.
6. Get Your Home in 'move-in' condition
It is important to give potential buyers the impression that they will be able to move right in and start enjoying their new home, rather than having to spend time and money fixing it up.
Horne says that Dogon also continue to experience robust sales of properties within residential developments for under R2 million - such as Foreshore Place, where four apartments were sold to buyers from Gauteng in July alone.
Situated on the corner of Adderley Street, Riebeek Street and St Georges Mall and previously known as the ABSA building, Foreshore Place has 15 floors of commercial space with the ground floor offering banking facilities, coffee shops, food and other shops. Above this rises 11 floors of residential units, which runs from the 6th floor to 16th floor, made up of 99 one-bedroom apartments, nine two-bedroom apartments and 63 studio apartments. The fourth floor of Foreshore Place features a business and resident’s lounge and entertainment terrace.
“Another new development that we are being inundated with queries about is Steenberg Green, a luxury security estate nestled beneath the Steenberg Mountains next to the Tokai Forest. The site on which Steenberg Green is being developed (opposite the Steenberg Golf Estate) enjoys panoramic views looking North over the Tokai Conservation Corridor towards Devil's Peak and West towards the Constantiaberg.”
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