Before you put your home on the market, check out the competition.
That’s the advice of Dr Piet Botha, chairman of the Nationlink estate agency group, who says: “Home sellers need to assess what is going on in both the new home and previously-owned home sectors of the market when putting their properties up for sale.
“Those with a relatively modern home could find, for example, that there are even newer homes in a nearby development vying for the attention of buyers. And in any market, hot or cold, homes that are in pristine condition will sell faster and for more than others in the same area.”
Then after they have found out what they are up against, sellers should work out what they can do to make their properties more competitive, he says.
“If there are lots of newly-built homes in your area, you may need to repaint, replace old flooring and tired fittings and decorate down (make your home more vanilla) to compete with their fresh appeal.
“You may also need to offer buyers an incentive. Developers these days are not only offering to pay their buyers’ transfer costs, but giving away kitchen appliances and even holidays, so you may also need to work with your agent to find a way to sell the ‘deal’ rather than the property.”
Botha says that if your major competition is other homes of the same age, the condition of your home will most likely be the decider – but that you need to “advertise” great condition with great curb appeal.
“Many prospective buyers will simply drive on by if the house doesn't wow them right from the start, so it’s worth putting an effort into the exterior – and the best way is to plan the sale several months in advance. A drab garden can be fixed in one growing season, and that will give you the time you need to varnish the garage door, paint the roof, pretty-up the patio and generally spruce up the outside of your home.”
He says sellers should also bear in mind that “the way you sell a home is not the way you live in it” – and not be afraid or embarrassed to stage or “dress-up” their property for a showday.
“And finally, when you come to set a price, remember that your local real estate market is exactly that - a market – and that prices are controlled not by estate agents but by buyers, most of whom are looking for fresh, clean and unstained properties and are willing to pay a premium for them.”