sales

Tips for getting your property from Listed to SOLD.

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Tips for getting your property from Listed to SOLD!

Do some of your own research:

  • Have a look at some of the “Listing” and “Sold” prices in your area, street, neighbourhood, complex or estate where you stay. Any decent agent will be able to point this out to you but don’t just take his / her word for it. Many agents “buy” mandates by showing inflated valuations creating unrealistic expectations.
  • Pricing is the most important factor when selling. Although “location” is important, you can’t do anything about it unless you stay in a mobile home. A lot can be done to other factors such as condition, accessibility and pricing ….. get the price right, and you will sell quicker.

Become a buyer:

  • Look at your property through “Buying Eyes” and ask yourself the following questions ….
  • Would I buy it in the condition that it is?
  • What would I like to have “fixed up” before I buy?
  • What are the biggest negatives about my property and what can I do to make it better.

Appoint a reputable agent to market and sell your property:

  • We (agents) like to work on Mandates because that shows commitment from your side and I can then spend valuable time and money advertising and bringing buyers to your property. Although it might not always look that way, a lot of time, effort and money is spent on marketing and communicating with buyers before they actually see the property and once an offer comes in, the real work starts. You want to make sure you are dealing with an agent that understands the selling and registration processes so the transaction can be as quick and painless as possible. A mandate can be seen as an employment contract where the salary (“Commission”) is 100% performance / outcome based.

Be accessible:

  • Many properties do not sell because you can never get in to show buyers the property. Between you and your agent you have to arrange that the property can be easily accessible. Most buyers (not all) view properties after hours in the week or weekends and they see more than one at a time so you have to “play ball” here. If a buyer can’t see your property he will go on and buy something else and you might just lose out on “the one”.

Clean up:

  • It’s a fact, neat houses sell quicker than dirty or untidy houses. Buyers are put off by the fact that the owner is not taking care of the property and as much as we try to tell the buyers to look past the mess in the kitchen, unmade beds, clothes all over the floor, underpants (and other similar items) lying around in the bathroom, on the couch etc …… most buyers will not see the “potential” we talk about and leave.

Don’t be stubborn:

  • Selling properties is what we do and I don’t believe that this business can be done as a part-time or side-line business so …… selling property puts food on the table for most agents and we need to sell to survive. As mentioned in point 3 above, pick an agent that you can relate with, trust and work with to sell your property and then go with what he or she tells you to do. If you don’t get along with the agent, don’t appoint him or her and find one you like.

…………… hope this helps, please feel free to pass this on or “share” with friends and watch this space for more tips, hints and industry related news and updates …………. Happy Selling!

SOLD PropertySelling Property

Heads UP

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… every now and again we have to look at some stats to see where we are coming from AND if we are on track to where we want to go. The last 17 months since Jan ’12 we have captured our transactions a bit differently so that we can extract valuable data on various aspects of our business.

RealPro is not a BIG Real Estate Agency, but we a fair a mount of business on the Westrand including Krugersdorp and Roodepoort. Enough to get some stats to look at ….. at least. In the last 17 months we registered just over R 72 000 000 worth of properties (Property Value)., with an average value of below R 1 000 000. We make use of bond originators where we can as we believe they add value to our business and to the majority of our buyers. We have some clients who prefer to go directly to their banks but the most use originators to see where they can get the best deal.

Yes, we do get many 100% bond applications, 54% of the registered deals applied for 100% bonds and 57% of them got it. Many got 95% or 90% or even as low as 75% and still continued with the transaction.

Below is a graph showing which banks granted the most applications (deals) during this 17 month period. Banks include ABSA, Nedbank, Standard Bank, FNB as well as RMB and SA Homeloans.

Finance 3 June 2013…. watch this space for more stats and info ….. all our properties can be viewed at www.realpro4u.co.za

Have a good one

McS

Note to self

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So, I attended a function today where a local Attorney Firm, Leeuwner-Maritz, re launched a fresh new look for their Firm and we also had a nice breakfast ….. Thanks for that!

+/- 250 local agents, many of whom I work with, were also treated to an inspiring and motivational talk by none other than Cherie Power Coach and Speaker Cherie Eilertsen. I am so glad that the RealPro team got the opportunity to experience this. Cherie is such an energetic and dynamic person, you can’t help to feel like taking on the world after hearing her speak. Maybe the Sharks should invest in a talk or two …… Ha ha

What came out loud and clear from her talk was that our industry is an ever changing one. Principals, agents, attorneys and anyone involved in the Real Estate industry have to be looking for new and better ways to attract, service and keep clients. Our job as agents is a difficult one. We have to list new stock, find buyers and then put all the pieces of the puzzle together before we have a deal. Then, once we have the deal we have to start solving problems and finding ways for this deal to actually work …… Easier said than done.

Being a real property expert in the area where you work will go along way to making your job a lot easier and you will be able to work more effectively . Staying in touch and keeping a list of your hot prospective buyers is so important. If you are seen as the expert in your area, listings will come and if you have your list of buyers ready …. guess what, the offers will come as well. It won’t happen as easy as that every time and you will have to revert to advertising, showing etc etc but doing the hard work on a database of hot buyers will definitely be of great help …… Note to self!! This is an area of my business where I need to be a lot sharper and success will follow.

Thank you Leeuwner-Maritz and Cherie …. What a great morning and what a great privilege to have been able to attend, time well spent.

New Year – 2012

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I’m not really one for NEW YEARS RESOLUTIONS but I suppose it’s a good time to review how and what I have been doing up to now.

With almost 38 years of experience in this thing we call life I know that I can always try to do something better or be more efficient than what I have in the past. This is a great time to look for better ways to do what I do, better. Being in the Real Estate business for the last 5 years and having to sell and market properties for my clients, it doesn’t take a Rocket Scientist to figure out that if I can sell more properties, more often, I will make more money and more of my clients will be happy. This sounds easier than it is as there are a couple of hurdles that need to be overcome.

A couple that comes to mind, in no specific order are:

1. List at the right price
2. Build up a database of buyers / investors
3. Regular communication to clients / buyers / sellers
4. Better and more efficient use of technology, websites, blogs and social networking platforms ….. and and and

…… Not that any of this is new but it’s good to have a constant reminder. More happy clients also means more “word of mouth” marketing that your clients do on your behalf ….. still one of the best forms of marketing.

So I guess after all of this, my New Years Resolution for my business is not just to work “smarter” in stead of “harder” but to have more of my clients do my marketing for me ……

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Property Business: Outlook for 2012

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I have only been in the Real Estate industry for the last 5 years, since March 2007 and have had my own agency since July 2007. It didn’t take me long to realise that it might not have been the best time to start an agency as this was also the time when the market started to go for a bit of a “dive”, if you know what I mean. The bond lending rate was at 11% in July 2007 and went up to 15.5% (June 2008) before coming all the way down since then to where we are today.

The market and business as we knew it was changing and then the new National Credit Act came into play. There were no more 108% loans where the banks financed your loan, your deposit, your costs and your new lounge & dining room suit. Many prospective buyers become tenants and the words “qualified buyer” took on a whole new meaning. The “boom” was no more and the property industry became a touch place to make a living. Many agents and agencies have gone “walkabout” to find greener pastures and the industry became a lot more regulated. We have also been through a recession and many economists are predicting more of the same to come.

So, what should we do now? Well, I might not have 30 years experience in the property business but I have enough experience in life to know that our situation is not unique and that many before me and even more after me will be able to make a success in tough times. Looking at 2012 and remembering my brief 5 years of experience, marketing and selling houses on the Westrand, I am very positive and looking forward to a great 2012. Will it be tough? Yes! Will buyers struggle to get bonds? Yes! Will there be less stock? Probably! But the fact is that there will always be people who need to sell their properties and there will always be those who see opportunity in buying property for themselves or for investment purposes. Economists all over agree that property in SA is still a good long term investment. There are also less qualified agents to assist buyers and sellers so those that make the effort will get the listings and take the offers.

My focus will be on learning, finding more effective ways of marketing to buyers, sellers and agents, building business networks, delivering great service and being more than just an agent. We have so much to be thankful for in this country where owning property is a great privilege for most. Helping someone find a new home or selling there’s so that they may start a new chapter in their lives is what I love doing …….. Thank you for taking the time to read my blog, may you have a fantastic Festive Season filled with love, warmth and happiness and may 2012 be THE year, for you, your family, loved ones as well as your business.

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