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SELL THROUGH STEYN REALTY

I recently posted this article on our website in an attempt to notify sellers and future property sellers as to the potential pitfalls / costs when selling.

Just in the case of purchasers who need to do their homework before buying, making sure they are credit worthy and what they can afford, Sellers also need to do their homework ….

While touching on a couple of other issues, the article aims to outline most of the potential costs that Sellers may be responsible for during the sales and registration (transfer) processes. It covers the following:

  1. Avoiding Penalty Interest
  2. Bond Cancellation Costs
  3. Compliance Certificates
  4. General Condition of the Property and
  5. Nomination of the Transferring Attorney Firm.

You can read the article by clicking on the link below.

CLICK HERE

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For any sales or rental related queries or to get your property listed in the Roodepoort, Ruimsig, Wilgeheuwel, Little Falls, Constantia Kloof and surrounds …. please contact!

Marnus Steyn – 0722647806 / marnus@steynrealty.co.za

Juanita Steyn – 0836041231 / juanita@steynrealty.co.za

http://www.steynrealty.co.za

 

Where is TIME going …?

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August 2016 …. 5 months into our own business and more than 11 years in the Real Estate Industry and here we are …. still going “strong”.

PROPERTY

During the last 5 months we have done a fair amount of transactions ranging from R 2 000 000 to R 500 000 but we need more, much more. We pride ourselves on being pro-active when it comes to marketing and advertising of our stock, technology and the quality of our service, feedback, knowledge and professionalism.

Buying or Selling property is a massive decision and we take it very seriously. We have the necessary knowledge and experience in selling residential homes / clusters as well as sectional title townhouses and apartments to make sure that our clients are in good hands and get the right advice. We also offer rental procurement and management services where we offer a complete service through the TPN Rentbook and TPN Credit Bureau systems.

We get enquiries for sales and rental stock on a daily basis and we need more stock to show our buyers and tenants.

If you are at all looking to SELL or LET OUT your property, please give us a call or an email so we can assist. We cover quite a large area from Pinehaven in the West all the way along Hendrik Potgieter up to the Wilgeheuwel Hospital area in Radiokop. We are also looking for properties in Helderkruin, Kloofendal, Constantia Kloof and Weltevreden Park.

We can be contacted as follows:

Marnus: 072 264 7806 / marnus@steynrealty.co.za
Juanita: 083 604 1231 / juanita@steynrealty.co.za
Our website is: http://www.steynrealty.co.za
We are also quite busy on social media where you are welcome to follow our tips / hints / latest stock and industry related news updates and info ….

For our Facebook page ……. Click here
For our Twitter feed ……. Click Here
You can even follow us on Instagram ….. @steynrealty

We would also love to hear your views and thoughts on the SA Real Estate industry so please interact and give us you opinion.

\WE CAN HELP

 

Time to Blog

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So, I haven’t blogged about our new agency yet …… Steyn Realty.

We are happy to report that the wheels are off the ground and we are flying. We will be assisting buyers, sellers, landlords, tenants with real estate related matters, listings, advertising, marketing, selling, letting and managing in the following areas:

From Pinehaven to Radiokop including Featherbrooke, Amorosa, Ruimsig, Tres Jolie, Poortview, Honingklip, Sterkfontein, Helderkruin, Kloofendal, Weltevreden Park, Little Falls, Wilgeheuwel, Strubensvallei, Honeydew Manor, Honeydew Ridge, Allen’s Nek and Constantia to mention a few.

Have a look at our new website at http://www.steynrealty.co.za and give us call so we can assist you.

What Sellers need to know.

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So you want to sell your property, could be the house you stay in now or maybe another that you have bought some time ago for investment etc. The first thing you do as the seller is to think about PRICE. What can I / we sell this for?

With all the information available to buyers and sellers these days it is quite possible for sellers to take all of this information into consideration to get to an amount. What sellers need to know is that a lot of the information floating around on the internet and in property publications and booklets are or could be misleading. Take the property publications and ads on the internet sites for instance. Many of the properties advertised on these platforms are over-priced, have been on the market for a long time and just because they are in the same complex, estate, area or street as your property, doesn’t mean that you can price your property accordingly.

Although it gives us an indication, it is a known fact that over-priced properties take a very long time to sell, they become stale and then eventually sell for a lot less if they sell at all. It also doesn’t help talking to sellers in the area as many of them won’t tell you if their property sold for much less than the asking price. To get to the accurate selling price for your property the following needs to be taken into account:

1. Recent Sales: Recent selling prices of similar properties in the complex, estate or area. This is easier in sectional title complexes and estates than in normal residential areas unless the agent knows the properties that have sold and he/she can can also compare specific specifications.

2. Buyers Needs: Experienced agents know what buyers are looking for. Sellers need an independent view on this from an agent that is not emotionally attached to the property. Everything from the layout of the property to the specific finishes, storage space, lighting, garden size and privacy could be issues that are very different from one buyer to the next.

3. Defects, Declaration and Costs: Defects and the general condition of the property is a very important factor. Neat and well maintained properties sell quicker and at better prices …… that’s an industry standard unless you are buying a “fixer-upper” when a whole new set of rules will apply. All possible defects and the general condition of the property has to be documented and declared to the agent so that the buyer can be made aware of the situation. Buyers need to know what they are buying and they will be looking to the agent to declare this. All costs associated with the property need to be declared and documented such as rates and taxes, levies, additional security and maintenance levies etc.

4. Availability: Availability for viewing is sometimes a big problem. Especially in properties where there are tenants that are scared that the property will be sold. Agents will need access to view the property. Most buyers view on weekends and after hours and if that doesn’t suit the seller, well then you might just as well take your property off the market.

5. The Market: We are still in a Sellers Market which means that, taking all the above into consideration, sellers should be able to get slightly higher or at least close to asking price for their properties, if they are priced correctly. With interest rates and stock being low, this is a good time to sell. Buyers also get the benefit of low rates but unfortunately supply is a problem if you don’t find what you are looking for.

6. Commission: Sellers need to account for commission of +/- 5% to 7% of commission to be paid to the mandated agent or the agent who introduced the property to the buyer. This needs to be negotiated and agreed on and documented before the agent starts to market the property.

Determining the market related price of a property to secure a successful sale at the highest possible price with the best possible conditions is serious business and should be left to a property professional. For property sales on the Westrand, Krugersdorp and Roodepoort, contact me on 072 264 7806 / marnus@realpro4u.co.za

It’s about more than just selling houses …..

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As an agent, you want to be successful and earn loads of cash ……. right!!!?

You might not know this but not many agents (none that I know of) work at agencies where they are paid a set / basic monthly salary. In the sales industry, as in the wild, agents are the hunters / predators and they only eat when they kill. Agents work on a variety of different commission structures where they earn anything from 50% to 90% commission after VAT, PAYE and other monthly administration costs are deducted by the agency and this is how they get to earn all those cash ……. but it comes at a price. The price agents pay for the opportunity to earn a very good income is the fact that if you do not have any successful property registration, you won’t earn a cent. The economic phenomenon is called high risk = high reward, and its true!!

All successful agents I speak to have one thing in common ……. they have been in the industry for some time and they all agree, it’s not about selling houses. So what is it all about …….?

Here are some factors that play a HUGE role in the success of agents (apart from the normal salesman characteristics).

1. Industry Knowledge
Without this you are dead in the water. You need to know what is happening in the arena where you are playing / competing. There is a lot of competition out there and if they know more than you …… you are out!

2. Area Knowledge
What is selling, where is it selling, when did it sell, for how much did it sell, what is not selling and why, what developments are happing in the area, crime, schools, shopping centres, buss routes, taxis etc etc …… if you know more about the area than your competition …… you are in!

3. Database & Client networking
You need to keep track of your potential / past and present buyers and sellers and follow up regularly. Buyers need to be updated with new stock and industry changes that might affect them. Seller need to know about market changes that might affect the sale of there property.

4. Stock
You need to have stock. You need to have targeted marketing & farming campaigns in your specific area. These marketing and farming initiatives need to be aimed at specific buyers and sellers and need to be regular and continuous in order to have an affect. “He who has the most stock, controls the market ……”

5. Client relationships
The longer you stay in the industry, the more you will realise that past clients can be a major source of income further down the line. If you keep reminding homeowners that you are still actively working in their area, they are more likely to ask you to assist them next time they want to up or downgrade.

6. Integrity / Honesty and Business ethics
This is not a quick money making scheme. Agents approaching the industry with that mentality normally don’t last very long and when they leave, they have such a bad reputation that they won’t be able to return to the same area as agents. Keep your side clean, be honest with you buyers and sellers and they might even refer you to a friend or colleague ……. and that’s what you want, referrals!!

Each agent has his / her own way of doing busyness, own strong points and weaknesses and the areas where we work also differ a lot. Keeping the above in mind and incorporating some of this into your own busyness can hopefully assist in your success.

Have a good one
Marnus
Your Agent

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.

Pricing Right

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Q: How can I make sure that I don’t “over” or “under” price my property. I want to sell for as much as possible!

A: Well firstly, you are not alone in wanting as much for your property as possible, but what is realistically possible? The value of your property is directly linked to factors such as area, specifications and condition …. many other factors also play a role such as a buyers personal taste but we can’t take that into consideration. We do however know that most buyers see aspects such as a busy street or staying on the boundary of a complex as negative.

Taking all of the factors into consideration, the Banks for instance, in granting a Bond to a buyer also look at resent sales in the area. Although they do not always know the condition of the property that has recently sold, it gives them an idea of the value in the specific area. Pricing your property too high and getting an offer might result in the Bank not finding value to grant a bond and then it is back to square one.

Valuations are more accurate when it comes to Cluster or Townhouse developments as most of the units are very similar in size and finishings. After all of this, any decent agent, specialising in your area and type of property should be able to give you an honest valuation on Marketing and expected Selling price. We also know most buyers assume that all Sellers are negotiable but this is not always the case and pricing your property right could mean that you are more likely to get a full offer.

There are many systems and stats to aid agents with valuations but the best valuation comes from personal experience!

Some agents will try to value your property high with the hope of getting a mandate and then over time, work the price down. Other agents will value very low hoping for a very quick sale

Somewhere in the middle, between these two, is a value that is still a good buy for a Buyer but also a good deal for the Seller.