{"id":53426,"date":"2023-09-09T20:53:12","date_gmt":"2023-09-09T20:53:12","guid":{"rendered":"https:\/\/www.africa-press.net\/south-africa\/all-news\/how-to-sell-your-home-in-the-current-buyers-market-2"},"modified":"2023-09-09T20:53:12","modified_gmt":"2023-09-09T20:53:12","slug":"how-to-sell-your-home-in-the-current-buyers-market-2","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/south-africa\/all-news\/how-to-sell-your-home-in-the-current-buyers-market-2","title":{"rendered":"How to sell your home in the current buyer\u2019s market"},"content":{"rendered":"

Africa-Press – South-Africa. <\/strong><\/span>South Africa\u2019s property market currently favours buyers, and this could be concerning for property owners who want or need to sell.<\/p>\n

In a buyer\u2019s market, flat price growth, higher stock levels, greater urgency among sellers, and a favourable bank lending environment, all combine to favour buyers, despite the higher interest rate.<\/p>\n

So, while buyers are able to find good deals in the market and secure favourable rates on a mortgage loan, Samuel Seeff, chairman of the Seeff Property Group, says the challenge for sellers right now is how to sell in a buyer\u2019s market.<\/p>\n

One of the first things that happen in a buyer\u2019s market, he explains, is that there are fewer buyers around to compete for the greater number of properties on offer. This usually means offers are slower to come in and, when they do, buyers tend to offer lower prices.<\/p>\n

\u201cIn contrast, when the market favours sellers and there is a shortage of properties, sellers are usually able to find quite a few interested buyers and can generally bank on a favourable offer and price.\u201d<\/p>\n

Therefore, it is not so easy to sell in a buyer\u2019s market when you really need to. The first thing to consider if you do have to sell is to avoid the temptation to overprice your property. The days of fast offers and high prices are now largely gone according to Seeff\u2019s agents. Instead, the market is now dictating prices.<\/p>\n

Furthermore, if you are selling right now, you may well be competing against three or four similar properties in your area or property category in the same price range. Thus, unless your property is offering something more than those competing properties, your chances of success may depend on your price. You therefore need to trust and listen to your agent.<\/p>\n

\u201cBe careful of agents who are just looking for your mandate. Rather work with an agent who can show their record of recent sales. Be open and upfront about your needs so that the agent can ensure no time is wasted to find a buyer for your property.\u201d<\/p>\n

You should also consider all offers, and remember than an offer often presents the opportunity to negotiate. So if each party gives a little, you might still be able to make a favourable deal, Seeff says. You should also consider that you may not get a higher offer.<\/p>\n

You should also think about the time value of money.<\/p>\n

\u201cIf you sell now, you may also be able to take advantage of the favourable buyer\u2019s market conditions and find a better price for the new property that you wish to purchase. If you wait for a higher price, you may have to also pay a higher price.\u201d<\/p>\n

For More News And Analysis About South-Africa<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – South-Africa. South Africa\u2019s property market currently favours buyers, and this could be concerning for property owners who want or need to sell. In a buyer\u2019s market, flat price growth, higher stock levels, greater urgency among sellers, and a favourable bank lending environment, all combine to favour buyers, despite the higher interest rate. So, […]<\/p>\n","protected":false},"author":84,"featured_media":53425,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[274,315,275],"class_list":["post-53426","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-south-africa","tag-south-africa-2"],"yoast_head":"\nHow to sell your home in the current buyer\u2019s market - South Africa<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/south-africa\/all-news\/how-to-sell-your-home-in-the-current-buyers-market-2\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How to sell your home in the current buyer\u2019s market\" \/>\n<meta property=\"og:description\" content=\"Africa-Press – South-Africa. South Africa\u2019s property market currently favours buyers, and this could be concerning for property owners who want or need to sell. In a buyer\u2019s market, flat price growth, higher stock levels, greater urgency among sellers, and a favourable bank lending environment, all combine to favour buyers, despite the higher interest rate. 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