How to move a stagnating property

How to move a stagnating property

It has been tough times on the horizon for the residential property market. And this has been shown in various ways. 

One such is the amount of time a home is now on the market. On average, houses are now on the market for a lot longer. This according to the bank’s Estate Agent Survey which states:  

“The current average a home is on the market is 16 weeks and four days, “noticeably” higher than the 11 weeks and one day in early 2016. This clearly indicates an imbalance when it comes to the supply and demand of homes.” 

Therefore how do you move a stagnating property? Here are a few suggestions. 

Sellers can drop their asking price 

If a seller is serious about selling now, they’ll need to price the property realistically and make their selling priceless. Also ensure the property is in the best possible condition, enlist the help of a professional agent and give consideration to all serious offers. 

Consider Emigration selling of your property 

Emigration-related selling has risen noticeably since 2013 on the back of weakening sentiment in South Africa often related to concerns over long term policy and political direction.  

Or spruce up your home  

To increase its value it’s a sound financial investment. Before you put your house on the market, ask your real estate agent for guidance on improving your home’s presentation. Your agent can tell you what buyers expect in your particular market and at your home’s price point. 

Also renovating your home doesn’t really have to cost you an arm or a leg. You can do something as simple as making it sparkle. Cleanliness implies a home has been well taken care of. Buyers scrutinise homes, especially kitchens and bathrooms. So deep cleaning can win points with buyers.

Categories: Financial tips