The Property Transfer Process: Part 1 Getting the Property on the Market
Category Home Buying/Selling Tips
Whether you're looking to buy or sell for the first, second, or fifth time, the transfer process for property exchange can be a little difficult to follow unless you are skilled in the property industry. In this four-part series, we will explain the transfer process from start to finish to give you a better understanding of the steps in changing ownership.
Read here and discover the first step in changing property ownership and the importance of having a broad marketing plan.
1. Decision to sell
The decision to sell your property is not to be taken lightly and warrants careful consideration. Generally, people sell their homes for very good reasons, such as a death, a divorce, financial issues or possibly because they are relocating to another province or out of South Africa. This information is to be shared with your agent of choice so as to enable them to price the house correctly which will then lead to a swift and seamless transaction.
2. Finding the right agent
A seller will want the assistance of a reputable estate agent who is familiar with their area. By investigating signboards stating FOR SALE and SOLD the seller will soon understand which agencies and which agents, in particular, have a high success rate of selling homes within the neighbourhood. The seller should contact and meet with the agent as soon as possible for an insightful home evaluation.
3. Preparing the plan
Once the agent has evaluated the property, he or she will begin to work on an effective marketing plan to showcase the property's availability across a variety of platforms. The agent will call in a professional property photographer in order take the most flattering photographs for marketing purposes. The seller and agent will then agree on the dates for show days and sign either a 60 day or a 90 day sole mandate thus putting their property in the best capable hands for selling. Not sure if a sole mandate is the right direction for you? Read here and learn the five key advantages a sole mandate provides: http://ow.ly/NqBd30nziCm.
4. The show day
After the sole mandate is signed, the agent will assist the seller in preparing the home for the show day. This preparation may include a few small renovations, decorating, and preparing to open the home up for the day by taking children and pets away from the property. The agent will advertise the property across a range of different platforms to ensure that any potential buyers are aware of the property on sale. These platforms include: newspapers, magazines, social media, and websites.
Buyers who are very keen to view the property may call the agent directly and ask for a private viewing, so it is vital to have the home ready for viewing the moment it has been marketed. It is important for sellers to avoid the trap of over-pricing the property as this will have a negative impact on buyer perception when the price continues to fall without being sold as well as lead to a tedious process of the property not selling.
Look out for the next step in the property transfer process and discover all the players involved in the successful sale of a home. If you are looking for a talented, insightful and skilled real estate agent to help you sell your property, click here and meet our team of amazing agents. http://ow.ly/jM4Z30nziHF
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Author: Lillian Rencken
