Cape Town’s property market is in the doldrums with house prices across the city in steady decline.
Upmarket areas along the Atlantic Seaboard and in the City Bowl are taking the biggest hit.
In the second quarter of 2019, year-on-year prices plummeted by 3.7 percent and 5.7 percent respectively.
More homes on market than buyers
For people looking to sell their homes, reports relating to the FNB’s quarterly property survey don’t make easy reading.
A toxic blend of oversupply by developers, lack of interest from foreign buyers, and a sustained wave of emigration means there are more homes for sale in Cape Town than there are buyers.
Best properties are selling – at slower rate
That said, well-maintained and realistically priced properties in the best areas of Cape Town are still selling, but at a slower rate than during the boom days.
How can you expedite the sale of your home in these tough economic times?
Here are a few tips to help you the find the best buyer at the right price.
1. Find the right estate agent
Your choice of estate agent is crucial.
Ideally, you want an agent who is enthusiastic and experienced with a proven track record of closing deals in your neighbourhood.
Get referrals from neighbours and invite two or three agents to your home to discuss marketing strategies.
2. Harness the power of technology
Tech-driven estate agents use the power and convenience of web-based and mobile technology to manage the property sales process.
Companies like Leadhome Properties offer a full-service option for both buyers and sellers in Cape Town.
3. Post images of your property
Don’t rely on one sales and marketing avenue.
Use technology to your advantage by posting images of your home on Instagram, Facebook and WhatsApp groups.
Ask people to share your post – word of mouth is still effective.
4. Consider a private sale
You can opt for a private sale by advertising your home on all major property portals.
If successful, this cuts out the commission you would pay an estate agent.
Property24, Private Property and Gumtree provide great exposure and are free or available at an affordable rate.
5. Set a market-related sales price
If you want your home to sell quickly, put it on the market at a realistic and competitive price.
An agent’s valuation is usually a fair estimate of what you can expect to get in current market conditions.
Also, websites like Property24 provide up-to-date information on current property trends and average house prices in your area.
6. Make your home clean, tidy and inviting
A viewer’s first impression is the one that counts.
Present your home in its best light so that buyers imagine themselves living there.
Out with chaos and in with calm. Here’s how.
Start with the approach to your home
Improve your home’s curb appeal by cleaning, cutting, trimming, tidying and styling the outside landscaping.
Also, buy a new doormat. Paint the front door. Ad make the entry clear and inviting (remove shoes and bags).
Clear out the clutter
To make a home feel light and spacious – and make it easier for a buyer to imagine making it their own – take these steps:
- declutter shelves and depersonalise rooms
- organise cupboards, drawers and wardrobes – people will peek in
- clear out excess furniture, knickknacks and bulky items likes bikes and surfboards – rent storage if necessary.
Touch up and deep clean
In most cases, making a house look (and smell) good doesn’t have to cost a fortune.
Take these steps to help you sell a home in Cape Town, or anywhere else:
- repair anything that’s broken or visibly weathered – from windows to doors, tiles to trims
- patch and paint – give your walls a coat of neutral paint
- neutralise odours and remove pet litter trays
- invest in a professional cleaning service to make your home spotlessly clean.
