A Seller's Guide to the Real Estate Market

Moving Planner

Moving to a new home could be stressful, to say the least. Make it easy on yourself byplanning far in advance to ensure that you cover all the bases.

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Plan ahead by organising and budgeting

Develop a master 􀀔to do􀀗 listto avoid forgetting something critical on moving day, and to create anestimate of moving costs.

Sort and get rid of things you no longer want or need. Sell, donate to acharity, or recycle.

Pack similar items together. Pack toys with toys, kitchen utensils with kitchen utensils etc. It will make your life easier when the time comes to unpack.

Decide what, if anything, you plan to move on your own.  Precious items such as family photos, valuable breakables, or must-haves duringthe move should probably stay with you. Do not forget to keep a"necessities" bag with tissues, snacks, and other items you may need thatday.

Use the right box for the item. Loose items are prone to break.

Put heavy items in small boxes so they're easier to lift. Keep the weight of each box under 10kg, if possible.

Do not over-pack boxes. It increases the likelihood that items inside thebox will break.

Wrap every fragile item separately and pad bottom and sides ofboxes. If necessary, purchase bubble-wrap or other packing materialsfrom your moving company.

Save on wrapping cost and space. Use your linen and towels to wrapfragile items in. It will double up on space and save money on packagingmaterials.

Label each box on all sides. You never know how they'll be stacked andyou do not want to move other boxes aside to find what you want.

Use colour-coded labels to indicate which room each item should beplaced in. Colour-code a floor plan for your new house to assist movers.

Keep your moving documents together in a file. Include importantphone numbers, driver's name, and moving van number. Keep your address book handy.

Print out a map and directions for movers. Make several copies, and highlight the route. Include your cell phone number on the map. You do not want movers to get lost! Make copies for friends or family who are lending a hand on the day.

Back up your computer files before moving your computer. Keep the back up in a safe place, preferably at an off-site location.

Inspect each box and all furniture for damage on arrival.

Make arrangements for small children and pets. Moving can be stressful and emotional. Children could help organise their things and pack boxes ahead of time, but, if possible, it may be best to spare them from the moving-day madness.

Provide the post office with your forwarding address. This should be done two to four weeks ahead of the move.

Notify all your contacts, friends, relatives, business colleagues, organisations􀀾 specifically your banks, insurance companies, subscriptions, and memberships of your change of address.

Arrange to disconnect utilities and have them re-connected at your new home.

Check insurance coverage for the items you're moving. Usually movers only insure what they pack.

Note the weight of the goods you will be moving. Long-distance moves are usually billed according to weight, so beware of movers that use excessive padding to add weight.

Have a 􀀬first open􀀭 box. Fill this box with essential items such as toiletpaper, soap, refuse bags, scissors, hammer, screwdriver, pencils, paper,cups, plates, water, snacks, and toothpaste.

If you're moving out of town, be sure to:

  •  Obtain copies of medical and dental records and prescriptions foryour family and pets.
  •  Have copies of children's school records for transfer
  •  Place plants in boxes with holes for air circulation should you bemoving in cold weather.



Perparing your home for selling.

First impressions count with buyers - you do not get a second chance to make a good firstimpression. A small investment in time and money will give your home an advantage overcompeting homes in your neighbourhood. This checklist should give you an idea of thingsyou could do to ensure a positive reaction.

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Maintenance

  •  Repair leaking taps and toilets
  •  Tighten doorknobs and cupboard latches
  •  Touch up chipped paintwork and repair cracked plaster
  •  Clean and repair around baths and basins
  •  Replace blown light bulbs
  •  Oil squeaking doors

Cleanliness

  •  Clean and freshen bathrooms and toilets
  •  Clean sink of dirty dishes
  •  Clean refrigerator and stove
  •  Clean and freshen carpets and curtains

Create Space

  •  Clean rooms and stairs of clutter and store any surplus furniture
  •  Clear kitchen counters
  •  Ensure that your cupboards are tidy

Outside Appeal

  •  Cut lawns and trim hedges and shrubs
  •  Weed and edge flowerbeds
  •  Pick up litter
  •  Rid driveway of leaves and grease stains
  •  Touch up paintwork
  •  Repair loose doorknobs, sticking doors and cracked window panes

Create Buying Mood

  •  Arrange to be absent during 'showing􀀩
  •  Avoid children tagging along
  •  Leave showing to property sales advisors
  •  Allow the sales advisor to discuss price, terms and other factors withclients
  •  Draw curtains and turn on all lights (if dusk or evening)
  •  Turn on air conditioning / heating
  •  Play quiet background music
  •  Add charm with flowers
  •  Never apologise for the appearance of your home

Before Photographing

  •  Please ensure that the creepy crawly is removed out of the pool (at least Ihour before photos are taken to allow the terrace/deck to dry)
  •  All toys and dishes packed away, clear kitchen counters, cleaningmaterials and non necessary belongings etc out of sight to ensure anuncluttered and spacious feel
  •  Inform Engel & Völkers when you feel the best time to photograph your house would be (morning/afternoon sun)
  •  Please ensure that your property is in Show House condition to allow the photographs to show your home at its best
  •  Consider placing fresh flowers, orchids or pot plants in your home




Pitfalls of overprcing

At any given time there are buyers in the market looking for newly released properties. As most genuine purchasers will see the property within the first two to three weeks of it coming onto the market, it is vitally important to price it correctly from the start.

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 Forced to act drastically or wait for change

The seller will now either be forced to reduce the asking price drastically to reactivate the market or hold out until the market picksup, or inflation catches up and the inherent value of the propertyincreases.

Perception of desperation

As time passes, buyers assume that the seller is getting desperate andmake even lower offers often resulting in the seller getting more andmore agencies working on the property and looking even moredesperate.

Misplaced loss of confidence in your property sales advisor

The outcome of this fiasco is that the seller loses faith in the propertysales advisor and the company. The mandate expires, and a second orthird agency is appointed and signs the mandate at the true value of theproperty.

The final outcome of over-pricing

Buyers then see the same property on the market, again reduced. Nowlooking for a bargain they make a low offer and it is sold at far belowthe original true market value.

The temptation to start off at a higher price

Often sellers make the mistake of insisting that their property is offeredto the market at a price slightly above the current market value in thehopes of increasing their profit margin. Or they argue that buyers make alower offer so they might as well start high.

Why setting the price too high does not work

  •  Buyers purchase property by comparison

If the seller is asking too much compared to other availableproperties, buyers will either discard the idea of making an offer onthe property or make an offer far below what it is actually worth. Theywill rationalise that if the seller is being 􀀔ridiculous􀀗 in their askingprice, they have the right to be equally ridiculous in the price theyoffer.

  •  Negative perception of the property

Overpriced properties stay on the market for far too long. As buyerssee the property advertised over and over again, they will begin towonder if there is something wrong with it.


Remember: The listing price of your property should be within your CMA norms and it should offer reasonable valuefor your area. A correctly priced property sells in 6 􀀲 8 weeks at the valuation price and an overpriced propertysells in 5 􀀲 6 months at 20% under market value.

Engel & Völkers

Kwazulu Natal North Coast
Shop 14 Umhlanga Centre, 185 Ridge Road
4320 uMhlanga Rocks
South Africa
Phone
+27-31-561 4353

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Contact

ENGEL & VÖLKERS • North Coast • South Africa

Shop 14, uMhlanga Centre

185 Ridge Road, uMhlanga Rocks 4320

Postnet Suite 210, Private Bag X01

uMhlanga Rocks 4320, South Africa

Phone: +27(0)31 561 4353

E-Mail: kznnorthcoast@engelvoelkers.com


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