First Impressions

“Don’t judge a book by its cover” ….. when it comes to Real Estate, Sellers can easily lose out on a potential buyer just because the “cover” of their “book” has been neglected.

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Unless a buyer is looking for a “fixer-upper” or maybe something he/she can get for a very good price (below market value) to fix up and then “flip” or use as a long-term rental, FIRST IMPRESSIONS are extremely important when selling property. Together with the aesthetic appeal of the property, price, location and general condition are probably the most important factors that buyers are look at.

FIRST IMPRESSIONS include everything a buyer will see at first glance when viewing a property. Many small things are sometimes overlooked by sellers / homeowners because they see the property every day. It doesn’t matter how big or how small the property is, if the property looks neglected from the outside, buyers WILL judge the book by its cover and assume the same goes for the inside …. this will also alert buyers that there may be other hidden problems / maintenance issues not clearly visible when viewing the property.

Even the photos that agents take for advertising purposes can have an influence and can either be to the sellers’ advantage or detriment. If you are currently selling your property through an agency, do yourself a favour and go have a look at the listing online. Look at the photos and read the description ….. you might be pleasantly surprised or shocked!

Before we sell a car, before we take it to a second-hand dealership to get a valuation or to trade it in on a new car, what do we do …… we take it for a wash or maybe even a full valet. We touch-up little scratch marks and polish the paint. Sometimes we buy new tyres, pray air freshener in the car etc. Why don’t sellers do the same with their properties? It will obviously cost a little more to repaint and to do minor maintenance but dressing up, fixing up and “de-cluttering” your house before putting on the market will definitely help to sell it faster and maybe even at a higher price. Here are a couple of things that we see every day that is a big let-down for property buyers:

  1. Uncut pavements, long grass, gardens with overgrown bushes and flower beds.
  2. Boundary walls falling apart, falling over, loose bricks, cracked / broken walls with large damp sections and paint that is flaking.
  3. Driveways with grass & weeds growing through the paving or cracks in the cement.
  4. Steel / wooden gates, doors & garage doors that are weathered, rotten, rusted, cracked and in need of attention or replacement.
  5. If you recently fixed some cracks on the outer (or inner) walls of your house, make sure you paint with the same colour / shade of paint than the rest of the wall, otherwise its better to paint the whole wall.
  6. Water marks / stains anywhere on a property is extremely negative, even if the geyser burst a year ago and left a little watermark on the ceiling which you forgot to paint, buyers will not believe you and think there is a problem.
  7. Gutters, down-pipes, plumbing pipes, fascia boards in need of repair or painting looks really bad. In sectional title complexes this will make the buyers think that the Body Corporate is in financial trouble or that the complex is not well-managed … a very big negative for buyers.
  8. Old carpets, bad odors, damaged cupboards, wooden floors that are lifting, chipped walls and any cupboard, window or door that doesn’t close properly are big turn-offs.
  9. Pools that are green any time of the year is a sure sign that there are problems.

The general condition of the property can go a long way assist with securing on acceptable offer. Your agent should also be able to assist you in pointing out the main issues that will need attention. Don’t sell yourself short ….. happy selling!

Transfer Duty (2017 Budget)

Mr. Pravin Gordhan has today announced that the Transfer Duty Tax Threshold for not paying any Transfer Duty Tax on the purchase of a property has been raised from R 750 000 to R 900 000 in the new 2017/2018 financial budget. #Budget2017

On current calculations (prior to the above change), buyers buying for R 900 000 for a property will pay costs as follows: Estimated amounts.

Property Transfer Costs:
Attorney fees: R 16 758.00
Transfer Duty: R 4 500.00 (to fall away in the 2017 budget)
Post, petties, FICA and other fees: R 1 200.00
Total Transfer Costs: R 22 458.00

Take into account that depending on the size of the bond, there are also bond registration fees payable as follows: Calculated on a 100% bond of R 900 000

Bond Registration Costs
Attorney Fees: R 16 758.00
Bank initiation fee: R 5 985.00
Post, petties, FICA and other fees: R 1 200.00
Total Bond Registration Costs: R 23 943.00

Total Costs on the purchase of a R 900 000 property with a 100% bond = R 46 401.00 (R 41 901.00 in the 2017 budget)

 

New-Look Blog

What do you think? Changed the theme for my blog ….. new and fresh. Although I share some personal info on my blog, it is mostly there to promote my profession and my business as a Business Owner & Real Estate Agent with Steyn Realty in Roodepoort, on the Westrand of Gauteng, Johannesburg, South Africa.

As part of all the marketing we do, blogging isn’t always that easy to “get to” but still a very effective marketing tool. Our marketing consists of the following:

  1. Boards & Dustbins – For Sale – To Let – Sold – Area Agent – Area Specialist – On Show etc …. extremely effective as many buyers, sellers, tenants & landlords drive around in the areas where the want to buy sell or rent and if they spot your details on a board you might get some business.
  2. Website portals – the main websites to advertise our property listings on are Property24 and Private Property. Other sites such as Myproperty, Entegral, IOL as well as our own website are also useful for lead generation. I must say, Entegral is doing a great job assisting estate agencies with real good-looking and user-friendly websites (not expensive) and easy to manage.
  3. Social media … need I say more. We have to be on them all … Twitter, Instagram, Facebook, LinkedIn …. and blogging of course. To follow all our profiles just click on the Social Networking on the home page and click to follow. We love engaging with our followers and answering any property / real estate related questions you might have.
  4. Networking ….. everywhere we go, we network, give out cards, chat to people take numbers and stay in touch as far as possible.

We are always looking for stock, Houses, Townhouses, Clusters, Flats, Estate Houses, Plots, Vacant Land, Farms or any real estate in the areas where we work ….. and we love selling. All our stock can be viewed in detail on http://www.steynrealty.co.za

Our areas where we work stretch from Sterkfontein / Krugersdorp in the West (we refer many buyers and sellers to an agency called RealPro who specializes in assisting buyers, sellers, landlords and tenants in that area). Pinehaven, Featherbrooke, Home Haven in the West all along Hendrik Potgieter towards Ruimsig, Amorosa, up the hill towards Helderkruin, Kloofendal etc. Around Clearwater Mall, Wilgeheuwel, Strubensvallei, Little Falls, Radiokop, Allen’s Nek towards Wilgeheuwel Hospital.

We do a lot of Sectional Title sales and Rentals although the last couple of months towards the end of 2016 and the start of 2017 we have assisted some more sellers, selling their Houses in the area.

If you or anyone you know are looking to buy, sell or rent out their property, we would love to assist. We can assist with free, market related valuations for selling or rental purposes. We advertise on all major websites and social media as explained above. We screen all our tenants through the TPN Credit Bureau and we also make use of the TPN Rentbook system to manage and invoice our tenants.

For more info on your own affordability and credit profile for buying property, please contact Sanette Payne of Payneless Bonds on 087 151 4712 / 011 662 2396 or email sanette@paynelessbonds.co.zahttp://www.paynelessbonds.co.za

For any legal queries regarding the transfer process, costs & fees or any legal issues regarding the transfer and registration of Properties, please contact Jolandie Pieterse at Truter Crous & Wiggill Attorneys on 011 692 1640 or email jpieterse@tcw-rftn.co.zahttp://www.tcw-rftn.co.za

Thank you for reading this post, and remember, we love selling and we would love to assist you in the future.

Marnus – 072 264 7806 – marnus@steynrealty.co.za
Juanita – 083 604 1231 – juanita@steynrealty.co.za

Welcome to 2017

Welcome to 2017

…. not sure about you but 2016 was not a particularly good year for the Real Estate industry in SA. We saw the Prime Lending Rate go from 9.75% to 10.5% in the first half of the year. This, together with a couple of very negative and concerning economical and political movements put a bit of a damper on the market with most agents I spoke to reporting a drop in sales for the year.

Enough of 2016 and enough negativity over that market, the macroeconomical situation of the country and the dreaded word ….. “Politics” … blah blah blah … we have work to do and properties to market and sell.

2017 is here and we are going to “hook it” …. we are going to “hook it real good”. Stock in the Real Estate market is and always will be king! There are buyers for well priced properties. Although there are many factors that play a role like area (location), condition and specifications ….. “PRICE” will be the determining factor. If you price right, you will sell.

STEYN REALTY is serious about delivering an exceptional service to out clients being Property SELLERS, BUYERS, LANDLORDS & TENANTS. We have the experience, knowledge, marketing expertise, professional attitude and the drive to assist our clients with any Real Estate related query or assistance they might have. Where we can’t assist we will try to point you in the right direction. We have a list of professional and capable bond originators, attorneys, electricians, plumbers etc who we refer to our clients on a regular basis.

Buying or Selling Property is serious business and you need to team up with an Estate Agency who is just as serious about what they do. STEYN REALTY would love to assist you, no matter how big or small your property …. we do it all. We can also manage your rental portfolio, find, screen and place tenants on an ongoing basis.

If you are looking to Buy, Sell or Let-Out a property anywhere in the Roodepoort / Krugersdorp area or you know of someone who is struggling to sell please give us a call.

Marnus Steyn / 072 264 7806 / marnus@steynrealty.co.za / http://www.steynrealty.co.za
Juanita Steyn / 083 604 1231 / juanita@steynrealty.co.za / http://www.steynrealty.co.za

 

 

Fortune favours the brave ….

Here’s a mind-twister for a Monday ….. I believe that fortune favours the brave so …..

If properties in South Africa sell within 12 weeks of being listed, on average, why hang on to stock where sellers are not prepared to list with me at my valuation amount or even close to it. Why list your property (knowingly) at inflated values in the first place and then hope that buyers will come and make offers.

In the current market segment where we are selling (mostly R 500 000 to R 2 000 000) while taking into account the current market conditions and economic possition of the country, only the well priced properties are selling and shouldn’t take more than 6 to 12 weeks to get offers. I think it’s time that agents change their offering and sellers need to be aware of agents over-inflating property prices in order to secure mandates. Sellers are contracted to long-term mandates of 6 months (and more) which in my view borders on unethical conduct on behalf the agent and also point toward a very uninformed and stubborn (“not serious”) seller. 

As a SELLER (keep the following in mind):

1. Price your property right to sell

2. Choose your agent carefully

3. Discuss a well thought out marekting plan

4. Sign a mandate (mutual commitment)

5. Demand feedback and progress reporting.

As a result of the above, our offering will in future change to a maximum sole mandate term of 10 weeks at our recomended “Listing” price (Only) and will include all the bells and whistles of online and social media marketing / advertising, show days etc. If we can’t sell it within that time with the various marketing strategies we have in place, then we believe that no one will be able to.


To get your property LISTED and SOLD, call:

Marnus Steyn 072 264 7806 / marnus@steynrealty.co.za

Juanita Steyn 083 604 1231 / juanita@steynrealty.co.za 

#Roodepoort #Westrand #Wilgeheuwel #Radiokop #Strubensvalley #LittleFalls #AllensNek #HoneydewManor #Ruimsig etc etc 

Are you pricing yourself out of the market??

We live in the information age where information such as property values can easily be accessed by the public without the help of an agent or agency. Looking at the information on the various websites such as Property24 and Private Property, buyers can see which properties are well priced within the area where they are shopping. They won’t waste their time going to see the properties which are over-priced and will only focus on those ones that are priced according to the area average. There are some stunning properties out there but “PRICE” is still the main factor that will attract buyers.

If buyers are so well-informed, surely SELLERS should also be …. or not? As a seller, before you blame your agent for not selling your house quick enough, have you done the following?

  1. Do you know which properties in your street have recently sold and for how much?
  2. Do you know which similar size properties in your complex or estate have recently sold and for how much?
  3. Have you seen the condition of any of these properties that have recently sold around your property?
  4. Have you had a look on the websites, in the area where your property is situated, what the properties are listed for and how long they have been listed for? These properties will be your competition should you decide to list.

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A professional and experienced agent can assist you with all of the above and can provide you with the information, they also use their experience and industry knowledge to recommend a marketing / listings price at which the property should be marketed to get maximum exposure. By doing some of your own homework you will also see which agents are just out to “Buy” a mandate on your property and which are serious about their business. Give yourself enough time and evaluate the various valuations from as many agents as possible.

Don’t get sidetracked by the sales pitch …. Look at the marketing price and compare it to your own homework.

Factors such as the area, location, specifications, offering, overall condition, finishes and security (to mention a few) are also very important in determining the price but in the end, if two properties offer the same and they were listed for the same price, the property that is in a better condition will sell quicker at a price closer to the asking price (or even for the full asking price) than the one that is not in a good condition. If the one which is in a good condition is far over-priced, out of the area average / market buyers won’t be interested.

Fashionable_Businessman-051.pngBottom Line: Properties that are priced correctly will sell within 12 weeks of being listed ….. If it hasn’t sold within 12 weeks, your problem is the “PRICE” and your agent should have alerted you to this. Ask yourself the following question: “As a buyer, looking for the type of property that you are selling, would you consider buying your own house at the asking price you are asking?”.

For an honest, free, no obligation assessment in writing of the value and possible selling price of your property in any area from Sterkfontein, Honingklip & Pinehaven in Krugersdorp & Roodepoort all along Hendrik Potgieter to Radiokop & Allen’s Nek including Helderkruin, Constantia Kloof, Kloofendal and Weltevreden Park …. give Steyn Realty a call, we can assist. We also specialize in rental portfolio management and procurement of tenants.

Marnus Steyn / 072 264 7806 / marnus@steynrealty.co.za

Juanita Steyn / 083 604 1231 / juanita@steynrealty.co.za

http://www.steynrealty.co.za

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