Sellers, reduce the time your property spends on the market

PUBLISHED 29 MAR 2018   

Stephen Keyter is a real estate agent in the Northern Suburbs.

According to Keyter, unrealistic expectations by sellers, both with regards to price and the time required to sell, often ignore very obvious factors detracting from the home’s appeal. 

If, for example, a home obviously needs an overhaul, a wide range of repairs or is badly positioned in relation to schools, public transport and retail centres, or if the home has a tenant in it at the time of the sale, there will inevitably be fewer willing buyers, and they will probably bid lower than what the seller believes is the right price, says Keyter.

Furthermore, he says if the seller declines to ‘play ball’ with the agent by restricting the times when he can bring buyers to the property or by not allowing them to place sufficient advertisements or to hold show days and place sign boards on the property boundaries, the sale will almost inevitably be delayed.

“Certain sellers, for whatever reason, do not want their neighbours to know that the house is up for sale. This can make the agent’s life very difficult indeed. Very often the neighbours have friends who may be potential buyers," says Keyter.

He says quick sales tend to result from the seller signing up a good agent and then fully trusting and supporting them in all they propose to do. This involves giving them a sole mandate in every case.