As the market transitions to favour buyers, it is becoming ever more important for sellers to stand out from the crowd - especially if they want to achieve the optimum results when putting their home on the market. This is according to Adrian Goslett, Regional Director and CEO Of RE/MAX of Southern Africa, who says that while there are buyers in the market, competition among sellers has started to heat up.
“Due to the current difficult economic conditions that many South Africans are facing, the market has slowed with many buyers adopting a wait-and-see approach to the housing sector. With a smaller pool of buyers in the market, sellers will need to focus on showcasing their home’s best features in order to gain a competitive edge over other homes on offer. This is the only way that they will be able to realise the property’s true sales potential,” says Goslett. “To sell a home at the best possible price within the best possible time frame requires two crucial elements - the right real estate professional and some effort on the seller’s part.”
Goslett says that there is no need for sellers to completely change their existing home or embark on a costly renovation project – it is simply about sellers looking at ways to highlight their home’s key selling points. “If done in the right way, subtle changes can make a big difference. Well-chosen, contemporary updates can revamp the entire home giving it a modern and fresh look and feel, without breaking the bank. A new coat of paint and tidying up is already a great start to ensuring that the home is in show-day condition,” he advises.
Goslett offers sellers a few additional pointers to have the property in top form on show day:
Kitchen
Often considered to be the heart of the home, the kitchen is possibly one of the most important areas. For many buyers, the kitchen can be the deciding factor as to whether or not they decide to purchase the home. An updated kitchen will increase the perceived value of the home and leave a lasting impression with potential buyers.
The kitchen will be completely reinvented and modernised by refurbishing the countertops and cupboards. Updating large appliances will also breathe new life into the space. Adding an island is also a functional way to add to the room’s aesthetic appeal, while entirely changing the area’s dynamic with additional counter space.
Bathrooms
Another area in the home that draws buyers in or has them heading for the door. Not much needs to be done in a bathroom for it to feel completely different. Just by changing the taps to a more contemporary style or adding a mirror can freshen up the look and alter the space. Modern lighting can also change the feel of the room and breathe fresh life into an outdated area.
Storage and organisation
While dependent on the space and layout of the home, installing additional cupboards or storage space will be a practical way to create a selling feature. Buyers are often looking for homes with ample storage capacity, so an extra cupboard, expanding existing cupboards or a walk-in pantry can become an extra selling point. Built–in shelves or a wall unit in areas with a lot of open wall space can also be a unique and interesting feature. These are generally relatively easy to install and will be a functional addition that could give the home added interest.
Flooring
If the home is carpeted, the carpets should be in good repair and professionally cleaned. This will make them look good and leave the whole house smelling great. If the carpets are not in a good state of repair, depending on what’s underneath it might be worthwhile to have them lifted. Many older homes will have wooden flooring underneath the carpeting, which can be sanded and revarnished. Wooden floors have always been a timeless feature that has once again come into fashion. In the instance where the home does not already have wooden floors underneath the carpeting, synthetic alternatives are available that look similar but cost far less. The right flooring option can make a room appear larger and will completely revamp its look and feel.
Outside areas and garden
The outside areas of a property will be the basis on which buyers will form their first impression of the home. Features such as decks and patios can impress, however, they aren’t always in the budget and are not necessarily needed to make the garden look good. A garden that is neat and well-kept will make an outstanding impression with buyers.
“Making sure that the home is in its best condition before it is listed will improve sellers’ chances of standing out from the crowd and achieving their highest possible selling price,” Goslett concludes.
