Nadia Marais, Owner Namar Properties
Misbeliefs and bad information make for a dangerous combination. If you have ever been involved in a sale or purchase of a property, friends and family have almost certainly felt the need to share their knowledge on the topic, however not everything we see or hear is true.
MYTH: LEAVE ROOM FOR NEGOTIATIONS WHEN SELLING YOUR PROPERTY.
Correctly pricing a property is one of the most important tasks throughout the sale. Well priced properties generate a ton of interest which results in multiple offers over a short timeframe, while an overpriced property risks losing potential buyers. With information readily available on the internet, savvy buyers won’t waste their time on an overpriced property.
MYTH: THE AGENT KEEPS ALL THE COMMISSION.
Commission is legally paid to the agent’s employing brokerage company, which in turn pays the agent. No matter the situation, the amount paid to the agent is not the entire commission. Shocker! Right? A portion will go to the brokerage (in order to keep the place running), another portion is spent on advertising, and so on, only then will the agent receive their split – which is also taxable!
MYTH: RENOVATIONS WILL INCREASE YOUR PROPERTIES VALUE.
Many homeowners planning to sell their property invest in expensive renovations with the aim of increasing their home sale value. However, some improvements can have the opposite effect and hurt a property’s market value if not properly researched or executed. History has depicted that no positive return on investment will be achieved if one over capitalises. Especially in South Africa, it’s all about location.
“Correctly pricing a property is one of the most important tasks throughout the sale. Well priced properties generate a ton of interest which results in multiple offers over a short timeframe…”
MYTH: SCHOOLS DON’T MATTER IF YOUR DON’T HAVE CHILDREN.
UNTRUE! Homes in more desirable school districts cost more. You’ve got to think about what will yield the best return on investment during resell. The better the school district the more likely a fast close at the price you’re wanting. Namar Properties core passion is investment property, in partnering with us one will gain valuable knowledge on investment tips and tricks.
MYTH: OWNING A HOLIDAY HOME IS A WASTE OF MONEY.
Even seasoned homeowners are unaware that this point is a myth. If managed like a business, a holiday home can be a great investment. Since these homes are mostly located in high-demand areas, they are often rented out at tourist rates – meaning that even moderate occupancy can allow one to break even on the loan payments. Carefully factor in all expenses and some family time to enjoy this home in a dream location and this will be a huge success!
MYTH: WEEKENDS BRING OUT THE MOST SERIOUS BUYERS.
Contrary to popular belief, the most serious showings tend to happen during the week. Open houses or community events tend to mostly bring out nosy neighbours and voyeurs curiously seeking out new home décor ideas or to see how other people live.
MYTH: ALL AGENTS ARE THE SAME.
If you believed that myth you wouldn’t be reading our article! This myth is BUSTED after dealing with any agent from Namar Properties and discovering our agents’ unique approaches to the real estate game!