The property market in the Upper Highway area can be described as operating in a ‘bubble’, which Dave Jones of Seeff Hillcrest, Kloof and Waterfall says is not about to burst. “If anything, the market in this area shows a consistent number of sales of around 1100 properties each year. However, what has changed in the last 18 months is that the normal stock holding of 600 properties on the market has moved up to the area’s highest stock holding in history, with the current availability of 1196 properties for sale. With this interesting dynamic, sellers have the challenge of engaging with professional agents in order to sell their property at a market-related price, within a reasonable amount of time, which is best described as within a 4-month window period.”
Jones says that the effort put into the sale of a property is a collaboration between seller and agent, where commitment on each side is equal and is based on a professional written valuation from the agent and a written marketing plan for the sale of the home, with specific actions for service delivery.
He has been selling property for 25 years, including selling over 450 properties in the Upper Highway area, and recently engaged with Maureen Horne in selling her townhouse in Hillcrest so that she could move into a retirement home in Pinetown. He describes the process: “I met Maureen at one of my many showdays, and she chose to work with me and the Seeff brand to sell her townhouse in Hillcrest. The process of selling her home occurred during the recent explosion of stock availability for sale. The agency commitment to the seller in terms of ensuring superior internet visibility through professional photography and videography with voice-over and drone footage was supplemented by regular showhouse activity.
“An aspect that is often overlooked is the consistent effort required on the part of the seller in order to prepare their home for sale, and particularly for showdays. Fortunately Maureen’s efforts paid off, and her property sold for just 5% less than the asking price as a result of one of these showdays.”
Before moving to her retirement home Maureen gave Dave a gift of an embroidery piece that she had completed in 1956. She also invited him to have tea with her in her new home in Pinetown. At this visit Maureen told him that she did not miss her old home, and that she had established a new home on her own, complete with a fresh garden and her trademark chandeliers. She also confided that she had contracted leukaemia, but said she “had no time for that” and would go for her blood test after her new garden was established.
Dave adds: “Maureen is 80 years old and it is easy for me to say as a property professional that I admired her. As a seller Maureen based her continued relationship with Seeff on accurate market information, and as the market exploded with stock for sale she took note that she had 62 competitors in her price category. She chose to follow the advice of the agency to adjust her asking price in order to be competitive. These decisions work best where there is a relationship of open collaboration between seller and agent.”
Contact Dave Jones of Seeff Hillcrest, Kloof and Waterfall on 082 445 8771 or davejones@seeff.com.
Author: Leverne Gething, 11 March 2019, Client Focus