Selling a property is a big deal, but there could be a significant problem if you don’t receive any good offers within 30 to 60 days.<\/p>\n\n\n\n
This is according to the manager for Seeff Centurion’s Tiaan Pretorius, who said something may be wrong if a property does not receive any appropriate offers within the first month or two. <\/p>\n\n\n\n
He said that, depending on the area, only a portion of properties listed on the market tend to sell during a year. This means that a property has to stand out. <\/p>\n\n\n\n
Although the price is often the main reason the property is not selling, Pretorius noted that it is not always the only reason.<\/p>\n\n\n\n
Pretorius gave many reasons why a property may not be selling as fast as the seller wants it to.<\/p>\n\n\n\n
Reason #1 \u2013 The price is too high.<\/strong> <\/p>\n\n\n\n This is often the main reason a property is not selling. <\/p>\n\n\n\n The price should be competitive relative to similar properties in the area. <\/p>\n\n\n\n Sellers often believe their properties are worth more or are misled by incorrect information, which delays the process as the price may need to be adjusted downwards.<\/p>\n\n\n\n Reason #2 \u2013 The market is slow.<\/strong> <\/p>\n\n\n\n The high interest rates over the last year and a half have slowed the market. <\/p>\n\n\n\n This has resulted in fewer buyers with a far more comprehensive selection of possible properties. <\/p>\n\n\n\n This reflects a longer sales process, especially for those at the higher end of the market. <\/p>\n\n\n\n There could be some relief in the near future for sellers, with the South African Reserve Bank set to cut rates even more, following a 25 basis point cut last week. <\/p>\n\n\n\n
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