Selling Property Advise - Auction / Estate Agent / Private Property

[jezzad]

I sold my place within a month on Property24 (was also listed on Privateproperty, but the lead came from P24). Estate agents charge way too damn much.

Took my own photos. Just make sure the place is neat and lighting is excellent so that the photos come out clear. Be very descriptive about the property. More is more.

Thanks for the info, going to get the P24 photographer to come round and take photos and will add a lot of info to the description.

 

[surface]

I sold my place within a month on Property24 (was also listed on Privateproperty, but the lead came from P24). Estate agents charge way too damn much.

Took my own photos. Just make sure the place is neat and lighting is excellent so that the photos come out clear. Be very descriptive about the property. More is more.

Get the professional photos done via p24 or pp. Makes a huge difference for not that much outlay.

I hope many people take any such "professional" photos with a pinch of salt and not go by the razzmatazz done by some creative photoshopping. Hopefully, people actually visit & inspect the place properly before making decision.

As for myself, if I find too much contrast between the actual photos & the condition the property is in, that is a big red flag. I would rather have honest representation of property than dealing with a photoshop dishonesty. I get the lighting aspect - that is perfectly fine.

 

[TofuMofu]

I hope many people take any such "professional" photos with a pinch of salt and not go by the razzmatazz done by some creative photoshopping. Hopefully, people actually visit & inspect the place properly before making decision.

As for myself, if I find too much contrast between the actual photos & the condition the property is in, that is a big red flag. I would rather have honest representation of property than dealing with a photoshop dishonesty. I get the lighting aspect - that is perfectly fine.

Agreed and that is why I took the photos myself. I know what it's like looking for a property and the place doesn't match the photos...especially the wide angle ones that make a place look MUCH larger than it actually is.

 

[surface]

Agreed and that is why I took the photos myself. I know what it's like looking for a property and the place doesn't match the photos...especially the wide angle ones that make a place look MUCH larger than it actually is.

Exactly. Wide angle ones are the worst.

 

[maumau]

I have an estate agent coming next week. She's asking for sole mandate for 3 months. I don't begrudge her a commission if she does the pics and shows people around - ain't nobody got time for that.

If she gets sole mandate am I not allowed to list on P24 or PP?

She got iffy when I said I wanted to check the pics before they put the on their webpage and that's a bit of a worry.

 

[roskii]

I have an estate agent coming next week. She's asking for sole mandate for 3 months. I don't begrudge her a commission if she does the pics and shows people around - ain't nobody got time for that.

If she gets sole mandate am I not allowed to list on P24 or PP?

She got iffy when I said I wanted to check the pics before they put the on their webpage and that's a bit of a worry.

If you go sole mandate, max 2 months. Secure a lower rate between 2-4% with it. Beware though, they'll try to already start discounting 1-2 weeks in. You should make your expectations very clear on what you want to get out of the sale.

They should advertise on P24/PP.

Also, if she is already giving you issues around pics, then I would shop around for another agent. You'll have problems when it comes to trying to secure your desired price.

 

[Mike Angelo]

I have an estate agent coming next week. She's asking for sole mandate for 3 months. I don't begrudge her a commission if she does the pics and shows people around - ain't nobody got time for that.

If she gets sole mandate am I not allowed to list on P24 or PP?

She got iffy when I said I wanted to check the pics before they put the on their webpage and that's a bit of a worry.

Stay away from a sole mandate. You can pick up problems later if you sell it through another agent or yourself privately. They always come back and claim that the buyer saw / got to know about the property while they had the mandate and want to claim commission. Bunch of sharks. You will also not be allowed to sell it privately while the mandate is valid.

 

[maumau]

If you go sole mandate, max 2 months. Secure a lower rate between 2-4% with it. Beware though, they'll try to already start discounting 1-2 weeks in. You should make your expectations very clear on what you want to get out of the sale.

They should advertise on P24/PP.

Also, pi she is already giving you issues around pics, then I would shop around for another agent. You'll have problems when it comes to trying to secure your desired price.

Happy to hear they advertise on P24/PP and thanks for the tip about negotiating a lower commission.

Stay away from a sole mandate. You can pick up problems later if you sell it through another agent or yourself privately. They always come back and claim that the buyer saw / got to know about the property while they had the mandate and want to claim commission. Bunch of sharks. You will also not be allowed to sell it privately while the mandate is valid.

Good advice this! How would they ever prove where they saw/heard about the house. ... and now that I think about it she was also irritated when I said she must not put a board on the pavement outside.

That could also be a way of saying "oh but the buyer saw our board".

 

[jezzad]

Yeah man I do not know how they validate the percentages they charge, going to go P24 and use a attorney to double check OTP.

 

[maumau]

Yeah man I do not know how they validate the percentages they charge, going to go P24 and use a attorney to double check OTP.

.... but what about the conveyancing, change of ownership and all that other stuff that needs to be done?

 

[jezzad]

.... but what about the conveyancing, change of ownership and all that other stuff that needs to be done?

Oh yeah haven’t forgotten about that, will get a attorney to handle the conveyancing as well and try and bundle it together.

Then need electrical, beetle, plumbing and electric fence certificate.

 

[zerocool2009]

Auction INC (you can set a reserved price). If they dont get it, you dont pay anything

 

[surface]

What is typically the commission charged by agents these days. I had heard of 7% many many years ago but I very much doubt if anyone agrees to pay even half of that in 2021 ?

 

[richjdavies]

Auction INC (you can set a reserved price). If they dont get it, you dont pay anything

Think most auctions the seller doesnt pay anything.
There's buyers premium in auctions.... isn't there!?

 

[TechGirl04]

I hope many people take any such "professional" photos with a pinch of salt and not go by the razzmatazz done by some creative photoshopping. Hopefully, people actually visit & inspect the place properly before making decision.

As for myself, if I find too much contrast between the actual photos & the condition the property is in, that is a big red flag. I would rather have honest representation of property than dealing with a photoshop dishonesty. I get the lighting aspect - that is perfectly fine.

I've noticed that on some Lead Home listings on Property24, they literally photoshop the grass to be way greener. I confirmed this when we went to view a home with Lead Home as the agent and there was actually no grass.

Exibit A:

 

[rodga]

I've noticed that on some Lead Home listings on Property24, they literally photoshop the grass to be way greener. I confirmed this when we went to view a home with Lead Home as the agent and there was actually no grass.

Exibit A:
View attachment 1171548

You didnt actually have to visit to confirm its been shopped though

 

[RonSwanson]

.... but what about the conveyancing, change of ownership and all that other stuff that needs to be done?

Privateproperty.co.za can assist with all of that.

I sold one of my properties 2 weeks ago. I just told all of the agents that I am not interested in any exclusivity agreements: If they want to market my place, then they all agree to 5% commission (VAT incl.) and to all market it for the same price, and I also have the right to market it, and that I can withdraw the mandate at any stage. The place was priced correctly to sell (I lopped 70-80K off their "suggested" prices).
I had about 6-7 agents around taking photos, only three of them actually gave me a mandate to sign, the others did not bother. Because the place was priced correctly, it sold within a week. I received 4 offers on the same day and chose the one from my favourite agent who always puts a lot of work in, so good for her.

 

[RonSwanson]

What is typically the commission charged by agents these days. I had heard of 7% many many years ago but I very much doubt if anyone agrees to pay even half of that in 2021 ?

It varies from agent to agent, but you can negotiate (asking is usually between 3 and 7.5%). Remember that VAT is payable by you, so make sure you negotiate with this in mind.

 

[surface]

It varies from agent to agent, but you can negotiate (asking is usually between 3 and 7.5%). Remember that VAT is payable by you, so make sure you negotiate with this in mind.

Thanks, never going to use agents myself but needed to understand pricing structure. Hardly 3 owners selling their own property in our area.

 

[RonSwanson]

Thanks, never going to use agents myself but needed to understand pricing structure. Hardly 3 owners selling their own property in our area.

Leadhome used to be good, I think that back in the day they took like 1%. These days they are actually quite expensive, and considering that I had to do all the legwork, I declined their offer to market my place.

Here is their pricing structure: