Posted by
Kayla Cloete - RE/MAX
on 29 May 19
Categories:
Finance & Budget
There is a widely held perception that property sales slow over the Winter period along with reservations at rooftop bars and sunset cruises. But, while certain industries are season dependent, the property market is not one of them.
“The need to buy and sell real estate exists year-round. This becomes apparent if we analyse our sales trends over the last three years. The only steady pattern throughout the years is that January and December are consistently slower months. This is largely owing to the December leave period during which both our agents and many buyers take vacations, driving the property market (along with many other corporate industries) to a bit of a halt,” explains Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa.
That being said, sellers are not wrong for wanting to time the sale of their home correctly. According to Goslett, time spent on the market can have a huge impact on the likely returns. “Homes are most likely to sell for full value if they are sold within the first two months of being listed. However, homes that have been on the market for more than 6 months are likely to sell for 10% less than their initial asking price. Sellers would stand to benefit from timing the sale of their home correctly so that they have the best chance of selling within the first two months,” Goslett explains.
Goslett therefore advises sellers that now is the perfect time of the year to put their home on the market. “Sellers who put their home on their market in May will have six months to sell before the slower months of December and January arrive. Provided they partner with a reliable real estate professional and market their home at the correct price from the get-go, it is entirely possible to have their home sold within this period.”
“In fact, it is even more achievable if they partner with a RE/MAX agent because, every 30 minutes, a RE/MAX agent sells a home in Southern Africa. This statement is based on the fact that we consistently sell about 1,000 homes in Southern Africa every month. If you divide that by 30 days and then further by a 14-hour work day, you’ll get 2.4 per hour which is more than 1 home every 30 minutes. Statistically speaking, partnering with a RE/MAX agent will therefore provide sellers with the best chance of selling fast this Winter,” Goslett concludes.
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