The ultimate property sellers guide

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a guide for sellers

The property valuation

Your agent begins by conducting a market related property valuation which will be presented to you before finalising the purchase price. This is done by analysing and comparing the property to those of a similar nature that were recently sold in the area.
valuation process

Marketing your property

Your property will be advertised on all major property portals, including the E&Y website. Your property will be marketed to all potential purchasers through our extensive advertising campaigns by using all our available resources.
what we do

Signing the mandate

A mandate needs to be signed authorising your agent to market your property. You have the option of signing a sole mandate or an open mandate. We recommend a relationship with one estate agent to guarantee your success.
Why a sole mandate

Viewings & show days

Your agent will arrange viewings with pre-qualified purchasers and arrange show days at your convenience. Show days will be advertised across all portals. Your agent will ensure that your property's value is seen by all visiting buyers.
how to prepare
exit-inspection

Offers to purchase

Once there is an interested buyer a written offer to purchase will be prepared by your agent and presented to you. The price on offers will generally differ to that of your selling price. You are under no obligation to sign any one offer but it is advised to be realistic in terms of the market-related value of your property.
estate-agent

Buyer obtains finance

Your agent will assist the purchaser to apply for bond finance from all the major banks, via a bond originator. Our agents always pre-qualify buyers to ensure affordability before signing offer to purchases. Once finance has been approved the buyer will pay a deposit (if applicable) to the transferring attorney.
buyer-finance

Sellers responsibilities

Once the bond is granted, the conveyancing process will run its course up until the property is registered into the purchaser's name. The seller has various responsibilities to carry out in order for a successful sale transfer to take place.
your responsibilities
sellers-responsibilities

Conveyancing process

Once an offer has been accepted by you, it is then handed over to the conveyancing attorneys to attend to the transfer. Make sure that you appoint a professional conveyancer to take care of your biggest investment.
wrapping up the sale
conveyancer
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The ultimate sellers guide full page view

valuation marketing mandate show days responsibilities conveyancing

Top property

portals.

how we showcase your property
Your property will be listed on leading SA property portals such as Private Property, Property 24, My Property, Property 360, Qwengo, Immoafrica and the Etchells & Young website.

Videos &

virtual tours.

how we showcase your property
Potential buyers can view your property virtually before deciding to physically view. This separates the real buyers from the serial browsers and potentially saves you time and effort.

Viewings

& show days.

how we showcase your property
Your agent will ensure that your property’s value is seen by all visiting potential buyers. Show days will be advertised across all portals as well as on our social media platforms.

Digital & social

media marketing.

how we showcase your property
We have a dedicated team focused on marketing your property to its full potential via social media, YouTube, featured listings on property portals and digital brochures.

Multi listing

structure.

how we showcase your property
All our agents will be briefed on your property; this allows each of them to present your property to their own network of buyers, dramatically increasing potential purchasers.

Consider

your property sold.

how we showcase your property
These tools provide a means to maximise each property’s visibility. The more visible the property is, the more potential buyers see it, and the higher the likelihood that it sells faster.
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ultimate sellers guide

The property valuation

The market value and comparative market analysis of your property

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The valuation of a property can be a contentious issue. Sellers often struggle to understand what their properties are worth, which can lead to unrealistic expectations and unsold properties. It is therefore important to understand the current phase the property market is in.

The market value is largely driven by supply and demand and building costs. Building costs are driven by inflation. Supply and demand is driven by a number of economic factors, such as interest rates, disposable income, etc.

Property values usually increase when interest rates fall as this makes property more affordable and people buy rather than rent, which increases demand. Other factors that influence market value: Location, condition age, layout & current market trends.

In a declining or stagnant market one must caution against overpricing property.  In a rising market it can also be very difficult to get the right balance between the best possible price and a quick sale. Overpriced properties can take longer to sell, which can be quite stressful and costly especially if the property is standing vacant and not earning income. Unfortunately a property that is on the market for too long sends out a signal that something could be wrong with it. By reducing the price after your property has gone to market you may give potential purchasers the impression that you are desperate and they may make offers under market value.

Estate agents normally use what’s called a Comparative Market Analysis (CMA) to determine the selling price of a property. This is done by analysing and comparing the property to those of a similar nature that were recently sold in the area. Your agent will also take into consideration, the property's proximity to amenities, condition and general appearance of the property, and current demand in the area for similar properties.  A printed copy of the CMA will be presented to you.

Advantages of pricing your property right

tick
Impression of good value
tick
Ensures maximum exposure
tick
Attract higher offers
tick
Stimulates real buyer interest
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Your property will sell faster

Dangers of overpricing your property

cross
Reduced advertising response
cross
Attract the wrong buyers
cross
Lose genuine purchasers
cross
Eliminate offers
cross
Extended time on the market
Setting your asking price
In reaching a decision to buy, purchasers will be comparing your property with other similar properties and it is therefore vital that your asking price is competitive. Knowing and understanding the property’s market value will assist in setting a property price that is fair and competitive within its relative market. An evaluation on comparative pricing of similar properties in the area is a sure way to establish the market value, and then correctly and fairly set an asking price.
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ultimate sellers guide

Marketing your property

HD Media - Virtual tour | Video | Hd images

We provide HD media where the property meets our criteria. This includes an HD video, photographs and a virtual tour. This media is placed on all relevant property portals as well as our social channels. With a 3D Virtual Tour, prospective buyers can do their own walk-through of your property from anywhere, anytime, generating higher engagement and interest.

Our competitive advantage

Combining our real estate knowledge and experience with cutting edge tech has enabled us to find the right buyer much quicker and positions us well ahead of other traditional estate agents. We showcase your property by utilising various resources including but not limited to; Leading SA property portals, Digital media channels, show days, featured listings on Property24 and Private Property, show days and a multi-listing structure within Etchells and young.

Top property

portals.

how we showcase your property
Your property will be listed on leading SA property portals such as Private Property, Property 24, My Property, Property 360, Qwengo, Immoafrica and the Etchells & Young website.

Videos &

virtual tours.

how we showcase your property
Potential buyers can view your property virtually before deciding to physically view. This separates the real buyers from the serial browsers and potentially saves you time and effort.

Viewings

& show days.

how we showcase your property
Your agent will ensure that your property’s value is seen by all visiting potential buyers. Show days will be advertised across all portals as well as on our social media platforms.

Digital & social

media marketing.

how we showcase your property
We have a dedicated team focused on marketing your property to its full potential via social media, YouTube, featured listings on property portals and digital brochures.

Multi listing

structure.

how we showcase your property
All our agents will be briefed on your property; this allows each of them to present your property to their own network of buyers, dramatically increasing potential purchasers.

Consider

your property sold.

how we showcase your property
These tools provide a means to maximise each property’s visibility. The more visible the property is, the more potential buyers see it, and the higher the likelihood that it sells faster.
Previous
Next
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ultimate sellers guide

Signing the mandate

Why signing a sole mandate VS open mandate makes sense

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Sole mandates are prioritised

Signing a sole mandate with one estate agency gives both the agent and the agency the incentive to allocate more resources, time and effort into the marketing your property.

Your agent stays accountable

Your agent is accountable to you, the seller. They have your best interests at heart when dealing with purchasers, negotiations and all other aspects relating to the sale of your property.

Pre-approved buyers

Your agent makes sure that all potential, pre-qualified buyers that are on our books are introduced to your property and that all potential buyers viewing the property see it's value for money.

No double commission claims

Avoids duplicate buyers, therefore eliminating double commission claims. If more than one agency brings the same buyer to your property you could be held liable to pay double commission if that buyer purchases the property.

You won't get below market price offers

Properties linked to one brand sends a message about quality. When a property is listed with a few different agencies it may give the perception that the seller is desperate, therefore the possibility of below market value offers.

Only one for sale board on your property

You work with one dedicated agent from one company, simplifying your life and ensuring your privacy and security. More than one board outside a property can give the impression that the seller is desperate.

Sign a sole mandate

A mandate needs to be signed authorising your agent to market your property. You have the option of signing a sole mandate or an open mandate. We recommend a relationship with one estate agent to guarantee your success.
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ultimate sellers guide

Preparing for show days & viewings

Is the first and the last impression a buyer will have of your home, make sure it is a good one! Ensure it is tidy, clean and there are no obstructions.
Ensure that the garage door is in good working order and that it is neat and tidy. Make sure that it is free of weeds and oil stains.
Ensure the garden is tidy and not cluttered with toys or messy. Ensure hedges are neatly trimmed and plants and flower beds are watered regularly.
Cut back creepers which might be preventing light from entering rooms. Keep steps clear of hazards. Ensure furniture is clean and neat.
Check paintwork, polish handles and locks, oil hinges and tighten door knobs. Ensure doors open and close correctly.
Replace cracked panes, wash windows, check fittings and paintwork. Ensure curtain rails are firmly attached, curtains clean and properly hung.
Steam cleaning will rejuvenate tired looking carpets and a good polish will bring out the natural beauty of wooden floors. Replace any broken tiles.
Fix noisy or leaking toilets, repair dripping taps and broken silicone around the bath, shower and basin.

How to prepare your property for a show day

Tidy up

Straighten up or remove newspapers, magazines, mail, toys, clothing, recreation gear, dishes etc. Ensure that every room in the property is neat and clean. Nothing makes a space look smaller than clutter.

Lighten up

Turn all the lights on, electric lights have an amazing capability for creating an illusion of lightness, airiness and space. Open all the curtains and blinds. Dark, gloomy spaces tend to make a space look smaller as well.

Clean up

Make up the beds neatly and ensure there is nothing lying around especially in the walkways. Ensure all counter tops are clear and clean, wipe down appliances and make sure that all dishes are out of sight. Remove any other obstacles that may hide the positive aspects of the property.

Freshen up

Smells can work wonders for the psyche. Keep air fresheners in the cupboards, bathrooms and kitchen. Keep a set of fresh attractive towels in each bathroom. Fresh, nice smelling flowers can brighten up the space. Brewing coffee or scented candles are also great for ambience.

Spruce up

Soft, pleasant music in the background helps set the tone. Always put the properties features in the spotlight. As an example if you have a lovely enclosed patio for entertaining, try and make that space look it's best in order to draw potential buyers to it.

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ultimate sellers guide

The sellers responsibilities

The seller has certain responsibilities before a successful sale can be concluded:

BOND CANCELLATION
You must give your bank 90 days notice should you have a bond over the property that will need to be cancelled.  If you fail to do this, an early termination penalty may be added to your bond cancellation fees by the bank. This may result in either a possible shortfall or a delay of up to 90 days, should you wish to wait out this period.
BOND settlement
This is the amount that is outstanding on your bond with the bank. Ensure that the outstanding amount due to the bank can be settled, taking into account the expenses that you will incur when selling.
legal fees
If there is a bond registered over the property, you will pay the bond cancellation costs. This is paid to the Attorneys who are appointed by the bank to attend to the cancellation of the existing bond. You will be obliged to keep up your monthly bond installments pending transfer of the property. If any interest is overpaid to the bank, it will be refunded to you by the bank after registration.
electrical compliance
You are required to obtain the statutory required Electrical Compliance Certificate for the property prior to lodgement of the transfer in the Deeds Office, issued by a certified electrician. Cost +- R1500.00. You are also required to obtain an Electric Fence Compliance Certificate.
Rates & Levy clearance
4-6 Months upfront rates & taxes needs to be paid. Levies need to be paid up to date and in full. Make provision for 1-12 months. You can apply for a rebate for the difference of the rates after the property has transferred. in case of sectional title , the Body Corporate may levy a clearance certificate fee.
FICA DOCUMENTS
You are required to furnish the Attorneys with the following documentation in order to comply with FICA (Financial Intelligence Centre Act) : (Cost +- R900)
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Copy of your Identity Document
Income Tax registration number
Copy of Marriage Certificate
Antenuptial if applicable.

Completing a successful sale

Once the bond is granted, the conveyancing process will run its course up until the property is registered into the purchaser's name. The above tasks are the sellers responsibility to carry out in order for a successful sale transfer to take place.
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ultimate sellers guide

Conveyancing process

Once an offer has been accepted by you, it is then handed over to the conveyancing attorneys to attend to the transfer.

The Transferring Attorney receives the sale agreement

The signed sale agreement will be sent to the transferring attorney by the agent or by the seller in case of a private sale. The transferring attorney is usually appointed by the seller. The attorney will obtain all fica documentation that is required to conclude the sale from the seller and purchaser.

Bond confirmation from the purchaser

The purchaser must provide proof that a bond has been granted to him by an acceptable banking institution in South Africa and that the bond amount is the same under the conditions of the sale agreement. The purchaser must pay the deposit into the transferring attorneys trust account.

Sellers bond cancellation

The title deeds or the bond account number needs to be provided by the seller in order for the attorney to request current bond cancellation figures from the sellers bank.

Rates clearance certificates

A Rates Clearance Certificate (a document stating that all rates and taxes for the current rates year have been paid) is obtained from the municipality by the Transferring Attorney.

Draft deed & guarantee requirements

The Bond Attorney advises the Transferring Attorney of the amount available for guarantees and requests the draft deed of transfer and guarantee requirements.

Deed of transfer

The Cancellation Attorney is requested to cancel the seller's bond, on receipt of a guarantee for the amount owing. The Transferring Attorney receives the title deed and bond cancellation figures and sends a copy of the deed of transfer and the guarantee requirements to the Bond Attorney.

Transfer costs & transfer duty

The Transferring Attorney requests the purchaser and seller to sign the transfer documents. The purchaser pays the transfer costs and the Transferring Attorney then pays the rates and taxes and the transfer duty to the South African Revenue Service. A Transfer Duty Receipt is issued.

Bond documents & payment of costs

The Bond Attorney prepares the bond documentation together with the relevant statement of account. The purchaser signs the documents and pays the costs.

Preparation for lodgement

The Bond Attorney prepares and issues the necessary guarantees, forwards them to the Transferring Attorney and prepares the bond documents for lodgement in the Deeds Office. Once the Transferring Attorney has received the guarantees, they are forwarded to the Cancellation Attorney.

Registration at deeds office

All Bond and Transfer documents are inspected by the deeds registry and if correctly prepared, come up for registration. At this stage the purchaser must have the balance of the cash purchase price available, and the financial institution's attorneys have the bond amount available. Allow at least 12 weeks for the registration and transfer of the bond.

Payment of proceeds

The transferring attorney now draws the finale statement of account. The purchase price after deductions (bond cancellation figure; bond cancellation costs; estate agent’s commission; costs of the compliance certificates; and the pro rata share of the rates clearance figures and levy clearance figures in case of sectional title property) must be paid to the seller.

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