The Atlantic Seaboard Property Market – Feb 2014
The property market along the Atlantic Seaboard is experiencing a wave of offers at the moment across the board with buyers in their numbers trying to get their foot in the door particularly for the entry-level apartments around the R3 million mark.
In recent months we have noted a shift in property market trends with emphasis on stock as the majority of estate agents in the area are experiencing a shortage of properties to offer for sale. This supply and demand shift has been somewhat beneficial to the seller who now has the opportunity to pitch his/her property slightly above the market related value and negotiate from a position of strength. The timeline of the marketing and selling of a property has also changed and in some instances we have seen sales being concluded within a few days of the property being listed.
How does all this exciting property chaos affect the seller? It must be agreed upon that at all times it is far wiser for the seller to entrust his/her home to a professional and qualified estate agent who will work hard for the sale. Especially in the instance of receiving many offers at the same time or shortly after one another. It is a known fact that the sole mandate in fact allows the seller every opportunity to receive the best offer and best price. Any property will sell fast if it is correctly priced as the demand is great in the current market trend. The risk of an open mandate at any time runs high and possible double claims of commission are an inevitable possibility when there are so many estate agents working with the same buyers.
Author: Ashley Habib