If you are looking for a residential real estate valuation anywhere in Johannesburg, you have come to the right place. Firstly, KW Select has over 100 agents strategically placed across Johannesburg so we are well-placed to assist you with your residential real estate valuation in your specific suburb. Get Your Residential Real Estate Valuation here.
What Happens With a Residential Real Estate Valuation?
Firstly, when we have an idea of where your property is that you need a residential real estate valuation on, we consider very carefully which agent operates in your specific suburb and neighbourhood. Great agents become well-known in specific areas and will have first-hand knowledge of what property prices in the area are doing. A great agent will want to schedule time to view your property and this means the general condition of your home will be visible and it all gets incorporated into what the value of your property will be in the current market. Get Your Residential Real Estate Valuation here.
Current Property Market And Property Trends
We recently published some key research from FNB about what the property market in your area and across SA is doing. We all know what is happening but it has been so refreshing to see the sentiment pull through to research results. Headline trends and insights include:
- The House Price Index (HPI) is down to 1.9% year-on-year. This is significant because that means that house prices are now only showing 1.9% growth. This is down from almost 4% in 2022. This means if you need to sell your property, it is essential that your asking price align with the property sales in your specific area. Realistic pricing in line with realistic property pricing is now more essential than ever.
- It is taking longer to actually sell a property. In our article, based on FNB’s research indicates the time to sell a property is now sitting at an average of 85 days or 12.1 weeks. This has a significant impact on managing expectations. This also means that the market is tougher, in fact, it’s a buyer’s market and we all know in this market there are good buys to be made at fair prices. This will also impact the duration or the period of a mandate. Now more than ever the property mandate is essential so consider wisely the benefits of each property mandate and their merit. Click here to read a recent article with a strong recommendation to that of a Sole Property Mandate. The choice is yours but for the best sales result, an Open Property Mandate is NOT the way to go.
- Thirdly, affordability is stretched, for most of us. The cost to service debt on a home loan or even a car loan is significantly more expensive. The general cost of living and inflation creates pain and disposable income is just not what it used to be a few years ago. This also means that buyers are stretched financially. The trend now favours downscaling rather than upscaling so again to manage expectations, buyers will consider properties in a high price bracket and hope to work a price down.
Get Your Residential Real Estate Valuation here.
Get A Residential Real Estate Valuation From An Estate Agent Near You
- A residential real estate valuation will mean a great agent comes prepared. There are various tools and reports that a real estate agent will use to determine the value of your property were you to sell your home. Determining the value of a property is not hard. But it is essential that as a seller your asking price aligns with what has been outlined above. Sadly if your property is not priced for the current market, you will not get the traction or the viewings which lead to offers and ultimately a property sale and property transfer. The current market also gives a view which is important, but if you are wading through the properties in your area on the major portals, you will notice how many reduced banners have been placed on the actual listing. Also if you go into the listing you will notice if you look at when the property was listed. There are a number of properties that have been on the market for too long. Possibly because the original asking price at the time of listing was just too high. Remember that an estate agent will always do their level best to unlock the equity built up in your property over time when you sell. They will always push the boundaries, but there is a fine line with pushing too high.
- On that note, if you got a residential real estate valuation last year and you have decided it’s time to sell, you may need to get a second opinion on the price. If you list at last year’s prices, chances are you will be listing too high and will need to drop fairly quickly before you get traction from buyers. Get Your Residential Real Estate Valuation here.
Why Choose KW Select For Your Residential Real Estate Valuation
KW Select is an independently owned franchise that is proudly associated with Keller Williams. Keller Williams is the largest real estate brand in the world. Our technology allows for so many things that other players in SA just cannot offer and the most important thing in the current market is our ability to look after, nurture and leverage buyers that are in quite short supply at the moment. Our great agents at KW Select are all accredited so understand and are committed to upholding the Code of Conduct as set out by the PPRA.
Get Your Residential Real Estate Valuation here.
How Does Tech Feature When You Sell a Property?
Well, it is essential that a great agent that you are considering for the sale of your property has a strong social media presence in his or her local area. They will have built up a presence online meaning they have followers who like and share content. They are in tune with the local market and they will understand the local market well. Tech is important and we all know how tech has changed the way we search for information online. Get Your Residential Real Estate Valuation here.
Do You Need A Residential Real Estate Valuation?
Book your residential real estate valuation here. Simply click here and we will get a great agent in your local area to give you a call to schedule a time to meet with you and to have a good look at your property. Our KW Select agents will be able to walk you through what we are seeing on the ground in the property market. It’s not all bad news. I can assure you if a property is priced correctly it will sell. The downside of listing a property at a price that just not align with current market conditions is that a residential property sits on the market for months. Sellers are on their toes all the time just in case we get a request to view.
