When it comes to selling property, time is money, and most sellers therefore want to get their property sold for the best price as quickly as possible.

Agents from the Seeff Property Group therefore advise that there should be no time wasted by testing the market.

Sellers would simply be wasting their own time. What’s more, experience has also shown time and again, that going onto the market at a price which is out of kilter with peer properties inevitably ends up selling for less than what it could have.

The top reason why a property is not selling is usually because it is overpriced, said Tiaan Pretorius, manager for Seeff Centurion. Unfortunately, owners often believe their properties are worth more.

The reality, however, is that if your property is priced above the market, buyers will simply look at other properties as buyers generally look for the best value they can find.

Factors which influence the time it takes to sell a property include the location, condition of the property, overcapitalisation, the number of similar properties on the market, high levies, and the economic conditions which might be resulting in low demand, and properties staying on the market for longer.

Pretorius said, however, that there are always buyers. It’s just a matter of ensuring that if you are a serious property seller, you follow the “golden rules” to speed up the sale of your property.

He highlighted five strategic steps that can help sellers position their property effectively for a successful sale in a challenging market – without simply sacrificing value.

1 – Hire an experienced local agent. More than 90% of all properties are sold by agents in South Africa. Choosing a local agent with a track record of sales in the area means they offer the experience of successfully selling properties just like yours. Such an agent would more than likely already have a buyer in mind for your property.

2 – Be upfront about your needs. Be clear, but realistic, about your price expectations from the sale. If the agent knows what you expect to net from the sale, they can better market the property, and manage the offers. If you are not upfront about your minimum price level, it could result in delays.

3 – Stage the property for a fast sale. Ensure the property is in a showhouse condition, cleaned thoroughly and all maintenance done so that potential buyers have no reason to walk away. It should also be fully compliant and basically be move-in ready to avoid any doubt in the mind of the buyer.

4 – Price mid-range, rather than at the top of the price scale. By pricing in the mid-range, it leaves room to negotiate the price. If, however, it starts at the top of the range, it could likely put buyers off. The agent is skilled at negotiating, and experience has shown that a high price a correctly priced property will likely attract more serious buyers and offers.

5 – Be flexible and open to negotiation. If you need to make a fast sale, you will likely need to be flexible on the price, especially if it is in an area with plenty of stock for buyers to choose from. You would also need to be accommodating in terms of viewings. That said, the agent should qualify buyers to ensure there are no time wasters.