How do you know how to price your Benoni property when you want to sell? The quick answer is: price-to-sell. But what is the price to sell? Do you listen to the neighbor and either sell the property for too little or don’t sell the property at all because it’s overpriced.

Even when you decide to list with estate agents you can get bamboozled by agents who either inflate the price to win the favour of the owner or under price the Benoni property for a quick and easy sale. The golden rule is to never select an estate agent based on what he suggests the price should be. He doesn’t really know. The buyers will know the price.

Unfortunately unrealistic listing prices result in under exposure and the initial window of opportunity is lost and your Benoni property becomes a wall flower. That’s not all, the longer the Benoni property is on the market the more it will affect the price, Standard Bank advices that not only the price of the Benoni property that’s on the market for a length of time will be affected but the property will most probably be sold for less than market value.

Use the following 9 guidelines to set a fair price to sell your Benoni property.

1. Fair value and more? Yes. You can even get more for your Benoni property if you use the scarcity principle. Your Benoni property is one of a kind. Use this uniqueness to create competition in the pool of buyers.
2. Never create competition between estate agents because they can only win at your expense. They win by over promising, not qualifying buyers and by ridiculous offers.
3. Ensure you sell your Benoni property during the window of opportunity – one to four weeks after listing. During this period agents go through the database of active buyers if your Benoni property doesn’t sell during this time you are exposed to the trickle of new buyers who enter the market. And your Benoni property becomes the wall flower.
4. Get comparative market analysis from your top agents. For example the newsletter provided by Benoni Home Owners News give you all the info you need every week for free. In you area you need to know;
   a. How does my Benoni house compare to other sold Benoni properties?
   b. How does my Benoni house compare to for sale Benoni properties?
   c. How long do Benoni properties stay on the market?
   d. How does my Benoni house compare to benoni property that did not sell?
   e. Average price per square meter for Benoni property?
   f. My house price per square meter?
5. Your emotional value is not fair value.
6. The fact that you moving to an up-market area e.g. London is of no value `to the Benoni buyer.
7. The improvements cost is of no value to the buyer although the improvement might add value.
8. From comparative market analysis you’ll be able to know which is the best time of the year to sell and if you are in a buyers or sellers market.
9. You need to do your own market research by going to open houses in your area. Try to make a fair appraisal of other Benoni properties and compare with regards to location, size, amenities and condition.

Given all the information available we at Benoni Home Owners News will gladly assist you in establishing a fair price-to-sell for your benoni property.