Price correctly or pay the price!

Price correctly or pay the price! | Let's Talk Cape Town | Tyson Properties

Possibly one of the worst tasks a real estate agent has to do is take an offer to a client that is reasonable, only to have that offer declined and then to present a new offer to the same client six months later that is about 20% less than the first offer which the seller has no option but to accept.

As agents we always want to meet our clients expectations.

Over the last two years, I have been put in the unfortunate position to carry out this role with deep dissatisfaction on numerous occasions. As agents, we always want to meet our client’s expectations and with delicate hands manage them through these ever-changing, ever-evolving market conditions.

If the seller does not price the home correctly and does not consider offers that are in line with current market conditions and statistics, they unfortunately stand to lose big. This specifically applies to the luxury real-estate segment in the Western Cape.

In February 2018 I bumped into a good friend of mine Lance Cohen, he advised me that market conditions were about to change and that I should take the necessary precautions as a business owner. I found it hard to believe as we just came off one of our biggest months ever in terms of sales volume. But fortunately, I took his advice. Lance Cohen recently featured on ENCA and gave the luxury market some brilliant advice which we think will stand to serve all sellers.

A recent interview on ENCA done by Lance Cohen of Lance Real Estate.

The good news is that luxury high-end properties that are priced correctly are absolutely still selling! Tyson Properties has continued with consistent sales in this tough end of the market.

By utilizing technology correctly as well as our innovative approach to marketing, Tyson Properties has been able to continue to conclude just as many sales as we have outside of this lock-down period. However none of this would be possible were it not for the work of our dedicated agents and the support of you our clientele.

Here’s some Luxury homes recently sold by Tyson Properties:

A Llandudno home sold for R27,500,000 by The Cowboys Team – Dylan Robertson & Tiaan Vosloo.
A Newlands home recently sold by Heather Turner for the full asking price of R 24,500,000
202 NO2 Silo recently sold by Arthur Sierra & Michael Bester R 5, 700, 000
Greenacres sold for asking price: R14 999 000

These properties were sold to both local and foreign buyers. With the recent drop in the Rand and incredible new interest rates, luxury property in SA is still a fantastic proposition with endless investment potential, offering the buyer a slice of paradise like no other in the world.

With local market conditions being affected differently due to the pandemic it is more important than ever to get good property advice from your trusted real estate agent. Here are some beautiful luxury homes Tyson Properties has listed throughout the Western Cape.

R11,000,000 | 3 Bedroom House For Sale in Constantia
R28,000,000 |  66,600m² Small Holding For Sale in Melkbosstrand
R13,500,000 | 3 Bedroom Apartment For Sale in Cape Town City Centre

We wish all our clients and friends a safe passage through this pandemic and we look forward to reopening our doors under level 3 lock-down using all precautions necessary to ensure the safety of our staff and our clients.

God bless you all.

Nick Pearson

Regional Director of Tyson Properties Western Cape.

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