One mistake South Africans should avoid when selling their homes

Experts warn that South Africans selling their homes should avoid choosing an agent who inflates the listing price, as this often leads to delays, reduced buyer interest, and ultimately selling for less than the property’s true market value.

It is natural to be drawn to agents who promise the highest price, especially since, for most South Africans, their home is their largest and most expensive asset.

“But beware,” warned VDM Law’s Hannah van Deventer. “This is where many sellers get caught by a practice known as ‘buying the listing’.”

According to Van Deventer, “buying the listing” happens when an agent deliberately inflates the suggested listing price just to secure the mandate from the seller.

While it may feel flattering for someone to hear that their home could fetch more than they thought, the truth is that overpriced properties sit on the market longer.

“The longer it sits, the more buyers assume something is wrong with it,” Van Deventer said. “Eventually, the property has to be discounted below market value to attract attention.”

The result is that the seller never gets the dream price they were promised. In many cases, they end up selling for less than they might have if the property had been correctly priced from the start.

Other property experts have similarly pointed out that although sellers often believe they can “test the market” with a high price and adjust it later, this is not the case.

“The reality is that your first listing price sets the tone for the entire sale,” said Arnold Maritz, Co-Principal of Lew Geffen Sotheby’s International Realty in Cape Town’s southern suburbs.

“Buyers form immediate perceptions, and if those perceptions are negative, it can be incredibly difficult to change them.”

Maritz said research, market experience, and buyer behaviour all point to one undeniable truth – the first price set can make or break the sale.

The moment a seller’s home hits the market, it enters a golden window of peak interest, typically the first 30 days, when buyer activity is at its highest.

Ask the right questions

Van Deventer noted that the listing price is only one part of the puzzle. “Buyers determine the market value – not agents, not sellers. Overpricing can actually reduce buyer interest and limit offers,” she said.

Instead of focusing on which agent gives the “best” number, Van Deventer said sellers should be asking them how they will market the property.

Considerations like who the target buyer is and how the agent plans to reach them, what their strategy is for generating viewings, and offers and what networks, databases, or partnerships they will use to sell the home are much more productive.

Homeowners can also look for agents with specific experience in the area. A local expert can accurately price a home by comparing it with recent sales to avoid overpricing or underpricing.

Homeowners should stop asking, “What do you think my house is worth?” and start asking, “How are you going to sell my house?”

“An agent’s real value lies in their sales strategy, not the number they write on a valuation,” Van Deventer explained. A good agent will –

• Provide a comparative market analysis with realistic benchmarks
• Explain a marketing plan (professional photos, digital listings, show days, buyer database outreach)
• Offer insight into buyer behaviour in your suburb and price bracket
• Be transparent about feedback from showings and adjust the strategy when needed

According to Van Deventer, there are also some telltale signs homeowners can look at to spot an agent who “buys the listing”.

These include quoting a much higher valuation than other agents without solid market evidence, pressuring the seller to sign a mandate quickly, and failing to explain a clear, step-by-step sales strategy.

Overall, these agents focus only on “the number” rather than the overall sales process. She added that when South Africans sell their home, they should remember that a valuation is an option, and a strategy is a plan.

“What really matters is not who promises the biggest price tag, but who has the skills, network, and strategy to actually sell your property,” Van Deventer said.

“Don’t let your property become another stale listing. Choose the agent with the best plan – not the biggest promise.”