Q: I live in a small town, and my property has been on the market for months (since November) – and I have had only two people come to view it. I have used both a sole mandate and open mandate. Although my home is small, the property is huge, surrounded by nature, but still close to town and main highways. The property is also zoned for commercial. What can I do to see some activity from the agents and potential buyers?
A: We are seeing a change in buyer behaviour, people moving from smaller towns to bigger metros in search of work. So the buyer pool in your area may be small and the demand for property in the area a bit low.
Another major factor is price. If your property is priced correctly it should be snapped up by buyers. Look at getting another valuation done and seek price counselling from your agent. Adjust your pricing and see if you can get a better response.
Make sure that the marketing on your property is up to date and of high quality, have another look at the pictures and the agent’s write-up on the property, and see if there is room for improvement.
Check the bylaws in the area and put up a large for sale or rental board which includes the property’s zoning.
These boards can be placed near busy roads where they can be seen by potential buyers or tenants. Chat to your agent about your listing on the property portals and see if your property can have a featured listing so it appears on the first listing page of that portal.
Continue to follow up with your agent, just to remind him/her that your property is still vacant. You could approach a commercial broker agent. The agent could then potentially tap into their commercial buyer and tenant database to find out if their clients would like to rent or buy the property for extra space.
Approach businesses nearby to check if they need extra space and would like to rent or buy the property. – Craig Mott, Western Cape regional sales and commercial manager for the Rawson Property Group