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We defied the odds and got one in five sellers their asking price*

20 November 2019 | Insights Team

As you might have heard we sell homes 31% faster, and now we have defied the odds in a difficult economy. We have helped one in five of our sellers get their full asking price or above asking price. In our struggling economy, to sell 20% of Leadhome listings at asking price or above is significant. Only 80% of Leadhome’s sellers had to drop their asking price in Q2 of 2019, with an average drop in asking price of 5.7%. This is a remarkable improvement of 3.2% on the purchase price and is higher than the national average. This tells us our way of working is not only working but getting us out in the lead, saving our sellers money and time.

This might not sound all that impressive but in fact, when compared to the FNB property barometer released in July 2019 only 2% of South African home sellers received their initial asking price and 98% had to drop their price by 9.9% on average. According to the latest FNB Market Strength Index (a composite index, which gauges demand and supply strength), a narrowing demand-supply gap over the past few months is becoming evident. Trends show the number of houses for sale is increasing, but the sales cycle is taking longer, and homeowners can expect to have to lower their prices.

But how do we sell faster and at full asking price, one out of five times? It’s simple; we are not only data-lead but our data provides us with valuable insights to give our sellers expert and insight-led advice. So, despite the persistent macro-economic challenges our country is facing we are still able to sell homes faster and more homes at the seller’s full asking price.

“We use data to inform our property valuations as well as focus on the best service and insight to help our clients get the best possible result for their property. Leadhome has recognised that clients require more from a real estate agency and we are working hard to assist them to manage this important process. Like so many businesses, the real estate market is evolving as external forces shape and shift how we do business successfully in South Africa. Reverting to old practices is never an option, rather moving forward and continually evolving is what will set us apart.” says Marcél du Toit, CEO, Leadhome.

In closing, he explains that: “Our one in five success to date and the 31% faster-selling ability tells us we are doing something right and gives us peace of mind that our agency is making a difference.”

One in five of our clients get their asking price or above compared to the industry norm of one in 50. What does this mean? With us you have a better opportunity to sell your house.

Sell your home smarter through insights, sell your home the Leadhome way. Book your home valuation today, click here.

*Data source: FNB Market Strength Index

Insights Team

We're the "thinking arm" of Leadhome, combining expertise in data analysis, modelling, sociology, geography, and philosophy to interrogate current trends in the South African residential property market. Proudly contemplative since 2015.

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