3 common misconceptions when listing your property

Myth 1: The evalution report I got from my Property Professional is just an indication with regard to pricing. My property's value is much higher.

Reality: "No money in the world can replace the wonderful memories you made in your home, but a seller cannot demand a higher price due to personal attachment or emotional reasons," warns Zani van Wyk, Principal of Property to Link.

When an evaluation gets done, various factors are taken into consideration. Among other things, where the property is located, the size of the property, the current social, financial and political climate as well as what properties in the vicinity sold for per square meter (the amount is not based on the listing price but the actual sold price).

"Therefore, it is imperative that sellers should be emotionally ready to sell, otherwise they can subconsciously sabotage the process."

Myth 2: A higher asking price will leave more room for negotiations.

Reality: "Another error is overpricing a property in the hope of getting the price you actually want," says Zani. "An overpriced property that has been on the market for an extended time can even start to raise red flags with buyers and might end up selling for a bargain."

Myth 3: I am looking at homes in Cape Town. Properties in the Cape are more expensive than in Gauteng and I need to get the highest possible price to make the move possible.

Reality: "You cannot let your personal budget influence your current property's selling price. Value is determined solely by what a buyer is willing to pay in today's market; this figure is based on comparing your home to other properties in your immediate area."