04/06/2026
๐ฐโจ ๐๐๐๐ ๐๐ ๐
๐๐๐ ๐๐๐๐๐๐ ๐๐๐๐๐ (๐๐๐ ๐๐๐ ๐๐ ๐๐ ๐๐๐๐๐๐ ๐๐๐๐๐๐๐๐๐๐?) โจ๐ฐ
Most sellers think property value is based on what they wantโฆ or what they need for their next move.
But the market does not work that way. โ
๐ง ๐ช๐๐๐ง ๐๐๐๐ฅ ๐ ๐๐ฅ๐๐๐ง ๐ฉ๐๐๐จ๐ ๐ฅ๐๐๐๐๐ฌ ๐๐ฆ
Fair Market Value = what a willing buyer will actually pay today
Based on real, recent, similar sales in your area.
Not emotion.
Not memories.
Just ๐ market evidence
๐ซ ๐๐๐๐๐๐ฆ๐ง ๐ฆ๐๐๐๐๐ฅ ๐ ๐๐ฆ๐ง๐๐๐
Many sellers:
๐ก Compare their home to the highest price ever achieved
๐ญ Price based on what they wish they could get
๐ธ Work backwards from what they need for their next purchase
That is not valuation.
That is hope pricing.
๐ฆ ๐๐๐ก๐ ๐ฉ๐๐๐จ๐๐ง๐๐ข๐ก๐ฆ ๐๐ ๐ฅ๐๐๐๐๐ง๐ฌ
Bank valuations are usefulโฆ but limited.
They are not always based on:
๐ Physical comparisons
๐ Same location condition
๐ Real buyer behaviour
They are a guideline, not the market truth.
๐ ๐๐ข๐ช ๐ฉ๐๐๐จ๐ ๐๐ฆ ๐๐๐ง๐จ๐๐๐๐ฌ ๐๐๐๐๐จ๐๐๐ง๐๐
In practice, I look at:
โ๏ธ Sales from the last 6 months
โ๏ธ Same suburb or closely comparable areas
โ๏ธ Same size, condition & features
โ๏ธ Real buyer behaviour (not listing opinions)
โ๏ธ 4โ5 strong comparable sales
๐ Itโs always โapples with applesโ
๐๏ธ ๐๐ฉ๐๐ฅ๐ฌ ๐ฆ๐จ๐๐จ๐ฅ๐ ๐๐๐ฆ ๐ ๐ฃ๐ฅ๐๐๐ ๐๐๐๐๐๐ก๐
Even a stunning home has limits.
I once had a seller expecting R2 Mโฆ
๐ Market reality: R1.6M โ R1.8M
Why?
Because buyers compare EVERYTHING in the suburb before deciding.
Not your memories.
Not your upgrades.
Just value vs competition.
โณ ๐ข๐ฉ๐๐ฅ๐ฃ๐ฅ๐๐๐๐ก๐ = ๐๐ข๐ฆ๐ง ๐ ๐ข๐ ๐๐ก๐ง๐จ๐
When a property is overpriced:
๐ Enquiries drop fast
๐ Serious buyers ignore it
๐๏ธ It sits for 3โ12 months
โ Buyers start asking: โWhatโs wrong with it?โ
โ ๏ธ ๐ง๐๐ ๐ ๐ข๐ก ๐ ๐๐ฅ๐๐๐ง ๐ ๐๐ง๐ง๐๐ฅ๐ฆ
After ยฑ2 to 4 weeks:
๐ Listings lose momentum
๐ Buyer interest drops
๐ The property feels โstaleโ
Even price reductions help visibility again, but perception is already affected.
โค๏ธ ๐ง๐๐ ๐๐ ๐ข๐ง๐๐ข๐ก๐๐ ๐ง๐ฅ๐๐ฃ
Sellers often say:
โI need this price for my next homeโ
โIโve put so much into this propertyโ
But buyers donโt see that.
They see:
๐ท๏ธ Price
๐ Location
๐ Features
โ๏ธ Value vs alternatives
Your home becomes a product on a shelf next to others.
๐ ๐ง๐๐ ๐ฏ ๐ฃ๐ฅ๐๐๐๐ฆ ๐๐ฉ๐๐ฅ๐ฌ ๐ฆ๐๐๐๐๐ฅ ๐ฆ๐๐ข๐จ๐๐ ๐จ๐ก๐๐๐ฅ๐ฆ๐ง๐๐ก๐
๐ฐ Asking Price
๐ Fair Market Value
๐ค Final Selling Price
And the truth is simple:
๐ The final price is decided by the market, not the seller.
๐ ๐๐๐ก๐๐ ๐ง๐๐ข๐จ๐๐๐ง
Pricing correctly from day one protects you.
๐ธ Better final price
โฑ๏ธ Less time on market
๐ค Stronger negotiations
Because in real estateโฆ
The market always decides.
๐ก๐ Pretoria North Real Estate Insight
