The private house sale is a lot easier than you would like to believe. If you follow a step by step process you will find your private house sale a lot easier to achieve than not.

There are numerous book about selling real estate. Most are aimed at Estate agents and not the private seller. The private seller has a few issues that he needs to resolve in order to allow him to achieve a private house sale.

The first issue he is faced with is pricing his property correctly. Incorrectly priced properties do not sell, especially in soft markets. A soft market or a buyers market is when supply exceeds demand. Estate agents have been telling us that this is impossible because only so much land exists.

Estate Agents are obviously not studying historical data and taking other financial processes into account. The current buyers market is caused not by the over supply of land as we agree with the Estate Agents, there is only so much land to go around, but by the luck of funding available.

In South africa specifically the lack of funding was created by the National Credit Act. It suddenly became dangerous for financial institutions to advance money to people that may not be able to cover it. In the past it was a simple thing for the financial institutions to recoover their money by reposessing and selling the asset. Now however the person borrowing the money could prove that the bank loaned them the money irresponsibly and retain the asset.

I would say this would have had an immediate negative impact on the then booming property market and I was not incorrect. The world wide economic crisis has further added to the woes and we now have more supply than demand.

Cash strapped homeowners are desperate to get out of fast decreasing assets. They cannot afford to pay fpor their homes because of increases in interest rates. They cannot sell because of negative equity, Buyers cannot get financing because of the inability to afford.

What property bubble leading Estate agents said to me not one year ago.

Guy McLaren is an ex Estate Agent, with qualifications up his wazzoo including Advanced Property Marketing certification. You can find out more about him at his blog