Spearheaded by an empowered black woman, your experience in buying or selling a home with Nadia Moses Real Estate is bound to be excellent.
Putting the client first is their priority, making sure each buyer and seller has the best price and experience while making one of the biggest investments of their lives.
Looking for a new challenge, principal-property practitioner, Nadia Moses, after working for several other agencies, decided to venture out on her own around five years ago.
Since then, the red and black branding and a multitude of success stories are some of what has solidified their place as a front runner in the real estate industry.
“We are not limited to any specific area. Other agencies have borders in which their agents must work, but I decided not to have that rule, so we can work anywhere,” she says.
“It is not about the money. It is about also educating the client so that they can make the best and most informed decision. This is their biggest investment. If it’s a small little house or a big one, it is still their biggest investment.”
Having worked in the industry for several years, Moses says she has seen and heard so many stories of agents doing dealings in their interest, rather than that of the client.Homes being overpriced to secure sole mandates, making unrealistic promises, and not properly managing expectations are some of what results in people losing their properties, or not being able to secure another.
Pre-approvals
The process of obtaining a bank pre-approval based on affordability is more important than most think. But not only for the buyer.
“When we sell a home, we always ask the client what their plans are after – if they want to buy or rent. If they plan to buy, we then do a pre-approval for the seller as well. We see sometimes that the sellers may not qualify to buy another house and then they have already sold their home and are now needing to rent,” she says.
“For some agents, they are quick to get the sale, and once they sell, they are not concerned about the sellers.”
Moses says for them, ensuring the client has all the right information is more important than just the sale.
The pre-approval is also a safety mechanism for the agency. Without it, agents will not show a house listed and marketed by them.
“We request this to make sure the buyer qualifies before we take them to see a property. When we list any house, we do not add the address. We do not want people just showing up. This is the seller’s investment, and we can’t take just anyone in there,” she says.
“Most don’t know how important a pre-approval is. It shows us that you are at least able to get a bond for the amount needed. We do the pre-approval for directly with the banks We work with all the major banks ” she continues.
“Many do not want to go through this step, stating it is their personal information, but we must. The home is also the client’s personal space, and we cannot just take anyone there. We ensure you are serious and qualified to buy before putting offers raises high expectations from sellers.”
Some of the most important aspects of buying property, even if you have just sold one, is your affordability.
Affordability is influenced by income vs expenditure but is also impacted by your payment history and credit profile.
Your overall debt profile, accounts in arrears and payment history are some of what credit agencies consider when determining a credit score – your relationship with credit and how you repay it. This is something that can, however, be improved over a period.
Market-related valuations
Another aspect of their process when selling a home is fair market-related valuation.
This is important when managing expectations from both a seller and buyer. Moses says several influencing factors determine a fair market-related valuation.
“We ask the seller what they want for the property. We use universal systems also used by the banks when looking at the price. We look at comparative sales around you, what the house was listed for and what has been done to the property,” she says.
“We then work on a maximum, minimum and average sale price for the area. Many houses will be priced out of the market and sit for six months to a year because sellers were promised they could get a lot more than what the property can sell for. The banks will ultimately evaluate the property and give a loan only if they believe it is worth the offer from a purchaser.”
Moses says it is better to have the house accurately priced than to sell the sellers at an unrealistic price to obtain a sole mandate.
“Banks borrow money on accurate prices. It is better, to be honest with clients upfront,” she says.
The overall price is also important for the seller.
“We sit down and go through all the associated costs so that the seller can see what their profit will be and if it will be enough, along with the pre-approval, to move on to their next planned step – buying or renting another house,” she says.
“I have been in the industry for a while, and I see and hear of how people lose their homes and walk away with nothing because agents do not tell them everything.”
Moses says the first step is to place your bond under cancellation. This will result in a minimal penalty as opposed to a hefty bill.
The agent should then also work with the client to look at how much is still owed on the existing bond, the commissions, outstanding municipal rates, and other bills and then see what the potential profit will be.
Moses says these services – valuations and pre-approvals – should be offered free of charge and are a free service listed with her agency. She warns locals to ensure their agents are registered and not in it to make a quick buck, especially now that Covid-19 has hurt households financially.
“They prey on people who are in trouble. Sell their homes and leave them stranded with nowhere to go,” she says.
Moses wishes to thank all her loyal clients and business partners for their continued support and look forward to being of service.
- For a reputable service in buying or selling your home, visit https://www.nadiaproperties.co.za/, https://www.facebook.com/nadiaproperties.co.za or call 0212050323/0846778459
