DESPERATE sellers of residential property were described as “distressed” this week by Rael Levitt, CEO of The Alliance Group. “Despairing” may be closer to the mark.
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One estate agent trying to flog an immaculate two-bedroomed flat in a dodgy part of town informed us when we entered that the owners were asking for R650000. As we left without showing any hint of putting in an offer, she brought the price down to R540000. She called me the following day to say the owners might accept R450000.
I wouldn't be suprised if they accepted less than that in the end.
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