The launch of the first MyProperty Sentiment Index provides an unfiltered look at how overpricing is affecting South Africa’s property sector — and the findings are striking.
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According to the survey of over 200 estate agents, 88% of estate agents report encountering overpriced properties often or always, with many losing mandates to competitors who inflate valuations to secure listings. Yet in most cases, those homes return to the market later at reduced prices.
“Overpricing damages trust, wastes time, and hurts the reputation of the industry,” says Adriaan Grové, CEO and Founder of Entegral and MyProperty. “Agents are caught between winning mandates and maintaining professional integrity. The result is a market that’s less efficient, and consumers who are often disappointed.”
Key findings from the Index
- Mid-market and luxury segments are most affected by inflated pricing pressures, with 46.2% of agents flagging the mid-market segment as the area where sellers push unrealistic prices.
- Newer agents are more likely to accept unrealistic mandates, while experienced agents have learned to walk away.
- Nearly 90% of mid-career agents say they face overpricing constantly, with many losing mandates as a result.
The Index also highlights the psychology of pricing, where overpriced listings distort buyer perceptions and make correctly priced properties appear more attractive — a phenomenon known as the anchoring effect.
“Sellers often rely on online listings to gauge value, without tracking reductions or time on market,” Grové adds. “Agents who educate clients and refuse to fuel inflated expectations are essential to rebuilding trust in the sector.”
The MyProperty Sentiment Index will be released quarterly, aiming to provide actionable insights into industry challenges and strengthen transparency across the South African real estate market.
“By surfacing these realities, we want to empower both agents and sellers to make better decisions. Fair pricing benefits everyone — buyers, sellers, and the reputation of our profession,” Grové concludes.
To view the full report here.
Top picture: Adriaan Grove, Founder & MD, Entegral MyProperty.
