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Property 24/10 - 359

22 June 2017

25 Questions for sellers to ask before choosing an agent
Selling a residential property is always an emotional time for property owners. It is also a time of big expectations - how much money will they get for their home and how long will it take to sell?

While pricing a property correctly is essential to attracting serious buyers, Debbie Justus-Ferns, divisional manager of Renprop Residential Sales, says the first step sellers need to take is selecting an agent to work with in the marketing and sale of their home.

“This is perhaps the most crucial step in the whole process,” says Justus-Ferns.
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EAAB protects buyers and sellers against unscrupulous agents
According to a Homeowner Insights study conducted by Absa and Columinate in 2016, only 16% of people selling their properties trusted their estate agents.

Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa, says a possible reason for this statistic is a lack of proper expectations being set out from the beginning of the homeowner’s interaction with the estate agent.

“Estate agents need to be upfront with their clients, and from the outset give realistic guidelines and information as to what they can expect from the agent and the sales process,” says Goslett.

“Also, it is important to take into consideration that of the approximate 40 000 real estate agents operating in South Africa - not everyone can be considered to be a full-time professional agent, regardless of their qualifications. The property sales process is complex, and it should be handled by a professional who has the necessary experience to deal with the many facets involved.”
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Creating wealth through property: Five factors to consider
While the thought of owning and letting out property is an appealing financial venture to many, there is more to being a landlord than collecting the rent each month.

“Depending on the circumstances, owning a rental property can be fairly time consuming and involved, especially if you decide to manage the property yourself,” says Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa.

“It is possible for the endeavour to be financially rewarding, but it is vital to be fully aware of what it entails before taking the leap. Understanding what is involved and doing some research on the matter will put you in the best position to handle whatever may come your way, and increase the chance of making it a success.”
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Property sector achieves Level 4 BBBEE recognition
The South African property sector is making reasonable efforts towards transformation, but it needs to pick up pace according to CEO of the Property Sector Charter Council (PSCC), Portia Tau-Sekati, who says these are the findings of the latest research released by the PSCC on June 13, 2017.

The launch of the PSCC 2015 to 2016 State of Transformation Report for the Property Sector coincides with the gazetting of the long-awaited Amended Property Sector Code (June 2017 Gazette no. 40910) on Friday, June 9, 2017.
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Why you should help your children buy a home
As parents, we all want the best for our children, and that means helping them make responsible life choices and plan for a secure future.

Bill Rawson, Chairman of the Rawson Property Group, says one of the easiest ways to do this is to encourage sound, long-term investments like property, but getting a foot onto that ladder can be daunting when you’re just starting out in the adult world.

“It definitely pays to become a property owner as early on in life as possible, but trying to get a bond on a starter salary - even in a high-paying career - can be difficult to do,” says Rawson.
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Buyer's versus seller's market - what you need to know
As with the economy, the state of the property market is driven by supply and demand, which in turn is influenced by a range factors such as the state of the economy, interest rates, availability of credit, political and economic stability, and so on.

Gerhard van der Linde, MD for Seeff Pretoria East, says market forces are always shifting and the market moves through a number of cycles as it is influenced by the various macro and micro economic forces and factors.

So, we might talk of a seller’s market during a favourable economic phase, but then during a period of economic decline, we start talking about a buyer’s market.

Seeff Pretoria East and Centurion explain the key differences:
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