Author: Editor

Property leaders positive despite GDP shock

“The common denominator in today’s market is undoubtedly realistic pricing, as buyers generally are price-aware, seeking sound value for money. Over-priced stock will sit on the market.” The shock announcement that the country’s GDP declined by 2.2% in the first quarter of 2018 is disappointing, but property leaders expect the residential market to remain resilient. South Africans still need a roof over their heads after all, it must just come at a realistic price. “The news that the first quarter GDP shrunk by 2.2%, the worst in 9 years is indeed very disappointing given the improved confidence and positive...

Read More

Court denies relief to HOA and estate agency

At the heart of the matter is whether through this partnership agreement and the subsequent marketing efforts of the Atlantic Beach Homeowners Association (HOA), the HOA’s conduct can be classified as that of acting as estate agents. Property partnerships between homeowners associations (HOA’s) and estate agencies came under legal scrutiny when the Cape High Court was approached recently by such a partnership hoping for a court order to restrain the Estate Agency Affairs Board (EAAB) from instituting disciplinary action against the parties. The Atlantic Beach HOA and Pam Golding Blouberg estate agency lost the application with costs. At the...

Read More

CPA: Direct marketing and allied issues

Many agents use direct marketing techniques very professionally but care needs to be exercised in view of the provisions of the Act. There are many provisions in the Consumer Protection Act that affect direct marketing and other marketing issues and it is important for estate agents to know them. John Gilchrist, director of Property Law Publications, explains further in this third article in his series on the Act. Advertising properties with catchy titles  Section 44 of the Act provides that suppliers of services, which includes all estate agents and conveyancers, must avoid being accused of failing to disclose any...

Read More

5 Reasons why sellers should avoid a private sale

Your knowledge and experience of the property transaction process is priceless and can’t be obtained with a few quick searches on Google. Another fuel price hike is looming in June. Considering that as well as already having to cope with rising food prices, the VAT increase etc, many property owners may want to opt to save on the ‘high’ commission of a traditional estate agent and rather try to sell their property privately through the various online options, but do they know all the risks involved? Here are five good reasons you can use to persuade them to rather...

Read More

POPI: Are you prepared?

“Personal information is an integral part of the real estate business. The more an agent knows about a client, the better equipped they are to finding the ideal home that meets the individual needs of that client.” This could be the year the Protection of Personal Information Act (POPI) becomes operational, following which there will be a 12 month window period before compliance is formally policed. Being legislation with far-reaching implications also for the property industry, here is the latest on what is happening with POPI. When the POPI Act was signed into South African law in November 2013,...

Read More

Follow Us