5 Things Conveyancers Wish all Estate Agents Knew
TIME IS MONEY
Or so they say. In today’s technology-driven world, there are myriad ways to increase productivity and, ultimately, sales. If 28 years of conveyancing has taught me one thing, it is to put the needs of the client before your bottom line, and often this works in your favour anyway.
WORK SMART, NOT HARD
The simplest, easiest way to avoid disappointment is to ensure your clients are prequalified – and to know how much they qualify for. As much as we would like to sell every buyer a dream home, sometimes it’s just not possible.
Too many agents spend hours and hours of valuable time showing houses to potential buyers who either can’t afford the properties they’re looking at or who don’t qualify for a loan at all. To avoid “selling” the same house four or five times, look to the new online pre-qualifying services available and make sure your potential home buyers are credible.
KNOW YOUR STUFF
Look out for the multiple initiatives, products and government subsidies being launched that can save your clients money, and can be the edge that guarantees your sale. For example, the Finance Linked Individual Subsidy Plan (FLISP) is largely ignored because of a lack of knowledge about who qualifies, and how to go about obtaining the subsidy. As well as constituting savings upfront, they could end up saving the home owner hundreds of thousands of rands over the course of their home loan.
AN INFORMED BUYER IS A SAFE BUYER
More than 50% of home buyers are entering the market for the first time. Often these new clients are extremely daunted by the property market and lack the basic know-how for buying a house. This becomes even more apparent on the financial side, when transaction costs, hefty deposits and home-loan repayments can leave buyers dazed and confused.
Try an education-based sales approach where you can inform buyers of the various financial responsibilities and pitfalls that could occur during and after a sale. This will give your client peace of mind and it will generate a relationship of trust that could lead to further sales or word-of-mouth referrals.
LAY THE GROUNDWORK
Property sales are often complicated, protracted affairs, so making sure that the proper groundwork is in place helps in the long run. Ensure the correct checks have been made: many times, a sales agreement is not 100% complete, property descriptions are incorrect, exclusive-use areas are left out or properties are sold without a distinction between “occupation with tenants” and “vacant” occupation. Sometimes important information for the execution of a legal notice is omitted, such as the addresses of buyers and sellers.
Every detail that you’ve signed off, ready to go, is one step closer to closing a deal. Your seller will be happy with a quick sale and your long-term reputation will be enhanced.
Meyer de Waal is a practising conveyancing attorney at Oosthuizen & Co Meyer de Waal. With 35 years of experience in real-estate matters and estate law, he has been involved in various innovative housing solutions and educational programmes on the market.
- Oosthuizen & Co: oostco.co.za
Words: Meyer de Waal