Restraint of trade is one of the thorny issues in the real estate industry, sometimes leading to the employer and employee ending up in court as recently happened. This is a competitive industry but how fair or even constitutional is imposing a restraint?
High property prices, especially in and around metros, soaring building costs, rising consumer inflation and an increasingly subdued economy have fuelled the development of innovative alternatives including a surprising growing market for luxury homes constructed from shipping containers.
Many estate agents raised concerns about First National Bank’s recently promoted online service to homeowners wishing to sell their homes, feeling it is an intrusion into their industry. Legal expert John Gilchrist takes a look at the issues and concerns raised.
The property market remains a buyers’ market as property experts expect continued slow growth in the first two terms of 2019 while the outcome of the general elections is awaited.
Buyers and investors should not allow the current unsettled state of the global and local economies to cloud their vision of long-term gains, says Berry Everitt, CEO of the Chas Everitt International property group.
There have been two recent cases dealing with agencies that traded without fidelity fund certificates (FFC’s) which should interest estate agents in South Africa.
No FFC no claim to sue for commission ruled acting Cape Town High Court judge Diane Davis on 12 December 2018 – a ruling that has thousands of agents worried as this directly impacts their income while still awaiting the Estate Agency Affairs Board (EAAB) to issue their FFC’s for 2019.