MAIN IMAGE: Tony Clarke, Chairman of Rebosa
The real estate industry has gone through some challenging times the past year, but despite numerous challenges has kept its head above water and reached many highlights. Growth in sales continued, competitive prices in certain areas remained the order of the day, the rental market was alive and new developments also continued, albeit at a slower pace due to Covid-19 restrictions.
In many cases Rebosa played a significant role to fulfil its obligations as representative body for the industry. Keeping the EAAB accountable was but one of the issues encountered during the year.
But what lies ahead in 2002? Tony Clarke, Rebosa chairman, sheds some light on what can be expected in the new year in the property sector.
“In 2022 we hope to collaborate with the EAAB on resolving its service delivery challenges once and for all. This would be a huge step towards achieving a mutually beneficial working relationship with our regulator and building a better professional future for the real estate industry as a whole.
“We wish the new board members well and welcome them to our industry and we encourage them to interact with industry role players to achieve this collaboration and a mutually beneficial working relationship,” Clark said.
“One of the biggest industry challenges we have had to take head-on is the transformation of the industry, although we struggled to get the EAAB to release requested data, we are adamant and looking forward to the new EAAB board to take industries hand and collectively find the path forward for real and sustainable transformation in our industry.
“Rebosa will continue to look after the collective industry’s interests specifically in terms of the new Property Practitioners Act and Regulations, assisting our members to comply with the new regulations going forward and assisting the EAAB in implementing all the new regulations within the industry. So, our role would be as one to ensure that all statutory requirements are met in the industry.
“Rebosa will continue to try and continue to collaborate with the EAAB in order to rectify the service issues, having said that Rebosa’s mandate will continue to hold the EAAB accountable to ensure that estate agents continue to operate free and fairly,” he said.
Commenting on what could be expected for the industry in 2002 Clarke said he foresees negligible impact on demand for property in the sector in the new year.
“We expect a slow rise in interest rates to kick off in Q2 2022, with two or three small, incremental increases over the course of the year. We do not expect this to have much impact on demand at this stage. Consumers have proven very resilient and their confidence in property as an investment remains strong.
“We are looking forward to property price capitalisation and a buoyant property market, I think we’re a lot more likely to see a slow and steady return to healthy appreciation after an extended period of suppressed growth. This will, of course, depend on some external factors like economic recovery, but I firmly believe that we have what it takes to make this a truly spectacular year for 2022.
“I still believe that there is a huge demand for property in SA. No matter what is happening in the world, people still need a roof over their heads, which will always mean that they need to be able to keep buying, selling, and renting property. “
Clarke said innovation has certainly not been in short supply for the property industry, with Covid-19 necessitating an accelerated adoption of technology across the board. Digital revolution will continue over the course of 2022, creating ongoing improvements in customer experience for property buyers, sellers, and investors. There has seldom been a more exciting time to be involved in property, we are just scratching the surface of what technology can do for the property experience.
“Safety also remains a vital consideration with Covid-19 still prevalent, and sellers are more than justified in restricting in-person viewings to qualified buyers only. The Covid-19 protocol published by Rebosa should be followed, ensuring agents follow these best practices to the letter.
- To view the complete REBOSA Covid-19 guidelines, visit https://www.rebosa.co.za/rebosa-covid-19-workplace-readiness-guidelines/