Archive for March, 2008
« Previous EntriesSelling Homebuilding Contracts continue…
Monday, March 31st, 2008The selling process
Certain builders offer a “one-stop homebuilding service” which encompasses the full spectrum of services including architecture, design, planning, finance and building. Another option would of course be owner building, but caution should prevail.
Owner building requires experience, attention to detail and a degree of foresight in controlling costs. Many people think that they […]
Selling Homebuilding Contracts
Monday, March 31st, 2008Much of the content of this post has to do with the sale of so-called “second-hand houses” or the sale of existing housing accommodation.
Many prospective homeowners however have specific needs which they feel cannot be met in the real estate arena and thus turn to a homebuilder to create their “dream home“. Most homebuilders sell […]
Selling Sectional Title Off Plan continue…
Monday, March 31st, 2008Financial
Selling off plan offers further definite advantages to a purchaser. These could include mainly:
payment of deposit over a period;
all costs, including VAT/transfer and legal fees;
more time to sell their house/property or raise any additional finance;
registration of transfer will often coincide with occupation, eliminating occupational rent.
Commissions
As transfer only takes place approximately 6 months later, the upfront […]
Selling Sectional Title Off Plan
Monday, March 31st, 2008The Sectional Title market has evolved through various stages before arriving at its current format. Starting off with the traditional block of flats, generally encountered in CBD areas of any metropolitan area, or on our coastlines and ending with the current suburban situation.
In affluent suburbs, with a general height restriction of 2 or 3 storeys, […]
The Auction Alternative
Friday, March 28th, 2008There are cases where the auction route is not the best. For example, where it is a specialist property and only one party could buy, such as an airport or where the most suitable purchaser may be a statutory body which is prevented from buying by auction.Another undesirable situation occurs when the property has been […]
The Auction Alternative
Friday, March 28th, 2008Rand Realty
An auctioneer is a person who conducts an auction.
Auction is a method of offering movable or immovable property for sale to a large number of people simultaneously. The potential buyers then have the opportunity to compete with one another until one person is acknowledged as the highest bidder. That person then pays what was […]
Who is a buyer? continue…
Friday, March 28th, 2008Face-to-face discussion
Apply the principles of a professional Master Agent.
Create a friendly comfortable atmosphere.
Know your subject, be confident and instill confidence, show a
liking for your customers and get them to like and trust you—be trustworthy.
Ask questions—listen to the answer without interruption. The subject of finance is often described by agents and lecturers to be the […]
Who is a buyer?
Friday, March 28th, 2008One of the most important aspects of Real Estate Marketing is Time Management and the need to avoid wasting precious time.
Every minute that an agent spends with a prospective purchaser should be productive and worthwhile.
We owe it to ourselves, buyers and sellers, not to waste each other’s time.
To this end it is essential that we […]
New Housing Subsidy System part 3
Thursday, March 27th, 2008The White Paper emphasizes that the present budgetary allocation to housing is entirely inadequate to support the housing programme envisaged in the RDP and that it will be essential for
Government to adjust its priorities in this regard, if it is serious about achieving its target of one million houses in five years. It also emphasizes […]
New Housing Subsidy System Part 2
Tuesday, March 25th, 2008Following on from this 8 joint technical committees have been established between the Department of Housing and the National Housing Forum. Their job is to develop policy in these priority areas:
Overall housing strategy;
Housing subsidies;
Retail lending initiatives and the provision of housing credit;
Institutional arrangements, fund mobilization and the National Housing Budget;
Land planning;
Hostels;
Sector efficiency and effectiveness; […]
New Housing Subsidy System Part 1
Tuesday, March 25th, 2008On 27 October 1994 the Housing Accord was signed at Botshabelo in the Orange Free State. This laid the foundation for the passage of the White Paper on a new housing policy and strategy for South Africa. Typical of the prevailing democratic mood, representatives of each of the undermentioned groups made a joint and several […]
Qualifying Buyers
Tuesday, March 25th, 2008It is a proven fact that qualification is the key to higher sales. The “willing and able” concept is so often forgotten by estate agents yet it is such a simple phrase to remember. The phrase is analysed in an easy to read, easy to understand, and easy to apply formula. The correct application of […]
Qualifying Sellers continue…
Tuesday, March 25th, 20084. Knowledge of the seller’s individual objectives and motives
This area would be the most crucial in correctly qualifying a seller. An agent cannot help a seller (and in turn help him/herself) until the agent knows the seller’s real needs. It is essential to earn the seller’s trust and confidence so that the seller will feel […]
Qualifying Sellers
Tuesday, March 25th, 2008Many newcomers to the industry, and in some cases even experienced agents, fall into the trap of spending a lot of time and money on so called ‘sellers‘ who don’t really want to sell.
Since an agent is only paid commission when a successful sale is concluded, it makes sense that an agent should know how […]
Benefits of a Sole Mandate continue…
Saturday, March 22nd, 20087. Sellers‘ Convenience
Suitable appointments can be made with the sellers for people to view the property. The agent will keep these appointments and the sellers will not be inconvenienced. The seller will be left in peace and not harassed, troubled or confused by many agents, each making their own appointments. Furthermore there is far greater […]
Benefits of a Sole Mandate
Saturday, March 22nd, 2008Many estate agents find it very difficult to sell the benefits of a sole selling mandate. On analysis it appears that the main reason for this is that the agent is not ready to accept responsibility for non-performance. If any agents do not believe in the benefits of a sole mandate, how are they expected […]
Resettling the Tenant in Sectional Title Selling
Friday, March 21st, 2008The human factor is a major consideration that must be taken into account by an estate agent involved in the selling of flats which had previously been let.
It is imperative that the developer is made aware of the plight of each tenant in the block that the estate agent is handling on his/her behalf. Unless […]
Buying a Home How Agents Can Assist
Friday, March 21st, 2008Nearly every family, and many single folks, dream of buying their own home. Putting down roots, establishing a home and providing a safe environment for children to grow, is a priority. Although buying a house is most exciting it can also be very stressful! More families have more arguments over which house to buy than […]
Banks and Mortgage Finance (Lending criteria)
Wednesday, March 19th, 2008Lending criteria
Residential mortgage lending criteria accordingly concentrate on two areas:
1. The applicant
This investigation involves establishing whether the applicant can and will repay the loan. By examining the size of the applicant’s income compared to other expenses so as to ensure that the instalment is affordable. Ascertain that the income is reliable, based on the […]
Banks and Mortgage Finance (Residential Mortgage Loans) continue…
Wednesday, March 19th, 2008Loans are granted by bank managers. Their lending limits are based on the experience of the manager; the size of the loan; or overall exposure to the customer.
In terms of banking legislation, residential mortgage lending is accorded a more preferential capital risk weighting compared to other forms of lending. This is because the loan is […]
