AB Properties Newsletter – July 2022

by AB Tromp on July 3, 2022

Welcome to the AB Properties monthly newsletter!

Latest News

I trust that each of you have experienced an immensely successful June and overcame all the challenges that was offered.  In the past few weeks, we’ve noticed that lenders are, to some extent, clamping down on valuations and requesting additional motivation for property prices, in some cases even from SARS on cash transactions.  A likely result from the steep price growth we’ve been experiencing over the past 8 to 12 months.  This is something we will need to be very aware of in July and going forward.

Having had the privilege to have worked in more than one region in my professional real estate career I’m able to draw some comparisons with regards to the various properties, prices, selling & buying culture as well market trends.  Something that I noticed early on, and has only slowly started to improve, is sellers’ negative sentiments toward sole/exclusive mandates.  For clients that have experienced the advantage of such a mandate and the services you’re rewarded with, this might seem foreign, but there are many property owners out there with a negative connotation toward these agreements.
From what I can gather, these sentiments originate from bad past experiences with incompetent agents that reasoned having negotiated a mandate, the work is done, as every buyer and outside agent will have to work through them and thus commission is guaranteed and no further work is required.  This cannot be further from the truth, and something that sellers need to realise, that an agreement was made to offer services and when these services are not delivered the agent is in breach and the agreement should be cancelled immediately.  The power is still in your hands as the seller.  Top property practitioners will see marketing your property as an investment.  If there is multiple agents working (and I’m using this term very loosely in this instance) on the property, the agents have a very low likelihood of experiencing a monetary return on their time, effort & money spent on the marketing.  Whereas a sole/exclusive mandate offers a much higher likelihood of experiencing a return on the investment.  Thus, a much safer option for the practitioner to spend money and time on the marketing of a property under sole/exclusive mandate as opposed to an open mandate.  As a result, the agent will gladly commit to a higher level of services and spend more attention to the marketing of your property under such a mandate, because the time & budget spent has a high likelihood of being recovered. 
This is the logic behind a mandate and how it is supposed to be approached, offering the seller much more peace of mind on top of all the other advantages of the higher service level offered like professional pictures, more exclusive marketing solutions and placements as well as safety advantages of a single agent controlling and qualifying access to your home.

Another note that resulted from the past month are costs involved with the purchase of a property.  It is very important to be sure of what you as a buyer are getting into financially, both short & long term with the acquisition of real estate and have clarity on the difference between attorney costs and taxes such as Transfer Duty & VAT and where they are applicable. This article should shed some very helpful light on this subject.

Enjoy the array of new properties on offer from myself & KW Eden in this edition and may the month of July be littered with growth, progress and new opportunities.

Remember to click on the Facebook or Instagram links embedded in each of the images to view the details, full image gallery and/or video. Alternatively, you can always follow my AB Properties pages here, and here, to stay updated on the new releases as they happen.

Featured Properties

SOLD!!

Thank you!

I hope you’ve enjoyed browsing through the AB Properties monthly newsletter for 2022 and I look forward to keeping you updated throughout the year and most certainly do some good business with each and everyone of you!

Also, remember we have an extremely rewarding referral programme at AB Properties, earn some good income by referring potential clients to us.  Whether it is sellers or buyers, you can earn with both.  You’re welcome to contact me for more information on this at any time.

To make direct contact with us, you can phone or Whatsapp me on +27 64 507 5801 or direct your email to ab@abeiendomme.com.  Looking forward to hearing from you in the New Year!  Stay safe and healthy!!