Distressed properties an 'important market'

Distressed properties an 'important market'

12/3/2012 8:33:08 AM

Home sellers who have fallen on difficult times remain prime real estate clients and deserve the same level of service as any other buyer or seller.

That's the view of Charl Els of the Aida Roodepoort franchise who is very active in marketing distressed properties.

"Mandates issued by the four big banks for the sale of properties under pressure represent about 15% of our listings currently.

"And although reserve prices of distressed properties are typically about 80% of market value, we consistently achieve at least 95% of market value. On top of that, we sell 75% of all the properties we list on bank mandates."

He says tough economic conditions affect homeowners in all property classes. "We have mandates for homes across all price ranges, from R350 000 to R2m. That's a clear indication that consumers in all income brackets have been affected by the recession and the tough financial situation since then, as many forced sales are due to bondholders losing their jobs and regular income."

But, he says, sellers who have to liquidate their properties remain bona fide real estate clients.
"Our view is that in spite of current circumstances such clients deserve the best possible service. Our approach is based on four considerations. The first is to achieve a fair price as soon as possible to allow the seller to consolidate his financial position. The second is to accept reasonable offers that represent up to a 5% discount on market price to expedite the transaction to the benefit of the seller, the buyer and the bank.

"The third is that by actively marketing distressed properties as close as possible to current market value, market statistics are not distorted and, fourthly, we realise that distressed sellers' circumstances may change and they may well become clients again in future."

Aida Pretoria agents scoop up awards

30 Nov 2012

Aida real estate group had a number of awards to hand out at its national awards ceremony.

Pretoria North estate agent Jackie Meyer was named Agent of the Year by the national Aida real estate group and hers was just one of the many honours claimed by the group’s Pretoria franchise.

Pretoria North estate agent Jackie Meyer wins the Aida Agent of the Year. Her award was presented by Neville McIntyre, chairman of Aida’s parent company Jigsaw Holdings, at the group’s national awards ceremony.

The Pretoria East office took home the trophy for the Top Office overall, having won the annual awards for the Top Metro Office and the Top Office (Commission) as well.

Pretoria East agent, Sanette Genis was honoured as the highest earning agent of the year, while Pretoria North agent, David Mmantji was named as the agent having sold the highest number of homes, helping boost his office into its position as the Top Urban Office and Top Office (Units).

Mariana Louw, also from Pretoria North, claimed the Rookie Agent of the Year title while Ewa Schütt of Aida PretoriaCommercial rounded off a successful evening for the franchise by winning the Non-Residential Agent of the Year award.

The awards were presented by Neville McIntyre, chairman of Aida’s parent company Jigsaw Holdings. McIntyre says the awards were made in recognition of the winners’ clear dedication to success through excellence, even in the face of an unpredictable political outlook, an economy hampered by low productivity and rapidly rising household expenses that are putting a severe damper on affordability.

“The success of these agents and offices shows once again that Aida is a great family of winners – people with imagination, courage, tenacity, resourcefulness and responsibility,” he says.

Top tips for estate agents

To survive and prosper in the real estate industry, estate agents must understand and accept the challenge of rising client expectations. 

To differentiate themselves agents should learn to provide more and much better quality information and advice all the time and without hesitation.

This is according to Neville McIntyre, chairman of Jigsaw Holdings, the parent company of the national Aida real estate franchise group. 

Speaking at Aida’s recent national awards ceremony, he says the message that estate agents worldwide were getting now from clients was that they were expected to be effective, responsive, empathetic, specific and above all, reliable. 

To differentiate themselves, he says, agents were also having to learn to provide more and much better quality information and advice all the time and without hesitation. 

“For example, the quality of a simple listing photograph can make all the difference between a potential buyer noticing your client’s property among thousands of others advertised on the Internet. 

Similarly, he says, clients have much more confidence in agents who are well-prepared and can quickly provide knowledgeable, detailed information on the area they are interested in. They will also more easily trust agents who have learnt to communicate often and have put in the time and effort to become properly qualified and who conduct themselves professionally, he says. 

However, McIntyre says, agents also need to understand that clients will quickly see through them if they are only ‘going through the motions’ of being professional. 

“To be really successful, agents must also be proactive and forward-thinking in meeting client needs and above all, must genuinely love what they do.”

WHAT REAL ESTATE CLIENTS REALLY WANT

WHAT REAL ESTATE CLIENTS REALLY WANT

To survive and prosper, the real estate industry must understand and accept the challenge of rising client expectations.

So says Neville McIntyre, chairman of Jigsaw Holdings, the parent company of the national Aida real estate franchise group.

Speaking at Aida’s recent national awards ceremony, he said the “message” that estate agents worldwide were getting now from clients was that they were expected to be effective, responsive, empathetic, specific and above all, reliable.

To differentiate themselves, he said, agents were also having to learn to provide more and much better quality information and advice, all the time and without hesitation.

“For example, the quality of a simple listing photograph can make all the difference between a potential buyer noticing your client’s property among thousands of others advertised on the Internet or not. And you don’t get a second chance at that.

“Similarly, clients have much more confidence in agents who are well-prepared and can quickly provide knowledgeable, detailed information on the area they are interested in. They will also more easily trust agents who have learnt to communicate often and well, have put in the time and effort to become properly qualified and who conduct themselves professionally.”

However, McIntyre says, agents also need to understand that clients will quickly see through them if they are only “going through the motions” of being professional.

“To be really successful, agents must also be pro-active and forward-thinking in meeting client needs and above all, must genuinely love what they do.”