JOHANNESBURG, SOUTH AFRICA, March 10, 2010
/24-7PressRelease/ -- The world of estate agents is transforming. You no longer have to worry about your estate agent's ability to actually manage a
Constantia property sale on your behalf, because all estate agents have to be registered with the Estate Agents Affairs board. This new ruling has already had an impact on the "cowboys" in the industry which means less concern over the competency of the agent and a far smoother property transaction for you. This seems like an excellent move considering the plethora of Blouberg and
Somerset West properties on the market and the investment opportunities available for potential buyers. This announcement may have a direct impact on current estate agents not suitably qualified who do not meet the new education regulations.
Linda Erasmus, CEO of property group Fine & Country South Africa who notes that there is still a lingering perception that the real estate industry is a 'soft option' populated largely by individuals who "can't crack it" in other professions, says "Nothing could be further from the truth thanks to the recession and new legislation governing the industry amongst other factors", she continues, "The general public tends to regard the real estate industry as an easy, 'get rich quick' line of work and that estate agent's commissions are largely over-inflated."
According to Linda Erasmus, CEO of Fine & Country, South Africa, this is certainly not the case, it is a nationwide misperception. She explains, "The fact is, property marketing is an extremely demanding occupation and the industry was particularly hard hit by the global meltdown given the lack of confidence in this market following the 'sub-prime' fall-out, general lack of financial liquidity and the fact that bank lending dried up to a large extent."
There are many homeowners looking to invest in
property in Franschhoek, or Constantia and people are always a little concerned about how skilled their estate agent is and if they are even registered. Erasmus says, "Evidence of the economic crisis manifested in the form of a massive estate agent fallout. At the beginning of 1996, the number of South African real estate agents totalled 80 000. Today, only about 30 000 are registered."
Erasmus says that although the recession is chiefly to blame for the fallout, the fact that agents are now required to adhere to strict qualification criteria (as set down by the Estate Agency Affairs Board) has also played its part in reducing the number of agents. Up until July 2008, anyone who could afford the registration fee to enter the property industry could do so. It seems that the days of buying your way into the property industry are long gone and that the industry will be left with regulated, registered and skilled property estate professionals. It is perhaps an improvement for all, as only the dedicated and trained will continue in the industry and the bad will fall away.
If you want to invest in a residential property purchase, than you can be assured of competent service from a registered estate agent at Fine & Country, across South Africa. Whether you are looking for a
property in Blouberg or Fish Hoek, Fine & Country Property Group estate agents will exact their leading experience and expertise when you contact them for assistance. If you want to diversify your property portfolio in Franschhoek or Somerset West, call the professionals today!
Fine and Country Real Estate have their origin in the UK, but the South African property buyer will have the benefit of local property experts available to assist when searching for a home in South Africa. Fine and Country property agents are trained, skilled and reliable, offering the discerning local or overseas buyer professional property advice.
Website:
http://www.fineandcountry.co.za---
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