select
|

Real estate barriers breaking down, survey shows

Transformation in SA’s real estate industry is speeding up, a new survey shows.
 
The results of the just-released poll show that black agents now make up 10% of the total, compared with just under 4% five years ago, when the number of agents registered with the Estate Agency Affairs Board (EAAB) was roughly the same as it is currently.
 
“In real terms the increase means that the number of black agents registered has risen from about 2000 to around 4200,” says Dr Willie Marais, national president of the Institute of Estate Agents (IEASA) “and we are delighted at this growth, which we see as an important sign of that the residential property market overall is becoming more integrated.
 
“It reflects not only the rising percentage of black buyers in the market but the fact that the divide between the so-called township markets and the traditional suburban markets is narrowing, with more people now transferring freely from one to the other.
 
“Indeed, this is underlined by a further finding of the survey, that 18% of all agents, or almost one in five, now include township homes in their marketing mix alongside suburban houses, sectional title and cluster homes, retirement units and agricultural properties.” 
 
The 2009 survey, conducted by an independent researcher with the backing of IEASA and Property24 as well as the EAAB, is the second such poll ever conducted in the SA real estate industry, the first having been done in 2004.
 
Distributed to 42 000 agents registered with the EAAB, it probed a wide range of characteristics of agents and agencies, including demographics, business activities and technology usage, as well as compensation structures and although participation was entirely voluntary, it drew a strong response.
 
This revealed among other things that the typical SA agent is aged between 35 and 55 (54%); married with two children (72%) and earns R13 000 or less a month (54%) by working on a commission-split basis in an independent agency (74%). IEASA will release further findings over the next few weeks.
 
Issued by the
Institute of Estate Agents of SA


  Comment on this Article

  Please login to post comments

Post to my facebook wall
  
2000
Characters remaining


    Latest Property News
    • 21 Feb 2018
      Given the hand they were dealt, government has performed a delicate balancing act which it is hoped will serve to reignite confidence in investment in South Africa, regain our global credibility and satisfy the credit ratings agencies, says Dr Andrew Golding, chief executive of the Pam Golding Property group.
    • 21 Feb 2018
      The real estate mantra, ‘location, location, location’ remains a strong market influence regardless of the prevailing economy, with suburbs like Rondebosch enjoying the buffering benefit of being ideally situated.
    • 21 Feb 2018
      These days most buyers are using online property portals like Private Property when house hunting due to the convenience, up to date information and variety on offer. “The property portals have revolutionised the way buyers shop, but they do need to be cautious – viewing photos online is no replacement for viewing the property in person,” says Bruce Swain, CEO of Leapfrog Property Group.
    • 20 Feb 2018
      Owning a home is a milestone that most South Africans aspire to. Becoming a homeowner is a step towards growing personal wealth and owning an asset that appreciates in value over time, provided of course that the correct principles are applied during the buying stage of the process, says Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa.
    • 20 Feb 2018
      The suburb of Greenstone in Johannesburg east came to be over the last two decades. “In the beginning, it was literally just a hill with not so much as a shopping centre,” says Michael Levy, Property Consultant at Jawitz Properties Bedfordview. Today it has plenty shopping facilities and is fully built, boasting high-density, upmarket housing and residential estates, though still has a few pockets poised for commercial development.
    • 20 Feb 2018
      A major shift in the ageing paradigm has precipitated an equally dramatic transformation in the retirement sector, with modern accommodation options worlds away from the conventional model.
    • 19 Feb 2018
      Possibly one of the biggest sources of contention between landlords and tenants surrounds the rental deposit. “Most tenants rely on getting their rental deposits back when moving, so that they can use it to pay a deposit on their new home. Having it withheld or even having large amounts deducted can lead to a lot of distress,” explains Bruce Swain, CEO of Leapfrog Property Group.
    • 19 Feb 2018
      Situated approximately halfway between Johannesburg and Pretoria, Midrand was established in 1981 and forms part of the City of Johannesburg Metropolitan Municipality. It has become one of the major business hubs in the country with major pharmaceutical, textile, telecommunication and motoring giants situated within its boundaries.
        
    X
    Subscribe to the MyProperty Newsletter

    Name  
    Last Name  
    Email Address  
    Email Frequency
    select
    X
    Share this Page

       
    For Sale Property
    Rental Property
    More Options
    About
    Connect with us
    FEEDBACK