Harcourts defies industry norms

Data recently released by Harcourts Real Estate South Africa (Harcourts) revealed that the growth of the national franchised real estate company has far exceeded that of industry standards.

“In the past two years we have experienced phenomenal growth, which is especially significant at a time when many real estate groupings are shrinking, and the industry as a whole has declined quite considerably,” explains Richard Gray, CEO of Harcourts.

Whereas the residential property industry reported a growth of only 5% year-on-year in 2011 compared to 25% in 2010, Harcourts has experienced a year-on year growth of 27% in 2011 and 45% in 2010. “Furthermore, Harcourts’ aggregate sales growth in the last 2 years is a staggering 87%,” confirmed Gray.

The value of residential transactions nationally increased from R151 billion in 2010 to R158 billion in 2011, which represented an increase of 7000 property deals in 2011 from the 217000 deals in 2010.

“Across the board the strong recovery in 2010, which followed a low point in 2009, tapered off in 2011 for the industry and as a result both house price growth and volume declined significantly in 2011. It is extremely encouraging to see that despite this, Harcourts still experienced extremely positive growth,” says Gray.

Contributing to its overall growth, in 2011 Harcourts increased its number of offices by 45% and the number of qualified Harcourts agents by 20%, ultimately enhancing its national footprint.

Gray attributes the extraordinary growth of Harcourts to the fact they offer a leading value proposition in all aspects of real estate. “Many independent agents have found it tough to keep up-to-date with the increasing demands of the industry especially in terms of technology and training. We provide internationally recognised technology systems that are built by Harcourts International and used by Harcourts in Australia, New Zealand, China and the USA. In addition to this we facilitate training courses to both new and experienced agents through the accredited Harcourts Training Academy,” says Gray.

Harcourts is a national franchise of real estate agencies specialising in the sale and rental of residential, commercial and rural properties. As a result of its steady growth over the last two years, Harcourts is now regarded as one of the top estate agencies in the country. Harcourts is also a member of Leading Real Estate Companies of the World® which forms the world’s largest Real Estate network with over 5,500 offices and 160,000 sales consultants operating in over 25 countries.

“We look forward to our continued growth and success in 2012,” ends Gray.

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