Archive for the ‘FAQ’ Category
The deadline for the Services SETA NQF4 exam, for those agents who received their licences before 16 July 2008, has been extended until 2015.
Agents who qualified after this date (16 July 2008 to 31 December 2012) should have sorted out their NQF4 by the end of last year. While in theory the penalty for missing this deadline is a drop down to intern status, if you did not make the cut you are strongly advised to sort out your licence as soon as you possibly can to avoid the possibility of this happening to you.
Failure to do this could also hamper your chances of achieving Principal status as you need to obtain your Level 4 PDE within two years of receiving your NQF4 qualification.
- Consumer Protection Act
- Rental Housing Act
- National Credit Act
- Amendments to the Sectional Title Act
Also bear in mind that technology is playing an ever more important role in your profession. Agents who use technology are going to replace those who don’t – regardless of skills, experience and other factors. If you are not savvy consider doing a short course to up your proficiency, especially in the area of mobile technology as this is without doubt the way forward.
Remember that becoming a real estate agent is fast becoming a career of choice, and it is anticipated that all entrants to the industry are soon going to require a university degree. Participating in ongoing training is the only way to stay up to speed and ensure your top spot.
Continuing Professional Development (CPD)
It is also vital that you are up to date with your CPD status. This model is structured around six categories, each with a point allocation, and you need to obtain 60 points within a three-year period in order to retain your full status.
Should you fail to do this, you will not be able to receive an FFC for the following year. For more information, go here.
An estate agent recently asked …
“As I understand it presently, a listing that includes the address and a virtual tour is allocated a stronger ranking on the Private Property website. Although this may appear to be a fair way of ensuring great quality listings, one aspect that seems to be neglected is the issue of security.
“By doing a virtual tour, supplying the address and providing quality photographs, we are enabling the criminal element of society. Although great for buyers, this opens the owner up to possible exploitation by criminals. I have had a couple of clients refuse virtual tours because of this, and have personally removed an address from another property that has a virtual tour on it because of the exposure to our clients.
“I do believe that this issue needs to be re-addressed, and should be removed from the ranking score.”
Here’s our answer …
“I think security is certainly a point to consider.
“The issue is that buyers want to see this important property information, and if they want to see it then we should rank properties where those details are present. Our primary role is to market properties in a way that gets the seller and their agent the best possible results. We have shown that virtual tours increase a property’s exposure on our site by 50% on average. This serves our main goal of property marketing. If security is a major concern, we don’t require these elements to list.
“It must be said that photographs do almost as much to show the contents of a home and for sale boards on the lawn indicate where those properties are located. Further to these, show days probably offer a greater security threat than any other property marketing activity.
“Security is a concern for all South African homeowners and we respect that. However our role, the task expected of Private Property and other websites like us, is to market property effectively. We strive to minimise the risks wherever we can while still offering a premium property marketing service.”
In terms of the Standard of Training of Estate Agents Regulations Act, 2008, estate agents who were registered on 15 July 2008, the date when the Regulations came into effect, were required to be certificated against either the Further Education and Training Certificate: Real Estate (NQF Level 4) for non-principal estate agents or the National Certificate: Real Estate (NQF Level 5) for principal estate agents by 31 December 2011.
This certification period was extended to 31 December 2013. It has become increasingly apparent however, that a further extension of this period is required if the needs of the estate agency sector in general and the affected estate agents in particular are to be accommodated. Many of the affected estate agents have, unfortunately, delayed enrolling for certification against the required real estate qualifications while other unanticipated delays have also seriously hampered the finalisation of the certification process, including the necessary de-accreditation of certain real estate education providers and recognition of prior learning assessment centres as well as the lack of performance and the due exiting of learners manifested by others.
Thus, a further and final extension of time until 30 June 2015 has been granted for affected estate agents to be certificated against the required real estate qualifications.
It is to be underscored that those affected estate agents who have still not been certificated by the extended date will not be issued with fidelity fund certificates, entitling them legally to perform the functions and activities of an estate agent, for the 2016 calendar year.
No, No, No, is the first reaction we get when we do Sole Mandate training sessions with estate agents.
“The market is tough, the seller doesn’t want to. The agents don’t know how to…”
Haven’t we heard all the excuses in the book for not signing that sole & exclusive mandate?
Yes, we all know it’s a numbers game, we know he who rules the stock, rules the area, but we also know by signing a Sole & Exclusive Mandate, we sign our own Salary Cheque at the end of the month.
An interesting fact is that 80% of all buyers worldwide start searching for property online and what better platform to advertise than on Private Property.
Don’t be shy; tell your seller you will advertise on the busiest Property Website in South Africa, www.Privateproperty.co.za
Tell him that you would like to send weekly sms’s and emails to all registered buyers matching his property criteria. (By the way, we have more than 700 000 unique browsers visiting our website monthly)
Also offer your services by booking Show days, and if show days are not really your style………offer a virtual tour or even a video tour, or what about an online auction?
And by doing all of the above, you can with confidence tell your seller that you will give his property the best possible exposure!
Be Professional, be transparent, use the Private Property website to your advantage, but most of all be yourself!!
Have a read through the ABCD of Sole Mandates:
A – ATTITUDE & ACTION
- Self-confidence/ Look enthusiastic! (Sell yourself, it’s all about you)
- Find out why they are selling?? Be wide eyed!
- Have empathy! (but don’t get emotionally dragged into the client’s business)
- If Price and Reason for selling, do not talk to each other – caution!!! Don’t let the seller think you are agreeing, if you know you cannot deliver!!!
B – BE PREPARED!
- Be ON time. Look the part!
- Do proper Lightstone reports on the property before you go! In order for you to know and explain pricing! Have a plan of action it’s going to give you self-confidence!
- ACTION – Have a Plan of Action! Marketing Plan. What are going to do???
- Tick off what you are contemplating doing for them!
- You need to know what you are talking about. Who are you/company?
- BRAG BOOK. (Keep it short and to the point!)
- You had time to assess the situation:-
- NOW – 5 deadly D’s of Selling (Seller will look at an offer)
* DEATH * DEBT * DIVORSE * DEPARTURE * DESERTION
C – CILLAX –CONTRACT
- Have a Sole mandate contract on hand!
- Have fun! It’s very serious business, but let the Seller feel you are in control!!!
- Remember it’s about the seller – take lots of photos and find out what made them buy in the first place!
D – THE DEATH OF MANY AN AGENT!!!
- After service. Send them a weekly report on stats in showing how well their property is doing on Private Property.
- Very Important! Don’t overpromise and under deliver!!!
- Weekly updates! Can be written in a mail.
VERY IMPORTANT! IF YOU WERE THE SELLER WOULD YOU AWARD “YOU” THE AGENT THE MANDATE??
In conclusion: Exposure on Private Property Website + Sole Mandate (Ensure high Ranking) = Sales Success
If you would like to hear more about this success recipe please contact your Account Manager.
You can access school information as well as other amenities in the surrounding area of a property you are viewing on our website. Next to the street address, click on the link that says “VIEW MAP” which will give you a screen like the one below with the map on the left and a list of amenities on the right. Click on the relevant tab, eg. Education, to see schools in the area.