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Appointing the Right Estate Agent
“You only value the role of the estate agent when you don’t have one.”
The role of the estate agent is grossly underestimated. This is evident when sellers and buyers enter into private sale agreements and important aspects of a sale were not properly negotiated or cleared up with the conclusion of the agreement.
In most instances the conveyancer only receives the sale agreement after all parties have accepted and signed the agreement, and thereby not being able to assist with certain legalities that may be lacking.
Estate agents are professionally trained, educated and regulated by the Property Practitioners Regulatory Authority (“PPRA”) and may only operate as such with the required Fidelity Fund Certificate which is issued by the PPRA if the agent complies with all the requirements. Clients can view the status of a Property Practitioner on the PPRA public domain: https://theppra.org.za/
Some points to keep in mind when considering the services of estate agents
- Agents are able to give an accurate market assessment of a property and thereby advising on what sellers can expect from a current market. They have up to date market insights which can prove valuable when sellers determine a sales price.
- Agents are trained and experienced on property conditions and can guide sellers on possible improvements which can increase market interest.
- Agents have resources to reach a greater buyer audience with various marketing platforms.
- Agents screen and filter serious buyers and avoid unnecessary traffic through your home.
- Agents are frequently trained and updated on various legislative requirements, including the respective by-laws of the different local and provincial authorities, requirements in terms of Certificates of Compliance, as well as other laws such as FICA, POPIA etc.
- And perhaps most importantly is the duty of the agent to negotiate between both parties to reach the best possible outcome for seller and buyer alike.
As with conveyancers, estate agents also aim to reconcile the goals of all parties and are experts in structuring transactions so that all parties are satisfied with the outcome.
However, if you do insist on not making use of the services of an estate agent, the conveyancer would be happy to assist with the drafting of the sale agreement to ensure that all parties agree to the terms of the sale and that the transfer can proceed as smoothly as possible.
Bronwyn Scholtz
Attorney, Conveyancer & Notary (LPC No. 97847)
Professional Property Practitioner: NQF5 (PPRA No. 0486102)
Provided by Van Zyl Kruger
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