Property 24/10 - 516

When is a 20% drop in the asking price of a property a reasonable offer?
The combination of record low interest rates, and a surge in buyers looking to buy new homes since the end of the hard lockdown, means the local property market is seeing record activity levels.

Buyer interest has skyrocketed
Leadhome’s data shows a whopping 46% increase in buyer activity since level 5 of lockdown ended, and 45% increase over the same period in 2019. Since the hard lockdown ended on 1 June, buyer interest has skyrocketed, averaging 90% buyer enquiries to marketed properties ratio, compared to a 62% average in 2019. Ooba reports that the average bank deposit requirement is down y/y to 8.1% (from 13.2%) as at June.

Rawson Property Group have seen record sales activity in June and July, following lockdown, with signs of a rebound "only just getting started”, says Tony Clarke, MD of the Rawson Property Group.

Striving for Success | What it means to real women in the industry
Women’s month presents the perfect opportunity to provide hope to those who can no longer visualise a better future for themselves. As South Africa celebrates all women, these women in the real estate industry look at what success means to them.

“It is often said that empowered women empower women, as they provide hope to others through their own success. At RE/MAX, women are a force to be reckoned with. In fact, 60% of our network are women. Women also account for roughly 61% of our top 500 commission earners. Last year, 8 of our Top 10 Individuals by Registered Commissions Nationally were women,” says Amanda Cuba, Director and COO of RE/MAX of Southern Africa.

POPI Compliance | Five effective steps your business can take right now
This five-step checklist should help you ensure compliance with the new Protection of Personal Information Act that is now in force.

The Protection of Personal Information Act, No. 4 of 2013 (POPI Act) is now in operation, effective since 1 July 2020, following a lengthy process which started in 2013. And it couldn't be more necessary for personal information to be protected as Covid-19 ramps up our digital connectedness more and more. While the act is now a legal obligation, penalties for non-compliance will only be enforced from July 2021. But this does not mean you should sit back and leave putting the essential processes in place until later.

If your business has not already ensured compliance, you may be wondering what your obligations are exactly?

Legal experts put it quite simply stating, “The Act requires that all personal information needs to be processed lawfully and in a reasonable manner. This means that you are not required to have iron-clad fool proof processes in place, but that you must be able to defend your actions if called upon to do so."

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