I've been hearing rumblings that the major SA real estate agencies (Seeff, Pam Golding, Rawson et al) are going to launch a jointly owned auction house to try and get some stock off their books. Currently the majority of real estate auctions are done by Auction Alliance who have agreements with ABSA and FNB to get rid of properties off their books.
Anyone out there with any more info on a possible agency owned auction house?
7 comments:
From this article in BR:
Consequently, Alliance Group had started a programme new to South Africa in which estate agents could earn commission by bringing buyers to auctions.
"Real estate agents and auctioneers will combine forces to assist struggling home owners to sell their properties successfully," Levitt said.
Through the Broker Participation Programme, Alliance Group would allow all brokers and estate agents to introduce their buyers to properties which were being brought to the auction floor through the various residential property recovery programmes, Levitt said.
Looks like shit is finally starting to hit the fan full force.
Anonymous Coward
I read that a while ago as well, but this scheme would have the estate agencies owning the auction house and thereby earning fees from auctioneers commission instead of giving it to Auction Alliance
Be careful what you write on this blog as you might find Noseweek printing your comment. The Editor of this blog has no conscious and makes your comments and contributions by email available to all and sundry to print without having the decency to ask you first.
He seems fairly conscious to me
Shuddup CJ, you peasant. Its people like you who give poor people a bad rap. I hope they amend the election laws so only people who own property can vote thereby shutting out dumbasses like you from having a say in the running of this country.
I think they should amend the election laws so that only those who can spell are allowed to vote - keep out all those who are not very conscious in the grey matter arena.
And I don't have a conscience saying this ...
@ CJ
Since you dont invest in property, what do you invest in with all that money you save from renting?
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