THE DIFFERENCE BETWEEN SOLE AND OPEN MANDATES

In real estate, we know that too many cooks spoil the broth. If you’re a first-time seller, the terms ‘sole mandate’ and ‘open mandate’ have most likely come up in the early stages of the home selling journey and may have caused some uncertainty. For those who are struggling to decide what’s best for them, below are the differences between sole versus open mandates:

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TIPS TO HELP SELLERS GET A HIGHER PRICE

Selling a property for full price or close to asking price can be challenging, especially in a market where supply outweighs demand. Everybody is looking for a bargain which means that sellers are going to have to convince buyers that their home is well worth its asking price.

These days, buyers are very well informed. Thanks to internet access and property portals, buyers have access to all sorts of information that they can use against sellers in order to lower the asking price. To negotiate towards achieving your full asking price, you need to be as well researched as buyers are so that you can convince the buyer that your property is indeed worth the full asking price in comparison to what else is available.

Below are some further tips for sellers who want to sell at full value:

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LOVE CAN GUIDE YOU HOME

If you’ve finally decided to buy property, you shouldn’t settle for a house you can’t call home. On average, it takes a minimum of approximately five years to see real returns on real estate investments.

Given that you will likely stay in the home for quite some time, you really cannot afford to settle for a house you don’t love. 

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How to Stay Productive While Working from Home

06 July 2020

Many of us have been forced to work from home due to current circumstances, and it may even become the new norm. Here are some essential tips to ensure to ensure a productive workday…

Working from home can be quite challenging – especially if you are sharing the space with other family members and pets.

SET UP A SECLUDED SPACE

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Ensuring a safe move during a pandemic

01 June 2020

If you need to move in the near future, you should start planning so that you can ensure the safety of you and your family during the whole process.

Firstly, make sure you are allowed to move under the lockdown regulations and specific lockdown level at the time of your move (lockdown levels may also differ from one region to another)

Here are some tips for making your move as safe and stress-free as possible:

IF YOU’RE MOVING BY YOURSELF:

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Covid 19 and the real estate market – what happens now?

27 April 2020

The Covid19 pandemic and the various measures to try to contain it, have impacted every one of us in various ways – and our real estate industry is no different. We are almost at the end of a strict 5 week lockdown period, and government has announced a phased approach to easing the lockdown in stages and at various levels (level 1 to 5), with an easing of restrictions from level 5 to level 4 as from the 1st of May 2020.

HOW WILL PROPERTY PRICES BE AFFECTED?

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How to protect your home from germs

03 April 2020

Now, more than ever, we need to make sure that our homes truly are our ‘safe place’. During the Coronavirus pandemic, keeping our homes clean and germ-free is at the forefront of our minds.

We must take every possible precaution to reduce the spread of the virus. Apart from washing our hands as often as possible, we must also regularly clean all surfaces we touch.

Here are a few essential tips to protect your home and your family from germs during this time.

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How to cut back on expenses during tough times

02 April 2020

Many of us might find ourselves in some financial difficulty during this lockdown and the months to come.

Money

There are some things we can live without, if necessary, until we find ourselves in a more favourable financial position. Here are some suggestions to consider to lower monthly household expenses over this lockdown period:

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How to help Pets adjust to a new home

PetsPicture how anxious you might feel if, without warning or explanation, you were taken to an unknown destination where you discovered all of your belongings unpacked into this unfamiliar space. The anxiety builds as evening draws near and nobody shows any signs of returning you home. This is exactly how your pet feels when you relocate. But, there are a few necessary precautions you can take to help them adjust to the new space.

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House rules for keeping Pets in SA

PetsThe amount of views a cat video on Youtube racks up helps us realise how much we love our animals. But, as much as we might love them, there are certain laws by which we need to abide if they want to avoid running into trouble with the authorities. The Animal Protection Act of 1962 sets out regulations for all South African pet owners. Those who choose not to follow these rules will receive a penalty fine of up to R4,000 and can even face imprisonment for a period of twelve months depending on the severity of the action.

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Interest rates remain unchanged

The Monetary Policy Committee announced today (25 May 2017) at its third meeting of the year that the interest rates would remain unchanged once again. This means that the repo rate will stay at 7%, and the prime lending rate remains stable at 10.5%. The rates have stayed at their current figures for well over a year now, having been raised in March last year. Reserve Bank Governor, Lesetja Kganyago, said earlier in the year that the key to keeping interest rates low is to bring inflation down. For the first time since August last year, inflation fell within the target rate of between 3% and 6% last month. The consumer price index (CPI) eased to 5.3% in April, down from the 6.1% in seen March.

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Junk status and the property market

Junk Status04 April 2017: The rating agency, Standard and Poor has downgraded South Africa to sub-investment. It is expected that this will have a negative impact on the housing market and consumers as a whole. “We managed to avoid a downgrade last year but were not as lucky this time around. While Standard & Poor is only one of the rating agencies at this stage, it is likely that Moody’s and Fitch will follow suit and take the same view as S&P,” says Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa.

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