Real estate deal of the Century
|
WHILE scores of real estate franchises close up shop as a slump in the property market takes its toll, one of the world’s largest property groups is offering locals an opportunity to win a free business.
According to recent reports, South Africa’s multi-billion rand property market has lost 55000 registered estate agents and dozens of small agencies have been bought out by larger firms since mid-2006.
Of the 90000 estate agents in boom times, only 35000 remain.
Andrew Golding, chief executive of Pam Golding Estates, recently told a business publication that as far as consolidation is concerned, small agencies do not have the capacity or infrastructure to survive in the challenging market environment, and thus either drop out of the market or are taken over by a larger agencies .
But yesterday, Century 21 managing director Colleen Gray said: “Difficult market conditions call for innovative solutions and we believe the competition will make a difference in the industry.”
With more than 8500 offices and 150000 agents in more than 67 countries, the Century 21 franchise rights for South Africa were acquired by Duncan Gray in 2006.
Now it boasts offices from Cape Town to Polokwane.
Gray said his current roll-out plans include opening about 200 offices by 2014.
