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CAPE TOWN SOUTHERN SUBURBS NOW MORE SOUGHT AFTER THAN EVER BEFORE
Vineyard Estates CEO signs up five sales in five days
Three weeks ago, Anton du Plessis, Chief Executive of Vineyard Estates, told colleagues that not since the market frenzy of 2004 had he experienced quite such keen interest and so much activity.
“In late January I had over 30 people at one new release showhouse,” he said, “and no less than 48 telephone calls in one day after advertising a new release.
This week du Plessis announced that this frenetic activity was no flash in the pan: he had personally finalised five sales totalling R27, 8 million in five days. What is more, he said, these had been within 5% of the asking price.
The properties sold, said du Plessis, were almost all in the sought after central Southern Suburbs belt which continues to attract the best and most reliable buyers from all over South Africa. The price range for those homes sold was from R3,4 to R8,5 million. This revived interest in upper bracket homes, he said, had been particularly encouraging.
“The sudden upswing in sales,” said du Plessis, “reflects the new confidence in the market and a throwing off of the negative perceptions of 2009. People, I think, are now buying to get in ahead of the 8% to 10% price rises that seem likely to occur before 2011.”
His own success, he said, can be attributed at least in part to observing the basic principles of good service and good office management, especially:
1. reporting back to clients regularly;
2. advertising prominently and in colour in the relevant media;
3. keeping office overheads down;
4. not being too greedy on the size of the commissions; and
5. selecting only realistically priced properties with serious sellers.
“A higher priced property can be sold possibly at a lower commission, especially if your overheads are low,” he said.
Although he had predicted the upswing this year, du Plessis said he had not expected it to come so soon or to be so vigorous.
“This bodes very well for the remainder of the year,” he said.