Can we determine true market value?

Nov 5, 2020 9:14:26 PM Share this:

Determining the true value of a property is one of the most crucial components of any transaction in the real estate industry. The entire valuation process comprises of various factors which ultimately lead to an accurate property valuation.

Is the true value of a property subjective?
Valuing real estate is a very particular process, due to the fact that each property possesses unique features, which are specific to that property; including location, erf size, floor plan and layout, as well as additional amenities. In addition, local knowledge and understanding of the market by the estate agent responsible for the valuation is paramount. An agent with an acute insight into their local market more accurately assess market value than that of an agent who does not understand the trends related to that region.

Unlike most commodities that are used quickly, the advantages of property are typically recognised over a certain amount of time. This also means that determining a property’s fair market value should take into account both economic and social trends, as well as legislative regulations and environmental factors which may affect the overall valuation; while general industry principles such as supply and demand will undoubtedly influence an individual property's value from a holistic perspective.

Although the valuation process is clinical by nature, homeowners will naturally have attached sentiments to their current property. A good real estate agent will also be able to keep this in mind to ensure that the final valuation is worth the homeowner’s while from a personal perspective.

In essence, a home is worth whatever a buyer is willing to pay and a seller is willing to accept. However, an experienced real estate specialist who works with both buyers and sellers in the current real estate market is not only able to access accurate data but also see two sides of the same coin. As a result, this insight allows them to decide best how to assess the true value of a property.

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Topics: Harcourts South Africa, Real Estate Agents, Market Value, Buying and Selling Property

How buyers can gain leverage in a seller’s market

Oct 12, 2020 10:17:54 PM Share this:

Many areas are experiencing a hot real estate market and have shifted to a seller’s market. This is despite the COVID-19 pandemic or perhaps because of it, as well as the subsequent record low-interest rates. While current conditions are prime for sellers, they can make the process more challenging for property buyers. Navigating a seller's market can seem daunting for prospective buyers, however, they can still position themselves for success and zero in on their ideal property. 


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Topics: Buying, Richard Gray, Real Estate Agents, Harcourts Real Estate, First time homeowner, COVID-19

Proptech industry propelled into action during COVID-19 pandemic

Oct 5, 2020 7:28:02 PM Share this:

The Proptech, or property technology industry, is experiencing a massive push by the coronavirus pandemic, with companies implementing and investigating technology-backed solutions to combat ongoing challenges. The proptech value chain as a whole has always depended on whether the country is equipped to transition into a more technologically-driven system, however, COVID-19 didn’t lend itself to choice.  


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Topics: Richard Gray, Real Estate Agents, Harcourts Real Estate, COVID-19, Proptech

Real Estate, a major industry offering constant working opportunities

Sep 25, 2020 7:31:03 PM Share this:

Real estate is a major industry and an everlasting commodity, offering vast sales opportunities. While change is a constant occurrence in the property market, and 2020 has brought its fair share, the industry itself will always remain relevant. For people considering a career in real estate, the future of the realm as a whole provides real promise. The sector continues to guarantee a ‘hereafter’, despite challenges due to the pandemic.


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Topics: Careers, Richard Gray, Harcourts South Africa, harcourts careers, Real Estate Agents

Port Elizabeth - investment opportunity due to pandemic-induced market

Sep 21, 2020 7:43:15 PM Share this:

Real estate in the Port Elizabeth region is a burgeoning market in unprecedented times. As a whole, the property industry has experienced many unforeseen changes due to the global COVID-19 pandemic, including a record-low interest rate. By far the most surprising development has been the dramatic switch to a seller’s market. With many people seeking refuge in quieter cities, as well as a growing desire for simpler lifestyles, investing in the PE property market could provide an ideal solution. 


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Topics: Richard Gray, Harcourts South Africa, Property Investment, COVID-19, Port Elizabeth, Harcourts Beachfront, Nikki Strooh

Blue Circle Diaries - Tim & Caron Upton

Sep 18, 2020 8:58:04 PM Share this:

BC DIARIES GRAPHIC - UPTONS
Tim & Caron Upton of Harcourts Dunn make an unstoppable team. Both agents are simply machines when it comes to getting the real estate sales formula right – marketing, communication, and putting in practice the Harcourts core values.


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Topics: Property, Harcourts Real Estate, Harcourts Dunn, Entrepeneur, Blue Circle Diaries, Team Upton

Residential rental market experiencing COVID-19 induced pressure

Sep 15, 2020 9:38:55 PM Share this:

South African Residential rental market is currently experiencing the effects of the COVID-19 economic situation. The latest PayProp Rental Index for Q2 2020 shows the first indications brought on by the pandemic and subsequent lockdown. With unfavourable effects on rental levels, growth and non-payments in the country, as well as widespread household financial pressure – the rental market is likely to follow this trend into the near future. 


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Topics: Richard Gray, Harcourts South Africa, Interest Rates, Rental Market, COVID-19

The importance of upskilling agents in an ever-evolving industry

Sep 7, 2020 4:30:23 PM Share this:

In an industry as competitive as real estate, it’s integral that estate agents continually work on developing their skills. A devotion to expanding their capabilities, as well as an evolving expertise equips agents to achieve results consistently.


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Topics: Harcourts South Africa, Real Estate Agents, COVID-19, Upskill, Digital Marketing