Statis­tics make buy­ing and sell­ing a lot eas­ier

Weekend Argus (Saturday Edition) - - PROPERTY -

PROPS­TATS, the sta­tis­ti­cal data ser­vice set up by the West­ern Cape branch of the In­sti­tute of Es­tate Agents, has over the last year been up­graded so it pro­vides a re­ally use­ful free ser­vice to IEASA West­ern Cape mem­bers, says An­nette Evans, PropS­tats man­ager.

“Sales data for 1 500 es­tate agents in an area from Si­mon’s Town to Swellen­dam to Sal­danha are be­ing sub­mit­ted to PropS­tats. In ar­eas like the At­lantic seaboard, more than 90 per­cent of agents are con­tribut­ing.

“In cer­tain out­ly­ing ar­eas such as the Swart­land less than 50 per­cent con­trib­ute – but this does not al­ter the over­all ve­rac­ity of the data and the num­ber of par­tic­i­pants in­creases month by month.

“This in­for ma­tion comes through in real time – as soon as the sale has been con­firmed – which is well be­fore the ac­tual trans­fer takes place,” ex­plains Evans.

The 120 data sup­pli­ers, some work­ing for as many as 100 agents, says Evans, give PropS­tats in­for­ma­tion about the prop­erty’s ad­dress and erf num­ber, the listed price, the ac­tual sales price achieved, the area, the num­bers of rooms – to­gether with ad­di­tional fea­tures such as swim­ming pools, ser­vants’ ac­com­mo­da­tion and garages. The age and con­di­tion of the build­ings and the time the home was on the mar­ket are also pro­vided.

“This in­for­ma­tion,” says Evans, “helps agents to ac­cu­rately eval­u­ate other prop­er­ties in the ar­eas they serve. It also en­ables agents to jus­tify their val­u­a­tions to sell­ers and buy­ers. Us­ing th­ese in­di­vid­ual re­ports, they can show their as­sess­ments are mar­ket re­lated.”

Evans says IEASA West­ern Cape had lis­tened care­fully to its mem- bers so PropS­tats has evolved to pro­vide the most use­ful in­for­ma­tion.

“Now we in­tend to go a step fur­ther and give an in­formed anal­y­sis of the data which will pro­vide agents with a broad pic­ture of what is hap­pen­ing on the res­i­den­tial front of the West­ern Cape.”

Evans says the lat­est fig­ures in­di­cate that res­i­den­tial prop­erty started to re­cover in about Au­gust and gained mo­men­tum from early Septem­ber. This is shown by the de­creased list­ing days taken to sell homes and by the much-pub­li­cised de­fla­tion in prices now eas­ing off – with a rise in prices (the first in two years) prob­a­bly be­com­ing ev­i­dent from early 2010.

Also avail­able on the in­ter­net is IEASA’s own web­site www.ieasa for up-to-date in­for­ma­tion on the In­sti­tute of Es­tate Agents of the West­ern Cape and rel- evant in­for­ma­tion about changes.

To join the in­sti­tute or sign up to PropS­tats visit www.props­ The site pro­vides a mem­ber­ship ap­pli­ca­tion and a debit or­der form. The ser­vice costs R45 a month or R540 a year per mem­ber.

Al­though PropS­tats data is not avail­able to the gen­eral pub­lic, agents can pro­vide this data when do­ing val­u­a­tions on clients’ prop­er­ties. PropS­tats can also be ac­cessed on­line in a client’s home when agents are ad­vis­ing on prices or pre­sent­ing val­u­a­tions.

Be­sides the usual agent mem­bers of the in­sti­tute, val­uers, at­tor­neys and ac­coun­tants, bank­ing ex­ec­u­tives and other re­lated in­dus­tries can join as af­fil­i­ate mem­bers. Each mem­ber has a lo­gin code and pass­word en­abling them to ac­cess PropS­tats on­line any­where and call up the data at any time.

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