LOCKDOWN SPECIAL OFFER
Category SPECIAL OFFER - KPS
Keageoz Property Solutions also known as either KPS Centurion or KPS Garden Route has given consideration to the fact that COVID-19 will have a financial impact on South Africa's already challenged economy.
The South African Reserve Bank offered a welcome rate cut setting the prime rate at 8,75%, certainly a step in the right direction to stimulate the need for credit and entry to the housing market.
Talks of further rate cuts are welcomed - this would certainly be a valuable stimulus for Buyers to commit to the housing industry - if never before, it has now become possible to step foot in the housing market and set your investment strategy alight at very affordable interest rates.
Amidst the turmoil of a prominent Buyers market, we have decided though to propose a lower professional fee - this fee is generally paid by the Seller of a residential asset.
The market dictates fee structures in the range of 4,5% to 7,5% ex Vat and in some instances - the case of Auctioneers - even higher.
KPS have subsequently adopted a fee structure of only 2,5% for Sellers who sign up their assets during the lockdown period - latest sign-up to qualify for this fabulous fee - no later than 31 May 2020.
In order to qualify for the rate though, one would expect that some special conditions would apply.
These conditions are as follows;
- The fee structure for KPS Centurion (a VAT vendor) would be conducive to VAT at 15% as prescribed by Government therefore, the fee structure shall be 2,5% plus VAT.
- The fee structure for KPS Garden Route (not a VAT vendor) shall be an inclusive rate of 2,5% only.
- Only exclusive mandates shall qualify for the drastically discounted professional fee of 2,5%
- The promotional fee will not be applicable to land sales - land sales will be conducive to a professional fee of 5%
- A formal mandate accompanied by a Seller's Disclosure shall be required to give effect to the mandate.
- The terms agreed upon for current mandates in our portfolio shall remain valid as agreed. Discretionary adjustments shall be considered.
- In the event of mandates in our portfolio being classified as "Open" mandates, such clients would have the option to convert these mandates to Exclusive mandates within the promotion period and will also qualify for the reduced Professional Fee.
- Sale transactions in progress will not be subjected to the lower professional fee given the fact that these terms had already been concluded prior to the issue hereof.
- Formalities that could not be properly attended to during the Lockdown period as a result of restricted movement and social distancing guidelines, shall be attended to immediately when possible to ensure the highest possible standard of presenting your asset to the market.
- The lower fee shall not apply to management assets. Landlords wishing to make use of our services for the management of their assets can contact us for discussion on discounted management rates.
We are cognizant of the fact that there will be logistical challenges given the "lock down" currently being enforced yet these can and will be addressed in conversation with the ambassador you choose to represent your real estate interests.
Price counselling can be addressed to some extent provided information relevant is supplied. Cognizance should be given of the fact though that a site assessment would generally be necessary to conduct a valid assessment of the asset value yet some asset classes and prices relevant can be determined based on the experience of the ambassadors selected.
Cognizance should also be taken of the exposure that will be achieved;
- Where available, 3D technology (also known as Matterport) shall also be included as a valued addition to the marketing of your property.
- Your asset will still be published to all the prominent advertising portals including Property24, Private Property, our own website and a number of smaller sites.
- The lower fee shall not affect the exposure you achieve as the drive behind the lower fee is to provide a positive financial impact to the parties involved whilst maintaining a high level of conduct.
Formalities relevant to documentary requirements as well as the composition of marketing materials (where applicable), that could not be attended to during the lockdown period, will be addressed as a high priority upon upliftment of the lockdown, to ensure that levels of corporate governance is adhered to.
At KPS we maintain high levels of productivity no matter what the real estate market dictates.
We sell property faster and achieve fantastic prices for our clients.
A highly affordable professional fee now offered by us makes it possible for a mutually beneficial property transaction to be concluded within a timeframe suitable to all.
An opportunity such as this do not come by very often - be sure to make use thereof.
You are welcome to either call our national number 0861 77 88 77 or call on any of the property ambassadors relevant to your area - details on our website.
May every individual, household, small and/or big business in South Africa venture out of this lockdown period positively and where applicable recover fully from the interim setbacks it may have caused.
Author: Johann Cronje - Principal
