The year ahead is poised to be replete with challenges and opportunities, from upcoming elections to the possibilities of interest rate cuts, uncertainty around energy supplies, and countless upside risks to inflation.
With this in mind, the real estate industry is still choosing to err on the side of cautious optimism for the year to follow.
According to a recent survey released by Lightstone Property, 73% of real estate agents surveyed felt they would hit sales volume targets in 2024, and 72% believed they would hit their value targets, too.
Adrian Goslett, the regional director and CEO of RE/MAX of Southern Africa, said this might not be an unrealistic sentiment, especially not for those who are part of the RE/MAX SA network.
“I was pleasantly surprised when I saw that, despite interest rates remaining as high as they are, we had closed over R3 billion in sales for February 2024. Our year has been off to a great start, so I am cautiously optimistic to see what our results will be as the year progresses.
“Looking back on the year, I was impressed with how well the RE/MAX SA network performed in 2023.
“After reviewing our network, which includes over 3 250 agents, we discovered that a RE/MAX agent would have sold at least eight homes in 2023. “When we look at the average units sold per agent for just our top 10 agents, this number jumps to 101 homes.
“For our top 200 agents, the average units sold per agent would have been 34, which equates to nearly three homes sold per agent per month in a market hampered by high interest rates and a slew of geopolitical challenges,” he notes.
Goslett said the fact that so many property sales continued despite these challenges demonstrates that the South African real estate market is strong and resilient and that investors can rely on it.
“Not only that, but it demonstrates that ambitious sales targets can be met with the right attitude and the support of a reputable brand,” says Goslett.
“My final advice to real estate agents in the year ahead is to break down their sales targets into a list of everyday actions that will help them achieve their goals.
“Big goals are often accomplished by taking small steps every day. Consistent, measurable actions like making 10 cold calls daily or doing a flyer drop weekly will all accumulate over time to deliver some big results,” said Goslett.
For those ready to take their real estate career to the next level, contact your nearest RE/MAX Office by visiting www.remax.co.za
