Guiding consumers since 2009

Agents putting up ‘closed’ signs

By Staff Writer

By Xolile Bhengu

Estate agencies are closing their doors as residential property sales plummet.

Wendy Machanik, managing director of Wendy Machanik Properties, said that estate agent numbers had dropped significantly this year, affected by the slump in the residential property market, with the number of buyers shrinking.

Machanik said that during the residential property boom a flood of new agents had entered the market to try to cash in, but the turn of the tide brought on by higher interest rates had caused some to pull out.

The Estate Agency Affairs Board recently reported that more than 30000 agents had not renewed their operating licenses.

“These are very tough times for estate agents across the board. Top agents are doing well, but they have to work four times harder than before,” Machanik said.

Recent Articles

Featured Calculate your vehicle finance instalments

You’ve dreamed of a set of wheels since you can remember, and now that you’re a responsible adult with a steady income, you’re ready to take on funding to make this dream a reality. But what kind of vehicle finance options are available to you? Justmoney gives you the rundown.

Check the interest before you take a loan

Justmoney takes a look at what influences the interest rate on a personal loan, the difference between secured and unsecured loans, and its impact on the interest rate.

One retirement, so many funds – pick the right one

Saving for retirement should be one of your priorities. However, it can be confusing to choose between a pension fund, provident fund, preservation fund, or a retirement annuity if you’re not familiar with them.

Which funeral cover lays your worries to rest?

A funeral can be as expensive as R50,000, depending on the type of funeral you want. That is why purchasing funeral cover is important. However, you don’t have to accept every offer that is put on the table. Shopping around can save you a large amount of money.

Deals

Wimpy Cheese Griller Brekkie Special

Price: R49.90
When: Until 9 September
Where: Nationwide

Mowana Spa Me Time Indulge Special

Price: R899
When: Until 31 August
Where: Fourways

Premier Hotels Weekend Getaway Special

Price: From R540
When: From 1 September
Where: Nationwide