Tel: +27 (0)11 955 9100
Newsletter - 26 July 2004
Word from the editor

Dear Reader,

Dealing with estate agents can be an intimidating experience for the first-time buyer not only in South Africa but anywhere in the world. I found a very interesting article on BBC News Online that offers a brief guide to what home buyers have in England, Wales and Northern Ireland. Are your prepared to compare your Agency to this brief?

Will the following notes sell the property?

Block buster bargain!! Never to be repeated again!! A statuesque and dramatic designer signature mansion - architecture as timeless as tomorrow - measuring ± 1700 sqm under roof and nestling on an established prime Atholl acre... A majestic double volume entrance gallery gives access to the baronial sized reception areas which all lead to the impressive outdoor entertainment areas and designer pool. A grand staircase leads upstairs to the 4 deluxe bedrooms all en suite including the ultra luxurious main suite with private lounge and dressing room leading to private terrace. Truly a dream come true … Incredible architecture and design create an unbelievable flow with extraordinary space ... special features include home theatre, squash court, gym and superb entertainment facilities too numerous to mention ...

Congratulations to Lorraine of Wendy Machanik Properties!
Remember, notes are unlimited! Photos are unlimited on!

Do you know of any person or company who would benefit from our CyberAgent services? Referral commissions will be paid. Email

Lastly, do you know that CyberAgent makes provision for virtual tours?
Should you need more information email: support at

Have a great August 2004!

The editor

New features on Property websites:

1. Automatic bond calculation
2. When viewing a property, one can now click on the city and the suburb to view properties in that area.
Selling Price
Estimated monthly payment: R 14,397 per month
Assumptions : Change
Loan term : 20 yrs
Interest rate : 11.50 %
Minimum Gross Monthly Income : R 47,990
Property No 000000072
Province Western Cape
City Knysna
Suburb Fishers Haven
Bedrooms 4.00
Bathrooms 3.00
View Yes
Garages 2.00
3. On the province search it is now possible to display all the properties in a province or city.
Training/info sessions

Our next info/training session for the Gauteng is on it's way!

Date: 3 & 4 August 2004
Time: 09:00

New Horizons Training Centre
16 Republic Road cnr Main Street

Cost: R150 per person - including a meal and course material

Contact: or (011) 955 9100
All booking fees must be paid by Tuesday, 26 July 2004. Please fax proof of payment to 011 955 9110

Please take note that there are limited seats available!

Program - Detailed of the CyberAgent programme focusing on the 9 different modules

Estate agents laughing all the way to the bank!

The continuing property boom has estate agents laughing all the way to the bank. Although commissions earned by estate agents are not officially calculated, it is estimated that they earned about R4.8-billion last year as residential property prices rose by 19.8% on average.

Stan Pillay, chairman of the Institute of Estate Agents of SA, says there are about 36 000 registered estate agents. They earn, on average, 5% commission on all deals. The value of residential property sales ranges from R13-billion to R15-billion a month, or R156-billion to R180-billion a year. Conveyances and legal bodies charge about 10% of the value of a property, giving them between R15-billion and R18-billion a year in fees.

Click here to read more

Overseas Investors Bullish

British investors with overseas properties are bullish about the market's prospects and are gearing up for further purchases in the next twelve months...

A survey carried out by the Property Investor Show North, revealed that 95 per cent of overseas homeowners intend to buy more properties abroad, while 50 per cent are planning to buy within the next year.

Confidence in the overseas nest egg is buoyant thanks to the recent expansion of the EU, the strength of the pound, and the build up of equity from soaring UK house prices.

Almost one in five of those surveyed now own more than one overseas property with investment being the main motivation for the majority (46 per cent). Most investors expect the best returns to come from capital appreciation (32 per cent) rather than from rental income (14 per cent).

Where are they buying? The most popular locations for overseas properties remain Spain (33%), France (24%) and Florida (19%) but buyers are also piling into emerging markets: Eastern Europe and South Africa are both beginning to make their mark as new hotspots.

Location, Location, Relocation
Making money, however, is not the only reason for eyeing up an overseas homes. One third (36 per cent) of those surveyed bought their property as a holiday home and nine per cent have moved abroad in search of a better quality of life, better weather, and fewer taxes.

Unsurprisingly, three quarters of homebuyers (73 per cent) cite location as the most important factor when buying. Nearly two thirds (68 per cent) look for a property within an hour's drive of the airport. Access to shops (55 per cent), sports facilities (46 per cent) and the beach (36 per cent) are also top priorities.

On average, UK homebuyers spend £129,248 on their overseas properties, including renovation and decoration costs. 68 per cent learn the local lingo and 19 per cent promise to start conjugating Latvian verbs any day now. Apartments are the property of choice for 50 per cent.

Article by:

The voetstoots clause

Chairmans corner,

The "voetstoots" clause, a standard clause in almost every contract for the sale of property in South Africa, means that the property is purchased exactly as it is described in the title deed and with all attendant faults, whether patent (visible) or latent (concealed), in fact, "as is".

Patent defects are obvious or "in your face". For example, cracked tiles, broken windowpanes or a gaping hole in the roof. Latent defects are hidden, for instance, a leaking pool, the absence of required building plans for an alteration or addition to the property or a structural defect in a
newly-built property.

In essence, the voetstoots clause is an exemption clause which protects the seller. However, in the case of latent defects, the seller's protection is not absolute. A seller will not be protected by the clause if the purchaser can prove that the seller fraudulently failed to disclose a latent defect in the property known to the seller at the time of sale. In other words, the seller deliberately refrained from mentioning the defect of which he was conscious at the time of sale. The courts require clear and convincing evidence of the seller's fraud and all too often purchasers come unstuck due to a lack of evidence.

Whilst the voetstoots clause ensures that the seller delivers the property to the purchaser in exactly the same condition it was in at the time of sale, it can often be the origin of hardship for the purchaser in respect of a latent defect rearing its ugly head after the conclusion of the sales.

Article by: Property100

CyberAgent and SAPTG





A warm welcome to all new Agencies:

  • Prop 100 - M. van Rooyen
  • Homenet Stellenbosch
  • Property with Flair
  • Red Door Real Estates
  • Pulse Realty
  • Property 100 - Durbanville
  • The Young Estate Agents (Westrand)
  • Prop 100 - Nandas Properties
  • Prop 100 - Paradise Properties Prop 100 - Richtec Properties
  • Prop 100 - Valuables Properties
  • Prop 100 - Esquire Estates
  • Le Sue Properties - Pine Town
  • Prop 100 - Awesome Properties
  • Blue Chip Estates Bedfordview

We trust that by now you are well aware of what CyberAgent can do for you. If you need any assistance, please do not hesitate to contact Jaco at or phone us at: +27 (0)11 955-9100 or 086 112- 9237

Most Internet enquiries:


Company Requests
De Huizemark JHB 122
Wendy Machanik Properties 99
Sherlock Homes 56
Explore Properties 54
Kilokor Properties 53
Firzt 44
Realty Executives JHB South 44

Sunday Times

Company Requests
Wendy Machanik Properties 36
Realty Executives JHB South 28
Sherlock Homes 24
Property Executives 22

Property of the month/week

You can now display a property of the week or the month on your website. Should you wish to make use of this facility you can contact once it is set up, you can decide which property will be displayed, and you can change this as often as you like!

Alternatively - you can have a randomly selected property displaying on your home page - each time a visitor lands on your home page, a different property will be selected.

Advertising on

Yes you can now make use of this opportunity by advertising your PRIME properties on the homepage of Property of your choice would be displayed for a period of one week and only one property at a time. An opportunity not to be missed!

For more information contact:

SMS Appropriate Buyers

You can now sms the matching buyers for any property in your Property Manager - simply click on "Buyers" and a "Qualified Buyers" search form will appear that lists all the qualified buyers that you've got in CyberAgent. Click the SMS button to send all matching buyers an sms to let them know you've got a property that meet their needs!

How well do you know your CyberAgent programme?

Click here to view the CyberAgent System Flow Diagram

Q & A: Dealing with estate agents

Dealing with estate agents can be an intimidating experience for the first-time buyer. BBC News Online offers a brief guide to what rights homebuyers have in England, Wales and Northern Ireland.

What is gazumping, and why can I be gazumped?

If you put in an offer to buy a house which is accepted by the seller, but then the seller decides to go back on the agreement and accept a higher offer from a different bidder, then you have been gazumped.

Despite being a frustrating, and potentially expensive, experience the practice is perfectly legal in England, Wales and Northern Ireland.

Even when your offer has been accepted, the estate agent has a legal duty to pass on any other offers received unless specifically told not to by the seller.

In Scotland a sale is considered legally binding from the moment an offer is accepted.

I've been told the seller has received a higher offer. Should I believe that?

Badly handled offers are one of the top complaints at the estate agents' ombudsman.

People who try to increase the price of a property after accepting an offer can cause heartbreak for a buyer.

But even if it is questionable ethically, if you are the vendor and are offered an extra £20,000, then you are likely to accept.

But could a higher offer simply be a ruse to get you to part with more money? It can be difficult for the buyer to know.

According to the Office of Fair Trading (OFT), an agent must not invent a bid or claim to have a cash or first-time buyer unless this is true.

Nor can they state that they have a potential buyer unless this is true.

The OFT suggests people should demand to see evidence if they have suspicions.

This can be difficult in practice, though, particularly if you want to keep on good terms with the agent.

Is the Estate Agent obliged to pass on my offer?

When an offer is made for a property, the estate agent must pass it to the seller promptly and in writing, except those which the seller has told the estate agent not to be passed on, for example, all those below a certain price.

The estate agent does not have to give you details of other offers they have received.

Can I force the estate agent or seller to take the house off the market, or stop advertising, after I have had my offer accepted?

You can not force an estate agent or seller to take the property off the market, or stop advertising - just because you don't want to lose your "dream home".

The agent is working to get the best price for the seller, and is employed by him - not you.

However, some will offer to do so out of goodwill, or if you are seen as a good buyer, for example, because you are not in a chain.

Can an estate agent demand a deposit?

Yes, in England, Wales and Northern Ireland, but the estate agent should not hold a deposit or any other money unless they are covered by adequate insurance.

And all money must be held in a separate client bank or building society account or accounts, as set out in the Estate Agents (Accounts) Regulations.

Receipts for deposits must be provided.

Estate agents can be known for using rather "creative" language to describe properties. Is this allowed?

One of the most common gripes handled by the Ombudsman for Estate Agents are "inaccurate sales particulars".

While some artistic licence may be acceptable, it is an offence for an estate agent to make certain statements about a property which are false or misleading.

Can estate agents put for sale or sold signs outside empty homes?

This is generally seen as an "undesirable practice" by the authorities, and estate agents can be prosecuted.

Can the agent hit me with extra charges - and misleading contracts?

Estate agents must state either the exact amount you will be charged, or when this is not possible, provide details about how the costs will be worked out or give an estimate.

According to research by the Consumers' Association, contracts can be badly worded and misleading.

It warns people to watch out for terms, which could catch them out.

For example, if you opt for sole selling rights, and then find a buyer yourself, you will still have to pay the estate agent.

Another one to watch out for, if you are a seller, is a "ready, willing and able purchaser contract".

You will have to pay once a buyer, who is able to exchange unconditional contracts, is found.

This still applies if you withdraw your property before the sale is completed.

In this scenario, you may also be charged for the cost of 'For Sale' boards and advertising.

Can my estate agent discriminate against me, because I don't want its financial advice services?

No. Estate agents must treat all buyers "fairly", under the terms of the Estate Agents Act 1979.

So-called "preferential listing" is also not permitted.

This is when buyers are told they will be put on an open and fast-track priority or preferential service list if they take financial services, such as insurance or a mortgage, offered by the estate agent.

However, with limited sanctions in place, the Consumers' Association believes it can be very difficult for consumers to challenge these sorts of practices when they occur.

What about conflicts of interests an agent may have?

If you are selling or buying a property that your estate agent or his/her close associates wants to buy, you must be told promptly and in writing.

How to protect yourself - and complain if it all goes wrong?

The main problem for consumers is that estate agents are not required to sign up to a membership body - and the area is barely regulated.

An individual's right to reproach about their individual treatment depends on whether an estate agent is a member of a scheme.

The Royal Institution of Chartered Surveyors and the National Association of Estate Agents operate internal complaints procedures.

The Ombudsman for Estate Agents offers a complaints service for its member agencies.

But the current voluntary scheme covers only one third of agents.

The ombudsman can award compensation of up to £25,000 for breaches of its codes, although many awards are for much less.

The ombudsman publishes a list of members on its website.

Who else can I complain to?

If a buyer or seller believes that an agency has failed to meet its obligations they could complain to their local trading standards department.

The OFT can also issue warnings and banning orders if it has sufficient evidence of a breach, of law.

Further information:

The OFT has a free booklet, called "Using an estate agent", which is available from its website or by calling 0870 6060321.

The guidance covers England, Wales and Northern Ireland.

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