Quarterly Report - Back

We are into the last quarter of 2010 and the year is racing to its inevitable conclusion. I have had the privilege of recently attending the National Harcourt’s and Bond choice conference and it was certainly interesting to hear from major industry players as to how tough the year has been and yet the talk remains positive of an eventual YET SLOW recovery. It is also fascinating to her that traditional values of service and genuine client relationships are valuable going forward in these new and sometimes treacherous times.

In the property industry changes are rife and recent announcements by Bond choice and cutting back of home loan panels are making survival a challenge. Interest rate cuts have not really stimulated a revival of home purchasers and banks credit policies remain extremely cautious.

The industry is made more difficult as a result of continued poor service levels and the effect of the word wide meltdown could have been somewhat negated had service providers like local authorities, deeds office and SARS been up to the task. One would think that where volumes of residential sales are lower that for many years it would be possible for the said providers to improve service to customers but this is not the case. In fact it is taking longer now to obtain clearances and transfer duty receipts and this with banks only offering loan to value of 80% (on average) this means that transfers and bonds are taking easily as long as ding the “perfect times” of a few years ago.

As a Firm we are poised to make an impact in the last quarter and early 2011 with increased levels of communication and a dedication to providing support and service which will distinguish us in our local community. We will remain conservative yet optimistic for the future and realise that the value in our offerings lies in the quality of service and the interpersonal relationships which have been developed over the last couple of years.

Another interest rate cut is expected at the end of the month and perhaps the break over the festive period will give leaders in the industry a chance to refocus and drive the industry back to a positive turn. A great mariner was never found on quiet seas and our future will depend on how we do things now. Emerson said “What lies behind us and what lies before us are the tiny matters compared to what lies within us”.

Recent Achievements

• The firm reaches 2 billion of value of Bond registrations in October 2010
• Firm forms an Association with N Du Toit Attorneys
• Staff Member – M Roberts has enrolled for a Paralegal Course at Intec College as a Special Project of the Firm
• Firm donated funds to Tristin Smit, a 4year old Cancer Patient
• Firm sponsored Bond Choice for its National Conference
• Recently upgraded office in Irene
  
• Achieved a Large refund from City of Tshwane for a client