Business Plan Assr Essay
Ekurhuleni area with a very component team of people looking after the assets of all our various lessors. Purpose, Mission and Vision My Vision is that there is only one name when thinking of rentals on the East Rand and that is ARK Property. My aspiration is an Estate Agency that services the Retail, Residential and Commercial markets. My intent is to bring corporate practices and processes into the business in order to be more efficient and deliver excellent services to our clients whether they are lessee, lessors or sales clients.
ARK’s mission is to exceed the expectations of our clients by providing service with speed and ccuracy. Market Research The buyer demographic of Kempton Park is getting progressively younger as more first-time buyers enter the market looking for affordable housing. This is supported by Lightstone data that shows property in the Kempton Park area appeals to younger buyers. Nearly 40% of the recent buyers were aged between 18 and 35 years old and more than 37% were from the 36 to 49 year old age bracket.
It is interesting to note that more than 38% of recent sellers were also from the 36 to 49 year old age bracket. The entry
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All indications are that there will be an increase in sales for freehold and sectional schemes. The rate of sellers per month for freestanding homes has increased from 7 to 10 per month comparing 2012 with the current data for 2013 , likewise, sectional chemes, the rate of sellers per month has increased from 6 to 8 . The reasons for the selling the property is as follows: * Job change * Persons going to a retirement village * Affordability more than 37% were from the 36 to 49 year old age bracket. The decision is on average made after 3 months from starting to look for a new home.
The seller behaviour depends on various factors; herewith a few relevant for Kempton Park: * Age of seller * Macro Economic Environment * House pricing * Political stability The seller do believe that the house prices is rising thus he can have a higher yield ; utperforming inflation; from a sale as oppose to last year when sales decreased due to marginal increase in house prices not beating inflation. The sellers pricing expectations are tempered from the stage he enters the market until the final sale price, his price set initially with subjective information at hand changes as market pressures start to have its impact, i. . average suburban house prices , rates and taxes , competing houses in the near vicinity ect. The sectional schemes offer real value for first time buyer; hence there is an increase in this market segment. The ricing eventually concluded between the seller and buyer from the initial price drives the value proposition. The banks have soften their stance on providing house loans to the residential market enabling more sellers to obtain house finance in recent times as opposed to 2010 to 2012.
Competitor Analysis There is quite a number of competitors in the farm area, the important ones are: * Remax Dazzle * Harcourts * Aida * Cl© Properties * Property. Co. Za * Grimark * Sherlock Homes All the competitors offer the following: * Residential Sales * Rentals * Market properties via printed material * Market properties via internet and website Market properties via street signage * Provide free property evaluation for purposes of sales * Pre Approval of potential buyers * Prepare offer to purchase between seller and buyer record * Liaise with a with banks to get bond with best interest rate * Liaise with transferring attorney.
The competitors target potential sellers with the aim to get a sole mandate to sell the house. Their marketing strategies range from new sellers to sellers with competing agencies. For new potential sellers, a street signage campaign will be launched followed up by pamphlets been dropped at every property in the farm area. For sellers with competing agencies the approach will depend where the seller is visible:Street signage, they will personally do a cold call on the owner at whose address the signage is. For RNS stock on the web, the competitors will wait for a trigger point before marketing the property. The trigger point will be two weeks before the competing agency’s mandate with the seller expires, they will then for two weeks entertain the owner’s attention with all their potential buyers and wait until the mandate with the competing agency expires (Two weeks) and then push to have a sole mandate. The buyers used to catch the attention of the seller are bogus in the majority of the cases.