Principal Agent at ReMax Property Group Jerry van der Merwe says the national lockdown has had drastic financial implications on the property sector which has remained grounded.
Real estate agents are currently not permitted to host show houses to sell properties. Van der Merwe has urged government to lift restrictions to enable them to resume operations.
“Most estate agents, are commission earners only, they are not contributing to UIF. They were not allowed to show clients properties, so they have had no income for the last 40 days. If an agent sells a property today, they have to wait 3 months for the commission. This will be 6 months after lockdown. For an estate agent to take someone to view the property, we can take the necessary precautions. It’s a one on one basis to take someone to view the property, it’s more harmful to wait in queues at the shops,” says Van der Merwe.
Property industry amid COVID-19
The coronavirus pandemic has interrupted plans for some to buy a new home, while others who didn’t expect to be in the market for a new home, are now moving because they’ve lost jobs or need to cut down on their budget.
The question remains: Is now the best time to buy a property? A look into the property industry with Zakhele Myeza:
Level 4 includes an easing of regulations around the movement of people and a slight opening-up of economic activity.