Institute of estate agents calls for more input to Propstats register

Propstats, the register of all residential property transactions in the Western Cape, now has about 12 000 entries, says Anton du Plessis, chairman of the Institute of Estate Agents' Cape Peninsula Committee.

"The Propstats register, as we predicted, has now become an indispensable tool for those who do property valuations.

"It has enabled Cape agents to price properties more accurately and to justify their decisions to clients. What is more, it is completely free to our institute members."

The register's great virtue, he says, is that it is supported by the major agencies as well as the smaller agencies, and therefore provides a good reference point.

But Du Plessis is now appealing to all Cape property agencies, whether or not they are members of the institute, to become members and submit all their sales figures so that the service can draw on even more comprehensive data.

He is also asking all agencies to submit their sales data back to January this year.

"From a valuations viewpoint," he says, "there is no point in going back further, even though such data is always interesting.

"The ability to compile trustworthy valuations will be one of the hallmarks of the more professional agents now being trained through the EAAB and SSETA training programmes," says Du Plessis.

Weekend Property supplement (Saturday Argus)

Posted at 10:33AM Sep 28, 2009 by Editor in Market  |