Often the motivation of buyers for a sectional title purchase is to get in on the property ladder and the relative good value afforded by the purchase of a property is the defining reason for the purchase but this is rapidly changing. Team Sectional Title recently did a survey of those who bought a sectional title unit in the Southern Suburbs and False Bay areas through the Chas Everitt property group. A much wider range of motivations and reasons were offered than expected.
Respondents were asked to choose primary reasons and only 32% indicated that the primary motivation was affordability. Slightly more than this, at 36%, chose lifestyle reasons and 30% choosing security as the primary motivator with 2% being in the ‘other’ category. The most amusing answer which may or may not have been true was from an elderly gentleman who said, “my wife and I chose this apartment because my girlfriend lives in the same block!”
We had not conducted such a survey before so we do not have figures to compare against however we do plan to do another as we find that sectional title sales and marketing statistics as well as buying patterns are not readily available as most estate agents do not specialise in sectional title but sell the odd apartment here and there while their real focus is on houses. This is the prime reason for Chas Everitt establishing a specialist Sectional Title Team as the legal issue and marketing requirements are increasingly specific and specialised. Most general or ‘house’ agents are not keeping themselves as informed as they should do with the specific needs and legal issues surrounding sectional title and this can so easily lead to problems and even litigation. Sellers and buyers of sectional title are advised to question their agents about their sectional title experience and knowledge before using or choosing an estate agents services.
Article By: André de Villiers - Team Sectional Title
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