As per all industries locally and globally and across all categories, the year 2020 and specifically the effects of Covid-19 have presented the real estate sales industry with extraordinary challenges.
With the National lockdown, restriction on movement and the “stop start” of Deeds Office, the EAAB and Municipalities creating major hinderances for estate agents, buyers and sellers, the momentum of Century 21’s record breaking year which was entrenched and a certainty was curtailed at the end of April and leading into May. Impressively though, the Century 21 brand showed a decline of only 5,8% in Group Annual Sales and this on the previous year’s record breaking 24,48% increase for the same period.
This impressive performance seems to carry on into July and should continue for the rest of the year as activity levels in the property sales market are strong and further vindicated by the data from our preferred vendor, Ooba Bond Originators. This trend is really not surprising with interest rates being at 50-year lows and combined with a re-energized, re-focused and dedicated team representing our fabulous brand, Century 21. This favourable trend for our brand locally replicates the trend experience by our International Century 21 associates in critical countries including the USA and China.
Harry Nicolaides, the CEO of the brand in South Africa believes that whilst some competing brands in South Africa overreacted and made rash “spur of the moment” decisions during this Covid-19 period with sweeping pubic comments which included new terminology like “the new norm” and “remote offices” with “digital is everything” and where they actioned the closure of offices whilst effecting extensive retrenchments, Century 21 South Africa looked beyond all the “grey noise”, adhered to trends and advice from its International counterparts, kept a steady course and is now more relevant and desirable than ever before. He also believes that while there may naturally be some office closures within the group as would be expected in times like these and across all industries, the Century 21 Group as a whole has a more solid and steady foundation which will ensure its growth imminently and into the future.
The Century 21 Group is modelled around a Coalition of like-minded principals and estate agents with a relentless passion and dedication to not only further their own personal careers and that of the interests of the Century 21 Coalition but most importantly, to indeed help and assist any client with their property needs in a personal way.