Increasingly, in today's highly competitive real estate market, today's discerning consumers are turning towards reputable, well-established organisations - and brands - with the sophisticated expertise and network capable of providing them with a comprehensive real estate service across all areas and price ranges, says Dr Andrew Golding, CE of the Pam Golding Property group.

"Given the buoyant trading conditions in recent years, a flood of new agencies has entered the marketplace, and it is fair comment that the bulk of these have not had the potential to deliver on the more professional and exacting needs of clients, particularly in today's rapidly evolving real estate market. This is further exacerbated by the fact that now that the market has slowed somewhat, and competition is fierce, there is even more pressure on sales and performance, while consumers still demand the same high levels of service," says Dr Golding.

Commenting on the fact that the Pam Golding Property group now has an extensive network of a total of 218 offices around Southern Africa and abroad, Dr Golding said this reflects the significant growth and market penetration the group has achieved, particularly in recent years. This figure includes the group's commercial operation and other companies within the group.

Now approaching its 30th year since inception (in 1976), the group has achieved exceptional growth, and in terms of the residential property market alone, has more than trebled sales turnover and doubled unit sales over the past four years. Over this same period, the group has increased its total number of offices - which includes those in South Africa and internationally - by around 45 percent.

"Of particular relevance are the inroads we are achieving in terms of the rapidly expanding emerging market - through our Empowerment Division, which has already successfully established five new black owned and managed franchise real estate offices. While another eight such offices are about to open in urban areas around the country during the course of this year (2005), we have identified approximately 22 territories in Southern Africa for new empowerment franchise offices, with the focus on metro Johannesburg and Cape Town, as well as areas in KwaZulu-Natal and the Eastern Cape," says Dr Golding.

The Empowerment Division provides new business opportunities for entrepreneurs from previously disadvantaged communities, which are being delivered to the emerging market through a turnkey franchise solution. This means that the new black economic empowerment owners - or franchisees - are provided with an interior and exterior building blue print with furniture, fixtures, fittings, signage as well as full office automation - all included. They also enjoy the support and service infrastructure of the PGP group.

"While we now have offices broadly spread across all regions of the country, the group has recently made significant inroads into the Central region (inland provinces), where it now has 38 offices in total, and the Karoo region, where the group now has 16 offices. "The Central region offers excellent growth potential both in terms of the emerging market and return on investment in property, as well as through increased market share. Our Karoo offices are already achieving good sales, further boosted by the fact that the marketplace nationally is showing keen interest in property in the Karoo in general, with good value to be achieved and sound growth potential for property investment. This is partly a reflection of an ongoing trend among buyers looking to escape from the hustle and bustle of city life to somewhat quieter country living," says Dr Golding.

He says in recent years the Eastern Cape, and the Garden Route in particular, has seen increasing interest in the property market - the latter further strengthened by international exposure through high profile golfing events such as the President's Cup, which have brought increased tourism to the region. "KwaZulu-Natal remains the stronghold of our franchise operation, contributing a significant share of turnover, and with 36 offices well located throughout the province. Property in this region has come into its own and is highly sought after among local and upcountry buyers. In general, coastal property continues to be sought after among most buyers," he adds.

Ends

Issued by Gaye de Villiers

Tel: 021 6837788 or 083 325 1939

On behalf of Pam Golding Properties