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Independent estate agents manage 55% of the South African realty market. These agencies are run by people who know how to run their own independent business, are entrepreneurial achievers and are committed to providing their clients with high levels of service. After all, their very existence depends on it.
Being independent has many advantages for buyers and sellers alike. Unfortunately, there are disadvantages, such as competing against the larger nationals for listings as well as the higher costs that needs to be spent on IT infrastructure and marketing, these costs can be daunting for the smaller entrepreneur.
In 1998 John Smyth decided to level the playing fields and formed the Multinet Property Group. The idea was a simple one; approach independent estate agencies to join a national grouping, creating a single force while allowing them to retain their independent identities. In other words, to form a trading and referral partnership among independent estate agencies throughout South Africa. Providing them with free real estate software and marketing tools. In return, these agencies used MultiNET Group as the umbrella for submitting home loan applications directly to the banks via their own mobile consultant route. At its peak MultiNET consisted of more than 800 members.
In 2003, the banks dramatically reduced their direct strategy in favour of bond originators, this meant that MultiNET had no alternative but to focus on becoming a full blown originator, at that time MultiNET needed to use all its resources to set up and maintain its origination infrastructure, so the free value adds that were being provided had to be dropped. Originators at that time competed on commissions and not value adds.
It is now 2012 and the origination landscape has changed, no longer are high bond commissions the main drivers of originator business, each one now has to compete on service.
MultiNET has always been able to offer the level of service agents require but are now also able to offer significant value adds to the Independent real estate world.
The latest innovation from MultiNET which will enable all members to network effectively is our new Web Based Multi- Listing System, after years of development, the result is a cost effective, refined, user friendly package allowing for use by only two agencies in a specific area as well as large multi-listing groups. John Smyth says "We would like all estate agencies large and small nationally to Multi- List their properties on www.propertyplanet.co.za a web site specifically created for this purpose.
If you would like to find out more about our services and how we can assist you in building up your independent realty business give us a call on 0861 545 4444
We look forward to hearing from you.