RealNet reopens in Rustenburg
11 March 2010, 02:08:25 PM
The RealNet estate agency group has reopened in Rustenburg, with a new franchise
having been awarded to local real estate stalwart Reinette Lummis.
Her agency, which has been operating since 2005, will now trade as RealNet
Lummis Properties.
Lummis, who has an excellent reputation in the Rustenburg market, says she
relishes the opportunity to now expand her operation under the RealNet brand.
“RealNet is one of the country’s most respected real estate brands
and offers superb backup and systems that enable franchisees to offer their
clients exceptional service.”
She adds that her success is based on dedication to her clients, honesty at
all times and hard work. “Our motto is to walk the extra mile with our
clients and we will uphold this tradition as part of the RealNet group.
“The recession has forced many agents and agencies out of the local market
and only the most professional now remain. We are confident that we will be
able to offer an even better service as part of an acclaimed national real estate
group.”
Lummis reports that the Rustenburg market started showing signs of increased
activity in December. “Buyers are taking advantage of low interest rates
and although some buyers are still encountering problems with obtaining bank
finance, there are encouraging signs that banks are starting to relax their
lending criteria. It is particularly encouraging that first-time buyers are
obtaining 100% bonds.”
Local prices start at around the R450 000 mark for small apartments popular
among first-timers and people who are downscaling. The biggest demand, however,
is for three-bedroom family homes priced at between R800 000 and R1m, while
there is reasonable interest up to the R1,5m mark.
International buyers are also active in the market and are targeting luxury
properties, notably in upmarket complexes such as RockCliff, where prices range
from R2,8m to R6,5m.
Lummis says stock levels are high, boosted by units brought to market by owners
under financial pressure. “It creates good buying opportunities and cash
investors are currently active,” she adds.