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Dales Bros Estate Agents offer a comprehensive range of specific property services to suit a broad range of needs. These services range from valuation and appraisal services, to the marketing and disposal by Public Auction of a wide spectrum of Real Estate including: Residential, Commercial and Industrial, Agricultural and Special Category properties, rentals and property management.
Auctions of properties are held at a central venue where professional presentation and high profile auctioning of properties take place. The use of electronic visuals of the property together with comprehensive marketing result in favourable knock-down prices and as a result, satisfied clients. On site auctions are held when it is deemed appropriate. |
In addition to our Sales department, we specialize in the letting, management and administration of Commercial and Industrial properties throughout KZN.
This division of Dales Bros is also founded on the core vision and values of the company - integrity, honesty, reliability and efficiency and a commitment to providing a first class service to all our clients big or small, corporate or private.
Dales Bros has been professionally and successfully auctioning property for decades and offers clients the following:
1) No seller’s commission.
2) Extensive experience in property auction processes and administration.
3) A proven track record in selling a broad range of
both residential and commercial property including high-end properties
by Auction.
4) An extensive support base for setting up and preparing properties for
Auction.
5) An interactive website for marketing properties through.
6) A comprehensive data base of buyers.
7) Peace of mind that you are dealing with one of South Africa’s most
established auction houses.
In keeping with overseas trends property auctions are fast becoming a popular way to market residential, commercial, industrial and agricultural property, with emphasis on the purchaser being accountable for the commission generated from any successful purchase transaction. As in the case of most auction options, your property enjoys widespread marketing support and exposure. The conventional estate agency method of sale is
on the other hand, considered limiting as agencies generally protect their interests from opposition estate agency outlets.
Listed below is a summary of how Dales Bros would typically market and auction a property, listing specific and important elements of theservice offered.
1) The seller is NOT charged a seller’s commission but rather charge the purchaser a buyers commission of 7% plus Vat.
2) Advertising costs for the running of the auction will be for your account. Such costs will be discussed and agreed prior to commencement of any marketing of a property. This is required in advance prior to the marketing programme commencing.
3) The property is sold “Voetstoets” and is not sold subject to any suspensive conditions i.e. somebody buying your property but only once they have sold their property, or had their finance approved.
4) A reserve price will normally be settled on prior to the Auction taking place, and you will enjoy a seven (7) day confirmation period after the auction, to consider any offers submitted on auction.
5) The entire process from date of instruction to the expiry of the confirmation period should not take longer than 5 weeks, making this the simplest and most time efficient means of disposal.
6) All buyers at the auction must have their finance pre approved thereby cutting out the threat of potential time wasters or bogus buyers. A ten thousand rand (R10,000) bank guarantee is also required in order to qualify to bid. This deposit is forfeited in the event that the purchaser defaults in his payment obligations.
7) Finally, we will require a sole mandate from the date of instruction to 30 days after the auction. This covers us against any offers being submitted prior to Auction, and also gives us the opportunity to sell the property privately after the Auction if the auction price is not accepted for any reason.
An alternative to the above is to include your property on one of our Dales Bros whereby we advertise and auction 10-15 properties in one sitting/session.
The Auction is conducted by professional auctioneers and electronic visuals of each property are presented (PowerPoint). Cluster auctions are generally held at our Pinetown premises or at an alternative and suitable up-market venue. Each property included in any one Cluster Auction is put up for Auction consecutively (one after another).
Dales Bros require a sole mandate from date of instruction to 30 days after the Auction, with a seventy two (72) hour confirmation period allowing you to consider any offers submitted. Most importantly we will only pursue the property if we are at least 80% sure the property will sell.
The Cluster Auction option does not necessarily offer a “spot light” on your property, as it is advertised and marketed together with other properties simultaneously. This is opposed to the conventional method of marketing and auction where one property is sold. This Cluster Auction process does however offer the seller the benefit of securing a sale from buyers in a room full of potential investors or suchlike - looking at your property together with the other properties going on Auction. Broader exposure to a base of strong buyers is thus the benefit.
We would normally recommend that sellers follow the conventional method as a first option and should your budget not cater for this method, your next alternative can be to settle for the Cluster Auction method.
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