PROPERTY: New Innovation In Marketing
Recent Western Cape Business News
A new method of property transaction has been introduced to South Africa that could change the way property sales are conducted.
Yellow Hammer, an auction service provider to the real estate industry – providing the resources and skills to transact property via a new method called “Private Treaty Auctions” – has launched onto the market.
“Making use of a concept that is distinct from all other auction companies, Yellow Hammer makes use of the Private Treaty Auction which is a selling tool that combines the private treaty sales approach with a specialised auction method – making use of the efficiency, effectiveness and ease of the auction platform to conclude each sale,” explains Andrew Smith, Director of Yellow Hammer.
Smith, whose career in the property industry, starting as the Marketing and Regional Director for Pam Golding before later becoming Managing Director for Seeff Property Services and most recently owner and Managing Director of Cluttons SA, says that as a first of its kind in the country, Yellow Hammer use the real estate agent as the mainstay of the auction process to ensure continuity and custodianship of the property from the outset.
“Estate Agents are the qualified experts in their respective areas with the relevant knowledge and contacts to maximise the exposure of a property. We work with the estate agents every step of the way, never taking properties away from them, unlike other auction houses, but rather understanding that the agents are central to the process.”
“The integrity and control of the relationship with the seller will always be maintained by the agent who markets the property under their own brand. This way Real Estate Agents can maintain their client relationships whilst adding to their basket of services.”
In this way, agents can now earn more income faster and from a broader spectrum – by tapping into the most active market today – auctions. Yellow Hammer gives agents the secret to sales success in a much harder market and gives them the opportunity to compete over a larger scale.
“Although Yellow Hammer may be a ‘new kid on the block’ so to speak, says Smith, “we have merged with well-known auctioneers, Robin Mills and have gained access to three generations of invaluable skills and expertise as well as a national presence throughout South Africa.”
“Operating out of the same premises as Yellow Hammer, all Robin Mills auctions will now go under the Yellow Hammer banner and our auction team will be headed up by Robin Mills himself.”
Smith explains that further to their merger, Yellow Hammer are also excited to announce that RE/MAX of Southern Africa has signed up to the Yellow Hammer concept and have agreed to use Yellow Hammer as the exclusive and official auction service for the group.
“Through RE/MAX of Southern Africa we already have 1500 affiliated agents and over 200 offices countrywide, and discussions are in place to go international through RE/MAX.”
“RE/MAX believe that the South African property industry is changing and that the forward thinking Yellow Hammer concept addresses this shift, with auction sales becoming the recognised method of selling and not seen as a last resort,” says Peter Gilmour, Senior Vice President of International Franchise Sales and Brokerage for RE/MAX International.
“Yellow Hammer’s approach is extremely customer orientated which is in-line with the approach of RE/MAX to always focus on customer satisfaction. I believe that Yellow Hammer will become a valuable part of the real estate industry.”
On the financial side, Yellow Hammer special projects division makes use of the services and expertise of the CMC PROPERTY GROUP to offer a specialized service to Financial Institutions, Developers and the Commercial & Industrial markets in South Africa
“We are extremely excited to present the Yellow Hammer Auction Group, a collection of extremely proficient and experienced auction, real estate and financial professionals who have combined their talents to form a powerful and unique approach to the unusual business climate that currently dominates the world real estate landscape,” concludes Smith
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