I opened an estate agency

By Drum Digital
19 September 2010

Real estate is a competitive industry. In fact, it is often perceived as a ruthless playground for disreputable, commissionchasing agents. But Thabo Moalusi (34) was determined to change this perception when he started his own estate agency two years ago.

“Many estate agencies lack professionalism, especially those in townships. Clients often don’t get the service they deserve because the agents are out to make a quick buck,” says Thabo, who was once an estate agent himself. When he started, the NQF4 exam to qualify as an estate agent was a four-year course. These days the exam takes a year to complete – four months of theory and six months of practical work experience at an agency.

Thabo worked as an estate agent for 10 years but knew he didn’t want to work for someone else all his life. He knew he was destined to be the boss some day.

“I didn’t have the freedom to do my own thing or to be innovative and implement new ideas while I was working for someone else,” he says.

Thabo took the NQF5 principal exam to qualify to establish his own estate agency and started saving money to get going.

He researched the viability of opening a new estate agency and discovered a growing, and largely untapped, real estate market in Soweto. He used his savings to register Black Feather Properties in 2008.

“You don’t really need start-up capital because it’s not as if your stock has a shelflife,” Thabo says. He worked from home for the first year so that he didn’t have to spend money on renting office space.

“I learnt that overhead costs can cripple a new business, so I chose to invest in advertising. I printed flyers to advertise my properties and my business. The properties sold much faster and my business grew quickly,” he says.

Read the full article in DRUM of 16 September 2010

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