Bruce Swain, Managing Director of leading South Africa property group Leapfrog, shares his views on the property market in South Africa, discussing some of the highlights of his time within the challenging yet rewarding real estate industry.

Q. Please tell us what one thing you love and hate most about the property business?
A: I love the fact that we are assisting people to achieve something that almost everyone aspires to – owning their own home. The South African property industry is so dynamic and an extraordinary indicator of market conditions and sentiments - everyone has an opinion about the property business.

On the downside, I hate the fact that a few unscrupulous operators have managed to tarnish the image of our profession, when in fact the vast majority of agents are professional, hardworking people who go to great lengths to ensure happy buyers and sellers.

Q. Do you remember the first house you sold? If so, please tell us about it.
A: My first property in South Africa was sold in 1984 in Boksburg for the princely sum of R62, 000. It was a three bedroom, two bathroom house set on a quarter acre.

Q. What is the best piece of advice you were ever given?
A: Treat everyone with dignity and respect, deliver on what you say you will do and be on time.

Q. What advice would you give to estate agents about operating in the current market conditions?
A: Don’t dwell on external factors over which you have no control. Focus on building and staying in touch with your client base. Put in the hard yards and make sure you know what is happening in your market and ensure that you build your personal and company profile.

Q. What, in your opinion, is the biggest challenge currently facing the South African property market?
A: Without a doubt it is affordability of South African properties. The banks have relaxed their lending criteria recently, but the average buyer is still struggling to find the required deposit and funds for transfer and bond costs. We also appear to be reaching the bottom of the interest rate cycle and can probably expect increases in the first half of 2011.

Q. What are your views on transformation in the real estate business locally?
A: Transformation is starting to take place which is evidenced in the growing number of
previously disadvantaged agents operating in the South African properties industry compared with five years ago. However it is still taking too long and hopefully the impending initiatives by the Services Seta and EAAB will assist in speeding up the rate of transformation. The glaring shortcoming is the lack of ownership by PDIs in the industry, an issue that Leapfrog is addressing as a core focus.

Q. Where do you see South Africa’s property market in five years?
A: I see a stable property market which will be growing steadily, if not spectacularly. The challenge is for developers and government to meet the massive need for affordable housing.

Q. What, in your opinion, is the most vital business tool that estate agents should have at their disposal?
A: An up-to-date, accurate database of clients that they have dealt with and members of their community which they can regularly contact is an invaluable tool. Most agents have bits of client information stored all over the place – a single, consolidated database that is regularly updated and cleaned is a vital business tool for the South Africa property industry.