Holiday Homes Portal News

Fractional Ownership division for Remax

Date: 28/09/2009
Article source: www.fractionalownership.co.za

Botha to spearhead groundbreaking RE/MAX division

In what is a first for the world’s largest property franchise group, RE/MAX Independent has launched a division entirely devoted to fractional ownership. Headed by Jean Botha, the division’s inception follows on the back of the concept of fractional ownership taking the world by storm.

Botha is no stranger to the RE/MAX brand: eight years back, he became the first franchise holder of RE/MAX Bay in Port Elizabeth, followed by RE/MAX Algoa shortly thereafter. After selling these franchises, Botha spent the past two years  specialising  in marketing fractional ownership properties for the Kat Leisure Group’s flagship “Destination Golf” developments, which included the Simola Country Golf Estate and Katberg Eco golf estate.

In August this year, Botha was invited as a speaker to the Annual Fractional Ownership Conference held in Cape Town as a direct result of the vast knowledge he has gained in this particular field of property investment.

According to Kobie Potgieter, RE/MAX Independent and Walmer Franchise Owner, increasing demand for fractional ownership resulted in the decision to appoint Botha.

“We identified the need amongst investors to deal with an expert in the field of fractional ownership and Botha not only has extensive experience in real estate, but nationally he is one of the most knowledgeable consultants in this type of ownership,” she says.

According to Botha, investors are increasingly warming up to the concept of purchasing a share of a luxury property as affordability has curbed consumer spending greatly. He explains:

“Fractional Ownership allows buyers to continue, despite tough economic times, to buy into a Five Star residence which gives them exclusive use of the property on a rotating or fixed basis for a number of weeks per year.  The advantage is multi-folded:  firstly, it places luxury properties within reach of a broader spectrum buyers, the property never stands empty as different owners use it throughout the year and owners are also allowed to rent out their allocated time if they do not use it themselves.”

Another advantage, says Botha, is that owners share the running costs such as maintenance and rates and taxes. “To top it all, owners receive the benefit of capital growth in the value of their share of the property.”

He warns that potential buyers should not confuse fractional ownership with timeshare. With time-share, he says, buyers purchase a vacation: with fractional ownership, buyers own a share of a  property itself.

As for his appointment at RE/MAX Independent, Botha says it is a privilege to be back in the RE/MAX family.

Botha, said that it will be the first time in the history of Remax International and National that a fractional ownership forms a division under the auspices of the Remax Office, “ This is only the beginning, I anticipate that we will open the first Remax Fractional Franchise Office in the near future, which will be a first for the South African Region.”

We are launching a fractional ownership website in due course, and also joining the fractional ownership web site.