Boardrooms and conferences across South Africa are buzzing with words like AI, Big Data, and the Fourth Industrial Revolution – but what impact will they have on commercial property?

With AI promising to revolutionise the way business is done – and threatening to make many jobs obsolete – there has been some speculation that Commercial Property and Residential Agents could become a thing of the past.

Here are some reasons why we think that won’t happen anytime soon.

Digital property portfolios are convenient – but they can’t give personalised advice

Today, prospective buyers and sellers can browse available properties in a given area online, from the comfort of their homes or offices. While technology is a good tool for showcasing properties, there are specialised tasks that it simply can’t do.

In reality, agents do a lot more than present clients with a portfolio of properties.

Browsing properties online certainly saves clients time and hassle, but once they decide on a property, the process of viewing, making an offer and negotiating with the owner must begin.

Throughout this complex process, which has major financial implications, there is no substitute for a trusted, experienced advisor.

“If you think dealing with a professional is expensive, wait till you deal with an amateur.”

Putting willing buyers and sellers together through a digital platform sounds like the perfect solution – until the financial and legal aspects of the transactions have to be dealt with.

These are just some of the myriad tasks that agents carry out:

  • Preparing a property for sale,
  • Ensuring that the offer to purchase is properly worded
  • Dealing with building safety inspections
  • Obtaining rates and taxes clearance certificates
  • Arranging transfer through a conveyancing attorney

While it may be possible for buyers and sellers to undertake these tasks, the time and hassle involved would be enormous.

It’s also likely that first-time buyers and sellers may not know the most efficient way to deal with all the steps in the sales process – and that could end up costing them financially.

Buying or selling property through an agent isn’t just simpler and easier. You’ll also have the peace of mind that comes with dealing with an experienced professional.

Want the best of both worlds? Find your ideal commercial property on our website.

You can view our portfolio of commercial properties in the greater Cape Town area right here on our website. For more information on any of the properties on our site, or to schedule a viewing, contact the Commercial Space team today.