ZB FINANCIAL Holdings Limited (ZBFH) is seeking partnerships with real estate agents to push up the uptake of its cluster houses in Hatfield, an executive has said.
BY FIDELITY MHLANGA
The houses can be bought under a 25-year mortgage bond.
ZBFH group corporate services head, Shadowsight Chiganze, said if the group secures partnerships in selling the five houses in Hatfield, it would replicate the model on its other properties.
“We are saying, can we partner together by disseminating the information to those you interact with on a daily basis. We can go and sign up for the commission. Here is an open invitation. Come and let’s talk,” Chiganze said.
Real Estate agents in Zimbabwe require 5% commission for their services.
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According to the Estate Agents Council, which is the licensing authority that also plays a supervisory role for practicing real estate practitioners, there were 234 registered firms as of December 31, 2014.
Harare has the largest number of registered firms, consisting 85% of the total.
In August, ZBFH told an analyst briefing that it has spent $5 million in developing housing units in Beitbridge, Hatfield and Ruwa.
Chiganze said the bank was on course to building 100 stands in Springvale Park, Ruwa.
While Springvale was developed in two phases and comprises of 800 residential stands ranging in sizes from 300 to 2000 square metres, 700 stands were sold as houses.
The Beitbridge project, which has been on hold, would also kick-start resulting in the development of 150 residential stands.
Hatfield housing units range between $122 000 to $135 000 accessible through a 25% deposit with the balance payable over a 25-year period.
The bank has structured mortgage financing for home improvement payable for a 10-year period.