Tyson Properties Johannesburg is on an upward trajectory as the group's fastest growing region
Category Market News
Tyson Properties has set its sights on securing a significant share of Johannesburg's residential property market and chairperson and founder, Chris Tyson, says they are well on their way to achieving just that.
"We are already breaking records in rentals and sales in a difficult market - and we're well on our way to building a strong and sustainable company," he says.
All this has been achieved despite the extremely challenging economic climate within which the real estate sector finds itself.
Tyson points out that, during the toughest times, a sound and proactive approach to doing business can have a massively positive impact.
Tyson explains that he is implementing a solid and strategic plan for the region based on the 17 years' experience of building Tyson Properties from six agents to 420 agents during challenging economic periods which included the likes of the global financial crisis of 2007/2008.
Ordinarily, when economic growth is depressed, the residential property market comes under significant pressure. Add to this the consistent increases in the repo rate by the South African Reserve Bank (SARB) and you have the scenario reflected in the 2022 SARB New Mortgage Lending data for the second of 2022 that were released in September.
From a positive growth of +5.34% year-on-year in the 1st quarter of 2022, there was a -9.35% year-on-year decline in the value of new mortgage loans granted in the 2nd quarter.
For Tyson, this came as no surprise. A surge in demand for residential properties during the second half of 2021 had to settle as living costs rocketed and the SARB began to consistently hike interest rates from November last year. With a further interest rate increase expected before year end, ongoing global economic pressure on the back of a continuing Ukraine war plus the Eskom energy crisis at home, there is plenty of potential doom and gloom in the overall property market.
But not for Tyson Properties where the positive figures speak for themselves and reflect resilience.
The Tyson Properties group, which is active in Gauteng, KwaZulu-Natal and the Western and Eastern Cape, has clocked up 100% sales growth nationally over the past three years.
Growth in Johannesburg has also averaged 100% year on year.
Tyson, who is personally driving the revival of the group's Johannesburg operation after Covid, says that, as expected, the massive 100% growth in the region prior to the pandemic flat lined during this difficult period. But recovery has been swift.
"We are now on track to meet our targets to grow by 100% staff and 100% sales and rentals by June 2023. Whiles sales in Gauteng were virtually the same during the height of the pandemic, Tyson Properties registered a healthy increase during the previous financial year and the regional operation is already well on track to maintaining this upward trajectory during the 2022 financial year," he said.
The Tyson Properties rental team has seen 200% growth over the past 18 months. It now accounts for 30% of the area's income and is on track to the 50% target for June 2023. This is in line with its strategic plan to create bullet proof franchises that can grow even in the tough times.
Chis Tyson started the company in KwaZulu-Natal with six agents in 2005 and grew it to 420 nationally. He set up the Gauteng operation in 2016 with a view to building a national real estate agency.
Today, Tyson Properties Johannesburg has five offices - in Fourways, Bryanston, Midrand, Sandton and West Rand. Since March, it has added over 30 nagents and two new managing partners to its growing team.
"We're taking this market seriously. We are re-laying the foundation after Covid and positioning ourselves for growth. There's an energy in the team - and I am excited to be working on the ground as we build the region. We've relooked everything in Johannesburg and reworked platforms and ready to fast track growth. We have the structures, management and agents in place to achieve this," says Tyson.
To cement its presence in the Johannesburg market, Tyson Properties has moved into bigger offices in Fourways. This will become the group's 'hub' for Gauteng. According to Tyson, within the next 18 months, Fourways will have a full training centre for new offices and agents to ensure that the expertise and company culture flow through the entire region.
"We are also establishing satellite offices in the suburbs - we want to be part of the communities. We will continue to build on our growth in the North and West and, within the next three years, we'll move into the East," he adds.
This growth spurt will be backed by an aggressive marketing campaign that will cover all touch points - stretching from digital and print to outdoor, mall activations, PR, a 'win a car' competition and the launch of the Tyson Properties Showcase Magazine that allows clients to view all Johannesburg properties on show in a digital and interactive way. In November, they will also be releasing their new monthly Tyson Properties Tenant Magazine that will focus on properties, news and trends in the rental market.
Tyson's belief from the outset - that good business is built on the right people - also holds true for the revitalisation of Tyson Properties Johannesburg.
Together with Johannesburg partner, Murray Haywood, he has built a strong management team that has decades' worth of experience in the Johannesburg market - including managing partners Francois du Toit, Andre Potgieter and Ryan Davies.
"We are all like- minded business people who work hand in hand. During the pandemic, some agents did leave - but 97% have come back and other top agents have joined us. We have put in place field training for agents by senior and experienced managers. By investing in a strong marketing drive as well as in upskilling our team, we are maximising our potential in this region," Tyson concluded.
Nick Pearson, CEO of Tyson Properties, believes that this proactive approach set in Gauteng will influence the group's performance countrywide.
"Currently, Johannesburg is our fastest growing region in terms of agent count and having Chris Tyson there is making a significant difference in the region. Backed by a strong management structure, innovative marketing campaigns and on-going training, our agents are going to go from strength to strength.," he says.
He says that the group has done exceptionally well in recruiting both young, dynamic agents that are full of energy and charisma, as well as seasoned veterans that inject experience and credibility to the brand.
For more information, visit www.tysonprop.co.za
Author: Tyson Properties
