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18 March 2021 00:00
This week: Radical digital conveyancing initiative launched by Land Registry; How the franchise model could hold value in economically turbulent times; and Is sustainability finally becoming more mainstream?
Radical digital conveyancing initiative launched by Land Registry
UK - The Negotiator
A new government initiative to encourage conveyancing firms to use services that confirm to a new digital standard when verifying a vendor’s identity has been launched by HM Land Registry.
Its ground-breaking Digital Identity Standard, which is optional but is being heavily plugged by civil servants, has been created following extensive property industry consultations including with key estate agency representatives.
The Digital Identity Standard establishes for the first time the step-by-step rules for identity verification and will enable it be done without the need to meet physically, for all clients whether residential or commercial.
It also provides enhanced security by requiring the use of smartphones to extract encrypted information contained within the chips of documents such as passports.
How the franchise model could hold value in economically turbulent times
South Africa - PropertyWheel
When asked to name some of the most iconic South African businesses, the first that come to mind are the likes of Pick n Pay, Shoprite Holdings, Dischem, Spur, Sorbet and Nandos – all of which are franchises.
This common trait is no coincidence says Grant Smee, property entrepreneur and owner of Only Realty. “Franchises have long been a successful outlier in South Africa’s turbulent economic landscape”.
This success could be attributed to the value of the franchise model’s ‘strength in numbers’ and the ability of franchise owners to tap into a wealth of brand resources that entrepreneurs, who start independent businesses, do not have access to.
While many of the successful franchises, particularly in the restaurant industry, have taken a knock due to the economic wreckage of Covid-19, the franchise sector has proven itself capable in challenging circumstances before.
Is sustainability finally becoming more mainstream?
South Africa - Pam Golding
As the world grapples with the uncertainty surrounding the long-term implications of Covid-19, there is a measure of agreement on one thing – the global pandemic has fast-tracked numerous trends which were already emerging prior to the crisis.
Says Anthony Stroebel, head of New Business Development for Pam Golding Properties and a director of the Green Building Council South Africa: “Remote working, co-living, dark kitchens and online retail are just some of the trends identified during the pre-Covid years. Several of these have now been more widely adopted, as companies worldwide scramble to adjust and survive in the post-Covid environment.
“While the business sector is likely to change many of the ways in which it operates in the new post-Covid world, households are also likely to reconsider how they live – both in terms of the homes they live – and now work – in, and their consumption patterns.