MBA & MM Theses

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2011 - 20142

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    Perceptions of the role of incentive schemes on prospecting behaviour in a South African Real Estate organisation
    (2014-02-19) Ferreira, Nelson Ramos
    The purpose of this research is to examine the perceptions of the role of incentives schemes on estate agents’ prospecting behaviour in a South African real estate agency. More specifically the research will investigate the extent that the scheme’s incentives influence estate agents’ prospecting performance, how the incentives work in the scheme and the benefits of the incentives to the strategic goals of the company The research problem is an investigation into what is the relationship between incentives and prospecting performance in a South African real estate organisation? The significance of this study is to research the link between incentives and prospecting performance behaviour The research was qualitative in nature and the method of data collection was semi-structured interviews The emergent research implications from the results suggest that overall there is a strong correlation between the uses of incentives and increase performance of prospecting activities Steady recovering of the South African housing market will see another extensive growth in the number of real estate agencies. As technologies change the way business communicates with their target markets, the possibilities and techniques used to prospect will always be evolving. Sales performance will always be a crucial factor, however what is important is the prospecting behavior that is linked to the sale.
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    The use of listed debt by real estate companies in South Africa.
    (2011-03-28) Chathley, Ajay Singh
    This research report aims to identify the factors which influence the decision for real estate companies, to utilise listed debt as a source of finance. The researcher conducted a content analysis on the responses to 15 semistructured interviews representing the five largest banks in South Africa, ten property listed companies, and the Bond Exchange of South Africa. The themes from this empirical data were used to confirm or reject the nine propositions arising from the literature review. The research revealed that firstly, through the use of securitisation, it is possible to reduce the cost of debt finance. Next, in terms of flexibility, a number of properties owned by a listed property company would be transferred into a bankruptcy remote vehicle during the securitisation process. This is done to enhance the rating of the issue. In order to obtain a higher rating, strict covenants are put in place. This, however, does not have to be a limiting factor, as some flexibility can be built into the initial structure. Finally, since the banking sector has reduced their lending rates considerably, an uncovered corporate bond may not be viable at this stage. It is more viable to reduce the cost of funding through the issue of securitised / covered bonds.