Real Estate Investor Magazine South Africa May 2013 | Page 12

MASTER INVESTOR
crews, doing alterations and becoming what he
calls a ‘qualified builder’. A house he renovated in
Houghton was eventually bought by Benny Slome
of Tedelex.
Around 1976 recession, Lew decided it was time
to get back into buying and selling real estate. He
knew he had a flair for advertising and he joined
Aida Real Estate as Advertising Manager. He
enjoyed writing off-the-wall ads that created
quite a stir among the agents. Around the same
time Kentucky Fried Chicken (KFC) brought the
franchise concept to South Africa and the company
investigated the possibility of franchising Aida
Properties. It became the first property franchise
company in South Africa and listed on the stock
exchange in 1978. By 1982, 12 franchises had been
established and Lew enjoyed teaching franchisees
to run their property businesses successfully.

Going it alone
In 1982, Lew stepped out on his own and
established Lew Geffen Estates. From the first day,
the company was on a growth curve and became
the market leader in the Johannesburg area. Lew
attributes this success to what he had learnt from
his mother.
After 20 years of running Lew Geffen Estates,
and with over 200 agents supported by an
impressive infrastructure, Lew felt it was time to
take the brand to the next level. An agent showed
him a Sotheby’s International Realty® (SIR)

property and Lew decided to make contact. At first,
Lew Geffen Estates became an affiliate of SIR, but
when Lew saw the effect the SIR brand had on the
business, they rebranded the company to match
the SIR royal blue and obtained the full Sotheby’s
International Realty ® master licence in 2003.
The client profile of Lew Geffen Estates changed
almost immediately to a more high-end clientele.
The results were so positive, the company decided

“Lew follows the old
adage ‘location, location,
location’ and believes
that a run down
property in the right
location is where you
will find real value.”
to roll out a national franchise operation under the
leadership of Barak Geffen.
To day there are just under 1 000 Lew Geffen
SIR agents operating from 60 offices in South
Africa, which places the company among the top
10 property brands in South Africa. The franchise
company is run by CEO, Jason Rhode. Globally,
Sotheby’s International Realty ® operates in 47
countries with over 13 000 agents.

Do you invest?
Lew invests in property personally. He follows
the old adage “location, location, location” and
believes that a run down property in the right
location is where you will find real value. Based
on his extensive experience in the construction
industry, Lew believes that in the right area, you
can buy an old shell and convert it into a gem.
He has bought and sold multiple properties
using this method and also holds a sizeable
property portfolio.
Lew owns si x residential properties in
Johannesburg and two properties in Cape
Town. Two of the properties are commercial
office buildings, one in Randburg and the other
the Head Office.
Lew credits his wife Sandy, who has also been
involved in the business for over 44 years and
with whom he enjoys a great partnership, for his
success. Lew calls himself an innovator and a
maverick and loves the creative part of his work:
watching an idea come to life. He still plays an
active role in the marketing of the company,
including contributing to the success of their
exclusive partner magazines, Private Edition
and Habitat.

LEW’S ADVICE FOR PROPERTY INVESTORS

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The luxury sector - R2.5 million
and above - is now a thriving
market to invest in.
Timing is critical and now is the
best time to buy.
There is a major shortage of
property.
Astute buyers are coming in, so
do your homework.
Sellers offer good value, but
most prices are governed by the
banks.
Now is the time for developers to
seize the opportunities as there
is a lack of supply.
Gearing should be conservative
- 100% gearing can result in big
strain.
10% per annum is a healthy
return on geared money.
Another boom will come around,
so invest for the long term.
RESOURCES
Sotheby’s Realty

10

May 2013 SA Real Estate Investor

www.reimag.co.za