Estate agent commission worldwide has seen a gradual decline over time, with levels now ranging between 0.75% to 2.25%, particularly so in the developed world. However, in South Africa the status quo has persisted and nothing has changed for the last 50 years, where fees can range anything between 5-7% excluding VAT.
The reduced expenses associated with advertising and enhanced developments in technology has enabled OnePointFive to break away from the mould of the traditional Estate Agent. These benefits are passed onto the Seller by only charging a fixed rate of 1.5% (plus VAT) on the successful sale of your home. On the sale of a R10,000,000.00 home for example, the saving to the Seller is up to R632,000.00 (factoring VAT which is now payable on a lower commission).
Despite a highly advanced and easy to use platform, we still very much of the belief, that there is the necessity for human interaction, a professional and personal feel. Buying and selling a home can be emotional, and if not familiar with the process, it can be sometimes daunting, as with the technology offered, when it shouldn’t have to be.
It is for this reason, we give you the option of using either utilising our in person face to face traditional estate agent service at no extra cost or to utilise our platform – the choice is yours.
If you decide to make use of our technology, then our innovative and cutting-edge platform allows for a far more streamlined and transparent process, including online signing of a mandate and the ability to easily negotiate in real time an Offer to Purchase (OTP). The system allows for full integration between all parties involved, to include the Seller, the Buyer, OnePointFive, Conveyancing Attorneys, Mortgage Brokers and Compliance Companies.
The founders of OnePointFive.
Peter Stenslunde
CEO
Damian Barnard
COO