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.
Gone are the days of expensive advertising in the newspapers and Property24.com has become the go to website for all residential property at a significantly reduced cost. Additionally in Cape Town, if your property is in good condition and close to schools, hospitals, greenbelts, oceans and has views, it actually sells itself very quickly, if realistically priced. Why would you want to pay anything more than 1.5% ex VAT for the sale of your house if you know it will be sold in 2-3 weeks?
The founders of OnePointFive.
Peter Stenslunde
Principal and Director/Owner
Damian Barnard
Director/Owner