SELLING PRICE |
NORMAL COMMISSION |
ATTORNEYS HUB COMMISSION |
SAVING |
R500 000 |
R42 750 |
R14 250 |
R28 500 |
R1 000 000 |
R85 000 |
R28 500 |
R56 500 |
R1 500 000 |
R128 250 |
R42 750 |
R85 500 |
R1 700 000 |
R145 350 |
R48 450 |
R96 900 |
R2 000 000 |
R171 000 |
R57 000 |
R114 000 |
R2 500 000 |
R213 750 |
R71 250 |
R142 500 |
R3 000 000 |
R256 500 |
R85 500 |
R171 000 |
R4 000 000 |
R340 000 |
R114 000 |
R228 000 |
R5 000 000 |
R427 500 |
R142 500 |
R285 000 |
R6 000 000 |
R513 000 |
R171 000 |
R342 000 |
R10 000 000 |
R855 000 |
R285 000 |
R570 000 |
R30 000 000 |
R2 265 000 |
R855 000 |
R1 710 000 |
SELLING YOUR PROPERTY – PART 2
In the previous article, I mentioned that many people feel estate agent’s commission is too high, but that trying to sell without an agent, i.e. as a private seller, has a very low success rate.
There is one other option that remains. An increasing number of law firms are getting on board as “estate agents”. The Estate Agency Affairs Act allows attorneys to act as estate agents in the name of and from the premises of their professional practice.
New technological innovations make it possible to exclude the estate agent and to make it possible for the conveyancer in the law firm to be involved right from the introduction of the parties to one another, to assist with the drafting and finalisation of the agreement of sale and registration of the transfer in the Deeds Office.
The existing feature is that most law firms do this at about one half of what estate agents are asking! Law firms belonging to the Attorney Realtor Hub generally charges only 2,5% commission!
Here is an illustration of the savings for various selling prices: