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:

 

 

 

 

 

 

 

 

DO YOU HAVE ALL THE COMPLIANCE CERTIFICATES FOR YOUR PROPERTY?

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

R342 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





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