“The traditional estate agency business is in its death throes.” This is the opinion of property guru, Andrew Smith, CEO of a traditional Estate Agency who has launched a new take on the industry online.
Smith’s innovative model – www.SalePartners.co.za – has owners selling their own homes, but critically using the skills and experience of professional estate agents, on a pay-as-you-go basis.
This transparent pricing enables private sellers to have access to an experienced and well-qualified agent when such services are required, at an hourly rate. Bridging the gap between the private seller model and the agency and saving the seller up to 95% on traditional commission charges.
To prove his point, Smith is offering a R1-to-sell-your-house launch deal on the website, allowing prospective sellers to experience how well it works.
“Ours is a service that traditional estate agents cannot hope to match,” says Smith, CEO of Salepartners, a hub that consolidates all services and tools required by the owners to market and sell their property online.
“We can save the sellers up to 95% on the cost of selling their home, compared to the traditional estate agency model. In a property market which even banks and economists recognize is experiencing price falls, homeowners cannot afford to throw away hard won profits or even part of their capital, on agent commissions which are based on a model predating the e-commerce revolution when agents could charge what they liked.”
“On the example of a R1m house sale,” says Andrew Smith, “You will pay an average of R2,500 with the Salepartners method, compared to an average of R50,000 if you go with a traditional estate agent. The higher the selling price, the bigger the potential savings”
Smith believes that due to the traditional model applied by the Estate Agency businesses and the lucrative nature of the industry during times of rising property prices, there has been little or no response to changing customer needs. This has created the opportunity for an innovative business to listen to customer needs, exploit market forces and change the status quo.
“This can only be to the advantage of homeowners who will have more money in their pockets,” says Andrew Smith.
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