The arrival of digital real estate solutions like LeadHome and PropertyFox does not spell the end of every property agency in South Africa, but rather numbers the days of those agencies that do not offer an exceptional service to their clients.
While the launch of Internet Banking certainly changed the way that many clients do their banking, it has not shut the doors of all traditional bank branches and the same can be said about the arrival of online marketplace Airbnb - it has surely created a digital industry and new possibilities - but it has not closed down every hotel or guesthouse in the country.
Start-up tech companies in real estate pride themselves on a stress free and more affordable experience and these are attractive selling points as some people have indeed had previous bad experiences and are looking to test a new method.
In the case of reputable property agencies however, this will only serve as motivation to further up our game and to demonstrate to clients exactly why we earn the commissions that we do and why personal interaction in any property transaction will remain non-negotiable.
Here are a few things that estate agents do:
For Buyers:
- Create short-lists of suitable properties to save buyers time and effort when looking for property
- They help buyers identify suburbs that would be a good match, particularly regarding schooling and places of worship
- They refer buyers to a bond originator to get a bond pre-qualification, to save them the heartbreak of searching for property priced beyond their means
- They assist buyers in understanding how the value of a property is determined
- They are the negotiater between the buyer and the seller
For Sellers:
- They research recent sales, registrations and properties currently on the market in order to assist in the appropriate pricing of your property.
- They discuss repair work and tidying up of the property so as to present it in the best possible light and to avoid over-spending on unimportant aspects
- They create a marketing plan that works for the seller and their lifestyle
- They show the property to prospective suitable purchasers and answer all their questions
- They negotiate for the seller, and if necessary, assist in connecting the seller with relevant strategic partners like conveyancing attorneys, electricians until registration.