MyNews24 is a user-generated section of The stories here come from users.

Steeple SA
Comments: 7
Article views: 1328
Latest Badges:

View all Steeple SA's badges.

Low cost estate agents revolutionising property market

19 May 2014, 11:13

With rising fuel costs, food costs, bank costs and other increasing financial pressures putting consumers in a price pinch saving money is perogrative.

Purchasing a home is the single biggest investment most of us will make, and losing money on this deal is not an advanatageous scenario.

That is why companies like Steeple, South Africa’s leading low cost estate agency, has taken the South African property market by storm.

The question needs to be begged; why would one choose a low cost estate agent - where the seller shows potential buyers around instead of an agent - rather than a traditional estate agent?

Well for one low cost estate agents have far lower fees. Steeple has a commission of 1.5% compared to the 5-7% + VAT charged by traditional estate agents. On a R1.5m house, for example, Steeple's commission would be R22 500 whereas a traditional agent could charge between R85 000 and R120 000 including VAT.

Unbiased valuation. Low cost estate agents prefer to offer a transparent service and work with the seller to finalise the selling price.  Steeple, for example, provides the seller with a comparative market analysis which shows the recent sales in the area so that the seller can see the actual selling prices achieved.  The seller is also free to canvass the opinions of other agents or their bank.

Low cost agents, on the other hand, usually work with open mandates and therefore are focused on setting a price at which that the property will attract buyers, rather than a price that will persuade the seller to sign a sole mandate!

In SA there are no buyer's agents, only seller's agents, so if you approach an agent about your requirements you are only ever going to shown houses that that agent has a mandate for.  Hence, it makes more sense in SA to look on the property portals where all the properties are listed.

Greater online marketing. These days, the majority of buyers search online for properties and that is where a property needs maximum exposure.  Unlike many traditional agents, a low cost agent will focus on online marketing and typically their internet marketing reach would be broader.  The more people that see a property, the more potential buyers there will be and this increases the chances of concluding a sale.

Superior customer service. Low cost agents operate from a centralised office and can respond immediately to viewing requests from buyers, or to queries from sellers.  Buyers need quick responses or will lose interest.  In the traditional model, buyers and sellers have to communicate with an agent who is invariably on the road and can't respond immediately or record the request.

Convenience. With the low cost model, the seller is able to schedule viewing appointments at times that are convenient, rather than be at the mercy of an agent's diary.

In essence, the low cost estate agency model is akin to the low cost airline model. The focus is on providing the critical service/s at the lowest possible cost.  In the 21st Century, people are no longer prepared to pay extra for the luxury of an outdated business model.

Disclaimer: All articles and letters published on MyNews24 have been independently written by members of News24's community. The views of users published on News24 are therefore their own and do not necessarily represent the views of News24. News24 editors also reserve the right to edit or delete any and all comments received. publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
Comments have been closed for this article.

Read more from our Users

Submitted by
SA riders vs drivers: Biggest pet...

From ‘slapping side-mirrors’ to ‘changing lanes without indicating’, Wheels24 users share their biggest pet peeves about motorcyclists and car drivers in South Africa. Read more...

14 comments 5224 views
Submitted by
The problem with defining people ...

A while ago there was a spate of articles about white privilege that I really wanted to respond to but business being what it is I simply didn't get the time. However considering the racial nature that many of the discussions on all social media platforms soon descends to the topic is as relevant as ever. Read more...

0 comments 102 views
Submitted by
Yolanda Mtintsilana
I am a happy feminist

I am a happy feminist and I do not want a head in my house but two hands that are going work together to build a home.  Read more...

0 comments 568 views
Submitted by
Bobby Shabangu
Let's talk about Gaddafi

What crimes did Muammar Gaddafi actually commit? 

0 comments 905 views
Submitted by
What Prof Piketty doesn't know ab...

Economist Piketty has stirred up a lot of attention around the world. But he really needs to understand the radical difference between South Africa and, say, Europe. Read more...

0 comments 1140 views
Submitted by
Kdoggy dog
Mzansi: is this a jungle for thug...

Let's all stand together and get rid of corruption once and for all since the ruling party aren't serious about anything.  Read more...

0 comments 174 views


E-mail Alerts The latest headlines in your inbox

RSS feeds News delivered really simply.

Mobile News24 on your mobile or PDA

E-mail Newsletters You choose what you want

News24 on Android Get the latest from News24 on your Android device.

SMS Alerts Get breaking news stories via SMS.

Blogs Your opinion on you, me and everyone.

TV Get us in your home, on your television.

Interactive Advertising Bureau
© 2015 All rights reserved.
There are new stories on the homepage. Click here to see them.


Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.

Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire network.


Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.

Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.