Steeple, Eastern Cape
Residential Property For Sale
About Steeple, Eastern Cape
In 2012 David de Waal decided to offer South African home owners a new way to sell their properties. David is a chartered accountant and a Master Practitioner in Real Estate and he saw that the estate agency business was inefficient and outdated, which meant that sellers were paying way too much in estate agency commissions.
He realised three things:
properties for sale are now advertised on the internet so buyers no longer need estate agents to show them what is available
people who search for properties online want quick responses to their enquiries. According to research done by Private Property (the property portal), the average estate agent takes 3 days to respond. This may be because agents are often on the road and unable to give the enquiry the immediate attention it deserves. Slow responses mean opportunities to sell are missed
buyers often do not trust what estate agents tell them about a property and prefer to get straight answers from the seller directly.
David then created an innovative model for the estate agency business in South Africa that reflects the new reality. That business is now called Steeple and it offers a transparent, effective service at far lower commission.
The key is that we operate nationally from a single, central office. There are no agents who show buyers around, rather the seller (or a friend) does so. We pass on the savings to sellers in the form of reduced commissions.
As low cost estate agents, we focus on all the critical things required of an estate agent – such as valuation, marketing, dealing with offers and legal paperwork – and empower the seller to manage the easy part; showing buyers around.
As most buyers now search for properties online, our focus is on creating the maximum exposure possible by advertising on all the major property websites in South Africa and by using our own proprietary research into online buying behaviour to get sellers more buyers. The business is set up to respond quickly and effectively to enquiries from buyers so that no opportunities to sell are missed.
Although online estate agents have operated successfully in the UK for a number of years, David was initially unsure of how quickly the low cost concept would catch on in SA. However, he had faith that South Africans would recognise the substantial savings that Steeple would create, and it soon became clear that that faith was justified. Steeple is now growing rapidly as word spreads that effective selling doesn’t have to mean high commission!