PropertyFox acquires Cape Town based low-commission digital agent
Online estate agency PropertyFox says it has reached an acquisition agreement with Steeple, a similar business which has been in operation since 2012.
In terms of the deal, the two agencies will effectively be consolidated, with PropertyFox taking on all Steeple’s clients.
The announcement follows Pam Golding Properties’ recent acquisition of low commission agency Eazi.com and SA Home Loans taking a substantial stake in PropertyFox late in 2017.
“It will add around 100 new sellers to our platform, giving clients a wider selection of quality properties to choose from. It is a business that, like PropertyFox, prioritises customer service, and along with its excellent reputation, will add substantial value to our offering,” said Crispin Inglis, CEO of PropertyFox.
He said PropertyFox’s digital real estate model resonates in several ways with South African homeowners looking to sell. “The process is fully transparent (sellers have access to more information around their sale and the value of their property in current conditions), our listings look better compared to other properties on property marketing websites and statistically have been shown to generate more views for our sellers.
“And of course the fee in our case is only 1.5% of the sales price (or min fee of R35,000),” he said.
Read: Pam Golding acquires Cape Town digital property startup, Eazi.com
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