New online dating service started by a group of property attorneys

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Despite the recent “drop” in interest rates which may stimulate business, a group of attorneys decided to supplement their income by creating an online dating site and services.So far, the interest has been overwhelming says Meyer de Waal, a practicing property attorney, one of the founding members of this initiative.

But, before the thought comes up that we have joined the oldest profession in the world, we decided to be a matchmaker and stick to the merchandise and the industry that we are familiar with says Meyer.

We developed a “property dating” service.

We match ready, willing and able buyers and sellers and their properties with each other, says Meyer.

Through our unique software Property Technology, we are able to filter and segment the requirements and ability of a property buyer. Once we have all the information available, we then match these features with a property for sale.

We can segment the requirements of a buyer according to property price, area, size and other amenities required, even if a Flisp subsidy is required for a first-time buyer. (Flisp is the Government Finance Linked Subsidy Programme for first time buyers www.flisp.co.za).

With the unique software developed, we can even detect at an early stage if the buyer first requires attention to improve his or her credit profile or affordability.

Rent2buy options are also available. We recently created a National Rent2buy database as well as the demand for rent2buy properties are overwhelming.

The national platform of attorneys participating to use and share these unique Property Technology [PropertyTech] the Attorney Realtor Hub, combined this with the collective legal skills, expertise and knowledge and own client databases, enable us to expand the value offering to sellers and buyers exponentially says Chris Fick, one of the co-founding members of this initiative.

Property sellers list their properties for sale with Attorney Realtors and then we are able to match the features of the property with the database of buyers, says Chris. 

Benefits to sellers 

  • We realized that there is a demand to sell properties and pay less commission, but still receive the best possible service from the professional marketing the property and the negotiation to close the property sale.
  • Our commission for a property sale is only 2,5 %, compared to the 5-7 % that some agencies demand.
  • Our other differentiating feature is also that we only introduce a cash or a buyer that has been properly identified and prequalified by us.
  • The property is showcased on all the major property listing portals such as Property 24 and Private Property. Up to 9 property listing portals are available.
  • A customized Virtual Reality Tour compliments the professional service.
  • The property negotiations and drafting of a sale agreement are undertaken by an attorney, says Meyer.

Benefits to Buyers 

  • 50 % of home buyers are first time buyers. In a major city with a population of approximately 1,3 million inhabitants, 80% of the home buyers are earning income below R20 000.00 per month and may require home ownership education and assistance before they embark to do the largest investment they will ever make.
  • These future home buyers usually have no or little access to:
    • home ownership information and education
    • access and knowledge to basic information like how to get yourself ready to buy your own home,
    • access to government Flisp subsidies as a first-time home buyer
    • how to apply for a home loan
    • negotiate a property purchase and complete a sale agreement
    • get out of debt to afford to buy a property.
  • Our home ownership education courses were already implemented to a tenant data base of over 11 000 tenants for a well-known property group as well as more than 3 700 employees of African Bank. More than 5 500 of subscribers to our own My Bond Fitness services also received the complimentary Home Ownership Education course material as well, says Meyer.

Empowering home buyers through education assist buyers to make informed and educated choices, says Charlene Nolte-Joubert a property attorney and also a co-founder of this initiative.

It is much easier to match the offerings of a seller and requirements of a buyer when a buyer participated in the home ownership education initiatives and is fully aware of his home purchase affordability and credit profile as these aspects are some of the cornerstones for a successful property transaction.

“Connect with a “property date”

This article is a general information sheet and should not be used or relied on as legal or other professional advice. No liability can be accepted for any errors or omissions nor for any loss or damage arising from reliance upon any information herein. Always contact your legal adviser for specific and detailed advice. Errors and omissions excepted (E&OE)

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