FAQs HomeLegal

HomeLegal Realty Frequently Asked Questions

  • How can HomeLegal Realty afford to offer such low commission as opposed to other traditional estate agencies?

    HomeLegal Realty has one office and all of our experts in each department work under one roof – we have no offices in each of the Overberg areas and pay no franchise fees as well as other substantial expenses that the traditional estate agencies incur due to their out-dated model. These are all unnecessary costs we can save and pass on to our clients.

  • Is HomeLegal Realty an estate agency and will estate agents sell my house?

    HomeLegal Realty is the real estate department (“agency”) of a law firm, LB Vorster Attorneys, Hermanus, comprising real estate attorneys and property professionals who provide all the services pertaining to the listing, marketing selling and transfer processes under one roof. Attorneys may, as part of their practice, offer the services rendered by estate agents.

  • Does HomeLegal Realty have their own team of attorneys in the same office?

    Yes. We want to create a seamless experience for our clients where everything is done as simply as humanly possible with the help of technology and the expertise of every property professional under one roof from sales to the transfer process. This is an efficient and convenient way of selling your property.

  • Does HomeLegal Realty provide valuation services?

    Yes, and always free of charge. The old way of doing a valuation is relying on an estate agent who will come to your home to view the property and essentially sell you on the idea to give him/her exclusive rights to market your home for sale (sole/exclusive mandates). Agents do not work for a salary, but on commissions. It is in their interest to see you face to face and offering valuations is the perfect opportunity for this sales process. The real valuation process starts online at the office where the area and similar properties are examined to generate an accurate sales price for your home.

  • Does HomeLegal Realty require exclusive mandates?

    Although we prefer a sole mandate (as it is in the best interest of the client), you are however welcome to sign an open mandate with us. An exclusive mandate puts you as the client in a most unfavourable position and we are therefore not in favour of such a mandate. HomeLegal Realty will never expect of you to pay them any commission if you are indeed the effective cause of the successful sale of your property.

  • Who will show my property to prospective buyers?

    You show your own property as this has proven to be the most effective. An agent will never know your home as well as you do. We can, however, offer this service at an additional cost. Please contact the HomeLegal Realty office for more information.

  • What are the differences between the various types of mandates?

    • Open mandate – you and more than one agency can list and market your property.
    • Sole mandate - you and a single agency/firm can market and sell your property.
    • Exclusive mandate – only the mandated agency is allowed to sell your house. Even if you sell your house yourself, the agency is still entitled to collect commission from you.
  • Where will my home be visible to prospective buyers and generate leads?

    Your home will be active on all the major local property portals, including HomeLegal Realty, which will result in your property being viewed by the most potential buyers – over 95% of buyers viewed their properties online first and our network exposes your home to millions of buyers in the market.

  • What are the services HomeLegal Realty offers from start to finish?

    With an office comprising real estate attorneys, we offer the following services: valuation, professional photography, marketing & advertising, buyer verifications, negotiations, closing the deal and the transfer of your property. It makes sense to have a team taking care of you and not one individual agent with high commissions payable.

  • How long does the transfer process take to legally complete the sale?

    You can expect to wait 10-12 weeks depending on whether the deal is financed or paid in cash in addition to other factors.

  • How much savings can I expect using HomeLegal Realty to sell my home?

    Please use our calculator to see your substantial savings!

  • Why is it an advantage to me as the client to have HomeLegal Realty and not a traditional estate agent selling my house?

    (Answer wrote by Meyer De Waal at Attorney Realtor Hub)

    “The current estate agent model is still operating in “the Stone Age”.

    “Estate agents are showing a property to 20 or 30 buyers before they get an interested and committed buyer, and this is why they have to charge 5% to 7% commission to compensate for all their time spent – and then on top of this, face the risk of 50% of home loans being declined,” says de Waal, noting that the misconception exists that the seller pays the commission, but that it is actually the buyer as the seller adds the commission to what he wants in his pocket at the end. “Included in the purchase price is usually a commission paid to a sales agent and, on a R2m property deal, the commission added to a purchase price can increase the price by R140,000 if a 7% commission is paid; a 5% commission will raise the price by R100,000 (plus VAT).

    “Imagine if the commission was just 1.95%? The savings for the buyer would be substantial and enable the purchaser to more easily qualify for a home loan, and render the seller more likely to sell the property much faster - a win-win for everybody!”

    Property selling agents warrant the high commissions charged, based on the premise that they have huge overheads, spend many hours soliciting property mandates for sale, incur expensive advertising costs, show a home to some 20 to 30 prospective buyers before a suitable buyer is found, and then complete the dreaded paperwork”

    “This includes the legal contracts and FICA documents: tasks many despise!” noting that after all this hard work, almost 50% of home loans submitted are declined and the agent has to start all over again. “We analysed and broke down, step by step, the process a property sales agent goes through to sell a property. We realised that by introducing and combining the latest available technology – correctly aligned and applied – thousands of fruitless administrative hours are saved in the property sale cycle improving and proficiency and keeping costs down.

    “These savings can be passed on to the consumer and as such also speed up the property sales process with the added bonus that property sellers and buyers will also enjoy a much more enjoyable and efficient property sale and purchase transaction, and as an added bonus, less expensive.”

HomeLegal Realty

Buying or selling a home is a big step and at times stressful.

Trust our real estate attorneys to streamline and effectively handle the purchase or sale of your property from start to finish at a low fixed commission.

Subscribe to our newsletter

Contact Us

LB Vorster Attorneys, Hermanus, trading as: HomeLegal Realty*

Suite 24 & 25, 1st Floor, Astoria Village, Main Road, Hermanus

+27 (0)28 313 0136

lb@lbvorster.co.za
yvonne@lbvorster.co.za
gawie@lbvorster.co.za

https://www.homelegal.co.za/

 

Web Development by the Jaydee Media Team