A new digital platform is set to revolutionise the way people sell and buy property in South Africa.
Going live on 8 July, Simply Online is the first fully automated platform to bring together real estate, financial technology, and key third-party vendors to facilitate the trading of real estate assets.
This now means that a homeowner can manage the private sale of their property seamlessly from start to finish for a low fixed fee of R9,500 excluding VAT. The fee itself is only payable once the property is sold.
Throughout the process, there is no external involvement from traditional estate agents or property consultants, with sellers and buyers having access to the tools they need via an interactive digital dashboard. This dashboard enables the two parties to communicate directly, manage viewings, and complete the necessary legal documents with the support of the platform’s conveyancing partners located countrywide.
Other benefits for sellers include an instant online property evaluation to inform the price, as well as access to 97% of all prospective buyers in South Africa within just 60 minutes of completing a listing.
The platform’s intuitive peer-review system also allows buyers to rate sellers after a viewing. This rating is based purely on the accuracy of the listing.
Ralph Reilly, CEO of Simply Online, said: “This is an exciting time for the real estate industry in South Africa. In recent years, we have seen a rise in digital platforms, such as Airbnb and Naked Insurance, giving people more control and freedom over their choices, and we believe the same principle can apply to property transactions.
“We want to challenge the status quo and use the power of technology to create an online community by directly connecting sellers and buyers to one another via our secure platform. Thanks to the low fixed fee, Simply Online will also enable people to ultimately pocket more money from the sale of their home.”
One of the partners involved is Ooba Home Loans. As a leading home loan expert, it will enable prospective buyers to go through the approval processes required to secure a bond. In addition, Ooba gives buyers the ability to shop around for the best home loan deals.
Speaking about the platform’s security features, Reilly added: “Security is a top priority for us at Simply Online. That’s why all sellers and buyers are verified during the sign-up process to confirm their identity.”