FNB customers can now sell their home on the banking app

Liam_Selby

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FNB customers can now sell their home on the banking app

FNB has launched the latest feature for its nav>> platform on its mobile banking app, allowing customers to list and sell their homes privately.

FNB customers are able to sell their homes to buyers who most likely qualify for a home loan, saving a number of costs associated with the process of property sales.
 
Nice.

I haven't been a fan of agents.

A few years back I wanted to sell a place and rather than negotiate a percentage, we both agreed that I wanted R1.6m out of the deal. They advertised the house on their normal property sites and had a few (maybe 5 couples) people go through the house after hours. She calls me after two weeks all excited as they have received an offer ... but she wouldn't tell me on the phone and we met the next night to explain it.

She told me I'd only get R1.580m out ... and when I asked what the offer was, it was R1.690m - that's R110k commission for next to nothing. I reminded her of our agreement and asked why she felt entitled to that commission. She told me it was her hard work that she'd put in but was 'kind enough' to give me R1.590m and only take R100k ...
 
Nice.

I haven't been a fan of agents.

A few years back I wanted to sell a place and rather than negotiate a percentage, we both agreed that I wanted R1.6m out of the deal. They advertised the house on their normal property sites and had a few (maybe 5 couples) people go through the house after hours. She calls me after two weeks all excited as they have received an offer ... but she wouldn't tell me on the phone and we met the next night to explain it.

She told me I'd only get R1.580m out ... and when I asked what the offer was, it was R1.690m - that's R110k commission for next to nothing. I reminded her of our agreement and asked why she felt entitled to that commission. She told me it was her hard work that she'd put in but was 'kind enough' to give me R1.590m and only take R100k ...

I would have told her sorry...no deal.

If she managed to get someone so easily then there would happily be others.

The agent I bought our other house from wanted first option to sell our existing hour and had someone to view even before it was listed properly and it was sold on paper withing a weekend.

I didn't want to budge on price and they wanted to push me to "take the good deal" I said sure you drop your commission and I'll take my share...after all you worked all of 2 days so shouldn't it be relative to how much effort you put in?

They took the knock, because if they didn't the other house they sold me would also fall through.
 
She told me I'd only get R1.580m out ... and when I asked what the offer was, it was R1.690m - that's R110k commission for next to nothing. I reminded her of our agreement and asked why she felt entitled to that commission. She told me it was her hard work that she'd put in but was 'kind enough' to give me R1.590m and only take R100k ...

crooks, like car dealers and recruitment agencies,
will send you down a river for their commission.
 
I would have told her sorry...no deal.

I wanted to ... but the way my shares were going back then, I could have made back the money fairly quickly in interest. But they cemented my feels towards them and the company
 
Very few agents are actually worth their commission. I'm still wondering if one shouldn't first try to list private for a month or two, and then attempt to sell through agent, so you know the agent has to do some "proper" work to get it sold.

And those percentage commissions on those really high value houses is a bit crazy, most agents are not worth the 5% on a R3mil property. I see some pretty expensive houses for sale that don't even have proper HDR photography on rental agency sites, I just don't understand how you can't afford <R50k to get a one day shoot and make your tens of millions of rands asset look good?

EDIT:
1540992238507.png
Overexposed:
1540992311523.png
Not sure what this is supposed to show off.
1540992356928.png
Dark shadows in areas, HDR could have sorted it out/given more control:
1540992394775.png
This is an R85 million home.
https://www.property24.com/for-sale/clifton/cape-town/western-cape/11015/104596043?plId=288359&plt=3

Not to mention most of these images are compressed to pieces due to either porperty24 or bad photographer, think it's actually property24. And you're selling huge value assets where people care about quality, low res makes the entire thing look cheaper. Oh well. /shrug
 
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Yeah it’s shocking that it’s a percentage based industry.

If there was ever anything that should have been flat rated by some margin it would be real estate agents.
 
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