Selling? We’ve got qualified buyers for your home
With a database of almost 16,000 buyers, de Waal is introducing thousands of prequalified buyers – complete with all their FICA documents – to his database of sellers.
“Why buy and sell property the way everyone else does?” asks de Waal. “We already have more than 9,900 buyer subscribers to our Bond Indicator subscription platform and more than 5,700 buyer subscribers to our Rent2buy Finance platform, and figures are growing daily. More subscribers are registering, flowing from the positive exposure of various media publications.”
“Meyer’s Rent2buy and related products perform exceptionally well on HomeTimes,” says HomeTimes’ director and editor, David A Steynberg. “Since HomeTimes’ genesis three years ago, two of Meyer’s articles on Rent2buy have collectively been read 40,000 times, with direct leads to his website in the region of 1,500 clicks. All his articles have been read more than 100,000 times on our platform alone!”
The recent participation in a 13-part TV series All about Property on DStv’s The Home Channel, also resulted in this positive feedback from the producers: “We have received the final viewership figures for All About Property season 1. Over the 13 weeks All About Property attracted 1,822,999 adult viewers. Not only is this brilliant for a first season, it is also great considering that the average monthly viewers on The Home Channel is approximately 2,7m.”
“Our aim is to match property sellers and buyers, either buying a home to live in, or investing in property,” says de Waal, noting that his advanced technology enables them to do it all. “A buyer who subscribes to our Bond Indicator or Rent2buy platform can do it all online and free and in less than 10 minutes and create a comprehensive ‘buyer’s profile’ by:
- obtaining their credit score from a credit bureau,
- obtaining an online indication of a bond qualification amount
- linking up a preferred bank account for an online and real-time affordability analysis,
- selecting an ideal property preference, price range, amenities and location,
- indicating if a deposit is available as well as costs for legal transfer and registration fees,
- uploading important supporting documents such as proof of income and address for FICA requirements, copy of personal identification as well as the sale agreement, once concluded.
“Further support that also forms part of the service includes:
- Assistance for first-time buyers who require the government Flisp subsidy
- Debt and affordability repair and improvement, if and when required
- Home loan application assistance
- Free online homeownership educational modules
- Legal assistance for buying a property and negotiating a property purchase
“This information, once completed, provides us with a comprehensive profile, the needs, wants, and purchase power of the buyer.”
Once the buyer’s profile and information is available, it is as simple as applying the online filtering to find the best match and “date” for the property seller.
“We already know what the seller has to offer as this information is captured on the leading property listings and is available online,” says de Waal. “All we now need to do is to connect the seller and the buyer and, in a flash, we can set up the date between the seller, the property and the buyer.
“This buyer approaches the property date ‘well-groomed’ and with the extra added value and feature that the required finances are in place to buy the property. An agreement of sale is then concluded with peace of mind and eliminates the usual tension and possible delays of a buyer struggling to get their finances approved after the sale agreement was signed.”
The two key elements that enable this unique service include:
- No 1 – Advanced financial technology
- No 2 – Unique finance for home buyers
“So far, more than 15,500 subscribers have already signed up for this service,” says de Waal. “Our aim is to assist as many as possible of these subscribers to own their own home. Some may have debt or affordability issues, but a comprehensive debt and affordability improvement service is available to assist as much as possible to achieve your dream to own your own home, and to include assistance with Government Subsidies through our Flisp services for qualifying buyers.”
A unique, online Fintech process was developed over the past five years, and is continually expanding the product and its services.
The subscription process enables a prospective home buyer to sign up on an online platform called My Bond Fitness and then have a result available within 10 minutes or less of the bond amount that the home buyer may qualify for.
The prospective home buyer can also perform an online credit check as a good credit profile is vital for any home loan application. A debt and affordability repair service is offered if the credit scorecard or affordability requires improvement. Online homeownership education guidance and information also forms part of the service.
“The home buyer can also indicate their property preference and select and area, price range, amenities, such as number of bedrooms and bathrooms, security requirements and more,” says de Waal. “All this data is then used to create a unique buyer’s profile that can then be matched with the property made available by a property seller.”
This innovation led to an agreement with one of the leading mortgage origination companies which also introduced this service for its clients. Thus far, more than 19,000 clients have made use of this bespoke service for this group.
If a property buyer only approaches a traditional bank for a home loan then such an application will pretty much be reviewed by all the banks under the same criteria. De Waal says this will reduce the success rate of a seller concluding the property sale as the transaction is only “done and dusted” once the home loan of the buyer is approved.
“With alternative finance in the form of Rent2buy Finance available (now available for properties sold in Gauteng, Bloemfontein and Cape Town Metropole in the price ranges starting at R400,000 to R1,8m) a property seller who is matched with a prequalified Rent2buy buyer is 100% assured that the sale is a ‘done deal’,” says de Waal. “The Rent2buy Finance offer is a cash sale and is only subject to acceptable valuation of the property being sold.
“The ‘cash sale’ offer of a Rent2buy Finance sale is a game-changer for any property seller, as the seller will receive the proceeds of his sale within two to three months from signature of the agreement.”
These products and services are made available to other stakeholders in the property industry as well, says de Waal.
“So far, we have rebranded and provided a white labelled service to more than 22 property stakeholders, ranging from ooba, African Bank, I-Buy-Properties, Real Estate Investor Magazine, Raceway Park Development, Select Africa, Jacqui Setoaba of Keller Williams, HIP Home Loans, Raudev, Attorney Realtor HUB, WD Saayman to Attorneys Elite Consulting,” says de Waal. “Price Check also makes this service available for its property division and its offering includes both the Bond Indicator and Rent2buy Finance services.”
“The Select Africa Group of Companies has been in property and related services for more than 30 years and has been waiting for a visionary like Meyer [de Waal] for a long time. We believe in working together as a team and introducing our rich network base and connections to support this business model in South Africa. Identifying needs in society is one thing but to be able to assist developers to position themselves to benefit and gain profits from these initiatives, is hard work.
“Strategic asset management and implementation techniques, to ensure successful execution is what Select Budget Fitness is all about. The provision of project finance, advice and monitoring/implementation thereof is crucial to our sales executives.
“The client becomes the focal point of the journey and our team of experts is equipped to identify and satisfy their needs. To have MDW INC as our legal partner makes selling property pure joy. We can now reach all the people that could never afford homes and help make their dreams come true.”