Online estate agency PropertyFox has acquired Steeple, a similar business which has been in operation since 2012. PropertyFox will be taking on all Steeple’s clients, effectively consolidating both agencies.
Crispin Inglis, CEO of PropertyFox, says he is delighted with the deal. “It will add around 100 new sellers to our platform, giving clients a wider selection of quality properties to choose from.”
He says PropertyFox’s digital real estate model resonates in several ways with South African homeowners looking to sell. “The process is fully transparent (sellers have access to more information around their sale and the value of their property in current conditions), our listings look better compared to other properties on property marketing websites and statistically have been shown to generate more views for our sellers. And of course the fee in our case is only 1.5% of the sales price (or min fee of R35,000).”
Steeple CEO David de Waal says the two companies have extremely complementary business models and he was delighted for PropertyFox to absorb the Steeple listings into its robust platform.