Traditional estate agents in South Africa charge a commission calculated as a percentage of the selling price, plus VAT. This fee is payable only if the property is sold, and paid when the property is finally transferred into the new buyer’s name (i.e. at the end, on transfer).
Some newer agencies may charge an upfront registration fee, whereas others have a cancellation fee that is payable if you want to de-list your property with them.
The standard estate agent commission for most properties will be in the range of 5 – 7%, plus VAT. Sellers of premium properties may be able to negotiate a lower fee than 5%, whereas entry-level homes may attract estate agency commission of up to 10%. So if you have a higher-priced property then you would normally pay a lower percentage fee than for a lower-priced property.
Steeple are the first low commission estate agents in the country.
Please use our online Savings Calculator to see what your commission savings will be when you use us rather than a traditional real estate agent. (Note: the Savings Calculator is set for our Regular service.)
The key elements of our estate agent commission are:
No Upfront, Hidden, “Marketing”, or Cancellation Fees
We don’t charge any fees besides our commission on sale. We are only paid on success. What you see is what you get!
Our Commission depends on which Option You Choose
For our regular service in the metros of Gauteng, Cape Town and Durban, we offer 2 different mandate options (Sole or Open). For either option, you can cancel whenever you want, for whatever reason, with NO penalty fee, should you not be happy with our service.
If you have already identified a potential buyer, then our Private Sale Assist service is best for you. Your residential property can be anywhere in South Africa.
If we do earn our estate agent commission, then it would be payable only when the property is transferred into the new buyer’s name.
1.1 Regular Service (Sole Mandate option)
The commission is 2.5% of the selling price (subject to a minimum commission of R35 000) plus VAT.
For the first 60 days, the mandate is a sole and exclusive mandate, whereafter it becomes an open mandate at the same low commission rate and minimum.
A sole and exclusive mandate means that only Steeple is permitted to market the property. An open mandate means that the seller or any other agent can sell the property.
1.2 Regular Service (Open Mandate option)
The commission is 3.5% of the selling price (subject to a minimum commission of R45 000) plus VAT.
The mandate is an open one from the start.
2. Private Sale Assist
The commission is 0.5% of the selling price (subject to a minimum commission of R15 000) plus VAT.
You must first find the potential buyer yourself (i.e. privately – by listing on Property24, Private Property or Gumtree) if you want to use this option. We can’t help if the buyer was referred by another estate agency.