Why Property24 and Private Property are important for selling property
Property24, part of the JSE-listed Naspers group, is the number one property website in South Africa, and Private Property is the second-largest. In late 2016 Property24 attempted to buy Private Property but this sale didn’t proceed, and Private Property is now largely controlled by the major traditional estate agency firms, some bond originators and Caxton.
Together, these two portals attract way over 2 million website viewers per month. The Property24 and Private Property apps have been downloaded over 500 000 and 100 000 times, respectively, on the Google Play store alone.
According to Alexa (November 2016), Property24 is the 33rd busiest website in South Africa, and Private Property is number 87. On SimilarWeb, the rankings are 26 and 60, respectively.
All the portals syndicate property listings to various associated sites but these other sites combined are insignificant compared to the major players.
Bottom line: if you want to get your home sold, you must have your property ad listed on Property24 and Private Property.
How to sell on Property24 and Private Property without paying high Estate Agency Commissions and No Fees Upfront
If you want to list on the two main property portals without paying any upfront fees or the high commissions of traditional estate agents, you can use a proven low commission service.
Searching online is the way … and the way forward
Ten years ago most property advertising was in print, which consumed the lion’s share of an estate agency’s marketing budget.
These days, probably 90% of home searches begin on a desktop computer, tablet or smartphone so your property has to be advertised online if you want to get it discovered and sold.
Some buyers, particularly older people, still look at newspaper property supplements but even when they do, they invariably also go online too to see more pictures and read up-to-date information. Estate agents tend to advertise in the property supplements more to advertise their brand and attract sellers rather than to attract buyers to their listings.
Can you list your property privately on Property24 or Private Property?
Private Property contains property listings mainly from estate agents with a few private sellers. The site offers various listing packages for those wishing to place ads directly (i.e. without using an estate agent). Compared to traditional agent commission, listing privately on Private Property would be cheaper but remember that the portal fee is paid UPFRONT (regardless of whether or not you sell your property in the time allowed), there is no guidance with the process except through a call centre, and the stigma attached to private selling will put some potential buyers off and invariably lead to a slower sale.
So a private sale is an option only for an experienced seller who is prepared to not sell at all or to take longer to sell than normal.
Property24 previously had an “estate agents only” policy, and individuals were prohibited from advertising directly. However, this policy has now changed and they also offer a self-service option for private sellers who know what they are doing, similar to Private Property.