Purchasing online – you bank, you buy groceries, you read the news, you make travel plans, you arrange milestone events. So why not buy, sell, rent or let property online?
To parallel these technological movements – the property game is going digital. And not just to view available properties or schedule an appointment with an estate agent, but the entire purchase process.
Currently the only site of its kind in South Africa, Quoin Online offers a paperless service to suit our modern times. All paperwork and due diligence documents are accessed through the site (www.quoinonline.co.za) instead of emailing heaps of manual documents.
“It’s the Amazon of property sales,” says co-founder of Quoin Online, Wayne van der Vent.
He explains that the property market has, until now, effectively used the internet simply as a marketing and communications channel.
“We realized when we started this that there had to be a better way. If you think about how many documents are needed or produced in property transactions, there are many trees lost just due to traditional property sales,” Van der Vent adds.
Potential buyers are able to submit final or competitive offers online , which are sent to the seller for review. The competitive offer system has been known to achieve high above asking price, up to 150 percent higher in a few incidences.
The firm also meets all legal requirements as with traditional real estate transactions.
The team come from an investment background, giving them in-depth understanding as to what a buyer needs in order to be able to make an unconditional offer. Moving to a smart technology platform allows Quoin to offer more than what is available traditionally.
“We reach a wider audience through this platform, constantly implementing the latest technology and updating our software in-house,” shares Karen Miller, director and principal of Quoin Online.
“Technology is where the property market is moving when it comes to sales and rentals. You may be reluctant, or need to be dragged kicking and screaming in that direction, but if you don’t you could well be left behind.”