All Forum Posts by: Tyler Zwart

Hi @James Mc Ree, thanks for your input. Yes, a few things would have to be ironed out of course ie ranking system ect. But i dont think it is an impossible challenge to over come. It is just a challenge to overcome. 

You make a good point with your last paragraph and to that i do not have a sound answer at the moment. But i do think it can be over come just how it was over come in your case. A challenge non the less and a point noted. 

majority of cases though from ' i like it' to 'deal agreed' to ' sale concluded' will not be as complex as the one in your case however i think in house case specialists could be provided to clients whom red flags are pickup between the deal agreed phase to the sale concluded phase. These will all be picked up during the sales process once their is deal lodgement at the respective municipalities. this is when the case specialists could get involved and smooth over things if need be. Another plus and positive experience to uses of the website if it can be executed corretly i think 

@Daniel Kong Thanks man. I am actual a realtor. @Russell Brazil you do make a good point. I think if you had to put in some sort of protection or guarantee to the homeowner that events like this would not happen, it would definitely help to ease their mind. This could also be mitigate with buyer vetting ie the ranking system @Charlie MacPherson scuffed at. 

@Mike Cumbie, i respect our industry and fully know the lengths we go through to get the right clients for the right homes as well as how we nurse and sometimes save deals that are on the proverbial "life support". I am not saying it is unnecessary to have an estate agent, but it will become redunant and more expensive to have one.  just like how it is more expensive to have a person build a car then it is to have a robot build a car. The later approach is infinitely more scale-able and results in cheaper cars for the consumer. Perhaps the same could be done if agents comm was removed from the picture ? Just a thought..

Also, all the external emlements would need to be built in ie conveyancing firms's, a list of approved contractors / handy men, bond/morgate originators ect but i think if it could be done seamlessly and the buyer has a great experience as well as the seller. It is game over for 99% of agents...  

@Steve Morris, i understand.. do you think it would be helpful if such a website provided pricing tips and analytics to sellers and buyers on the area based off of the stock that is sold through the platform ? Maybe this could then eliminate the need for a broker on the ground. Of course some people would prefer the old school approach and that is fine too. 

Thanks Guys, 

You all make good points and i find it extremely helpful. Let me try and paint another picture, with regards to this topic. 

Imagen this... you go online, and peruse through listing. You eventually find a home that you like. You click the property and schedule a viewing through an inbuilt calendar. Simple :) you then sit back and wait for your viewing(s) date(s). 

This calendar immediately syncs with the sellers calendars and notifies them that 'Bobby and Marry 'want to view their property they have listed. The owner has 24 hours to accept or reject this request, unless he has stipulated he will take same day viewings with no window period. They accept Bobby and Mary's viewing. 

(Bobby and Mary are automatically ranked on the website as either 5 star buyers or 1 star buyers. these pre defined metrics could be things such as if they have uploaded their government issued ID's, how many viewings they have been to previously and whether or not they are on time or always late ect. if they have already uploaded 3 months banks statements etc) (these metrics could be anything, SIMPLE enough for the buyer to access and but super HELPFUL IN EXPEDITING the sales process later down the line) This also helps to weed out serious buyers and window shoppers

Anyways, Bobby and Mary are 4 star rated and the seller is happy with that :) 

Bobby and Mary view the property,un-pressured by an agent helicoptering them and happy to take their and time and mingle with the owners during the process, getting a feeling if the property would be a good fit for them. This is great as i removes the agent as well as all the moving parts associated with scheduling between 3 parties, agent, buyer and seller, as you only have 2 now, the buyer and seller.

They decide they like the property. And request to purchase it online after their viewing. This is where the agent is ejected and the process runs smoothly and hassle free. After accepting the TC's the documents are then moved onto the transfering laywers ect ect. 

If potential buyers require more info on the property, this can be done online to dedicated support and bonus, can schedule a viewing with an agent later down the line if they would like before finalizing the deal, provided the house is still available.

Arguments against points above - 

@Mark H. Porter It can save you a bunch of money and time, right ?

@Daniel Kong I agree, if one of your buddies is an agent, sure go with them full. But if not then this could be a great option. 

@Charlie MacPherson I agree, but what if the support where experts and could advise if offers were for example, Excellent, good, fair, bad, terriable etc 

Please poke holes in this concept guys, i am trying to get feedback. Thanks!

Hi Guys, 

I have this crazy idea to sell houses without estate agents. There are numerous benefits to this other then the obviously huge financial benefits as an agents commission on average of 5% is not needed to be paid by the seller. 

I wanted to get some view points and ask you guys, do you see value in estate agents ? or would you, as a buyer, be prepared to walk through houses without one and/ or would you, as a seller, be prepared to sell without one provided there is the necessary support, protection and transparency to make you feel comfortable? 

Do you find estate agents a necessary tool to use when selling a house? or do you only use them because its the only option you have ? or do you only use them because you do not actually know all the steps to selling your property which could make you feel overwhelmed ? 

What if there was another way ? Away to save the seller money, and to give the seller control of the deal. Away for the buyer to have constant communications with the owner and real time updates with regards to their purchase, removing the agent and the real issues of communication delays and human error.. 

What do you guys think ? is the traditional estate agent a ' dinosaur' or are they still necessary ? Would you be prepared to buy a house without one or sell a house without one? 

I hope to hear back from you guys and look forward to your insight and input! 

Warmest regards,

Tyler Z

Update to who ever is reading this forum. I presented an offer to the client today of R 1 195 000 for the property. She countered with R 1 480 000. It is currently listed for R 1 495 000. Based off of her counted, the properties ROI has just increased from my initial calculations.

I also forgot to mention the the equity we would build up in the property and recoup on top of the current ROI amount of R 545 626.13. It would be around R210 600 roughly. Think about this as the cherry on top.

So all in all 756 226.13 out. 

Hi @Shane Rodger, I trust you are well. 

Sure, when would work best for you ?

Hi there,

If this is not the correct page for this post please could someone let me know and point me in the right direction?

My name is Tyler, 23 years old, and I have a short-term rental business, ZwartGroup Properties. It is less then 1 years old.

In a nutshell, I am looking for a partner to sign suretyship as I do not qualify for a 100% bond of R1 485 000. I would cover the R 65 167.40 for the bond costs and transfer costs. The initiation fee.

The property is fully self sustaining, consisting of 3 flatlets and one main house (3 beds 2 bathrooms). it has 100% tenant occupancy on 2 of the 3 flatlets. The third flatlet is in the final phase of construction and is expected to be done in 2 months time (before transfer will happen). The owners currently live in the main house.

If my calculations are correct, the return on R65 167.40 would be 837.26% (over five years when we sell). 167.25 % cash on cash return per year. At the end of five years we would walk away with R545 626.13 for an investment of R65 167.40. A just need someone to stand behind the idea with me.

Warmest regards,

Tyler 

Maybe just best to have one site ? less moving parts, central and easier to manage. Plus SEO will probably be cheaper... just a thought though.

Greatings from Cape Town, South Africa!

 good point. thanks

Hi Guys, my name is Tyler and I am a Newbie on BiggerPockets. 

A bit of background info. I am in my early twenties and live in Cape Town, South Africa. I have a great property which will yield a 15% ROI on purchase price and a 25% ROI on investment. I have a few investors lined up and whom i frequently contact sourcing deals for. I would like to approach them with this opportunity and use the wholesale tool/calculator but unfortunately its only in USD and not ZAR. Any suggestions how i could tackle this ? Thanks!