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Essay / Property Fox Case Study - 787
In Property Fox's five months of operation, 234 properties across the nine provinces were listed on its website, collectively valued at R660 million. So far, 12 properties worth between R500,000 and R35 million have been sold. “Thanks to our low commissions, we saved South Africans R2.5 million. If we were to sell all the properties on our records, we could save South Africans R36.3 million. Inglis says the response to Property Fox so far is indicative of the simplicity of the offer. Sellers register online with Property Fox, after which 60 professional photographers from its network will visit their home to take photos of the interior and exterior. Co-founder James says sellers are introduced to potential buyers during the home viewing process. “There is a traditional rule in real estate that is to not introduce a buyer to the seller because it could ruin the sale. We figured no one has tried it, let's turn that golden rule on its head and introduce buyers to sellers,” says