The query reads as follows:
You’re saying that it’s free to register. Then please explain the launching of the REASA Panel when it was made QUITE CLEAR that should the attorney/conveyancer not enter into the ‘agreement’ transfer instructions won’t be allocated to the attorney/conveyancer by the estate agents? This is in contravention of the Rules of the Competition Board and you could be reported. A vendor doesn’t have the right to put a gun to the head of the attorney/conveyancer when it comes to the allocation of transfer instructions. It’s a free market trade and at the end of the day the seller and/or purchaser has the right to appoint his/her legal representative.
Property24 estate agents will have access a system which will enable them to instruct attorneys on the REASA panel electronically, attorneys not on the panel will still receive instructions manually. Since it is the seller who has the right to choose the attorney, the estate agent is obliged to instruct on that basis either electronically or manually. The advantage of an electronically enabled instruction is the convenience it has for both the estate agent and the attorney with online reporting, which saves costs and time in phone calls. Soon we will have the ability for the buyer and seller to also logon and view the progress of the matter.
By registering for the REASA panel you agree to receive electronic instructions from Estate agents who choose to use the system at a cost of R119.00. For this you receive exposure on the biggest property portal in the country. Many of our smaller customers cannot afford the cost of setting up their own website, so we are delighted to be able to offer them the attorney pages, and the only cost they have is when they receive an instruction.
Many of the attorneys already on the panel have actually requested their estate agents to rather send their instructions electronically because it is far more convenient.
Essentially we are just offering another choice of delivery for an instruction. Physical delivery or Fax or email or ETI, but ETI comes with great advantages to all parties.
I hope this answers your question. Please feel free to give me, Lee-Ann King, a call at 0833215010