The signing of an offer to purchase is usually the end of the estate agent’s responsibilities, and the beginning of the conveyancer’s responsibility.

There are however a few aspects that estate agents should cover, which will dramatically increase transfer times, which not only benefits clients, but also benefits the agency.

Being a part of your FICA compliance, copies of the identity documents, proof of residence, the latest municipal bill for the property, the tax numbers of the parties (or annual income if not tax registered), the marital status of the parties, and the contact details for each party are documents which can be acquired upon signature of the sale agreement.

The collection of these documents will ensure that preliminary drafting can begin immediately, and transfer speeds are increased. The resultant effect is that the rates clearance applications and transfer duty applications can be completed in advance.

With the current municipal delays, it is imperative that pro-active steps be taken when dealing with transfers. Cash flows of estate agencies, interest payments, client service and reputation all rely on the speed that the transfer is done.

A further aspect that must be dealt with is informing buyers and sellers of the costs involved in the property transaction, and saving for these costs. This would go beyond the conveyancing fees for transfers and bond registration. The aspects that should be covered are the rates clearance amounts, levy clearance amounts, budgeting for electrical compliance and entomology reports, notary fees for exclusive use areas, transfer duty, and service initiation fees for bonds.

Adding more information to your services will adequately prepare clients for their future obligations, and will ensure that the magic time period of transfers being registered within 2 months becomes a norm.