This new App allows homeowners to sell directly to prospective buyers

This week, FNB launched a digital innovation on its app that revolutionizes the way homeowners can sell their properties. This new app allows homeowners to list their houses directly to prospective buyers, bypassing some traditional processes in the real estate market. Marius Marais, Head of FNB Mortgage Cluster, joined CNBC Africa to discuss this groundbreaking innovation. The app enables FNB clients to list their properties on the platform, eliminating the need for estate agents or other online portals. With over three million app users, FNB introduced the Nav Home functionality some time ago but continues to enhance it, most recently with the ability to list properties. Homeowners can upload up to 20 pictures of their property, attracting potential buyers. The platform also allows users to choose between connecting with pre-qualified FNB clients or estate agents, offering flexibility in the selling process. One of the key advantages of the app is streamlining the approval process for buying a property. FNB pre-approves hundreds of thousands of clients, providing them with upfront information on their qualification status. The application process is simplified, leveraging existing client data stored in the app to reduce paperwork and enhance user experience. This advancement in technology aims to make buying and selling properties more efficient and convenient for users. Despite the app's disruptive nature, FNB maintains a partnership with estate agents, recognizing the role they play in the current real estate market. Marais highlighted that the South African market has a strong reliance on estate agents, and FNB respects this dynamic. The app caters to a segment of customers who prefer to conduct their own research and take a more hands-on approach to property transactions. While empowering users with information and tools, the app still allows them to opt for traditional methods if desired. In addition to facilitating direct property transactions, the app offers benefits to users, such as a 50% saving on attorney fees and half of the first loan repayment back in e-bucks. These incentives aim to attract more users to the platform and enhance the overall experience of buying or selling a property. Attorneys remain integral to the process, handling legal aspects like conveyancing and property transfer. Looking ahead, FNB envisions a future where digital innovation continues to shape the real estate industry. While Marais acknowledged the uncertainty of the end state, he emphasized the importance of adapting to technological advancements and meeting consumer demands. By providing a seamless and user-friendly platform, FNB aims to stay at the forefront of innovation and simplify the property transaction process for its clients. In conclusion, the launch of this new app by FNB marks a significant step towards empowering homeowners and buyers in the real estate market. By enabling direct listings and offering a range of benefits, FNB is poised to disrupt the traditional way of buying and selling properties. As technology continues to evolve, the app sets a precedent for a more efficient and consumer-centric approach to real estate transactions.