Q&A with buyMyplace
Q: Do you think there is an increasing trend towards private sales?
A: There is an increasing trend with average number of new listings per week in the Commission Free segment growing 20% over the last twelve months compared to same period prior year.
Q: What are the benefits for property owners in using buyMyplace?
A: buyMyplace enables vendors to save an average of thousands in commissions and fees charged by traditional real estate agents. By listing on buyMyplace, vendors automatically receive a listing on realestate.com.au, domain.com.au and other major property portals – until sold and at no extra cost. If vendors require additional services such as auctioneers, professional negotiation, expert advice or virtually any other service, buyMyplace can arrange this for the vendor. Consequently, vendors can choose the services they need, rather than pay high costs for services they don’t need. Plus, buyMyplace also provides unlimited phone and online support, until the property is sold.
For vendors in capital cities, the savings on selling your home yourself via buyMyplace are very significant;
- Sydney: Average saving = $23,075
- Melbourne: Average saving = $17,550
- Brisbane: Average saving = $15,800
- Adelaide: Average saving = $13,875
- Perth: Average saving = $19,150
(savings are calculated as average commissions and marketing costs less the buyMyplace package price)
Further advantages exist in choosing buyMyplace via the choice of four value packages priced from $650 to $1,295 that offer vendors a range of services and benefits, enabling them to choose the package that best suit their needs. Plus, should vendors require additional services or assistance, virtually everything they need is available from buyMyplace.
Q: Where was the buyMyplace concept originally generated?
A: buyMyplace started in 2007, with the development of its web site, but was commercialised in 2009 and now almost 3,000 Australian vendors have sold their property via buyMyplace. The Commission-Free model has also been very successful overseas, across Europe and North America and it accounts for 9% or residential property sales annually in the USA and 23% in Canada.
Q: I note, with your ASX listing, that expansion of online marketing is in the pipeline. Are you able to share any of your plans in that regard?
A: We will be investing in increasing awareness and demand for buyMyplace across a number of online channels, such as SEM, SEO and Social Media. buyMyplace already has a strong following on Facebook, which we expect will continue to grow as more Australians become aware of this fantastic opportunity to get the price they want and save thousands in commissions and fees by selling it themselves.
Sellers can find out more about buyMyplace here.