BuyMyplace Saves Vendors Around $1.4 Million in Fees and Commissions

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The do-it-yourself online alternative to real estate, BuyMyPlace is pleased to announce that the Company has saved their vendors around $1.4 Million in fees and commissions since December 2009, resulting from $44,866,500 worth of properties sold through BuyMyPlace during this time.

The do-it-yourself online alternative to real estate, BuyMyPlace is pleased to announce that the Company has saved their vendors around $1.4 Million in fees and commissions since December 2009, resulting from $44,866,500 worth of properties sold through BuyMyPlace during this time. This outstanding result highlights the viability of buying and selling property, online through a ‘for private sale’ Company, such as BuyMyPlace.

The analysis also revealed that 56 per cent of properties sold for MORE than what the agent quoted their property to be valued at, with 45 per cent of customers selling their property for the same or more than their asking price and 17 per cent of properties selling for MORE than their advertised price. On average, people who sold their property for more, received an extra $25,000 or 5 per cent of sale price. On average, it took a BuyMyPlace customer 41 days to sell their property and only 6.9 hours were spent selling their property through BuyMyPlace. BuyMyPlace believes that these results demonstrate the exciting momentum that private sale real estate is currently experiencing in Australia.

In Australia, Real Estate agents have long been the primary resource for buying and selling property. BuyMyPlace was originally established because the founders believed that there was a much better way to deal with Real Estate in Australia. BuyMyPlace aims to revolutionise the way people buy property, empowering vendors to be in a stronger position when managing their most important investment- their home. BuyMyPlace provides buyers and sellers with all the tools and technologies that real-estate agents typically use, but allow the vendor to sell the property themselves, cutting out the real estate agent, advertising and marketing and other associated fees.

With independent research showing that 25 per cent of people would use an alternative method to sell their property if it was widely available, BuyMyPlace has the potential for significant growth within a market in need of an alternative. The directors of BuyMyPlace continue to develop methods of differentiation that will continue to make BuyMyPlace unique in the marketplace. In pursuing a proven business model that has worked in many other countries around the world, including Canada; where do-it-yourself sales account for more than 30 per cent of the market, and the US; where do-it-yourself sales account for around 25 per cent of the market, BuyMyPlace intends to revolutionise the way in which property is bought and sold in Australia.

According to Peter Butterss, BuyMyPlace Chief Executive Officer, “In Italy, Germany and Israel, up to 50 per cent of real estate sales are being conducted using a ‘for sale by owner’ website, like BuyMyPlace, for private real-estate transactions. BuyMyPlace intends to replicate that success in the Australian property market and these results indicate that we are making excellent progress.”

“There are very few national players in the real-estate agency market in Australia. Most of it is dominated by local players, with one or two offices and they are not looking globally or broadly at the whole market and how things are moving. Real-estate hasn’t consolidated yet. BuyMyPlace is ahead of its time in this respect.” “I believe in another 18 months to two years we will be a household name in Australia and four to five years from now people will wonder why they did it the old way. 90 per cent of people find property on the internet, our site has hundreds of thousands of hits per week and our packages are sold right across the large real-estate advertising portals, like REA and Domain.”

BuyMyPlace is listed on the Australian Small Scale Offerings Board (ASSOB) and is seeking up to $3 million to fund the continued expansion of the Company and provide working capital for 2010/2011. The offer is available only to sophisticated investors.

With strong results, a unique proposition and aspirations to become a part of the new philosophy for buying and selling property, BuyMyPlace looks set to become the bricks and mortar decision for those looking for a do-it-yourself online real estate alternative to buying or selling property.

For more information please visit the Company website, http://www.buymyplace.com.au or http://www.assob.com.au/bmp
For further information please contact:
Peter Butterss Rod North Chief Executive Officer Managing Director Buy My Home Limited Bourse Communications Pty Ltd T 1300 289 697 T (03) 9510 8309 M 0408 670 706 E rod(at)boursecommunications(dot)com(dot)au

ABOUT BUY MY PLACE – JOIN THE REVOLUTION SELL IT YOURSELF AND SAVE!
BuyMyPlace is an online real estate advertising company and brand that represents the future of real estate in Australia. BuyMyPlace empowers you with the choice of selling your own home online without paying high agent commissions or expensive advertising costs.

The site (http://www.buymyplace.com.au) is a “do it yourself one-stop shop” which provides all the tools and services Real Estate Agents currently have at their disposal. The site provides the consumer a totally new experience which is easier, convenient, more effective and most importantly far more cost effective.
The business was launched nationally in April 2009. Since then, BuyMyPlace has become the biggest and most recognised sell your own home company in Australia.

STATISTICS FROM RECENT DATA ANALYSIS
Ï $44,866,500 worth of properties sold through buyMyplace
Ï $1,399,094 worth of commission savings for customers Ï Average Days to sell a property through buyMyplace: 41 days Ï Average time spent selling their property through buyMyplace: 6.9 hours
Ï 80% of properties sold for the same or more than what a real estate agent valued the property
     20% of properties received LESS than what a real estate agent valued their property at.
    23% of properties sold for the SAME as what an agent quoted the property at.
    56% of properties sold for MORE than what the agent quoted their property to be valued

Ï 45% of customers sold their property for the same or more than their asking price
    17% of properties sold for MORE than their advertised price
    28% of properties sold for exactly their advertised price
    55% of properties sold for LESS than their advertised price
    On Average people who sold their property for more received an extra $25,000 (5% of sale price)

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Peter Butterss
buyMyplace
+61417-559-692
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