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buyMyplace.com.au Ltd gains traction with commission free model

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buyMyplace.com.au Ltd (ASX:BMP) has leveraged its commission free offering to property sellers with a 44% increase in revenue to about $375,000 for the June quarter.

The company has had over 3,000 customers selling their homes through the company and achieved about $1.5 billion in property sales since it commenced trading in 2009.

Its disruptive business model is gaining traction to compete with mainstream real estate agents.

In contrast with the real estate sector, buyMyplace saw new listings increase 22% in Q4 2016 compared to the prior quarter. The last quarter is traditionally slow for the sector.

buyMyplace listed on the ASX earlier this year and completed a $4 million capital raising.

The company saves home-sellers an average of about $15,000 in real estate commissions and fees based on the sale of the average $600,000 property.

Significantly, average revenue per listing in Q4 FY16 is up 25% on last year.

buyMyplace posted an EBITDA of $283,000 from revenues of $934,000 in FY2015. The FY2016 quarterly numbers point towards considerable growth prospects over FY2015.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

Quick facts: buyMyplace.com.au

Price: 0.07 AUD

ASX:BMP
Market: ASX
Market Cap: $4.73 m
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