- Founded by three former Purple Bricks principals
- Pays agents on a percentage-based commission
- Currently experiencing significant growth in south-east Queensland
Despite launching only 12 months ago – at the onset of the pandemic – One Percent Property Sales has become Queensland’s largest value-based real estate agency.
The brainchild of three former Purple Bricks’ principals, the new property startup has twice as many agents and five times the listings of its nearest competitor, Upside.
“In comparison to our direct competitors, being fixed-fee or similar value-based offerings, the real difference of the One Percent Property Sales model is in the simplicity of our offering.
“Being a percentage-based commission means that our agents are incentivised to get the best price for our vendors every time.”
Aaron Lau, One Percent Property Sales Director
Additionally, One Percent Property Sale’s business model means that agents receive 100% of the commission paid by vendors.
This is around the same as a traditional agent who receives 2.5% commission once franchise and marketing fees have been taken into account, including half of the income being shared with the office principal.
“The One Percent Property Sales business model ensures everyone is a winner with agents receiving fair remuneration and vendors paying less than half the industry-standard commission.”
Aaron Lau, One Percent Property Sales Director
The startup uses new technology tailored to the real estate industry.
This includes an ‘Instant Estimate’ tool which has been built with Pricefinder – owned by Domain Group – that conceives a 15-page detailed report on home values and what is occurring in a particular local marketplace.
“Of course, this is a computer-generated report powered by an algorithm, so it won’t always be perfect, but it’s certainly a great tool none-the-less for those who might not want the hassle of having an agent in their home.”
Aaron Lau, One Percent Property Sales Director
Currently, the company is operating throughout Queensland and is recording strong growth in not just the Brisbane and Gold Coast markets but also along the Sunshine Coast, Gladstone, Rockhampton, Ipswich, Bundaberg, Toowoomba and Townsville.
To keep up with vendor demand, One Percent is continuing to actively seek new sales agents in these growth markets.
