PHOTO: One Percent Property Sales

Queensland-based One Percent Property Sales celebrates reaching their 200 houses milestone within 14 months of their initial launch.

An innovative and game-changing Queensland-based real estate company, One Percent Property Sales, has reached a major milestone of 200 houses sold since its launch only 14 months ago amidst the COVID-19 pandemic.

The brainchild of three former Purplebricks’ agents, One Percent Property Sales has enjoyed intense growth, dominating the Queensland market to become the State’s number one value-based real estate brand.

One Percent Property Sales Head of Operations, Paul Cole said in just 14 months the company had achieved unprecedented results for both its agents and clients.

“We have sold 200 homes, transacted over $105m of property and saved more than $1.7m in commission for our vendors,” said Mr Cole.

“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.

“Collectively, we are also seeing amazing results in terms of overall conversion rate of 45% from appraisal to listing – which is significantly higher than anything Purplebricks ever achieved – it’s a real testament to the quality of our team and the strength of the offering.”

One Percent Property Sales is being referred to as the Uber of the real estate industry by not being a franchise model, but rather an opportunity for prospective agents to sign up and sell properties under the umbrella of the brand.

Co-founder David Sullivan says the name of the start-up reflects its policy of taking one per cent commission plus GST on sales, as compared to traditional agents who he says take an average of 2.5 per cent on sales.

“We’re going to be a disruptor, but that’s OK,” said Mr Sullivan.

“The market share is big enough for people to have a choice between the traditional real estate businesses and other models.

“And our personal belief is that vendors have been paying too much in sales commissions for too long.”

The One Percent Property Sales business model allows for fair levels of marketing with the cut in costs coming from agents working remotely, without the expenses associated with physical office spaces and also through savings brought about by the adoption of cutting-edge technology.

“Our innovation with time efficiency is a competitive factor, and we’re leading with what we do with technology,” said Mr Sullivan.