An Australian beef cattle farmer has sold his property for $1.875 million without an agent – and saved himself $56,000 in fees, reports The Australian Financial Review.
Grazier Brad Marzato fattens 300-350 cattle on "Wyeworriee", a 35-hectare beef cattle property in the Hunter Valley in NSW, which he sold using online selling platform BuyMyPlace.com.au.
"Initially I was going to go with an agent but rang three in the local area, who didn't even bother to ring me back,” he told AFR. “One still hasn't.
"Agents around my way seem to be uninterested, their motivation is poor, and there was no way I wanted to hand them a cheque for $56,000 commission to do nothing to sell my home.”
Marzato sold to the second person who inspected the property and said the process was so smooth he’ll never use a real estate agent again.
BuyMyPlace, an ASX-listed company, reports that 11 percent of its current listings are rural properties.
The portal was floated in March through a backdoor listing, reported a 55 percent jump in listings revenue from March to 30 June 2016.