BARTERCARD PROPERTY LISTINGS BREAK $100M

Written on the 5 January 2016 by Nick Nichols

BARTERCARD PROPERTY LISTINGS BREAK $100M PROPERTY trading under the Bartercard system is going viral with the Gold Coast-based trade exchange revealing it has broken the $100 million mark in real estate listings globally.

Bartercard Australia CEO Clive van Deventer (pictured) says a significant jump in investor property sales and enquiries has led to record listings across five of the eight countries in which it operates.   

"Australia is particularly a hot spot where we presently have $65 million in listings with a further $35 million plus in other countries, and its allowing vendors to circumvent the real estate agencies and act as private sellers to plunge sales-associated costs," says van Deventer. 

Bartercard, a subsidiary of BPS Technology (ASX:BPS) has 250 properties currently listed in Australia, New Zealand, South Africa, the UK and Thailand with an average trade dollar component of 35 per cent. Van Deventer says this equates to potential savings of more than $35 million in cash on real estate for its members.

"Selling a $500,000 property through a real estate agent can attract up to $17,500 in commission and advertising costs, whereas when a vendor sells through Bartercard they only pay a 6.5 per cent cash fee on the digital currency component, which equates to approximately $8000 on a $500,000 listing based on a 25 per cent trade dollar component," he says. 

"From an investor's perspective they are reducing their cash outlay and borrowing less from the bank. Extra cash payments they make on top of the cashless deposit reduces the life of the loan, and if they do sell the property for a capital gain they convert the digital currency straight into cash."

Joanne Rahn, property developer and owner of swim and resort-wear label Glamorous Life in Surfers Paradise, recently listed three investment properties on Bartercard's real estate site at around $300,000 each. They were picked up by a buyer in less than 24 hours of listing.

She says the properties, in Brisbane's Bayside area, each included a 30 per cent, or $90,000 trade component in Bartercard's digital currency and are currently under contract. 

"I built the properties and was prepared to take a profit in trade dollars if it meant a quick sale and minimal disruption to my existing tenants," says Rahn.

"Because it's largely investors who purchase real estate through Bartercard, there are less inspections and the properties typically sell faster."

The business owner, who has already poured $20,000 of the digital currency into renovating her residential property on the Gold Coast, says she will invest the trade dollar profits from the future sales into further renovations, or reinvest them into the next development.



Author: Nick Nichols

Latest News

SUPREME COURT ORDERS OCTAVIAR GROUP TO WIND UP

THE Queensland Supreme Court has ordered the Octaviar Group of companies (formerly known as MFS Group) to be wound...

CEOS BRAVE THE COLD TO RAISE $1.4 MILLION FOR THE HOMELESS

MORE than 400 executives confronted the cold last night in the annual Vinnies CEO sleepout, which took place benea...

JENNIFER WESTACOTT ON BANK TAX: IT EXPOSES GOVERNMENT "DESPERATION"

South Australia's new bank levy exposes the desperation of a government that is unable to get its own budget and ...

BASKETBALL'S COMEBACK CONTINUES WITH NBL CLUBS TO FACE OFF AGAINST CHINA'S NATIONAL TEAM

THE RESURGENCE of Australia's National Basketball League (NBL) continues with China's national team to play t...

Related News

BASKETBALL'S COMEBACK CONTINUES WITH NBL CLUBS TO FACE OFF AGAINST CHINA'S NATIONAL TEAM

THE RESURGENCE of Australia's National Basketball League (NBL) continues with China's national team to play t...

DOMESTIC TOURISM IN AUSTRALIA BREAKS RECORDS, INJECTS $61.7 BILLION INTO NATIONAL ECONOMY

DOMESTIC Australian tourists have spent a record breaking $61.7 billion on intra and interstate travel this year, acc...

THE DOCTORS WHO PLUNGED INTO THE SHARK TANK AND SURVIVED WITH A $500,000 INVESTMENT

THEIR mission is to change the face of cancer care with an app that empowers and connects patients and care givers...

IMF BRACES FOR BIG LOSS FOLLOWING WITHDRAWAL FROM SPOTLESS CLASS ACTION

LITIGATION fund IMF Bentham (ASX: IMF) is set to lose as much as half a million dollars after it ceases funding one o...

BOOK YOUR FUNCTION SPACE HERE

 

 

 

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter