Online selling platform MiSale launches in NSW and VIC

MiSale, an online startup that connects people selling their homes directly with buyers, is launching into New South Wales and Victoria following its success in Queensland.

The MiSale platform has facilitated close to $12 million in sales, saving users potentially $293,000 in commissions, since its launch earlier this year in Queensland, it said in a media release.

The startup is part of the growing trend of online selling platforms like Purplebricks, which offer a cost-effective model by doing away with the traditional agent fees. 

“At zero cost and with no real-estate agents and their associated commissions, users can sell their home independently on the platform, taking control of all aspects of the selling and buying process,” said the media release.

MiAgent also offers an aided service, offering an agent assistance package for $2,999.

The startup says the service comes with “no commissions and no lock in contracts”.

MiSale offers a simple and seamless alternative for home buyers and sellers, with 

Its services, including conveyancing, solicitors, mortgage brokers and legal minds, are all accessible on its platform. 

MiSale also allows its users to list their homes on realestate.com.au for free.

Co-founder Ewen Malcolm said the easy-to-use platform facilitates the conversation between seller and buyer.

“Selling your home is a process that has been covered in smoke and mirrors for many years, with pages of paperwork and litigation. MiSale’s freemium model is aimed at reducing the barrier to entry for even the most skeptical person. Users have nothing to lose, there is absolutely no risk involved,” said Malcolm.

“We have some strong goals, targets and blue sky ideas in the pipeline, so our expansion to Eastern Australia is only the beginning for the business.” 

The average commission on homes sold in Queensland, Victoria and New South Wales was 2.47 per cent, 2.13 per cent and 2.11 per cent, respectively, the release said quoting LocalAgentFinder data.

In Sydney and Melbourne, where median home prices are already very high, this works out to  thousands of dollars which users of MiSale can potentially save while selling their properties.

He said real estate agents needed to re-skill themselves as technology continues to cut out the middle-man for the industry. 

“There will always be disgruntled people when you disrupt a system, but this is the way the world is moving, so agents can either get on board and prosper or be left behind,” Malcolm said.

He said several real estate agents were willing to come on-board to help with the additional support some customers need with buying or selling. 

“Not everyone is well spoken and confident, and agents can offer strong value in this respect,” he added.

Australian home buyers are increasingly turning to the internet to research their future homes. Research by National Association of Realtors found that 90 per cent of prospective home buyers are looking online to find their perfect home.