MEDIA RELEASE 13 February 2007
BBX NZ expands into real estate and financial services
BBX Holdings is on track to become the world’s largest reciprocal trade
exchange, recording a net profit of AUD$1.080 million after tax last year.
The Australian company, located in Christchurch and Auckland and operating under
a master franchise agreement in New Zealand, now offers a broader range of
financial services in areas such as mortgage broking, insurance, business
finance and financial planning.
The membership-based trade exchange will grow to a potential membership of over
300,000 businesses through the establishment of master franchises in India,
China and Vietnam this calendar year. Franchise agreements are already signed
for these countries and others are under negotiation.
The company’s exponential growth in trading activity last year included a
significant increase in the number of real estate transactions.
Jason Robb, General Manager for BBX New Zealand said many members are now using
their BBX membership to create wealth through real estate investment.
"There is an increased interest in real estate in the trade market because
members can use trade dollars for 20 to 30 percent of the purchase price," Robb
"BBX also offers interest free trade loans repayable over 18 to 36 months
depending upon the situation and buyer.
"BBX is gathering up property for sale at a rapid rate to coincide with the roll
out of BBX Real Estate Offices," he said.
In New Zealand, members range from those in the hospitality and retail to
finance and development industries.
Sebastian Stapleton from Mastagard, a waste collection company, purchased
property through the exchange last year.
"We have been members for a couple of years and found this a good way to convert
our trade dollars into cash equity in property," Stapleton said.
"It was a smooth transaction. They were very good to deal with and tailored
their service to our needs. Our trade coordinator makes regular contact with us
and she made us aware when new properties became available.
"We accept BBX through our company and we find it a successful means of
attracting customers that we wouldn’t otherwise get," he said.
BBX Chief Financial Officer, Mr Tim Creasy, said the company could also offer
financial advice to members through the establishment of BBX Financial Advisors.
"We have been partnering with a number of parties in the finance industry to
offer, not only trade overdrafts, but cash finance to BBX members and
non-members," Creasy said.
"Offering financial planning advice is just one more step in becoming a one-stop
financial shop for our members.
According to Creasy, BBX Money is able to provide leading bank and non-bank
mortgage products and other cash loans directly.
"With BBX Money, first home buyers and property investors will have the
opportunity to purchase real estate with up to 30 percent interest free loan
deposit. This provides immediate equity, avoids high mortgage insurance and can
be repaid in either cash or by the sale of inventory on the BBX Auction site.
This service is available for both members and the general public," Creasy said.
Overseas franchise interest and partnership enquiries have been received from a
number of countries including Japan, Singapore, Malaysia, Indonesia, the
Philippines, Iran, Portugal, Mexico, Costa Rica and the United States. The
company’s internet-based cashless trading platform is currently being converted
so members from any country can trade across countries and will be able to
select the language they wish to use when transacting with BBX.
BBX uses trade dollars, which have par value with the local currency, to assign
value to the transactions that take place between members.
The trade exchange successfully listed on the Australian Stock Exchange in
August 2005 to become the first and only publicly listed trade exchange in
Members in Australia and New Zealand transacted $146 million in trade in the
2006 financial year and the company is the second largest trade operator in
Australia, facilitating the ‘cashless’ trading of goods and services between
BBX New Zealand can be contacted on 03 372 1562. The website is
Released for BBX by Dennis Rutzou Public Relations (www.drpr.com.au)
For further information please call Fiona Pennington or Aleks Czerwinski on (02)