Pero has high praise for low commission model

Mike Pero Real Estate launched in February this year and in May the first agents came on board in Auckland and Canterbury, offering the promised commission rate of 2.95% (plus GST), below the national average for real estate commissions from the major industry players or around 4% (plus GST).

"We did our market research before we launched and found that New Zealanders wanted lower commission rates, without compromising on service," said Pero.

"Our next generation culture and philosophies have hit a note with New Zealanders, and we're growing ahead of our expectations."

He said the Mike Pero business model was able to provide a lower commission structure by reducing middle management, new marketing technology and less bricks and mortar.