Trade Me Property delivers more viewers and more leads of buyers, renters and investors to the real estate industry than any other media platform. That being said it's recently implemented price changes have not gone down well with the industry despite the recommendation and logic for the vendor to pay the fees. Some agents are threatening boycotting the site. In my view the potential to boycott is limited as the power rests with consumer. Here are some background articles that speak to this topic:
The fact is that most every country that has a real estate industry has a vibrant online property portal industry that delivers a marketing platform for agents, buyer, sellers and renters.
This global industry is expanding and consolidating and conservatively estimated at over $25bn of value across over 2,500 companies around the world.
Such an industry has much to learn from one another and that is the role of Property Portal Watch and the global conferences they run.
There is a growing level of media attention which would seem to indicate that the LVR restrictions are having a catastrophic impact on the property market as well as the new home market. As ever examining the accessible data and putting it in context provides illuminating and leads to a sense that cooling is the appropriate descriptor
We live in a world with ever greater access to relevant and accessible information in the form of data and experience, all of which can be shared at the touch of a screen. This I think is a challenge to the real estate industry - a challenge that if embraced could help the property market become less volatile
A single week and Trade Me Property faces two major changes - implementation of a new pricing model for real estate companies sees a massive increase - I asked should this be absorbed or passed on, the response surprised me. Also Brendon Skipper Head of Trade Me crosses the floor to join Realestate.co.nz!
The latest series of The Block was a media success and with all properties sold at auction last night a property success story. So what lessons can we learn from the programme as an indication of the state of the Auckland property market?