The free to list property
portal Residential People, together with its sister site Commercial People,
have set a target to attract one million listings by the end of 2019.
Since opening in March the portals currently have around 200,000 listings spread across several countries including 43,000 listings from over 400 agents in the UK, according to the report on Estate Agent Today.
While basic listings are
free the portals also offer optional chargeable marketing tools and featured
Residential People Co-Director, told EAT: “We have done fantastically well in
reaching out to agents, and are looking for agents to support our proposition.
“Every single lead we
bring to an agent is a free lead, there is nothing not to like. Simply put, the
more support we get the more results we can deliver.”
Everyone likes something
for free so attracting one million listings should not be too difficult –
especially from estate agents many of whom appear disgruntled with the fees
charged by Rightmove. However, the real challenge will be attracting customers
to peruse those free listings – something that will most certainly not be
achievable for free. This is a property portal business model that many in the
industry will be watching very carefully to see how, and if, it works.