New free to list property portal Residential People has secured 800 enquiries for its member agents in 4 weeks, it is reported.
The portal, on which agents
and sellers can list for free only paying for optional marketing tools, says
that it aims to generate 6,000 new property enquiries per month going forward
and have 1.6m listings by the end of the year.
Users of the portal’s UK
service include Belvoir, Lambert Smith Hampton, Avison Young and Open House.
Christopher May, Founder Director,
says: “The support we have had from agents across the UK so far has been
fantastic, and we are confident that we will be able to continue to create an
attractive value proposition as we gradually scale-up our business to support
more agencies from across the UK and beyond.
“In terms of value, our
plus points are easy to see, we are a completely free to list portal and one
that stays the same no matter how big or small an agent might be.”
The portals business has certainly
shaken up the property sales and letting industry over the last few years.
However, it has proved controversial amongst agents for the fees charged and
subsequent impact on their overheads and margins. It will be interesting to see
how a competitor which operates what is essentially a freemium model fares and
what impact it might have on the market.