Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Trade Me tweaks real estate listing fee to placate agents

Trade Me tweaks real estate listing offerings to keep agents onsite

By Suze Metherell

July 30 (BusinessDesk) - Trade Me has added a monthly listing subscription fee option for realtors after some agents baulked at the online auction site's move to pay-per-listing fees.

The $1,399 monthly subscription offer for Auckland, Wellington and Christchurch-based listings, and $999 for elsewhere, comes after some real estate agents boycotted the Wellington-based company's move to a $159 pay-per-listing charge last year. Businesses which stick with the pay-per-listing model will only pay $99 if the house is valued below $450,000.

"We’ve taken on board feedback that different markets are at play across the country, and affordability from vendors and real estate businesses varies," Nigel Jeffries, head of Trade Me property said in a statement. “We acknowledge that the pay-per-listing model we rolled out last year works well for some business owners, but it does not work for everybody."

Last year Trade Me's classified advertising segment, which includes property, motors and jobs advertisements, posted 29 percent sales growth to $69.7 million, making it the biggest source of operating income for the company.

Property is seen as a key growth engine for the website's classified advertising business, as it faces flat revenues in general auctions business. The company estimates it has a 15 percent, or $18 million, share of the $115 million property-for-sale classified advertising market in New Zealand.

According to Trade Me data, gathered by Perceptive Research, 68 percent of house hunters use the auction site, 6 percent use realestate.co.nz and 4 percent use newspapers.

Shares of Trade Me fell 2 percent to $3.45 and have declined 13 percent this year. The stock is rated an average of 'hold' according to 10 analysts surveyed by Reuters, with a median price target of $3.93.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Media: Julian Wilcox Leaves Māori TV

Māori Television has confirmed the resignation of Head of News and Production Julian Wilcox. Mr Maxwell acknowledged Mr Wilcox’s significant contribution to Māori Television since joining the organisation in 2004. More>>

ALSO:

Genetics: New Heat Tolerant Cow Developed

Hamilton, New Zealand-based Dairy Solutionz Ltd has led an expert genetics team to develop a new dairy cow breed conditioned to thrive in lower elevation tropical climates and achieve high milk production under heat stress. More>>

Fractals: Thousands More Business Cards Needed To Build Giant Sponge

New Zealand is taking part in a global event this weekend to build a Menger Sponge using 15 million business cards but local organisers say they are thousands of business cards short. More>>

Scoop Business: NZ Net Migration Rises To Annual Record In September

New Zealand’s annual net migration rose to a record in September, beating government forecasts, as the inflow was spurred by student arrivals from India and Kiwis returning home from Australia. More>>

ALSO:

Scoop Business: Fletcher To Close Its Christchurch Insulation Plant, Cut 29 Jobs

Fletcher Building, New Zealand’s largest listed company, will close its Christchurch insulation factory, as it consolidates its Tasman Insulations operations in a “highly competitive market”. More>>

ALSO:

Scoop Business: Novartis Adds Nine New Treatments Under Pharmac Deal

Novartis New Zealand, the local unit of the global pharmaceuticals firm, has added nine new treatments in a far-ranging agreement with government drug buying agency, Pharmac. More>>

ALSO:

Crown Accounts: English Wary On Tax Take, Could Threaten Surplus

Finance Minister Bill English is warning the tax take may come in below forecast in the current financial year, as figures released today confirm it was short by nearly $1 billion in the year to June 30 and English warned of the potential impact of slumping receipts from agricultural exports. More>>

ALSO:

Get More From Scoop

 
 
Standards New Zealand

Standards New Zealand

Mosh Social Media
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news