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

 

Real Estate: Housing Prices Head South In Most Of NZ

Housing became more affordable for first home buyers in many parts of the country including Auckland last month, as falling prices more than offset rising mortgage interest rates. More>>

ALSO:

Cosmetics & Pollution: Proposal To Ban Microbeads

Cosmetic products containing microbeads will be banned under a proposal announced by the Minister for the Environment today. Marine scientists have been advocating for a ban on the microplastics, which have been found to quickly enter waterways and harm marine life. More>>

ALSO:

NIWA: 2016 New Zealand’s Warmest Year On Record

Annual temperatures were above average (0.51°C to 1.20°C above the annual average) throughout the country, with very few locations observing near average temperatures (within 0.5°C of the annual average) or lower. The year 2016 was the warmest on record for New Zealand, based on NIWA’s seven-station series which begins in 1909. More>>

ALSO:

Farewell 2016: NZ Economy Flies Through 2016's Political Curveballs

Dec. 23 (BusinessDesk) - New Zealand's economy batted away some curly political curveballs of 2016 to end the year on a high note, with its twin planks of a booming construction sector and rampant tourism soon to be joined by a resurgent dairy industry. More>>

ALSO:

NZ Economy: More Growth Than Expected In 3rd Qtr

Dec. 22 (BusinessDesk) - New Zealand's economy grew at a faster pace than expected in the September quarter as a booming construction sector continued to underpin activity, spilling over into related building services, and was bolstered by tourism and transport ... More>>

  • NZ Govt - Solid growth for NZ despite fragile world economy
  • NZ Council of Trade Unions - Government needs to ensure economy raises living standards
  • KiwiRail Goes Deisel: Cans electric trains on partially electrified North Island trunkline

    Dec. 21 (BusinessDesk) – KiwiRail, the state-owned rail and freight operator, said a small fleet of electric trains on New Zealand’s North Island would be phased out over the next two years and replaced with diesel locomotives. More>>

  • KiwiRail - KiwiRail announces fleet decision on North Island line
  • Greens - Ditching electric trains massive step backwards
  • Labour - Bill English turns ‘Think Big’ into ‘Think Backwards’
  • First Union - Train drivers condemn KiwiRail’s return to “dirty diesel”
  • NZ First - KiwiRail Going Backwards for Xmas
  • Get More From Scoop

     
     
     
     
     
     
     
     
    Business
    Search Scoop  
     
     
    Powered by Vodafone
    NZ independent news