A couple of months ago, we reported a number of startups braving the market by launching right at the beginning of the coronavirus pandemic. A risky move, to be sure, and one that Homesearch is struggling with.
The new property portal, which totes itself as being “the future of the property industry” has announced that its long-awaited launch is being postponed.
Homesearch is setting up to disrupt the market and be a thorn in the side of Rightmove. The delay could mean that Rightmove has a little more time to prepare for more competition on top of the struggles the coronavirus has brought to the real estate industry.
However, the move to delay launch is seemingly out of nowhere, as a notice of launch is still on its website and it had recently hired 14 new staff.
Giles Ellwood, the CEO of Homesearch, has explained that they might have bitten off more than they could chew with such a speedy launch.
“We wanted to achieve something radical in two months. Unfortunately, it’s going to take us three. Pushing the public release back by four to five weeks will allow us more time to properly onboard agents, more time to integrate further with CRM providers and more time to test.”
Postponing the launch is not only expected given the current market climate but also a good move. However, three months isn’t anything to sniff at, either.