Nethouseprices have announced to their 5,000 agents that they will be launching a low-cost 100% Agents-owned portal.
“We have been planning to launch an agent owned portal for over 12 months now, after lengthy consultations with our agents who wanted to draw a line in the sand over ever-increasing property portal charges. In recent months we have also been in close contact with well known estate agent, Nick Salmon, who has led the call for an agent-owned portal and who supports our proposals. The new portal will indeed be 100% agent-owned and controlled via a company limited by guarantee,” said Catherine Lamond, Managing Director at Nethouseprices.
Members will be asked to pay a one-off £250 membership fee per company and £150 per month per branch subscription fee to enable the company to have a media budget equivalent to the big portals and to drive good lead volumes. The first 2,000 agents will be offered a lifelong 10% discount off their fees.
In light of obvious comparisons with another, recently announced portal proposition, Catherine Lamond commented “we appear to have both come up with a similar model. However Nethouseprices has been running a free-to-list portal for several years and any other new portal with a lack of a ready-made technology platform and website will need significant time and funding to launch. Our portal will be live in a matter of weeks. We won’t be waiting a year to build the technology platform, website and set up the feeds with over 30 software companies.”
In a point of significant difference from the recently announced London-based portal proposition, estate agents subscribing to the Nethouseprices portal will not be required to remove themselves from any other portal.
The name of the new portal is still top secret, but what the company did say is that, Nethouseprices.com will not be the name. Nethouseprices will have no ownership of the company but will initially operate with a Technology Licence. All the traffic, content and the technology platform will ultimately become part of the new website and be owned entirely by the subscribing agents.
Nethouseprices was established in 2004, and lists approximately 360,000 properties from 5,000 agents and already drives some 600,000 visits per month. It is an established favourite amongst agents and the consumer, particularly for checking sold prices.