Homes24.co.uk considers pay-per-lead model
Homes24.co.uk plans to start charging agents to list stock.
The regionally-focused property portal owned by media business Archant only lists available properties, rather than including sold and under offer properties, and is currently free to use.
It claims to list 160,000 properties from 400 clients, including Countrywide, Sequence and Savills.
Martin Cunningham (pictured), commercial director at Homes24, says: "We're exploring the different options [for charging] out there, and could consider pay-per-lead. Pay-per-lead is a fair way - it's easy to quantify and easy for the agent to understand."
Homes24 will be finalising the charging model over the summer, with a plan to start charging agents to list on the site in 2010.
Cunningham believes the portal will add value for agents due to its regional focus, which in time will include more information on local schools and leisure facilities.
"Ninety to 95% of applicants tend to look to buy within a 20 to 25 mile radius of where they are living - so house buying is a local business," he says.