Late last year thinkproperty.com changed to a free-to-list model and it already looks to be paying off for the UK portal, with the company reporting that the number of agents listing on the portal has risen.
It’s the first instance we’re aware of where a previously pay-to-list or subscription style property portal has changed, to become free-to-list for agents.
thinkproperty.com is wholly owned by GMG Property Services, a division within Guardian Media Group. GMG also own vebra.com and coresystems.co.uk.
According to the company’s website, the offer of free listings extends to GMG Property Services customers. Existing customers are defined by the company as those who have a software solution from either VEBRA, Core Systems or CFP Software, are existing customers of thinkproperty.com or have a website designed and/or hosted by The Media Design House.
On the company’s website a Q&A section addresses the reasons for the change of business model:
“We recognise that in the current climate Agents need support. Marketing budgets are under severe pressure and there is a responsibility on all suppliers of Agents to recognise this and react accordingly.
As GMG Property Services is the largest supplier of technical solutions to agents in the UK we are able to ride out the peaks and troughs of the market and in the tough times help our customers. This has made us the market leader for 25 years.
We would expect to continue to offer new and exciting functionality moving forwards. Much of this will be offered FREE to GMG Property Services customers, however there is a possibility that Non GMG Property Services customers will need to pay for this at some point moving forward”.
Mark Goddard, managing director of thinkproperty’s parent company GMG Property Services Group, was quoted on Estate Agent Today as saying: “Our free advertising model has shaken up the market and now agents have a credible alternative to the top two property portals who are charging agents an extortionate amount during this difficult trading period.”
The change to free-to-list seems to be boosting the portal’s appeal. According to the report in Estate Agent Today, thinkproperty.com has signed up over 1,000 new branches including several major property agency groups who have all joined since the portal changed its advertising model. thinkproperty.com says it now lists over 350,000 properties from 6,400 agents.
thinkproperty.com joins the growing number of free-to-list portals and property search engines in the UK like globrix.com, dothomes.co.uk, propertylive.co.uk and zoomf.com.
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