A group of estate agents have said they will stop posting lets on the north’s largest property website over concerns new fees could see them paying 25-45% more per listing.
The steering group, made up some of the largest property retailers in the north such as UPS, Reeds Rains and Simon Brien, have hit out after the PropertyPal site made changes to fees in order to deliver “enhanced value and service”.
They said in a letter that they feel pushed to take “drastic action” and said they would collectively cease placing new listings on the website from midnight on Friday morning.
Details of the letter were reported by BBC NI, and Derry estate agent Stephen McCarron said the group felt PropertyPal were using their “dominate market position” in forcing the acceptance of fee terms. He said the website did not meet with the steering group “or acknowledge the very real concerns that we have”.
Mr McCarron warned that estate agents would be forced to pass on costs to clients.
PropertyPal claims to host around 60,000 properties for sale and rent in both the north and the Republic.
However, PropertyPal chief executive officer Errol Maxwell said in a statement that the company “takes pride in offering the most competitive pricing of any property portal in the UK and Ireland”.
He said a new membership plan “allows estate agents to advertise all their properties for an average of £20 per listing and provides them with a powerful suite of new tools to support their business”.
“We’re delighted that the majority of estate agents have embraced the change and recognise the significant value it brings to their partnership with us,” he said.
