A new real estate website has promised to ban premium packages and to charge agents a single price, irrespective of suburb.
Buy Sell Lease, which is scheduled to go live within 12 weeks, will charge all agents a $5,500 annual subscription that doesn’t allow for a deluxe option.
Managing director Neaf Ziade told Residential Property Manager that searches will be randomised so that every property has an equal chance of appearing at the top of the rankings.
The portal will also give agencies a five-year price freeze from the moment they sign up, he said.
Mr Ziade said that Buy Sell Lease will maximise agencies’ branding by pulling content directly from their websites.
“Given the fact that it’s coming from their very own websites, there are no display ads, no banner ads – not even Buy Sell Lease appears on a search result,” he said.
That also means that agencies can attach an unlimited number of photos and videos to each property and keep their listings live for as long as they like, he said.
Mr Ziade said the model also provides a point of difference for consumers, because it allows them to get a more complete picture of the property and the agency.
“We're building a direct line of communication between consumers and real estate agents,” he said. “If I’m a consumer and I'm looking to find an agent to sell or lease my property, I can make an informed decision about who I want to come to my property to sell or lease it.
“I'm actually going through agents' websites in my area and reading their profiles, testimonials, past and current sales and leasing history.”
Mr Ziade said that while it would be difficult to compete with the established listings portals, Buy Sell Lease would build recognition through television, radio and outdoor advertising.
Buy Sell Lease's business model and methodology has been patented, according to Mr Ziade.