Friday 1st August 2014
|Text too small?|
Trade Me Group's main rival for property listings, industry-owned realestate.co.nz, doesn't expect its "dominance" in the market to be affected by New Zealand's largest auction company cutting its fees for agents.
Wellington-based Trade Me lost market share of property listings since it tried to push through price hikes to agents starting late last year, according to a report by Craigs Investment Partners analyst Stephen Ridgewell, which showed Trade Me had 45,978 properties listed compared with its rival's 54,874 properties. However Ridgewell said Trade Me's market share should recover after it agreed to back down on the plan this week.
But realestate.co.nz chief executive Brendon Skipper, who headed up Trade Me's property unit for seven years before taking up a job with its rival in October, said the industry-owned website didn't expect to be affected by "any desperate fee cutting" by its competitor.
"Realestate.co.nz will continue to offer a low subscription price, which is around one quarter of the new rates being charged by Trade Me," Skipper said.
Shares in Trade Me slipped 0.3 percent to $3.47, having dropped 14 percent this year.
No comments yet
Steel & Tube Fy20 Trading Update
Further Contract Win Strengthens Scott Technology’s Position In Mining Sector
China’s Assertiveness Is Becoming a Problem for Its Friends, Too
New Talisman - Chairman’s Address to AGM 2020 August 6, 2020
T&G reports its 2020 Interim Results
Gold price hits $2,000 for first time on Covid
TruScreen strengthens its market presence in central and eastern Europe
Refining NZ announces non-cash impairment
Ryman Healthcare COVID-19 update Victoria
Talisman Quarterly Activities Report to 30 June 2020