Estate Agents launch property website

| August 20, 2008 | 0 Comments
Estate Agents launch property website

The National Association of Estate Agents (NAEA) is launching a website that will allow its 10,000 members to advertise properties at no charge.

The site should be up and running in October and aims to bring solace to a profession that has been hard hit by the credit crisis.

It may also provide strong competition for Rightmove, which charges customers up to £495 a month to advertise houses and flats; although NAEA chief executive, Peter King, has stressed that his Association is responding to the needs of its members rather than attempting to compete with Rightmove.

However, if large numbers of estate agents choose to appear only on Property Live, thousands of pounds a year would be saved by businesses up and down the country.

Rightmove is currently recognised as the UK’s biggest property portal and claims to represent more than 90% of UK estate agents, with over one million homes advertised.

The company’s shares lost 14¼p yesterday, despite playing down news of the NAEA launch.

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