A leading coalition of real estate agents has ceased posting properties on the PropertyPal website, due to a disagreement involving fees.
The decision to withdraw listings came unexpectedly last night, following PropertyPal’s announcement of a revised fee structure for its listings.
PropertyPal, the premier website for property sales and rentals in Northern Ireland, claims the fee increase will bring improved value and services.
Errol Maxwell, the CEO of PropertyPal, stated to BBC News NI that their pricing remains the most competitive compared to any other property portal in the UK and Ireland.
A group overseeing the interests of various real estate agents in Northern Ireland conveyed their plan to halt listings in a letter.
Speaking for the group, Stephen McCarron, a Londonderry-based estate agent, described feelings of being pressured and harassed by the fee changes.
He noted that the new pricing could lead to a substantial 25-45% increase in costs per listing for agents on the PropertyPal platform.
The steering committee includes major property businesses in Northern Ireland such as CPS, Simon Brien, UPS, Reeds Rains, and Donnybrook.
The real estate agents expressed their urgent need to take severe measures in their letter.
Their letter stated, “Consequently, we must inform you of our united resolution to halt all new listings on the PropertyPal platform starting from midnight Thursday, the 29th of February, until we issue further notice.”
McCarron voiced concerns that PropertyPal was leveraging its dominant market position to make agents agree to their terms.
Maxwell highlighted that PropertyPal’s new membership scheme permits agents to promote all their listings at around £20 each, along with offering them a set of innovative tools to support their operations.
He added that the majority of agents have accepted the new model positively, appreciating the added value to their partnership with PropertyPal.
The new proposed pricing model is understood to transition from a fixed fee per listing to a tiered membership system.
McCarron mentioned that any additional expenses would inevitably be passed on to their clients, which he argues is especially unfair to the consumers.
He also criticized the lack of consultation with the agents regarding the changes, as well as the refusal to engage with their steering group or address their significant concerns.
