Property Place, a Facebook application that enables estate agents to advertise properties on the social networking site, has won new financial backing and appointed a heavyweight industry figure as its chairman.
Property Place, which launched earlier this year, has completed a round of venture capitalist funding with Finance Yorkshire.
This fresh capital has allowed the business to add new staff to its management team to help accelerate its growth, said founder Sohail Rashid.
The chairman is Dean Fielding, who was group financial director of LSL for eight years. He is joined by sales and operations director Yuseph Hedar, formerly CEO of Green Flag, and Alex Craven, digital director, who has founded two successful digital marketing agencies.
Rashid said: “I am really excited about our team and plans. All of them have excellent credentials and we will soon be introducing some exciting new improvements to the application.
“This new team will build upon Property Place’s current success, and continue to help sellers and estate agents in tough market conditions by more efficiently connecting them with the right buyers through our social media platform.”
Fielding said: “When I first looked at Property Place, I was instantly impressed with the business model. There is a real need in the market for an innovative service particularly for independent and regional estate agents.
“Property Place has the ability to change how independent agents market their properties and connect with new clients. We can offer something that no other traditional portal is able to.
“I’m looking forward to help shake up this sector and add some much-needed competition and innovation.”
The new funding will also be used for consumer marketing campaigns.
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Comments
Well said andy! I've signed up to it and it's not bad, not enough enquirers coming through it yet but I suppose that's what the money is coming in for!
We've got to support something like this for it to work otherwise we'll be paying another 300% to both RM and Digizoopla in 5 years time.
ahah these comments are hilarious!
its called technological advancement! there obviously must be some scope for it otherwise they wouldnt be throwing money at it?!
time for us estate agents to stop being the vintage old farts that we are portrayed (in many cases accurately!) to be and to get with the times!
you said; "So wrong on so many levels"
please would you explain why, that is my impression of Facebook too and so far no-one has be able to say how many properties have been exchanged and sold through the medium of Facebook.
So far this Facebook mularky has been supported by GMG uploading (without prior consent) property details obtained through their hosting of agent's data and now has the financial backing of a venture capitalist, so what gives? What are the sales revenues that has convinced business people to invest in this, to me, really stupid idea?
Is this a goer that every agent should be jumping into or is it Gold rush for Fools Gold?
Wardy! how sad posting support of yourself," sorry" would have made you look better, not good, but better.
I take it you love it puzzled, getting tagged in photos. The only businesses that achieve results are the likes of coca-cola, Nokia etc, not estate agents.
Paul D: 'Face book users are students and idiots who cant get enough of uploading photos of themselves and commenting on another sad gits photos.'
So wrong on so many levels.
Well said Wardy!
I must tell my 17 year old son about that, he is always on Facebook, what a load of tosh this app/site is.
Face book users are students and idiots who cant get enough of uploading photos of themselves and commenting on another sad gits photos. The other lot is about 50% of the UK, unemployed fat muppets sat at home scoffing a dominos, if they are not on Facebook they are on Farmville, which TBH is where they belong !!
Oh really? well you know what you can do without me explaining it then.
Wardy, unnecessary use of profanity on a public site, they hate you EA's enough without demonstrating such poor vocabulary.
£2.5 million on a Facebook app? Obviously they've not been following Facebook's IPO.
I wish I had £75k to pi$$ up the wall.
Mind you at least he has someone with a bit of sense doing his PR for him, no mention of private sellers or extortionate agency fee's
Bravo
Lucy, that'l be the interest on top of the orig £75k
According to the announcment on finance yorkshires own website its 2.5 million????
I know one of the Director's at Finance Yorkshire, and he confirm they have put £75k in.
Hardly £75m is it.
Another white elephant!