The auction site eBay has started to list properties after testing the new category over several weeks. A full launch is expected later this year but yesterday, browsers could already search for over 77,000 properties in the UK and a similar number overseas.
It is understood that eBay, which has nearly 20 million monthly unique users, has done a deal with a UK portal partner, believed to be the pay-per-lead site launched last autumn, PropertyIndex.
It is understood that contractual obligations prevent either eBay or Property Index from commenting, but that the deal is a revenue share arrangement.
Agents may have mixed feelings about the emergence of eBay as a contender in the property portal market. Although the eBay audience is huge – eBay is the fourth largest website in the UK – and represents a massive marketing opportunity, the site will also allow private individuals.
It is also believed that the site may not be particularly cheap to use, although full details have not been confirmed.
However, it is understood that agents can choose to advertise properties to auction or to list in classified fashion. It is believed both options will cost £35 per property. Listings will include one photograph, but other pictures can be used at an additional 12 pence each. Auction properties will stay on the site for 10 days, and listed properties for 28 days.
eBay already has property sections in its Germany, France and Ireland sites. It is understood that the site – which spawned a new generation of business people and created eBay millionaires – sees property as one of its largest opportunities.