The first property transactions app on Facebook was due to go live first thing this morning, with over 400,000 properties.
Property Place can be used by both private sellers and landlords as well as by agents, and claims to be the first use of Facebook in the world for the selling and lettig of properties.
There is also a facility for people to find and chat to potential room-mates, for a £35 fee.
Almost half the population of the UK (29.9m) are now estimated to be on Facebook, so the theoretical audience is huge.
Property Place charges private consumers £75 to sell and £35 to let their properties for a month’s listings, but they can also choose to use Emoov, an online estate agent, to handle the logistics and management of the transaction for a fee of £295.
Agents can also use Property Place to market their properties. They will be charged £50 a month to list up to 15 properties, and £150 to list up to 150.
Sohail Rashid, founder of Property Place, who has acknowledged that inevitably there will be agents who do not like the idea of sharing a marketing platform with private sellers, said: “You can upload details of your property in minutes and manage the whole process in one place.
“With nearly 30 million of us using Facebook in the UK, it’s the future of buying and renting property.”
Property Place is also available to non-users of Facebook at www.property-place.net