Property Network has announced an exclusive partnership with Lettingweb, a Scottish lettings portal, extending its reach into the rental market as well as north of the border where Rightmove is said to have very little presence in the lettings sector.
The deal will see Property Network providing its social media solution to all of the Lettingweb’s member agents.
Sohail Rashid, chief executive of Property Network, said: “This is a great partnership that extends Property Network’s reach in the lettings market and allows Lettingweb’s member agents to leverage the power of social media when marketing properties.
“Property Network is growing rapidly because we are the first property network to connect agents with the social media generation. We have a proven model that we believe has the right mix of user-friendly functionality and commercial appeal.”
Lettingweb will also be sponsoring Scottish Community Pages, the new feature on Property Network.
Meanwhile, competitor Scottish portal CityLets has announced a tie-up with Media Scotland, the recently merged entity of Scottish & Universal Newspapers and Trinity Mirror in Scotland.
Citylets claims to have almost 90% market share of letting agents in Edinburgh, Dundee and Aberdeen, and says that around 80% are not subscribed to Rightmove.
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Comments
Why does everyone think that it was just Finance Yorkshire that invested in this business. Ingenious Media put in millions also!!
If you think that buying Twitter followers and playing a 12 days to XMas Facebook game is good social media then good luck to you.
I'm supportive of any tech based social media venture.
I want to know whether due dilligence was done on this proposal submited to Finance Yorkshire.
REALITY CHECK: Rightmove and Zoopla engage in all kinds of marketing, including social media, with properties, expertise, budgets and management that these lot can only dream about. If something pops up they didn't think of, they'll do it bigger and better than anyone else...end of.
my 3 year old niece could see this is a non starter. well done Finance Yorkshire....helping britain out of recession one deal at a time.
i've got a cracking idea...lets take on autotrader ...using social media, yeah!!!!!
I think Property Network as a Facebook app is better suited to lettings market. I can see this working for Letting Web
Portals in Scotland do not make any money, most agents in Scotland do not make any money; stupid legislation, missing deposits and small parochial portals with less annual turnover than Rightmove earn in a week! Portals need full UK exposure to have any chance and until technology changes to something we don’t yet understand, Rightmove will control the market. Lettingweb and Citylets are a sidehow.
Never had a problem with them TBH, pay my money, get my leads. Don't they have different laws in Scotland when it comes to letting and selling?
This company is going nowhere fast.
Stupid concept. No consumer advertising. Pushy sales people. Dead meat.
It is scandalous that Finance Yorkshire have used public funds. They will never get the money back.
A disgrace, but that's the public sector for you - it's. not. their. money.
I have to admit to being one of the idiots who got carried away with Property Network and paid them a full £100, was meant to be £150 but I managed to cancel the last DD in time. No leads, no help and loads of ads from non-paying agents. They don't even ring you back. Sohail, if you are reading these comments how about keeping a promise that you made twice by email to contact me, I am still waiting for a full explanation but I wont hold my breath.
http://www.bbc.co.uk/news/business-23326034
When does the public money for this venture run out? Perhaps we will get some peace then. Sohail- do you really think that shouting time and again each time you do something however minor will make a difference to your fait? This product achieves nothing.
Has any agent paid any money to this company? Please post full details here. When will annual accounts be filed?