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Propertyzote scraps charging agents

Real estate agents throughout East Africa will for the next six months enjoy listing of properties at no fee with Propertyzote.com.

Announcing the move at the propertyzote Australian office, Founder and CEO Mr.Ferdinand Kaptich said the move by the company comes at a time when the stipulated growth of agents listing have been achieved two months before the 1st anniversary since the official launch of the site last September. "We at Propertyzote.com are happy to begin our new financial year with a surprise to our existing and new agents as well as private users who will from July 1st 2011 list property for free". Propertyzote previously charged agents approximately Ksh100 per property to list. The average cost to list property online range from as low as Kshs 100 to as high as Kshs 1,000 per property per month. "The move to have agents list for free is an appreciation of the trust they have on propertyzote. The site that went online in 2007 hosts properties valued at Kshs 45 billion". Its half year reports show estate agents growth of 18% i.e. 670 (previously 568). This change will affect its 670 real estate agents and private users. It take effect immediately and will last at least until 1st of January 2012.

Propertyzote.com acknowledges that""the East African market is not yet ready to sustain revenue of dotcom business from its mainstream use of its platform. We also believe that the suspension will encourage small medium enterprises and sellers to shift from traditional print media to reliance of Internet advertising" says Mr.Kaptich. Although dotcoms are experiencing enormous growth, Propertyzote has taken into account that most advertisers are still largely dependent upon traditional media of newspapers, radio and T.V. It has also taken into account the tough economic times due to the unstable market caused by global financial crisis.  

Propertyzote.com is however confident that reliance on traditional media will change in the near future into the online era. Propertyzote.com intends to shift its focus on growing channels such as use its "wanted link", banner advertising and its online accommodation website Hotelzote.com as a source of revenue. We hope this is welcome news to all.

Kind regards
Propertyzote.com team.
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