Existing search portals are media companies whose purpose is property advertising. Their revenue is based on ever-increasing fees to agents. Their justification is site analytics - like dwell time or number of page views – which mean nothing to agents who only make money when a property sells.
Our approach is radically different. We are a transactional portal and our purpose is to help people move home. Like agents, we only make money when a property transacts. So instead of targeting browsers, we target home movers. We are not interested in having a high number of page views or long dwell time, we just want to get buyers to the right property or agent, as efficiently as possible.
Can you imagine any of the existing search portals cutting all of its existing revenue and switching to a ‘no sale no fee’ approach? No, neither can we.