Property portal merger slammed by agents worried about fees

The merger of Northern Ireland’s top two property portal providers has come under fire from estate agents, who warn it will lead to higher listing prices.

Local agents are actively considering a formal complaint to the Competition and Markets Authority about the move, the BBC has reported.

Under the deal, both the PropertyPal and Propertynews brands will continue to operate as distinct websites, but under common management.

PropertyPal CEO Jordan Buchanan claims the merger “will deliver more efficient, cost-effective, and user-friendly platforms” and improve services for agents.

But Belfast agent Elaine Pooler says the move will effectively create a monopoly. “They now have a free rein to do whatever they like with their prices,” she told the BBC.

“Those prices get passed onto to our clients who are the people selling their houses.”

Agents withdrew listings

In February this year, a number of estate agents withdrew their listings from the PropertyPal portal in a dispute over pricing, though the dispute was resolved in July.

A challenger portal, HomesNI, is set to be launched in September. The platform has been set up by Stephen Cousins, founder of web design firm BlueCubes, who claims he is already working with more than 60 estate agency groups in Northern Ireland.

PropertyPal’s Buchanan said in a statement: “Our commitment to innovation and customer satisfaction remains at the core of everything we do, and I am confident that this merger will drive forward our vision of providing exceptional service and support to the Northern Ireland property market.

“We look forward to working closely with our agents and stakeholders during this exciting transition and beyond.”

Milestone

GCD Technologies, former owner of Propertynews, becomes a shareholder of the parent company, PropertyPal Ltd, and GCD managing director Andrew Gough will join PropertyPal’s board of directors.

Emma McNally, commercial director at Propertynews, will step into the role of chief operating officer at PropertyPal.

“This is a significant milestone for both websites,” said McNally. “Through a united approach, we will strengthen our offerings to drive growth and innovation. By combining our technical, commercial, and sector expertise, we will deliver a best-in-class user experience and create additional value for our customers.”