OLX has entered in to a partnership with its affiliate, Property 24, that will see real estate agents using the platform for the first time get a bundled discount if they place their adverts on both platforms. This comes at a time when both platforms are monetizing and are looking to tap in to the demand for real estate dealers wanting to have more online visibility for their properties.
The bundled discount package will have new users wishing to post their properties both on OLX and Property 24 enjoy a 50% discount on Real estate paid adverts and Property 24 featured listings for one and three months’ package. They will be required to open an account on both sites to enjoy the package. A paid advert on OLX otherwise known as Top Ads currently costs Kshs 10,500 a month while Property 24 monthly subscriptions goes for Kshs 3,480.
(TOP: Priscilla Muhiu, OLX Kenya’s Head of Business Development assists a realtor, Patrick Mwongera (C) post a sample property on OLX together with Property 24 MD Kevin Jagona).
While announcing the partnership, Priscilla Muhiu, OLX Head of Business Development, said the partnership seeks to encourage users who wish to have more visibility for various properties post items on both platforms at cheaper rates.
“Online platforms have become common among realtors. Majority of them are seeking very high visibility for their adverts and by partnering with Property 24, we are increasing eyeballs for their properties giving them higher chances of selling. Real estate is among our strongest category. We are however leveraging on each other’s site to ensure customers get high visibility by getting paid adverts and featured listings while appearing on both platforms,” said Ms Muhiu.
Kevin Jagon, MD, Property 24, pointed out that most real estate agents and owners are increasingly shifting to online platforms to sell their properties.
“Buyers looking to buy land, apartments and homes are now searching online platforms first and this in turn dictates channels sellers are using to push properties, preferably online sites. The Real Estate market is maturing faster in using online platforms to sell and it is for this reason we are working to give them more visibility by using both OLX and Property 24 in tandem,” said Jagona.
Property 24 is the largest real estate platform with both local and diaspora users using the site to sell property. They are present in 8 countries including Kenya, Nigeria and South Africa. OLX is the largest online classifieds with real estate being a top category on their platform. Both companies are owned by Naspers.
OLX recently brought together car dealers in a bid to promote their top adverts option siting the vehicle and real estate categories as their strongest.
OLX is an internet-based classifieds platform owned by OLX BV with operations in over 40 countries. The Naspers group owns OLX BV, the 5th biggest media company in the world.
OLX’s principle service is to connect Buyers and Sellers. The online platform has been operational in Kenya since August 2012 when it started operations with 500 products being listed per day. The success of the ‘OLX Sell it Show’ has OLX receiving almost 9,000 listings of items to be sold on a daily basis. OLX is now one of the most popular local online marketplaces in Kenya receiving over 150,000 visitors on a daily basis.
Property24.co.ke is Kenya-based property search portal covering 8 countries in Africa. The portal lists houses, flats, vacant land and farms from all of Kenya’s estate agents.