Hemnet: Broker Economics & Booli’s Lead Generation

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You said at the beginning that some houses might take up to a year to sell. And others, in the city center, take a shorter time. Can you elaborate on the decision-making process for how long to keep a property on Booli versus Hemnet? You mentioned that when consumers are sure they might sell, it might get to Hemnet. How is that decision made? For example, if a property has low demand, do you keep it on Booli for six months versus another? How does the decision-making process for keeping it off-market work?

It depends a lot on the seller's situation and how eager they are to sell. Usually, if they're looking to sell their property at a specific price, we put the ad on Booli to gauge interest. If prospects aren't calling and we notice it's completely dead with no buyers at the asking price, I inform the seller that we probably won't get that price. We discuss whether to lower the price, put the ad on Hemnet, proceed with the selling process, or pause and hope for a better market. Typically, we start by listing it on Booli for a few weeks or months, then proceed to Hemnet.

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Have you changed your view on Booli? Previously, it was less used, and now you're increasingly using it.

Booli doesn't require us to post listings directly. When we put an ad on our website, Booli takes it automatically. We don't list directly on Booli, but we've noticed a significant increase in buyers asking about properties on Booli. They often say they saw it on Booli. We've been using Booli more because it provides all listings. Hemnet only shows listings where the seller has purchased an ad. I think the value of Booli is that buyers can find everything. However, there's still a difference because some buyers haven't learned about Booli yet. Hemnet is a way to advertise to everyone, but Booli captures the majority of the market. My take on Booli is positive; the seller doesn't have to pay for it. However, I feel Hemnet offers better features, and its brand is more valuable than Booli because not everyone knows Booli yet, which is a factor that separates them.

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Do you place many homes off-market or for sale often on Booli, and if so, for how many days?

Yes, I would say maybe 60% to 70% of my listings always start on Booli. If I don't get any interest within the first couple of weeks, I usually recommend the seller to put it out on Hemnet.

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