Hemnet: Pre-Market Channels & Success-Based Model
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Both, if you can elaborate.
If we look at Malmö, for example, on Hemnet, we have 1,150 sold, and on Booli, almost 1,200. Overall, there are around 1,500 apartments in total because some apartments get sold before reaching Booli.
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So there are 66% more apartments on Booli.
Yes, exactly, 60% more on Booli. That's because Hemnet has started to raise the price of the ads. Over the last 10 years, it went from being free to around 600 SEK, then 800 SEK, and they started to raise it more. This week, a customer of mine paid 12,500 SEK to list an apartment on Hemnet. Approximately €1,250.
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So, with the things you sell on your website, is it considered pre-market as well?
Yes, it's pre-market. We call it something different, but it's essentially pre-market. Booli was also pre-market before. The issue now is that people don't want to pay for Hemnet, and Booli has become the market because the number of visitors to Booli now compared to before is vastly different. Booli's growth is mainly due to the high cost of Hemnet ads.
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