Words: Ashley Rigg
Published: 4th September 2008
NAEA defends international portal plans
NAEA chief executive, Peter Bolton King has defended their plans to launch an international portal after stinging criticism from
Simon Baker.
In an interview with Globaledge.co.uk, the former REA Group CEO said the NAEA portal was a “complete waste of time” and had virtually no chance of challenging the established players in the UK portal market.
The NAEA backed portal, Propertylive.co.uk goes live later this month and “will only comprise firms from a regulated body…which gives it a unique point of difference and a strong position to communicate to consumers,” says Bolton King.
Although the portal will initially only focus on the UK market, there are plans to open it up to international property early in the New Year. Only agents and developers that are members of the NAEA or other overseas agency associations that they have agreements with will be allowed to list property.
Member associations will have to prove that “they have the required standards of entry and have the systems in place to sort out complaints”. Currently any agent or developer that belongs to an association that is a member of the European Confederation of Real Estate Agents,
CEI will be able to join the portal.
Great idea but execution will be key
Given how difficult it is for consumers to know who to trust when buying property abroad, a portal compromising only regulated agents is a compelling proposition. The NAEA seem unafraid to “ban” offending agents (many leave before they are pushed, according to Bolton King) if
this forum post is anything to go by.
The key to long-term success will be ensuring consistent treatment of agents across all associations and, even more importantly, communicating their position of authority to consumers. It’s a crowded market and success will require a clever and single-minded approach to marketing, PR and link building.
Simon Baker however is sceptical the NAEA can deliver. On his blog he says: “The challenge is that most industry bodies find it difficult to make the tough decisions and don’t have access to the funds. They often start with the right objectives but fail to achieve their goals.”
Upcoming battle with MRI?
OPP reported recently that the
MRI had quit the NAEA after casting doubt on their impartiality and the “handling of its disciplinary hearing structure for its members”. Bolton King told Globaledge.co.uk that he is aware of the “various comments” made by Dominic Pickering, MRI’s Chief Operating Officer, and that he was “trying very hard to avoid making a statement”.
It could get interesting…….
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