Potentially hidden gem, page-329

Woschnak says the larger portals only accept rental listings from licensed real estate agents, forcing the vast majority of private landlords to fall back to traditional media such as newspapers.
“This is the segment of the market that we are trying to transition from offline to our portal. We are also trying to provide products and services for renters to make the whole process easier for them,” he says.

The portal currently boasts 55,000 property listings and claims 230,000 unique visitors monthly. It earns revenue through the listing fee, and has also introduced products and services that can start generating additional revenue. These include an interest-free facility to spread rental bond payments over three to six months, and rental statistics reports available to both renters and landlords for a fee.

“We are ready to take the next step. That means a lot of branding, driving more traffic, generating more listings and providing a greater depth of services. All this needs a substantial step-up in capital support,” Woschnak says.
Chief financial officer Jan Ferreira, who came on board last year, says the company’s priority is to drive the website traffic to 500,000 visitors monthly within the next year. That will help unlock a lot of commercial benefits for the company — including volume of inquiries and premium advertising rates.

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