Trade Me right to retreat over listing fees: broker

Trade Me's backdown in pricing for real estate agents was strategically the right move, Craigs Investment Partners broker Chris Timms said yesterday.

Trade Me has added a monthly listing subscription fee option for realtors after some agents baulked at the online auction site's move to pay-per-listing fees.

The $1399 monthly subscription offer for Auckland, Wellington and Christchurch-based listings, and $999 for elsewhere, came after some real estate agents boycotted the listed Wellington-based company's move to a $159 pay-per-listing charge last year.

Businesses that stick with the pay-per-listing model will pay only $99 if the house is valued below $450,000.

Mr Timms said most agent offices would be better off with the ''all you can eat'' plan, encouraging agents to place all their listings on Trade Me.

''We expect Trade Me's listing volumes to recover over the balance of 2015, which will offset weaker yield.''

Craigs' target price for Trade Me shares remained unchanged at $4. The key risks were execution and competition, he said.

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