Trade Me Group's main rival for property listings, industry-owned realestate.co.nz, doesn't expect its "dominance" in the market to be affected by New Zealand's largest auction company cutting its fees for agents.
Wellington-based Trade Me lost market share of property listings since it tried to push through price hikes to agents starting late last year, according to a report by Craigs Investment Partners analyst Stephen Ridgewell, which showed Trade Me had 45,978 properties listed compared with its rival's 54,874 properties.
However Ridgewell said Trade Me's market share should recover after it agreed to back down on the plan this week.
Read also:
• Trade Me back down on fees may lure back real estate listings
But realestate.co.nz chief executive Brendon Skipper, who headed up Trade Me's property unit for seven years before taking up a job with its rival in October, said the industry-owned website didn't expect to be affected by "any desperate fee cutting" by its competitor.
