OLX and Property 24, both Naspers’ backed Internet firms have partnered to help each other sign up new property advertisers as they move towards monetisation.
The new promo will see real estate agents using Property24 for the first time get a bundled discount if they place their adverts on both platforms.
The bundled discount package will have new users wishing to post their properties both on OLX and Property 24 enjoy a 50% discount on Real estate paid adverts and Property 24 featured listings for one and three months’ package.
According to the firms, the new advertisers will be required to open an account on both sites to enjoy the package. A paid advert on OLX otherwise known as Top Ads currently costs ksh. 10, 500 a month while Property 24 monthly subscriptions goes for ksh. 3,480.
OLX Head of Business Development, Ms. Priscilla Muhiu said, “Online platforms have become common among realtors. Majority of them are seeking very high visibility for their adverts and by partnering with Property 24, we are increasing eyeballs for their properties giving them higher chances of selling.”
Though real estate is among OLX’s strongest category. Most of its advertisers in this category are fraudsters; the partnership will help OLX gain customer confidence by having real properties posted as well as help reduce fraud. Property24 which hasn’t gained much traction in the country will also help its advertisers properties get high visibility by having their properties on OLX.
Property 24 is the third largest real estate platform in Kenya after Jumia House and BuyRentKenya while OLX is the largest online classifieds in the country.
“The Real Estate market is maturing faster in using online platforms to sell and it is for this reason we are working to give them more visibility by using both OLX and Property 24 in tandem,” said Property 24 Managing Director, Kevin Jagona.