Funda shakes up its fees, will let sellers advertise directly

Real estate website Funda is raising its prices, and some deals will cost estate agents and other sellers more than twice as much as they do now, the Financieele Dagblad said on Thursday.

A basic listing will still be free, but currently 80% of homes offered for sale via the website have been boosted to a better position or have added extras such as a video – all of which cost money.

In particular, consumers want more information about the costs, Funda strategist Evelien Emondts told the paper. “The cost of using Funda is not always clearly marked on the invoices they receive [from their estate agent].”

Currently, only estate agents can place adverts on the website, but from September sellers will also be able to choose the advertising package they want and pay Funda directly, bypassing their agent.

Not all estate agents are happy about the changes, the FD said. “If you let clients pay themselves, then estate agents may have to revise their own fees,” Floris van der Peijl, chairman of the Amsterdam agents’ association MVA, told the paper.

Others fear estate agents could be cut out of the sales process altogether, the paper said.

Funda made a net profit of €34 million on turnover of €73 million last year and is the undisputed Dutch market leader. Real estate association NVM, which claims to control around 50% of the real estate agent market, is a major shareholder.

The current premium package costs an NVM estate agent €235, but this will rise to €536 for the “gold” package under the new system. Non-members will pay higher fees.