All eyes on PropertyFinder.
REA Group, owners of PropertyFinder are apparently courting the idea of closing PropertyFinder.
On the back of this news, there are various reports which suggest a management buyout is being considered.
So what will happen? If a management buyout goes ahead we could see the first major portal to switch from a subscription based model to a performance based model. Indeed, why Zoopla have not snapped up PropertyFinder just to eradicate them from the picture is a little puzzling.
I see this as a huge opportunity for a new team at PropertyFinder and I hope they manage to get it together for the deadline, which appears to be the end of June. Bang goes their summer holiday!!
By the way, I would like to point out that rumours regarding the Property Owl Blog being sold for two million are exaggerated.