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Trade Me Property bumps up fees

Published: 11:55AM Tuesday February 19, 2013 Source: ONE News

Trade Me has increased the fee it charges users to list properties on its website.

The online marketplace previously charged a flat fee of $299 to list either a residential property for sale or a commercial property for lease.

As of yesterday, Trade Me has introduced a tiered listing structure, which bases fees on the value of a property.

To list a residential, rural or lifestyle property for sale with a Rateable Value (RV) under $450,000 it will now cost $349. This fee will also apply to all retirement village listings, regardless of RV, says Trade Me.

And to list a residential, rural or lifestyle property with a RV over $450,000, it will now cost $399.

This fee will also apply to for sale listings without an RV and commercial property listings, until sold or leased.

Trade Me does not charge success fees on its property listings.

The company is also increasing the prices it charges users to "promote" their listing.

For instance, the cost to "feature" a property on the Trade Me property home page has increased from $69 to $99.

Further, Trade Me has also raised the fee it charges to list a rental property.

Although the fee to list a rental property with an asking rent of under $400 per week will remain unchanged at $99, the fee to list a rental property with an asking rent between $400 and $799 per week will now increase to $129.

One user, who wished to remain anonymous, told ONE News that Trade Me "works on the basis of flying under the radar with a lot of these increases".

"Because it's not every week that you sell something on Trade Me," they said.

In September last year, Trade Me increased the "success fees" it charges users selling general items by around 5%.

This means that the fee for selling an item valued at $50 - about its average trade - has risen from $3.75 to $3.95, an increase of 5.3%.

The highest rise would be for items priced at $1500, for which success fees will increase by 8.1% to $79.50.

However, there were no changes made to the maximum $149 success fee for selling general items.

Trade Me Motor listing fees last increased in March 2012, when the cost to sell a vehicle via a classified increased by $10 per listing.

Specifically, the price it charged to advertise a car with an asking price of under $1000 changed from $29 to $39.

Not long before the listing increase began, Fairfax announced that it would be selling its 51% stake in the company.

The sale was completed in December, and the media company no longer has any further business connections.

Trade Me shares opened at $4.39 this morning.