Some blog worthy news today comes fresh from Facebook, and that is the news that a property application has been launched on the social network. It is intended for selling, buying and renting property, and is simply called Property Place.

Having launched today the app has over 400,000 properties listed. Facebook obviously built up an extensive database of properties across the different markets before putting the app live.

Cost Saving

Property Place will allow users to advertise property that is for rent or for sale and is a means by which to cut out expensive estate and letting agent fees. It seems Facebook’s people in charge are aiming to create a platform whereby the average internet user can do almost everything they want via Facebook.

It must be said that this new venture from Facebook demonstrates some very clever, innovative thinking. They’ve found one of the most stressful tasks that people are faced with, moving home, and created an app on their site in order to simplify things and save property hunters time and stress.

Through Facebook viewings can be arranged either by the user themselves, or via a Property Place partner, Emoov, the online estate agency, as they can handle the logistics and management for a fee of £295. This is still at a fraction of the cost of a high street agent and so will save users thousands. With such big savings, more people may be encouraged to invest in more comprehensive property insurance, rather than just paying for the bare minimum.

Big Fans Already

Just one of the many people already familiar with the app is Jack Eddowes, from Leeds. He uses Property Place to let out his Sheffield student properties, and he has been commenting: “Typically students spend more time on Facebook than any other website so it makes sense to market my properties with Property Place on Facebook. It’s far more convenient for me and prospective tenants to communicate.”

The founder of Property Place has confidently gone as far as stating: “It’s the future of buying and renting property!” Is it now a case of move over Rightmove and Zoopla, Facebook is now making a very big splash in your relatively small pool? Or will people stick to using the more established online property portals, or alternatively, a good old fashioned estate agent and/or letting agent?