Real Estate: Immowelt attacks Immoscout - this is how the portal wants to catch up with the market leader
The competition between digital platforms for dominance is gaining momentum. Immowelt CEO Theo Mseka wants to gain market share with a new strategy - beyond pure payment models.
Nürnberg – Immowelt, the leading German real estate portal, is ramping up its efforts to challenge Immoscout, according to Theo Mseka, the company's CEO since last autumn. Speaking to the Handelsblatt, Mseka expressed the company's ambition to work on equal terms with estate agents and property providers. To achieve this, he stated that the management is currently overhauling the platform, which is part of the international AVIV group.
Mseka aimed to "address specific issues rather than merely increasing prices," explaining that the 44-year-old, born in Tanzania, previously led Turkey's market leader Hepsiemlak and with Private Property, one of South Africa's top real estate portals.
The unspoken target of this challenge is the market leader, DAX company Scout24, the parent company of Immoscout. In the past, Immoscout faced criticism for its pricing models for renters and continuous fee hikes for commercial providers like estate agents.
Written by urgent.news from Handelsblatt's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
