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OfficeBroker Changing to a Subscription Model

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OfficeBroker.com, one of the top 3 executive suite web brokers, has recently announced that they are changing from a commisson based model to a subscription model. According to an email received by one of our Executive Suite members:

"In January 2012 officebroker.com will be changing the way in which it markets office space, removing the commission structure and replacing it with a simple monthly subscription for listing your office building(s) on our website.

This new subscription model will result in your direct contact details being added to officebroker.com. Instead of charging a commission, you will instead pay just $75 per building location listed per month.

Summary of Changes:

·     Client will be able to contact YOU directly from our website!!  Your contact details will be added to each of your building locations listed on officebroker.com enabling you to get their details before your competitors would!

·     Additionally, any inquiries officebroker.com receive will still be forwarded to you but with no commission payable should you close a sale

·      A simple monthly fee of only $75 per building listed per month to be charged from January 1st 2012

Best of all you don’t need to do anything to benefit from this change!  Your listings will be updated automatically from January 1st 2012. "

This is specific to the US. I am not sure how they are handling other markets. It will be interesting to see how well this is accepted by executive suite office space operators. OfficeBroker does have a good track record in providing leads to centers, but I would image only the ones in which have had success with their leads will subscribe.  The smaller centers will probably not see the benefit.  The next question will be whether or not they remove the listings for the properties that do not subscribe or use them as bait for those who do. Another alternative may be that they will keep the non-subscribers on a commission basis.  We will have to wait to see.

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2 responses to “OfficeBroker Changing to a Subscription Model”

  1. A Says:
    That will be a tough sell. The approach of getting billed unless you opt out doesn't help
  2. Exec Suite Pro Says:
    Interesting move… sort of redefines them as nothing but a search directory. Those haven’t had much (if any success) in our industry in the past, but if they generate enough traffic then they people will pay. The issue is, that a great majority of the business goes to the major markets, so, NYC, LA, etc., may pay, but the secondary markets won’t… and that means that the inventory will go down… which will bring them less business…..etc., etc., death spiral potential.

    I wonder what Regus is paying (if at all) per center? Certainly not $75; unless they calculate that it is less than their monthly commissions. It could be that the net @ $75 for 2000 Centers is greater than the net from brokerage after operating costs, as now all they have to do is manage their web costs and a very simple billing dept.

    I guess we’ll just have to watch and see