This latest move by Stayz has that same destructive grab and run feel about it. Sort of reminiscent of RealEstate.com.au all over again.
When Stayz acquired Yesbookit late last year, there was much concern from the YBI users around the country on just how it would affect them.
Well now they know…
Over the past couple of weeks Stayz, (trading as Yesbookit ) has rolled out its new Client Services and Distribution Agreement (These have been removed for legal reasons)
Some quite incredible terms and conditions here, including the requirement that if you leave the Stayz/YBI fold, you have to hand back all documentation including the agreement!
That might be unusual, but have a look at this requirement:
“This Agreement will continue at least for the Initial Term. You may give us notice at least 28 days prior to the expiration of your Initial Term that you would like your subscription to terminate upon the expiration of the Initial Term. If you do not give us such notice, the Agreement will automatically renew for a further term of 12 months and the new Service Charges and Support Charges (as notified to you) will apply for that period”.
I have spoken with several YBI users during this past week. Already, some have been shut down/turned off because of non compliance, and many feel that they have been “bullied” into signing this agreement by Yesbookit. Of course, if it’s not signed it can be automatically invoked or, if they please, revoked.
Another significant element of the agreement is that Yesbookit users’ only option now in working with Stayz is to cop the 8.5% + GST charge for each and every booking.
All they need to wait for now is the gradual increase of fees, a change that Stayz will be a mandatory part of the product integrated into the offering with no way for the users to defy the current honesty system which I am certain the bean counters at Fairfax would be very pleased to eliminate.
Disclaimer: Glenn Smith owns and operates GENKAN Property Management Software which competes with Yesbookit
4 Comments
Glenn Rogers
Someone wrote an article on here a while ago about how the accommodation portals in the USA first took all the good search engine positions then they could charge what they liked ……….and they did.
Sound familiar ?
Good business though but no different to REA and Domain but at least they compete, I’m not sure if there is a real competitor for Stayz.
Ryan O'Grady
I spoke to YesBookit in relation to this article and they provided me with the following response:
YesBookit is an independently operated business unit within Fairfax.
As part of ongoing YesBookit product and service improvements the agreements were updated for clarity, simplicity and to enable future products and services to be offered. Customers were consulted in the redrafting and update of the Client Service and Distribution Agreements. Two customers provided critical feedback which was addressed, other customers provided positive feedback and all customers accepted the agreement. All customers were retained and no customers were lost or sought termination as a result of the update to agreements.
Fairfax is significantly investing in the YesBookit application, partnerships as well as extending the training and support.
YesBookit customers have the choice to connect to all or none a range of distribution partner portals including HomeAway, Wotif and Rentahome and BookitNow as well as Stayz. There are a range of commission pricing options with distribution partners which range from no cost to the agent to no cost to the consumer.
Glenn Smith
Ryan I suppose time will reveal all.
Paul D
And along comes Airbnb.com This website will shoot many holes in the online holiday marketing sector. It is aimed at private rentals and I guess, as Glenn S has just said, time WILL reveal all.