DN has previously reported on how Hemnet is losing ground, as more and more homes are sold outside the platform. Now the company is taking measures to reverse that trend. The workforce is to be reduced from 184 to approximately 115 employees - among other things with the help of AI - which is expected to provide annual savings of just over SEK 80 million.
- By December 2025, approximately 20 percent of our code was generated using AI. Now that figure is approaching 90 percent. It creates efficiency in a completely different way, says Hemnet CEO Jonas Gustafsson and adds:
- Then it is an extremely tough decision to leave to the organization. Many of the employees concerned have been here for a long time and have been very central.
Hemnet is also making major changes to its range. The company, which has been heavily criticized for rampant advertising prices, is now launching two free packages. Similar to its competitor Booli, Hemnet will in future automatically collect all objects that are published on the brokers' websites.
- In order to maintain our relevance as a marketplace, it is important to be a gathering point where all housing advertisements can be found. The premarket is something that Hemnet has not prioritized historically, but which has become increasingly important. Now we are taking action to get to it, says Jonas Gustafsson.
The number of paid advertising packages is reduced from four to three, where the functions of the plus package are incorporated into the basic package without increasing the cost of the latter. However, the most expensive packages will retain the same price level as before.
If you can advertise for free on Hemnet in the future, why would you want to pay?
- The paid packages will contain a significantly better range, more images and more information. You reach more buyers and speculators with them.
The major change in course that is now being made takes place in the wake of new major owners stepping into Hemnet during the summer. The new initiatives are supported by MĂ€klarsamfundet, which owns 10 percent of the company.
- We take a positive view of trying to develop the product. It is something that the realtors have pointed out for a long time and that has been in demand by the housing market in general, says Oskar Ăholm, CEO of the MĂ€klarsamfundet.
Marcus Svanberg, CEO of LÀnsförsÀkringar real estate brokerage and chairman of competitor Boneo, has previously directed harsh criticism at Hemnet's price increases. He sees today's announcement as a response to the increasingly tough fight for customers.
- There is a certain desperation when you try so thoroughly to change your business model with two free options. In that case, why should the paid ads be so much more expensive? It will be interesting to see how this is received by the market, he says.
He also sees the fact that Hemnet will imitate Booli's model with so-called scraping of advertisements from the brokers' websites as controversial.
- They are copying a scheme that has been highly criticized by the estate agency industry, that is, taking content from our websites without us being able to influence the timing and design, says Marcus Svanberg.
Hemnet defends the measure by saying that it is now an industry practice that several players already engage in.
- The development has gone there and our externally aggregated ads will contain very limited information. For me, it is an industry issue rather than a Hemnet-specific issue, says Jonas Gustafsson.
Another piece of news is that Hemnet is changing its compensation model to brokerage offices, which has been strongly questioned. In the past, brokerage firms have received more compensation the more expensive advertising packages they sell to their clients. That model is now to be replaced by a new compensation per package sold, where a ceiling is also introduced.
- The previous compensation model was more adapted to drive conversion to larger packages. Now we focus on getting more paid ads, says Jonas Gustafsson.
He also points out that the Real Estate Agency, FMI, has put their commissions under scrutiny as part of a larger survey of potentially trust-shattering activities.
- Now we are trying to address their approach and create a more sustainable model that is in line with their directives.
Hemnet shares rose on Tuesday but still have lost more than 70 percent of their value in a year.
