Hemnet Group (OM:HEM) Is Up 5.4% After Unveiling “Sell First, Pay Later” Pricing Model – Has The Bull Case Changed?

• Hemnet Group AB has moved to counter rising competition from free and low-cost listing platforms by rolling out new initiatives, including a planned broad launch in early 2026 of a “sell first, pay later” model that lets home sellers pay only after a successful transaction.
• This shift toward outcome-based pricing marks a material change in how Hemnet seeks to defend its dominant Swedish residential property platform position and rebuild confidence among agents, sellers, and investors.
• We’ll now examine how Hemnet’s planned “sell first, pay later” model could reshape its investment narrative and long-term competitive position.

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Hemnet Group Investment Narrative Recap

To own Hemnet today, you need to believe its dominant Swedish housing platform can stay central to how homes are found and sold, even as free rivals nibble at the edges. The planned “sell first, pay later” model targets the biggest near term catalyst and risk at once: stabilizing agent and seller loyalty while testing a new pricing structure in a softer, more competitive market. Its ultimate financial impact remains uncertain.

Against that backdrop, Hemnet’s ongoing buyback program of up to 8,143,196 shares for SEK 600,000,000 stands out as especially relevant. Continued repurchases, alongside dividends, signal a willingness to return capital even as the business experiments with outcome based pricing, which may reassure some shareholders but also concentrates exposure to how well the new model lands with agents and sellers.

But for investors, the real concern is what happens if listing volumes stay weak while free competitors keep gaining ground...

Read the full narrative on Hemnet Group (it's free!)

Hemnet Group's narrative projects SEK2.6 billion revenue and SEK1.1 billion earnings by 2028. This requires 19.0% yearly revenue growth and an earnings increase of about SEK0.6 billion from SEK548.2 million today.

Uncover how Hemnet Group's forecasts yield a SEK281.82 fair value, a 57% upside to its current price.

Exploring Other Perspectives

Five fair value estimates from the Simply Wall St Community span roughly SEK 230 to SEK 426 per share, underscoring how far apart individual views can be. When you set those side by side with the risk of structurally lower Swedish housing turnover, it becomes clear why many investors are rethinking how resilient Hemnet’s earnings might be over time.

Explore 5 other fair value estimates on Hemnet Group - why the stock might be worth over 2x more than the current price!

Build Your Own Hemnet Group Narrative

Disagree with existing narratives? Create your own in under 3 minutes - extraordinary investment returns rarely come from following the herd.

• A great starting point for your Hemnet Group research is our analysis highlighting 3 key rewards that could impact your investment decision.
• Our free Hemnet Group research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate Hemnet Group's overall financial health at a glance.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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