Not sure where to post this, for both Sales and Rentals Ads..... Some of you probably know that RE.com started to charge advertising since 1-10-19. We have been charged $30 per Ad, and this is on top of the Subscription (Queensland) 3 months down, it appears that their dominance has much reduced, and we are seeing more from other sites such as Domain and Rent.com. RE is probably around 40-60% now. What's your experience? Hope you can share.
I'm usually getting a call from a rep every renewal and I don't pay that much attention, there is no real choice as you need to be on re.com.au, I wish there were genuine alternatives but I haven't noticed their dominance waning. Domain would be a very good idea for sales but beyond these 2 I think unless they are free it's unlikely to be cost effective even assuming automation with the uploads (no extra time investment).
On a slight tangent I note all of the activity in the prop tech space. There is a lot going on here and a new company to consider every time I check it seems. As of 2019 they are all somewhat similar even though everyone is a disruptor (of course). I think a genuine disruption to at the minimum, real estate sales, has to happen in the 2020's, but it really hasn't happened yet which I find interesting and surprising. You have a few elements to consider, including a massive massive market space, genuine middle man models which are under pressure everywhere with tech and automation, big players (the biggest) getting into this space, will be interesting to see how it unfolds. I refer to the 1980's for anyone with enough age and hopefully wisdom to remember just what a grand job being a stock broker used to be, I see similar happening in real estate brokerage. With regards to advertising places for rent or sale I think this too just has to be brought back to reality as the margins are too juicy and the providers aren't selling physical products like other duopolies (woolies, coles for example)
What do your PMs charge for rental ads in RE and Domain? Recently our PM in NSW said both RE and Domain have increased their prices, and we would be charged $250 plus GST for the rental ad. Included in this price change the property listing will be upgraded to a feature listing on RE and a gold listing on Domain rather than a standard listing. What does this mean? Appreciate an explanation. Thanks.
I'd say Realestate.com is still about 70-80% of my enquiry. I'm on a good deal with them for my Ads at the moment, but their costs are still eye-watering- it's our single biggest expense after wages, which is ridiculous. Domain in QLD is a good deal, but they're similarly gouging down south where they have bigger market share.
Wow, that is really already very high and they are still not happy and impose this individual $30 per Ad. Hope you got their shares! Yeah, it's a pity Qld didnt take-up Domain like those Southern States....
I stand to be corrected from any agents, but I understood that Domain is really only a NSW thing. Vic like Qld is very heavily dominated by REA and is where you must be to be seen in Vic. Hence price gouging as have (almost) captive market. Worth noting for those interstaters searching in Vic.
Currently out of 10 enquiries we received, around 1-2 are from Domain. This is an increase compared to 0-1 in the past. Wonder whether anyone will poke RE to drop/waive/discount this in view of Covid? REAs had been badly affected with no physical inspections and video inspection and all that. Whilst Tenants scream for Rent Reduction, where is the Reductions for us PMs?
Domain has significantly reduced our advertising cost during the COVID crisis. I made a joke to them that I'd wait for a call from our Realestate.com Rep next. We both laughed heartily, and I never got that call.
