realestate.com.au and others

Do RE and management agencies list their properties for rent/sale on all the major listing sites?

E.g. Domain, REA, realestateview

Would that not quickly rack up the fixed costs? I know REA alone costs like 140 a month.

I'm confused, what if some people view REA and some people view Domain, but no both? Would not the listing agent be missing out on prospects? What happens when the online listing industry has more competitors?

I do think REA needs to knocked off their high horse though, no offense to anyone that owns REA shares. They have too much market power for their own good.

^Hopefully I put this in the right forum section.

 

What's your reasoning to want re.com knocked off there high horse?

They've been invaluable to me as a consumer in locating/researching/buying/selling property over the years..

Increased competition may drop advertising costs for RE agents, and spread out the advertisements over more websites... But again, as a consumer, this means more time searching the different sites and possibly more costs when selling as you'll want to be advertising on all of them..
Sometimes having a major dominant player can be a good thing

 

Varies per state. We get Domain for free because they're so desperate for market share here. We get 999:1 REA : domain enquiry.

Similar but to a leaser extent in Victoria. Perhaps an opposite story in qld / NSW? In wa REIWA has a good share. In ACT everyone's on another, All Homes.

REA costs a lot more than you suggest, though varies per state or region. Its worth it for us as that's where our target audience is.

All well and good to suggest they should be knocked off, but unless the buyers / tenants are looking in another place, why would sellers / landlords list there ?

 

Basically what DT said. To give you some idea of their market share, REA charge fees for base line advertising and premium listings. Their next biggest competitor, Domain, charge absolutely nothing at all.

However as with what DT said, the majority of enquiry still comes through REA which kinda of makes it a self-perpetuating cycle. Realestateview are growing though and it will hopefully only be a matter of time before it evens out but for now, if your property isn't on REA then you're not exposing it to anywhere near the potential tenants you should be.

 

Interesting info.. thanks Dark Templar. I'd rather not see the market dominated by a single player, as this would lead to abuse of monopoly power, as is the case with Veda in the credit rating market.

 

I agree, and think it's pretty clear that re.com abuse their monopoly position.. they recently increased their listing prices by 10%.. would like to know what costs they've incurred other than lining their and shareholders pockets. They also make a habit of creating a new and more exclusive level of listing which only supersedes their last (fictitious) high level of exclusivity..
I guess nothing will change unless both buyers and sellers decide to boycott, which will never happen..