After REA’s price hikes, many Australian real estate agents found themselves in a predicament, struggling to figure out their course of action. Homehound re-emerged in June, with the promise of innovation and a capped pricing model, and since the property portal has reported substantial organic traffic growth, and wants industry support to aggressively go to market.
Boris Gefter, General Manager, Homehound, said in a release: “Homehound has been around for the last 10 years, supporting real estate agents with free listings. The market now wants more, and we are prepared to provide it.”
Owned by IPMG, Homehound has a pedigree within publishing and marketing. First launched as a publication ad-on service for The Courier newspapers (previously owned by IPMG), Homehound remains one of the largest real estate portals in Australia.
Interestingly enough, with talk of agents creating a realestate.com.au alternative, few know that Homehound was at one point, partially owned by several large real estate groups including Ray White Group, LJ Hooker, Raine & Horne and Century 21. Whether this historical relationship will help Homehound steal away market share, remains to be seen.
In recent days, Homehound has unveiled a fixed fee “gold package” which includes unlimited listings for $250 per office per month. Promising to deliver an incremental, and gradually expanding audience, only time will tell how much the Homehound offering will resonate with a disillusioned agent customer base.
Edited by Gordana Davila