Australian portal Homely has announced 32 new strategic partners for its Homely Plus product, taking the agent-backed portal one step closer to its next milestone of 700 collaborators.
New partners including RT Edgar Manningham & Boroondara and Belle Property Armadale, taking Homely to in excess of 685 strategic partners.
In Australia, the vendor pays to market their property—Homely Plus offers cost-effective digital advertising on Homely's portal, which has been visited more than 188 million times since its launch in 2014.
Co-founder and co-CEO Jason Spencer says that the newly announced partnerships are a testament to Homely's efforts to minimise cost where possible:
"We are thrilled by the overwhelming response from advertisers eager to join our VPA advertising model. A recent surge in membership requests further reinforces our commitment to offering unmatched value and reach in the property advertising space where our competitors continue to raise their prices.
"VPA in Australia is amongst the most expensive in the world. Our vision with Homely Plus has always been to offer a highly competitive advertising product that helps vendors promote their properties to a greater pool of potential buyers in a cost effective way. In the current economic climate, this has never been more relevant. The industry understands that it’s time for change.”
Homely achieved revenue growth of over 20% in its Full-year results released in July. It is also the only major portal in Australia to retain steady traffic to its site since September 2022, with each of its three main rivals losing visitors in the same period:
Homely is used by over 9,000 agencies across Australia and is well-known for its user-generated content, including user-submitted neighbourhood reviews and community-driven Q&As.