REA Group Acquires Remaining Stake in Prospecting Tool Realtair

June 19, 2024
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REA Group has announced that it has bought the remaining shares of Australian proptech company Realtair. Previously, REA Group held a 37% stake in Realtair, having initially invested in the company in 2020.

Realtair is described as an end-to-end property sales platform designed to streamline the connection between agents and property owners. Its suite of products allows agents to create customizable digital listing presentations, sign agreements instantly, and manage both auction and private treaty transactions.

In a press release REA Group's Chief Executive Officer, Owen Wilson, highlighted the strategic benefits of the acquisition, stating:

"We are focused on helping our customers to better manage their workflow, increase efficiencies, and grow their business. Realtair’s products will enhance our ability to deliver this and we’re excited by the long-term opportunities that our ongoing investment in Realtair presents."

"The positive response to our existing partnership with Realtair gives us great confidence in the benefits we can deliver for our customers. REA Group is well placed to help customers win more listings and with the added value that Realtair provides during the sales process, we can streamline the home buying experience for consumers."

Realtair Co-Founder and Chief Executive Officer, Peter Matthews, commented on the acquisition, stating:

"REA Group has been an important and effective partner and is the natural fit to take Realtair into the next phase of growth. I’m proud of what Realtair has achieved over the past eight years and have decided that now is the right time for new leadership to take the business forward."

"As part of REA Group, we can be sure that Realtair will continue to unlock value for the real estate industry with innovative tools that help agents do business."

Realtair Co-Founder and Chief Operating Officer, Blake Williams, and Chief Financial Officer, Paul Shaw, will remain with the company and Realtair's employees will be incorporated into REA's staff.

June 19, 2024
Since March 2020 Edmund's job has been to read about, write about, collect data on, analyse and generally know about real estate marketplaces and the companies that run them. Before that he worked at the aggregator Mitula Group (which became Lifull Connect) for five years.

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