REA Group Expands Connect Prospecting Product to Rentals

March 1, 2022
Share this Post: 

Australian portal operator REA Group has today announced that its Connect product will be expanded and made available to leasing agents.

Released to sales agents in Australia in April 2021, Connect is suite of listing prospecting tools that allow agents to promote their services across the network, see enhanced data on sold and on-market listings as well as build customisable proposals and digital listings agreements.

The service was developed with PropTech business Realtair, a company in which REA Group invested a reported A$7.3m for a 19.9% interest last year.

REA Group General Manager Residential, Simon Hope, said this complete picture of the rental market aims to help agents easily determine, or maximise, the rental yield of a property.

“Sales agents have experienced some great success prospecting with Connect, and we're delighted to now expand this solution to include leasing agents,” Simon said.

“We also expanded Connect late last year introducing a new Market Insights feature for selling agents. The inclusion this week of leased and ‘for lease’ listings into Market Insights enables agents to access up to date supply and demand metrics across the rental market.”

REA's development and expansion of Connect come at a time when real estate portals around the world are increasingly leaning into the idea of being a source not only of sales leads for their customers but of listings and mandate leads as well.

With housing shortages prevalent around the world, many portal businesses are deploying resources into becoming the top of the funnel for seller leads. Both Scout24 and Axel Springer (through Meilleurs Agents) are using referral models to generate revenue from seller leads and British portals Rightmove, OnTheMarket and Boomin have all recently upgraded or released tools to help agents capture more listings.

March 1, 2022
Edmund got to know the world of portals and marketplaces working at Mitula Group (which became Lifull Connect after the buyout in 2018). He worked directly with hundreds of portals across the world in his role in the content department for three and a half years before transferring to the SEO department to understand the inner workings of listings sites. He joined Online Marketplaces as Head of Content in March 2020.

Subscribe to our mailing list to get the famous, free Friday newsletter!

News and analysis to help build better online marketplace businesses, in your inbox, every Friday

Related News

Zillow And Opendoor
Zillow and Opendoor Further Extend Their Partnership into 3 New Markets

US giant Zillow and Opendoor have expanded their home sales partnership into three new markets. The new markets are Houston,...

Read More
Ke Holdings Decoration
Chinese Leader KE Holdings Sees Net Losses Widen to $203m in 2022 As It Goes "from high-speed to high quality growth"

Leading Chinese real estate brokerage and portal company KE Holdings (aka Beike) has released a report on its performance for...

Read More
Property Finder Boardroom
PropertyFinder hires Frode Nordseth as VP of Product

Dubai-based marketplace Property Finder has hired Frode Nordseth as its new VP of Product. He announced his new role in...

Read More
Buyrentkenya Nairobi Skyline
"The ceiling for innovation is just infinite at this point" - Interview with BuyRentKenya CEO, Lizzie Costabir

Like the previous two portals we've spoken to in our Africa series, BuyRentKenya has been in the business for 10...

Read More

Editor's Pick