REA Group Launches New Marketplace—Including "Buy Before you Sell" Product

August 16, 2022
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REA Group has launched a new marketplace to facilitate faster moves for buyers and sellers.

The marketplace offers financial products designed to boost vendor confidence around that alignment with a focus on support around buying before selling, and buying before settling.

The Australian portal giant partnered up with Bridgit and CampaignAgent to offer new services including 'buy before you sell' and 'sale price guarantee', with funding options up to AUD $4m and interest-free loans up to three months.

Henry RuizREA Group Chief Strategy Officer and CEO REAx, Henry Ruiz (pictured), said:

"Researching property can be a fragmented experience and listings only tell part of a property’s story. With we aim to help buyers and sellers achieve greater clarity on properties they might be interested in, which we know builds greater confidence to act.

"We have continued to evolve the site since introducing our refresh a few months ago. The launch of our new Marketplace is the next step in providing vendors with the confidence to list and we’re pleased to have the support of the teams at Bridgit and CampaignAgent to deliver short-term financial solutions for both buyers and sellers."

Bridgit CEO and Co-founder Aaron Bassin said:

"REA Group have been pioneers in PropTech and we look forward to partnering with them on a shared vision in helping Australian homeowners buy and sell property through technology. This partnership gives Bridgit the opportunity to continue empowering Australians in their property journey to enjoy the benefits of buying before they sell."

Shaun Moriarty, CEO & Co-Founder CampaignAgent said:

"We’re delighted to continue our partnership with REA Group as we roll out DepositNow within the product offering. DepositNow empowers homeowners to have financial freedom and confidence at a time that can be highly stressful by enabling them to buy whilst selling their current property."

The launch of the new marketplace coincides with excellent financial results for the Group, with year-on-year revenues up 26% at AUD $1.1 billion. It marks the first time REA Group has achieved revenues of over $1bn after the consolidation of its mortgage brokerage business in 2021.

August 16, 2022
Harvey is an experienced property journalist and copywriter. He has written about the property industry since 2015, starting at The Property Franchise Group in the UK, before moving to Spain to work for Spotahome. He has blogged for the private rented sector, ghostwritten for UK property experts and written case studies for franchise owners around the UK. Harvey joined Online Marketplaces as a News Editor in 2022.

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