The How and Why of nestoria.com.au

Gordana Davila

April 11, 2010

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The launch of nestoria.com.au at the end of March raised plenty of questions about how the new property search engine will operate in the Australian market. So propertyportalwatch.com got in touch with Nestoria co-founder Ed Freyfogle to find out what nestoria.com.au offers, and why he thinks it will succeed.

In explaining how the search engine works, Freyfogle was quick to point out that there are no plans to offer consumers help with issues such as home financing or moving. “Agents and portals do a great job of meeting those needs,” Freyfogle says. “Instead we focus on only one thing: being dead simple and fast to search.”

“One way to think about it is this: when you want to find a property, Nestoria can be a useful tool,” Freyfogle continues. “When it comes down to deciding between specific properties and dealing with the actual logistics of the transaction and move, consumers should turn to agents and portals.”

Freyfogle describes the Nestoria model as “a non-competitive, low effort, and very affordable” way for property portals to attract a significant volume of users. “We’re a very small team serving many countries,” he notes. “We have no ability or desire to work with the thousands of agents in any given market.”

But what about that other real estate search engine now operating in Australia, Google Maps? As far as Freyfogle is concerned, there is room for both:

“When we start in a country many people ask, ‘How are we possibly going to defeat X?’ where X is the leading portal, or Google, or whoever. The answer is simple: we won’t. We’re not here to ‘defeat’ anyone.

The opposite actually, we work with partners and focus on delivering a service that some users like. So far that strategy has worked well for us. So yes, I’m certain we can exist harmoniously with Google real estate and everyone else.”

The question is, will Australian property hunters find nestoria.com.au delivers a better experience than Google’s service? Freyfogle thinks they will:

“[O]ur overall experience is that the ‘free to list’ business model isn’t always the best for consumers. You end up with spam, duplication, etc. Likewise for content providers, when someone’s giving you something for free you don’t have clarity on where you stand.

A great example is Google’s organic search results. Of course it’s a great service and the traffic it provides is welcome, but there’s very little visibility as to what is happening. Most people I speak with who work in the internet industry have frustrations with Google and this lack of transparency.”

The other obvious question for nestoria.com.au is how it will establish itself as a recognised brand. “We’ve always taken the view that the product is the advertising,” Freyfogle says. “We will win people over by offering a high quality service that users like, the same as we’ve done in various other markets.”

So what’s next on the agenda for nestoria.com.au? “Besides learning in Australia we’re also hard at work on new markets,” Freyfogle reveals. “Hopefully we’ll have some more details of that to share in the near future.”

Disclosure: nestoria.com.au was created in partnership with Classified Ad Ventures, owner of propertyportalwatch.com.

Gordana Davila

April 11, 2010

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Acerca de Lucas Vargas:

  • Empezó en Grupo ZAP como el VP de Sales y en 2016 cuando la empresa tenía 60 empleados. Fue nombrado COO de VivaReal tomando el mando de Brian Requarth el Co-Fundador. VivaReal lanzó en Colombia y se trasladó a Brasil. En 2017 se hizo CEO del Grupo ZAP.
  • Ha trabajado en Mexico en PWC y en el Banco Santander
  • Tiene un Master de Business Administration de Harvard
  • En noviembre este año después de la fusión de OLX Brasil y Grupo ZAP fue nombrado el CEO del OLX Business Unit. Lidera la empresa junto con Andries Oudshoorn y Marcos Leite
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Simon Baker is the Founder and Executive Chairman of Online Marketplaces and Property Portal Watch. Involved with property portals for 15 years, he’s a well-recognized expert and industry consultant.
As former CEO/MD of the REA Group for 8 years, Simon led the group to its current market-leading position. When he joined REA Group in 2001, it had $4m in revenues, $6m in losses and an $8m market cap.
By 2008, the company presided over $155m in revenues, $35m in EBITDA and enjoyed a peak market cap of $1b. Simon is currently Chairman of the Mitula Group and Real Estate Investar and a serial portal founder and, investor.