The courtroom battle between Australia's two biggest online real estate players has ended with a judge ruling that Domain.com.au did not breach most of the consumer laws in a case involving REA Group's realestate.com.au. REA Group (owned by NewsCorp) and the Fairfax-owned Domain.com ended up in court after Domain launched an advertising campaign in February 2016 whereby it claimed to be the #1 property app - it was quickly sued by its competitor REA. Seven ads were identified in the case, including a four-page wrap around of the Sydney Morning Herald that stated Domain was the "#1 property app"
REA Group CEO Tracey Fellows. Image: www.rea-group.com REA Group, parent company of portal realestate.com.au has announced its results for the half-year period ended 31 December, with a net profit of $121.8 million, up 6% on the year earlier period. Financial highlights from core operations include revenue growth of 16% on the prior half year to AUD 337.3 million, an increase in EBITDA of 13% to AUD 200.1 million while a gain on the sale of the Europe business of $161.6 million resulted in a reported Net profit of $292.1 million. Key takeaways • Revenue of $337.3 million, up 16% • EBITDA
Alibaba's Australia/New Zealand business developer says the company has considered selling property on its website. Alibaba, the Chinese e-commerce giant that has just opened its doors in Australia, may sell apartments on its platform in the immediate future reports AFR. The $328 billion company, which opened an office in Melbourne on Saturday, will focus on products such as vitamins, dairy and agriculture, but has considered selling apartments on its platforms alongside facilitating the payment of deposits or settlements of apartments through its payment transactions service Alipay. "It has been discussed internally," Alibaba Australia New Zealand business development director John O'Loghlen said.
Ben Handler and Simon Cohen. Image: Supplied The buying process at an auction could be set for a shake-up thanks to the release of AuctionWiz, a new platform powered by Australian buyers' agency Cohen Handler. Those buyers looking for expert representation can sign up to AuctionWiz and be connected with a Cohen Handler buyers' agent for assistance throughout the auction process, including representation at their chosen auction, either over the phone, on email or in person. The Sydney-based Cohen Handler agency, was born out of a desire to level the playing field for buyers at auctions through providing representation for the buyer,
Over 50,000 Australians have created a Renter Resume through housing portal Rent.com.au only 100 days after the feature was launched in October 2016. The resume allows for the automatic generation of property enquiries and applications, with prospective renters able to apply for a property while they are inspecting it with the click of a button. Greg Bader is the newly-appointed CEO for Australian listings firm Rent.com.au Limited. The CEO of Rent.com.au, Greg Bader, said the strong adoption of Renter Resume reflected that the company is addressing a real gap in the market. “Our Renter Resume is a unique product that
Casa Mozambique, one of Mozambique’s largest property portals, has launched a bi-lingual magazine to expand its offering to consumers. The eponymous magazine, available in both print and digital formats, has been specifically suited to the Portuguese and English culture of Mozambique and features in-depth market analysis, tips, décor trends, and statistics from some of Mozambique largest real estate players. The portal, which is backed by Shaun Di Gregorio's agency Frontier Digital Ventures, has recently focused on expanding its reach and technical abilities, which includes a new Home Services beta feature. Bryan Webster says the response to the portal's inaugural edition of Casa
Real Estate Investar is experiencing steady membership growth Real Estate Investar Group, a leading provider of online services to Australian and New Zealand property investors, has released highlights from its December 2016 quarter, which includes reaching its 250,000 membership milestone. Key Takeaways As of 31 December Real Estate Investar's membership stood at 250,124 members, a 64.1% year on year growth. Cash receipts grew by 7% over the previous corresponding period to $1.0m; Net cash outflows used in operating activities improved to $0.2m, significantly reduced from net outflows of $1.6m in the previous corresponding period and $0.9m in the September 2016
buyMyplace has announced its expansion off the back of its recent revenue raising. One of Australia's leading online commission-free real estate companies buyMyplace, has extended its offering to include a full service package for vendors who don't have time to sell their property. The full service offering will initially launch in Melbourne and extend on the company's DIY sale package. Costing $4595, the service provides all the standard services provided by a traditional real estate agent, such as property appraisals, open for inspections, buyer follow up and price negotiation as well as creation of property listings on the major property portals.
One of Chris' many passions was cooking. (Image supplied) It is with great sadness that that we announce that Chris Vulovic, the former REA Group CIO and co-founder of Property Portal Watch has passed away at just 44 years of age. I had the honour and privilege of not only working with Chris, but of also having her as a close friend; she was an amazing person with a huge heart and for whom nothing was too much to ask. I first met Chris back in 2000 when I was working for a start-up in the US and she was
I'm big fan of data and an even bigger fan of data visualizations. I track a lot of data on the major property portals around the world. Today, we're going to look at three key insights from that analysis. If you follow my writing you've seen this first chart before. It shows a financial comparison of the major property portals. This time around, the major change is an effort to present a true apples-to-apples comparison by normalizing EBITDA -- by using generally accepted accounting principles and including share-based compensation as a true cost. This has the immediate effect of