realestate.com.au monopoly may be challenged

The Business Spectator has published an article on a challenge to the market leader in web based real estate advertising Realestate.com.au.

It’s no secret that REA is the number 1 portal in Australia, and in Queensland it’s clear from enquiry levels in our office that they dominate the market. In fact we subscribe to the number 2 portal Domain, and it’s clear from enquiry levels that they hold little sway with home shoppers in the Townsville Area.

It’s certainly not surprising that they are to be challenged – if you want to buy a home in the ACT , the leading portal appears to be alllhomes.com.au, and independent. It’s all about how we are conditioned and we see as the point of reference in the particular market.

No the less, challenge they may , nut it will still take time and enormous financial input to change “belief systems”, and I suspect REA will dominate the market for some time to come..

Australia’s largest real estate companies are preparing to fight online marketing giant REA Group Ltd over the rising costs of Internet advertising and real estate data access rights, according to the Australian Financial Review.

Companies which include LJ Hooker, Ray White, Raine & Horne and Century 21 are considering banding together to create rival advertising spaces and information sources, the AFRsaid.

“It’s called Project Rebellion,” Real Estate Institute of Australia president David Airey told the AFR.

“For too long agents have simply allowed their information too be used by commercial operators at no charge and been put in the stupid position of having to buy it back.”

REA operates the country’s most popular real estate website, realestate.com.au.