It has long been the case in Australia that the cost of marketing a property for sale entailed many thousands of dollars, costs which inevitably were factored into the sale price and the brunt borne by consumers/buyers.
The winners? The media companies.
Leading Australian web portals such as Domain.com.au and Realestate.com.au typically charge large monthly fees, plus many additional costs for separate features and services, to agents for uploading properties. Old-fashioned advertising in the local newspaper are as outdated as their prices. All of which ultimately get passed on to the consumer at each end of the real estate process.
With the increasing advent of free listing services for agents, Google Maps being the latest company to venture fully into the game, there is at least a positive influence occurring on property prices.
For instance, for those that are not fans of the many ads on realesate.com.au, let’s look at a quick comparison between the Australian portal with Google.
Real Estate Home Page Ads
Realestate.com.au = 50+
Google = 0-1
Real Estate Search Page Ads
Realestate.com.au = 7
Google = 1
Individual Property Page Ads
Realestate.com.au = 35+
Google = 0
Marquette Turner Luxury Homes is already a user of the product with our luxury listings overseas, and will be using the Australian version also. Whilst there’s not likely to be a shift away from the main Australian portals, there’s nothing like a good bit of competition.