Some major real estate networks, independent brokerage firms and franchise groups are joining forces in an effort to combat the influence of Australia’s top public listing portal, Real Estate Business reported.
The portal’s name and official launch date have yet to be announced. The companies involved include Belle Property, Century 21, Harcourts Group, IRENE (Independent Real Estate Network of Excellence), LJ Hooker, PRDnationwide, Raine & Horne, Ray White and Re/Max, REB said.
“There has been widespread discussion and concern within the Australian real estate industry regarding the current direction of third-party, online real estate portals and the future of online real estate marketing,” Nick Christian, the portal’s new CEO, told the news outlet.
“There has also been significant demand for industry leadership to be shown in this area.”
This move comes after realestate.com.au, Australia’s top listing portal, put in place new, unpopular fee hikes, according to REB.
“We believe as an industry we must have control of our data and ensure realistic pricing for our industry and its clients into the future,” Christian said.
“We must work together, putting aside brand competition and self-interest to make sure this becomes a reality.”