realestate.com.au’s recent decision to change its Private Listings Policy has been welcomed by propertynow.com.au, which had been threatened with account closure.
Earlier this year, we reported that realestate.com.au had suspended Vertex Consulting, an affiliate of For Sale By Owner website buymyplace.com.au, and was planning to end the subscriptions of propertynow.com.au and forsaleforlease.com.au.
“realestate.com.au has always maintained a policy of not accepting listings from private sellers, or from agents who facilitate listings on behalf of private sellers,” the top Australian property portal said at the time.
But on Friday last week, realestate.com.au sent out an email to its customers explaining a change to its policies regarding private listings. The email, reprinted in full on business2.com.au, states:
“[W]e have recognised that the minimum services requirement outlined in our Private Listing Policy – prescribing a required minimum range of ‘usual’ real estate agency services that agents must provide to their vendors – is out of step with the market and industry regulatory practices. For these reasons, effective immediately, this minimum services requirement will no longer apply.”
buymyplace.com.au declined to comment on the change, however propertynow.com.au director Andrew Blachut says he welcomes realestate.com.au’s decision.
“There is no doubt that the decision announced by REA last Friday is momentous and represents nothing less than an incredible game changing and watershed moment in Australian real estate, the likes of which has not been seen since the inception of the Internet,” Blachut says. “This decision goes a long way to levelling what had previously been a very slanted playing field, which favoured commission based real estate sales and the status quo.”
“propertynow.com.au’s own position on this entire matter is steadfast and our company continues to welcome both agent assisted and real estate agent listings on it’s own website,” Blachut adds. “propertynow.com.au has been offering a free listing service to real estate agents for the past eight months at considerable cost to the company.”
Advertising Partner
-->
