Realestate.com.au launches front page advertising
20 Mar 2017
It’s the most sought after space in a newspaper, and now Realestate.com.au is hoping it’ll become the most sought after spot on the internet — for real estate, anyway.
The Front Page is Realestate.com.au’s latest premium-listing opportunity for Australian vendors.
Announced this week, the real estate site owned by REA Group (ASX: REA), is now letting real estate agents advertise properties on the Realestate.com.au homepage.
The Front Page — as the homepage of Realestate.com.au’s desktop site and apps is now referred to — will accept one property per suburb for a period of seven days.
Property advertisements listed on the Front Page will be served to users, across all devices, based on their previous search behavior, to ensure buyers are only seeing properties in areas relevant to them.
REA Group’s executive general manager of residential Andrew Rechtman said Front Page is “about putting property first” and giving vendors exclusivity over their areas.
It also acknowledges one of the fundamental downsides to online property marketing: it fails to capture passive buyers the way traditional print advertising always did so well.
“Consumers looking for their next home on Realestate.com.au will also benefit from Front Page, seeing properties they may not otherwise have considered or viewed,” Rechtman said.
Front Page advertising will further help grow Realestate.com.au’s premium listing product offering. In a market where property stock is in decline and listing volumes are down, Realestate.com.au and rival Domain make the bulk of their money selling premium product listings.
In the first half of FY2017, Realestate.com.au derived $244 million AUD ($189 million U.S.) from $318 million AUD ($245 million U.S.) in revenue from premium listing products, an increase of 16 percent from the prior corresponding period (PCP).
REA Group said Realestate.com.au’s homepage receives 16 million average monthly visits, and that its apps have been downloaded 6.3 million times. However, it doesn’t disclose audience numbers for individual areas or regions, which is how advertisments will be served to users and how rates will, presumably, be calculated.
Advertising on the Front Page is currently only available to properties for sale – not for rent.