realestate.com.au Introduces Sales Info
July 1, 2009 by Emma Sorensen
Market leading Australian property portal realestate.com.au has revealed yet more website enhancements. This time the REA Group owned website claims to be providing buyers and sellers with the most comprehensive Australian property sales information freely available online.
The addition of sales information follows a similar move made by realestate.com.au’s competitor, domain.com.au, which added sales data in early May. The two portals seem to be going head-to-head in a battle to out do each other in website enhancements. Most recently, domain.com.au followed realestate.com.au in launching an iPhone app. Both websites have also unveiled improved search functionality in recent months.
Henry Ruiz, General Manager Consumer Marketing for realestate.com.au said the website now has the added advantage of accessing up-to-the-minute property information through its “exclusive strategic alliance” with rpdata.com – Australia’s leading property information and analytics provider.
In a statement about the addition of new sales data, Henry said:
“Buyers and sellers can now take advantage of property trends by tapping into a list of the most comprehensive data for free, including recent sold properties that are of a similar type, which now appears on the bottom of the individual property search page. We now provide more auction results and recent sales information in more locations around Australia, than any other free online provider.
The sales data will be displayed on the property pages, where users will see the property details of the six most recent sales that match the suburb and the property type they’ve searched for.
These changes come after realestate.com.au announced a series of enhancements earlier this month, which included cleaner site design and improved navigation, plus easy-to-use schedules and shortlists so property seekers can prioritise the properties they want to visit.
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Having had some experience in the data arena, the fact is that many agents either do not supply the sold price to REA and Domain choosing to withdraw the listing in many cases rather than updating it to sold and having to provide the price. Some agents will also just enter or leave the Listing price as the sold price or in a small number of cases put an incorrect price. Ultimately the reliance on this data in its own right is questionable.
There are many reasons for these practices but in the main many agents want to keep this data for their own use rather than make it available to their competitors.
This can be confirmed by comparing the prices displayed on these sites to the Sales Data provided by the LPI once made available.
[...] in July, realestate.com.au added suburb sales history to its property pages. That followed a series of website enhancements unveiled in [...]