Property Portal Watch » People

Another Loss for REA Group

Alice Allan — Tue, 09 Mar 2010 05:09:39 +0000

Another member of REA Group has just left the team – Daniel Bignold, head of residential for realestate.com.au.

Bignold began at REA Group in 2006 running realcommercial.com.au, which he grew by around 650 percent over three years. In early 2009, he moved to the residential side of the business, and also took on management of realholidays.com.au and homeguru.com.au.

Some might question Bignold’s decision to leave a company that has just posted such strong financial results, but he says it was a matter of company direction:

“The business has decided to take some directions I don’t necessarily agree with,” Bignold told propertyportalwatch.com.

“I’m now evaluating some different opportunities,” he added, without going into further detail.

Bignold did say REA Group had a “teriffic” corporate culture and described it as one of the best he had worked in.

When questioned on REA Group’s financial future, Bignold maintained there is still room for expansion.

“There’s no question there’s room for more growth,” he explained. “Not in new subscriptions, but in terms of a greater share-of-wallet from existing customers.”

Bignold’s departure follows that of REA Group director Alasdair MacLeod in early February. In 2009, the company also lost general manager for international business Shaun Di Gregorio and Australian CEO Jamie Pride.

Two New Members Join “Guru-dom”

Alice Allan — Thu, 04 Mar 2010 21:04:26 +0000

propertyguru.com.sg, the Singaporean property portal that took out “Best International Property Portal” in last year’s CNBC Awards, has added two new members to its team.

Business development specialist Keith Low has picked up the portal’s newly-created general manager role, and will take full responsibility for its revenues. Low’s most recent role was vice president of Pyramid Management Group – a privately owned retail developer in the US with a portfolio producing over US$5 billion annually. Low headed the company’s China and South East Asia strategic investment and development business.

Former alibaba.com senior director Winnie Khoo has also joined what the company refers to as “guru-dom”. Khoo will be bringing her expertise to the role of chief marketing officer, taking responsibility for all marketing, customer services and content activities. Khoo was previously responsible for marketing alibaba.com’s international website.

“propertyguru.com.sg has established a clear lead in Singapore, as well as record revenues and traffic in the first two months of this year,” said Steve Melhuish, the portal’s CEO and co-founder. “We’re delighted to bring on board two highly experienced senior managers, to accelerate this growth further during 2010.”

Two New Hires at look4aproperty.com

Alice Allan — Mon, 15 Feb 2010 23:20:11 +0000

Rob Sendall, former CEO of The Live Organisation, and Tim Burchell, former owner of Burchell Edwards, have both joined UK portal look4aproperty.com.

look4aproperty.com was established in 2004 by entrepreneur Aaron Turner. James Caan, entrepreneur and star of the BBC’s business pitching show Dragon’s Den, became chairman in late 2008.

The portal has since launched its Look4AProperty | Money product, which offers interest-free loans to cover unavoidable moving costs such as stamp duty and legal fees.

“Tim brings significant knowledge and expertise in the world of estate agency,” explained Caan. “We plan to put this to good use as we continue to roll out Look4AProperty | Money across the UK.”

“look4aproperty.com has grown so much as a website and a business, and the fantastic Look4AProperty | Money initiative will transform the industry as we know it,” Burchell said.

“Look4AProperty | Money is the most exciting initiative to hit the housing market for years,” added Sendall. “Estate agents, buyers and sellers will all benefit from the cash injection – and I was delighted to be asked to bring my experience in to the project.”

look4aproperty.com currently features UK sale and rental properties as well as overseas listings.

New Director and Chairman for IPGA

Alice Allan — Thu, 04 Feb 2010 22:36:34 +0000

IPGA Ltd, the company behind the iproperty.com family of portals, has announced a number of changes to the composition and structure of its Board of Directors.

Non-Executive Director Simon Baker has been appointed Chairman of the Board. Former Executive Chairman Patrick Grove is moving to a Non-Executive role and assuming the title of Deputy Chairman. The Board has also elected a new Director, Luke Elliott, to join its ranks.

“It’s an honour to take over the Chairmanship of IPGA,” said Baker. “The business has established itself as a leader in online real estate advertising in the region and is well positioned to take advantage of the rapid growth online property advertising in Asia. I look forward to working with the Board and the Company’s management to realise IPGA’s tremendous potential.”

“The Board would like to thank Patrick Grove for his Chairmanship of the Company,” said Baker. Patrick has successfully steered the business from its formation through being a leader in online property advertising in Asia. I look forward to working with Patrick to help drive the continued growth of IPGA.”

“We welcome Luke Elliott to the Board” Baker continued. “Luke’s experience in developing and managing media businesses throughout Asia will be invaluable to IPGA. Luke’s familiarity with IPGA’s regional operating environments will be extremely important in helping drive future business expansion.”

Elliott, a founding shareholder of IPGA’s majority shareholder, Catcha Media Group, brings over 10 years of Asian online media experience. He currently serves as the GM of Catcha Digital, a partnership between Microsoft and Catcha Media Group to operate Microsoft’s entire suite of online products in Malaysia, and is one of the region’s leading experts in developing fast-moving online business models and monetising online media assets.

The changes to the Board follow the recent appointment of former REA Group General Manager, Shaun Di Gregorio, as IPGA’s Chief Executive Officer.

IPGA operates portals in Singapore, Malaysia, and Hong Kong and has investments in India and the Philippines.

Classified Ad Ventures is the owner of propertyportalwatch.com, and also owns a stake in IPGA.

REA Group Director Steps Down

Alice Allan — Wed, 03 Feb 2010 02:21:06 +0000

Alasdair MacLeod is stepping down from his position as director of REA Group.

MacLeod’s departure follows the mid-January announcement that he would be leaving his position as managing director of News Ltd’s Nationwide News at the end of the month. REA Group is 60.7 percent owned by News Ltd, and MacLeod is the son-in-law of Rupert Murdoch, head of News Ltd’s parent company News Corporation.

REA Group runs leading Australian property portal realestate.com.au along with Italian portal casa.it and portals in France, Germany, Luxembourg, and Hong Kong. MacLeod joined the board in February 2003.

In a company statement, MacLeod commented:

“It is with great delight that I have watched the company grow into a highly successful international group with a market capitalisation of over $1 billion. I have thoroughly enjoyed the journey and wish the REA Board, management and global team every success for the future.”

REA Group chairman Richard Freudenstein added:

“Alasdair has been a committed and valuable member of the Board and the company has benefited from his extensive media industry experience and management expertise. On behalf of the Board, I would like to thank Alasdair for his significant contribution to REA’s success over the past seven years and wish him all the best in his future pursuits.”

MacLeod’s resignation follows two other REA Group departures during 2009: general manager for international business, Shaun Di Gregorio, and Australian CEO Jamie Pride.

REA Group reported strong traffic and revenue figures for 2009 after selling its stake in United Arab Emirates portal propertyfinder.ae and selling UK portal propertyfinder.com to zoopla.co.uk.

REA Senior Manager Joins IPGA

Alice Allan — Mon, 18 Jan 2010 00:15:41 +0000

IPGA Ltd, the company behind the iproperty.com family of portals, has announced the appointment of Shaun Di Gregorio as its new CEO.

Di Gregorio previously held positions as head of Australian operations for REA Group and general manager of REA Group’s international business. Patrick Grove, IPGA’s executive chairman, says REA Group’s revenues grew from AUD$6 million to $167 million and the share price increased from $0.15 to $7.40 while Di Gregorio was working as a senior manager at the company.

“iProperty has established leading positions in Malaysia, Hong Kong and Singapore,” Grove says. “We believe that these markets are poised to replicate the tremendous growth experienced in the more mature Australian and UK markets. Shaun’s experience in rapid growth markets will be invaluable in driving the long term success of iProperty.”

“I am very excited about joining IPGA,” Di Gregorio added. “I believe the business has tremendous growth potential across its core Malaysian, Hong Kong and Singaporean markets.

Former IPGA CEO Kensuke Tsurumaru will remain with the company as chief operating officer.

Di Gregorio’s appointment follows the appointment of former REA Group CEO, Simon Baker, to IPGA’s board of directors in November 2009.

Classified Ad Ventures is the owner of propertyportalwatch.com, and also owns a stake in IPGA.

Three New Hires for Realogy

Alice Allan — Thu, 07 Jan 2010 01:28:18 +0000

Realogy Corporation, a US-based provider of real estate and relocation services worldwide, has just announced the appointment of three new employees.

Phillip Hugh, who previously worked as CEO for Development Opportunity Corporation, will be Realogy’s new executive vice president of franchise sales. Realogy says Hugh will be responsible for its sales activity throughout the US.

Former GMAC Home Services president and CEO John Bearden has also taken up a role assisting Realogy with “key growth opportunities in major markets”.

Finally, Tim Henderson has been given the role of senior vice president of franchise sales for Realogy’s Better Homes and Gardens Real Estate brand.

Realogy’s brands and businesses include Century 21, Coldwell Banker, the Corcoran Group, and Sotheby’s International Realty. Realogy says that collectively, its franchise systems have approximately 14,500 offices and 268,000 sales associates doing business in 93 countries and territories worldwide.

Move, Inc. Loses Board Member

Alice Allan — Tue, 05 Jan 2010 22:06:07 +0000

William Kelvie has resigned from his position on the Move, Inc. board of directors.

Move is the parent company of top US real estate websites realtor.com and move.com. Kelvie joined the board of directors in 1998, and his professional history also includes executive roles with Fannie Mae and the job of CEO at IT company Overture Corporation.

Joe Hanauer, chairman of the Move board of directors, summed up Kelvie’s time on the board:

“During Bill’s 11 year tenure on the board, his unique background in technology and the mortgage industry played an important role in guiding the company’s growth. In fact, as one of Move’s early directors he played a key role in helping shepherd the company to its long standing leadership position in the online real estate space.”

2009 was a year of change at Move, with the sale of Welcome Wagon, a new CEO and the departure of president Lorna Borenstein, plus serious overhauls of seniorhousing.net and moving.com and new plans for realtor.com.The company moved headquarters in an effort to cut costs, and launched the Builders Digital Experience website – a joint venture dedicated to helping new home builders reach buyers.

The company saw a drop in revenue in the first, second, and third quarters of 2009 compared to 2008 totals.

Move’s share price ended the day’s trading down 3.53 percent.

New Manager for OLX Brazil

Alice Allan — Tue, 24 Nov 2009 00:00:48 +0000

OLX, a classifieds portal that lists real estate along with jobs, cars, personals, classes, services, community events and items for sale, has announced a new country manager for its Brazil-based website.

A press release explains that Rodrigo Ribeirão will now head operations at olx.com.br, aiming to build brand awareness, improve user engagement, form strategic partnerships and develop strategies for driving growth.

According to OLX, olx.com.br has over 10 million visitors per month. OLX states the addition of Ribeirão means the company now has 130 employees across six countries.

Founded in 2006, OLX says it is used in over 90 countries in 40 languages. It uses a free-to-list, pay-to-upgrade model and only accepts advertisements placed through Google’s AdWords program.

daft.ie Expands to Northern Ireland

Alice Allan — Tue, 03 Nov 2009 21:40:33 +0000

Irish property portal daft.ie has announced its expansion into Northern Ireland with the launch of daft.com.

With the same format as daft.ie, daft.com lists houses for sale and rent, as well as share properties, on a subscription basis.

Heading the launch of daft.com is Mark Pollock, who recently completed a 1,000 kilometre race to the South Pole. Pollock’s blog describes him as an “adventure athlete, motivational speaker and author” and explains that he has been blind since 1998. Pollock discussed his latest venture in daft.ie’s press release:

“After returning from the South Pole I needed a new challenge. daft.com is a property business investing in the Northern Ireland market at a time when others are hesitating. With challenging economic times upon us, keeping costs to a minimum is important for all businesses, especially those in the property sector and daft.com offers a great online solution to agents and individuals who want to market their properties. I’m very confident of Daft’s success in this market.”

daft.com currently employs six people, but daft.ie says it expects the new website to double in size over the next two years. According to daft.ie, daft.com currently lists over 20 percent of properties currently available for sale or rent in Northern Ireland.

daft.ie, which was recently ranked number one in Deloitte and Touche’s 2009 Technology Fast 50 Awards, says it sees 1.2 million unique visitors per month.