If you come protfrom Brisbane or Sydney you may have noticed the launch of a new real estate portal called www.onthehouse.com.au. Over the past three months they have been running a fairly extensive bill board campaign in Brisbane and have recently kicked off a similar campaign in Sydney. I recently spoke to the Chief Operating Office of www.onthehouse.com.au, Luke Ingham-Myers about how the new site was going. He said that the response was overwhelming and the traffic to the site had exceeded their expectations. A few of the stat’s that he shared with me are provided below:
Over 1.6 million pageviews for the month of April
Average time on site per browser over 9 minutes
80,000 Unique browsers for April to date
The key difference that www.onthehouse.com.au offers to the other portals around is that you can access historical sales data for FREE. So instead of having to purchase property reports from companies such as RP Data or Home Price Guide, you can now get this information for free from their website.
It is a real point of difference, and probably what is required to make a significant impact in the real estate portal business, which is now a quite mature market. Many other portals have come to market with essentially the same offering as realestate.com.au and domain.com.au but have been unable to grab significant market share, even without charging subscription fees. The simple reason is that the major portals attract the vast majority of website visitors, and without a significant number of visitors, even if your portal is free it won’t provide value to the real estate agency and hence will not be successful. A successful portal ultimately needs to attract a significant number of visitors to get advertisers excited. The stats that www.onethehouse.com.au are quoting a very good, and if they continue growing at their present rate then we very well may have another significant player in the real estate portal market in Australia. Something I am sure we would all like to see.