Brisbane's rental market, Brisbane's sales market, Real Estate Marketing

Keeping it simple: the new look REIQ.com

Why would the real estate industry be pushing an alternative web portal for home buyers and tenants?

In 2013 the web is without doubt the dominant media for real estate advertising. But one site has held a very dominant market share in Queensland and this has seen our clients’ costs to advertise rise rapidly. An upgraded listing for example has skyrocketed from $65 to $360 – a 453% increase – in just 6 years. So our seller and landlord clients have benefited from the growth of online traffic, but at a very hefty cost in this dominated, monopoly driven market.

Tenants and home buyers have also grown frustrated with the cluttered pages with advertising for banks, insurers, developers etc all crowding the basic info we want. These web sites are big businesses, public companies with revenue growth expectations. So they will continue to drown you with 3rd party ads – right there next to the property ads our clients have paid to run.

The Real Estate Institute of Queensland has just relaunched its website www.reiq.com Have a look for yourself – the design is clean, simple and easy to navigate. REIQ’s Peter Brown says: “The website’s pages have been redesigned to create a better user experience, with a focus on intuitive menus and key information to guide rather than overwhelm visitors.”

REIQ.com is Queensland focused and has approx 100,000 sale and rental listings. There’s also heaps of data from the Institute’s research team, legal info, market tips and ideas on choosing your real estate agent.

And this site is owned by all REIQ members, agents like us. The Bees Nees team see it as a long-awaited alternative, a site that tenants and buyers will enjoy using, and a long-term solution for landlords and sellers wanting to promote their property in a very cost effective way.

Ask you property manager or selling agent if they’re supporting it.

Share your thoughts – how could the real estate portals be improved?

Declaration of bias: Our sales manager Rob Honeycombe is a Director of the Real Estate Institute of Queensland.