Real estate agents are upset with price hikes from leading online property marketer realestate.com.au and are seeking to challenge the market leader with an offering of their own, according to The Australian Financial Review.
A group of prominent real estate brokers and investors were discussing details for the rival venture on Thursday, the paper said, with an independent venture well on the way to being formed.
“We have already put together the paperwork, the site and the concept is already there, and we’ve got major and minor groups supporting the idea,” a member of the venture told the AFR.
The move, believed to be pushed by Century 21, follows a lift in the pricing structure for expensive suburbs at realestate.com.au late last month.
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Real estate agents look to challenge property marketer as fees rise: report.
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