Online real estate business REA Group's chairman Hamish McLennan says he sees terrific growth potential through the company's recent US investment.
Last month REA, the operator of realestate.com.au, announced its intention to acquire 20 per cent of US digital real estate business Move Inc.
"The US is the world's largest residential real estate market and we are excited to be partnering with News Corp for this transaction," Mr McLennan told shareholders at the company's annual general meeting on Thursday.
REA, which also has operations in Europe and Asia, last week announced a 31 per cent increase in September quarter earnings to $63 million.
Chief executive Tracey Fellows said the company was looking forward to a strong Spring selling season in Australia.
No mention was made by Ms Fellows or Mr McLennan in their speeches to the meeting of the recent backlash from real estate agents about rising ad rates and a complex new pricing system based on property postcodes.
But when asked by a shareholder and real estate agent about the issue, Ms Fellows said she spent a lot of time listening to customers, employees and other stakeholders, and had taken on board the estate agent's views.
The company is considering a price freeze and further simplifying pricing due to feedback received since the new pricing system was introduced on September 1.