what does erin brokovich have in common with propertynow private house sales

Australia's largest real estate website had a long standing official policy to not allow private sellers to advertise on realestate.com.au.

Does that mean that you are unfairly locked out from advertising your private sale on the leading property website in Australia. Thankfully no, it doesn't......

In 2010-2011 PropertyNow had a major fight with realestate.com.au during which REA ( the company that owns realestate.com.au) tried vigorously to bully PropertyNow to such an extent that it threatened and intended the closure of our PropertyNow REA account.

Now normally when a small business such as PropertyNow, takes on an internet giant worth around 2 billion dollars and which is majority owned by News Limited, its bad news for the little guy.

However in the best Erin Brokovich style the scenario played out in an unexpected way.



PropertyNow sought out (as a desperate last resort) the help of the Competition Watchdog ACCC)

The ACCC is the Australian Consumer and Competition Regulatory Authority. they investigated PropertyNow's claims that REA had misused its Market Power in trying to prevent PropertyNow from continuing its long standing business model and public service to assist people to sell their own home with no commission.

6 months into an investigation which lasted up to 18 months, the REA publicly admitted guilt in the matter and decided not to close the PropertyNow account on www.realestate.com.au

You can view this admission (made by the REA CEO) here - REA out of step with industry regulatory practices

What this meant is that PropertyNow prevailed and was completely vindicated in it's stance and in it's business model.   (after  a 7 year struggle with many of the large real estate agent centric property portals)

The struggles were worth it because a legacy and a precedent has now been set inside the real estate industry such that for sale by owner sellers have now achieved the level playing field that they deserved all along!

It is now entirely acceptable to REA that you as a private seller (in an agent assisted sale) can appear and advertise on realestate.com.au for either the private sale or private rental of your property.


Andrew Blachut
 
Licensee and Owner
PropertyNow Real Estate Portal
www.propertynow.com.au