The Real Estate Institute of Queensland’s (REIQ) new listings website, which allows member agents to leverage the credibility of the association’s strong brand, could be another step towards a real estate institute-backed national listings website, REIQ managing director Dan Molloy said.
“It is the credibility of the REIQ brand, and it demonstrates a value-add for agents who are accredited members of the REIQ, by being able to demonstrate another string to their bow to offer to their sellers without any additional costs,” Mr Molloy told Real Estate Business.
The new service, which was launched last week, allows REIQ-accredited agencies to list their properties on REIQ.com as part of their membership.
“Our unique proposition as far as reiq.com is concerned is it is based around Queensland properties for the Queensland market,” Mr Molloy continued.
“We think it is very timely in providing additional options and competition to a market which is fairly concentrated.”
“Obviously the marketing of a property is about coverage. We are providing another option that is industry owned which we think is credible and will provide additional exposure in the market place. If that provides some additional competitive pressures on other providers, we believe that to be a good thing as well.”
He said a real estate institute-backed national listing website could be a reality at some point.
“There is a high level of collaboration between the relevant state institutes,” he said. “Most state real estate institutes (REIs) have an online listing presence in one form or another and there are ongoing discussions about how a national presence can be achieved.
“This is something we will continue to work towards."
He said the subscription process was “quite straight forward in terms of signing up.”
“A lot of members are using [listing] feeds in any event, and we have been in negotiating with a lot of those companies that provide these feeds.
“We are also in discussions with the head offices of the large franchise groups. Of course, the smaller agencies who do not have access to these larger networks...can essentially sign up and use the site’s backend functionality to upload their listings.”