The site, roomeo.com.au, follows CPREA stating at its own launch in February that it would press ahead with the long sought-after goal of an industry-owned national listing website.
"The people behind this project have a long-held common focus and purpose, which is to give the industry more control over increasing online costs and providing an affordable, user-friendly portal where members of the community can view every Australian listing in one place,” said CPREA chairman Geoff Baldwin.
Mr Baldwin added that for a national real estate portal to be supported and succeed it has to have one vital ingredient: it must be owned by people who work in the industry.
He added that once the listing numbers and traffic hit their early targets, shares will be offered exclusively to industry participants.
Mr Baldwin said this ownership model will ensure the website cannot be brought out in the future by a competitor or commercial interests.
“This is an exciting initiative where agents will at last have the opportunity to actually own and control their internet presence and future costs," he said. "Today, agents find themselves in an online dilemma as portals controlled by the major media companies are dominating the space at the expense of the industry, and ultimately increasing costs to the public.
"It is time the industry came together nationally to provide a cost-effective alternative whereby agents can invest and have meaningful input to provide a powerful web alternative for the industry and the broader Australian community."
Mr Baldwin said he’s confident CPREA will easily meet the launch target of 30,000 listings across all states and territories.