Ensure you never miss an issue of the
real estate business bulletin
Challenger listing site sees record growth

Challenger listing site sees record growth

by Reporter 0 comments

An online rental portal has reported strong traffic growth while completing a successful round of capital raising.

Rent.com.au attracted a record 549,513 unique visitors to its website during October, with month-on-month traffic growth of more than 131,000 unique visitors.

Managing director Mark Woschnak said that at the time of listing on the ASX in June, the company aimed to attract more than 500,000 unique visitors within 12 months.

“To have reached that traffic target well ahead of schedule is a significant achievement for us, not just in our growing market share of renter audience, but also because we’re now driving three times the level of enquiries to our property agent and landlord customers compared to before our ASX listing,” he said.

“During October, we also delivered more than 15 million advertising impressions, a significant step toward rent.com.au becoming a more highly sought-after website for significant advertisers targeting our unique, predominantly 18 to 35-year-old, national audience.”  

According to Mr Woschnak, the company will now focus on maintaining the regular visitor audience of greater than 500,000 unique visitors per month, while enhancing the user experience and product suite.

The company has also successfully completed its placement of 13,169,875 shares at an issue price of 28 cents per share, raising $3.69 million before costs.

Mr Woschnak said he was pleased with the demand for shares and said the company is now well placed to accelerate its marketing, product development and sales objectives.

“We will continue to focus on building the complete rental marketplace, pursuing the proven model of success demonstrated in other markets by leading sites such as Seek, REA and Carsales.”

[Related: Online rental portal reports strong traffic growth]





Challenger listing site sees record growth
lawyersweekly logo
promoted content
Recommended by Spike Native Network
Listen to other installment of the Real Estate Business Podcast
reb top 100 agents 2017

The REB Top 100 Agents ranking is the foremost ranking of agents in Australia. It has set the bar for excellence in Australian real estate. To be ranked as an REB Top 100 Agent is the standard real estate professionals strive for. See the full 2018 ranking here!

featured podcast

featured podcast
The difference between an average agent and one who dominates

McGrath Crows Nest’s Peter Chauncy is number 10 in this year’s REB Top 100 Agents ranking. Peter, however, is more likely not surprised ...

View all podcasts

Would you consider working for Purplebricks or a similar 'DIY' model?

Yes (7.2%)
No (80.9%)
Perhaps - make me an offer (12%)

Total votes: 209
The voting for this poll has ended on: July 13, 2018
Do you have an industry update?