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top suburbs

12 month growth
Box Hill
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Mollymook
82.85%
Brightwaters
79.93%
Cleve
78.13%
Bawley Point
76.2%
Murrays Beach
75.57%
Terranora
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Breaking up with Facebook: Real estate soldiers on

By Grace Ormsby
19 February 2021 | 1 minute read
facebook smartphone 2 reb

As the widespread impact of the Facebook ban on news becomes clearer, what’s also becoming evident is the ability of agents and real estate industry players to pivot away from the social media platform.

Since the Facebook ban on news came to light, the Real Estate Institute of Australia (REIA) has come out with a statement acknowledging that while Facebook has long been considered “an important channel” for real estate to connect with Australians, it’s not the only outlet available to real estate agents to engage with Australians looking to buy, sell, rent or let.

While the REIA is still assessing the situation, president Adrian Kelly did consider that real estate marketing will continue to reach its customers.

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“We strongly advise them to sign up direct to their preferred source of news for listings for their housing needs,” he had stated.

Elsewhere, Domain has commented on the listings giant’s inclusion on the banned list, with Domain’s chief commercial officer, Tony Blamey, conceding that “yesterday’s announcement from Facebook was a shock to all, affecting many, including us”.

“And while the situation is still evolving, our audience numbers remain strong and website traffic to Domain.com.au is up compared to the same period over the last month,” he highlighted, stating it is a testament to the highly engaged audience that Domain commands.

He flagged that Facebook’s changes have only affected organic posts from the site, but social boost and sponsored content are still running and performing as normal.

Mr Blamey added that the platform is continuing to post content across LinkedIn, Instagram and YouTube in a bid to reach property enthusiasts. 

“We are continuing to watch the situation, and are working closely with all parties to ensure we continue to shine a light on all things property.”

Yesterday (18 February), REB revealed that Domain — alongside major shareholder Nine — was in “active discussions with Facebook”. 

“We are hopeful that a resolution will be found quickly that is mutually beneficial to both parties,” a spokesperson for Domain had said at the time.

The quest for a solution moving forward comes as Commonwealth Treasurer Josh Frydenberg reported he had been in further talks with Facebook founder and CEO Mark Zuckerberg and will continue to do so over the weekend of 20 and 21 February 2021.

“We talked through their remaining issues and agreed our respective teams would work through them immediately,” the Treasurer said.

Despite being willing to enter into talks with the platform as to the implementation of the News Media Bargaining Code legislation, which is Facebook’s reason for instigating the ban on news, Mr Frydenberg said he had reiterated that “Australia remains committed to implementing the code”.

For more information on the impact that the Facebook ban is having on the real estate industry, click here.

Breaking up with Facebook: Real estate soldiers on
facebook smartphone 2 reb
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ABOUT THE AUTHOR


Grace Ormsby

Grace Ormsby

Grace is a journalist across Momentum property and investment brands. Grace joined Momentum Media in 2018, bringing with her a Bachelor of Laws and a Bachelor of Communication (Journalism) from the University of Newcastle. She’s passionate about delivering easy to digest information and content relevant to her key audiences and stakeholders.

Do you have an industry update?

top suburbs

12 month growth
Box Hill
127.02%
Mollymook
82.85%
Brightwaters
79.93%
Cleve
78.13%
Bawley Point
76.2%
Murrays Beach
75.57%
Terranora
70%
Crescent Head
69.38%
Park Ridge South
68.32%
Mollymook Beach
67.09%
SEE AREA REPORTS ON SMART PROPERTY INVESTMENT WEBSITE
Subscribe to Newsletter

Ensure you never miss an issue of the Real Estate Business Bulletin.
Enter your email to receive the latest real estate advice and tools to help you sell.