One of the industry’s newest listings portals has reported that agent sign-up rates have reached record levels.
Homely, which was founded 14 months ago, said it added 1,200 offices during the six-week period between 1 January and 10 February. January was a record month for sign-ups.
The portal said it was on track to approach 100 per cent market coverage sooner than originally anticipated, although it wouldn’t disclose forecasts to Real Estate Business.
“Specific dates we want to keep confidential at this stage, though I can say we are six months ahead of those originally anticipated,” national sales director Rocky Bartolotto said.
Mr Bartolotto also said Homely has invested in new staff for its sales, marketing, development and customer support divisions.
Chief executive Jason Spencer said Homely was pleasantly surprised by its performance during January, when most agents were on holidays.
“To go from start-up to nearing 100 per cent market coverage in 14 months gives us great confidence that Australian real estate agents want to see legitimate competition to the established portals,” Mr Spencer said.
“We strongly believe we are fixing the problems associated with continuously increasing advertising costs, and the frustrations experienced by consumers due to a cluttered search experience.”