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The country’s largest real estate website has revealed agents will be charged based on the location of the listing rather than the location of their office.
The radical change will see agents who sell across multiple suburbs the most heavily impacted.
According to realestate.com.au, the old model of charging agents based on their office location was unfair.
For example, in the current model, agents who are located in a prestigious suburb who don't exclusively sell in that suburb may be paying more for listings in less-exclusive areas.
General manager of sales and operations of REA Group Arthur Charlaftis said the changes were the latest in the evolution of realestate.com.au’s fee structure.
“We have been evolving our pricing model over the past few years, with a move towards depth products and away from a subscriptions model," he said.
“Over the last 12 months, we’ve introduced a number of new initiatives and products to help agents stand out from the crowd, and there are a number of exciting plans in the pipeline for the year ahead.
“We are continuing this evolution with the introduction of products and pricing we believe offers a fairer approach to delivering value aligned to local market conditions.”
Listing upgrades will remain the same, tiered from premier through to standard, as will the way agents are contracted onto the website.
However, Mr Charlaftis said that individual circumstances may differ for agents.
“We are in the process of contacting agents to inform them of the change, which will enable us to continue improving customer value and building our consumer experience,” he said.
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