REA Group today announced that it has acquired full ownership of Australian proptech, Realtair. REA Group initially invested in Realtair in 2020 and held a 37% stake in the business prior to the acquisition.
Realtair is an end-to-end property sales platform that streamlines the way agents connect with property owners. Its suite of products enables agents to create customisable digital listing presentations, sign agreements on the spot and manage auction and private treaty transactions.
The acquisition will accelerate REA Group’s agency services strategy by providing customers with the best digital tools throughout the property transaction journey.
REA Group Chief Executive Officer, Owen Wilson, commented: “We are focused on helping our customers to better manage their workflow, increase efficiencies, and grow their business. Realtair’s products will enhance our ability to deliver this and we’re excited by the long-term opportunities that our ongoing investment in Realtair presents.
“The positive response to our existing partnership with Realtair gives us great confidence in the benefits we can deliver for our customers. REA Group is well placed to help customers win more listings and with the added value that Realtair provides during the sales process, we can streamline the home buying experience for consumers.”
Realtair Co-Founder and Chief Executive Officer, Peter Matthews, said REA Group has been an important and effective partner and is the natural fit to take Realtair into the next phase of growth.
“I’m proud of what Realtair has achieved over the past eight years and have decided that now is the right time for new leadership to take the business forward.
“As part of REA Group, we can be sure that Realtair will continue to unlock value for the real estate industry with innovative tools that help agents do business,” he said.
Realtair Co-Founder and Chief Operating Officer, Blake Williams, and Chief Financial Officer, Paul Shaw, will continue in the business and REA Group looks forward to welcoming Realtair employees to the team.
REA Group notified the ACCC of the acquisition and received all clearances prior to completion.
About REA Group (www.rea-group.com): REA Group Ltd ACN 068 349 066 (ASX:REA) (“REA Group”) is a multinational digital advertising business specialising in property. REA Group operates Australia’s leading residential and commercial property websites – realestate.com.au and realcommercial.com.au – as well as the leading website dedicated to share property, Flatmates.com.au and property research website, property.com.au. REA Group owns Mortgage Choice Pty Ltd, an Australian mortgage broking franchise group, PropTrack Pty Ltd, a leading provider of property data services and Campaign Agent Pty Ltd, Australia’s leading provider in vendor paid advertising and home preparation finance solutions for the Australian real estate market. In Australia, REA Group holds strategic investments in Simpology Pty Ltd, a leading provider of mortgage application and e-lodgement solutions for the broking and lending industries; Realtair Pty Ltd, a digital platform providing end-to-end technology solutions for the real estate transaction process, and Arealytics, a provider of commercial real estate information and technology in Australia. Internationally, REA Group holds a controlling interest in REA India Pte. Ltd. operator of established brands Housing.com and PropTiger.com. REA Group also holds a significant minority shareholding in Move, Inc., operator of realtor.com in the US, the PropertyGuru Group, operator of leading property sites in Malaysia, Singapore, Thailand and Vietnam and Easiloan, a technology platform for end-to-end digital processing of home loans in India.
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