REA Group Ltd Annual Report 2021

REA Group Ltd | Annual Report 2021 20 Our suite of digital Agency Services supports our customers to grow their businesses and win their next listing. REA Group acquired a 22.33% stake in Realtair Pty Limited (“Realtair”) during the year. Realtair is a proptech platform that provides an end-to-end real estate sales solution. This allows agents to pitch, sign, automate and streamline the steps from property appraisal to settlement through mobile, easy to use technology. REA launched our new Connect subscription in April 2021, partnering with Realtair. Connect provides our customers with products across every stage of the prospecting journey to help attract, nurture and convert seller leads. This includes providing customers with access to our unrivalled demand and property data via our comparative market analysis tool. While still early days, there have been over 10,000 pitches to vendors using Connect since launch and customer feedback has been overwhelmingly positive. When it comes to REA’s advertising solutions, our FY21 results reflect the superior value being delivered to our customers and their vendors. Premiere continued to outperform with record penetration, and add-on products experienced strong growth – uptake of Audience Maximiser campaigns increased 126% YoY. 44 REA announced a strategic partnership with CampaignAgent in February 2021, acquiring a 27% interest in the company. CampaignAgent is the owner of VPAPay, the market leading buy now pay later solution for vendor paid advertising. Our partnership allows customers to provide prospective vendors with greater choice and flexibility in payment options for their advertising campaigns. The ability for agents to effectively track and monitor their campaign performance was enhanced during the year with the launch of REA’s new agency dashboard, unveiled in April. Seamlessly accessible from our Ignite self-service platform, agency principals can now view data including how many seller leads their agency is receiving, the number of new sale and rental listings their agency has listed, and where their agency ranks based on their market share of new listings. Providing access to unique data and marketplace intelligence REA’s Hometrack data business was rebranded to PropTrack in FY21, representing the Group in the market as a trusted leader in property data and automated valuations. PropTrack delivered record growth in FY21, successfully signing several multi-year customer contracts and delivering property data insights and valuations services to Australia’s largest financial institutions. Our REA Insights brand continued to gain strong momentum, with our team of in-house economists providing unparalleled data-driven insight into the Australian property market. Several new reports were launched including the REA Insights Listings Report. This monthly report provides a comprehensive overview on new and active listings for properties for sale on realestate.com.au, providing the most accurate view of new listing data in the market. Building next generation marketplaces A key focus of REA’s growth strategy is creating next generation marketplaces, and financial services is integral to this. Our financial services broker business performed strongly with broker recruitment increasing 26% YoY, 45 while record submissions and settlements were achieved, up 31% YoY 46 and 23% YoY 47 respectively. Australian highlights continued 44 REA internal data for FY21 compared to FY20. 45 REA internal data for FY21 compared to FY20. Does not include Mortgage Choice. 46 REA internal data for FY21 compared to FY20. Does not include Mortgage Choice. 47 REA internal data for FY21 compared to FY20. Does not include Mortgage Choice. increase in seller lead volumes 67% Year in review