Homeowners now track a record three million Australian properties on realestate.com.au, which equates to almost 30 per cent of homes nationally.
According to REA Group data, that’s a 41 per cent jump in property owner tracks compared to a year ago.
Homeowners are also visiting realestate.com.au’s Property Owner Dashboard more regularly.
In October, 600,000 owners visited their personalised dashboard, which is an increase of 43 per cent in the past year.
On the back of the realEstimate launch in early 2023, a surge of Australian homeowners have connected with realestate.com.au.
Almost 200,000 consumers became realestate.com.au members in October alone.
PropTrack’s market leading Automated Valuation Model (AVM) powers realEstimate.
Several proprietary models combine comparable sales plus hundreds of unique data points to deliver the AVM, which has reached world benchmark standards in terms of accuracy.
REA Group Chief Product and Audience Officer, Melina Cruickshank said engaging property owners is core to REA’s consumer strategy.
She said the unparalleled view REA Group has on the property market helped power the unique data-rich experiences owners want.
“The current generation of owners and sellers have very high expectations around immediacy and transparency,” Ms Cruickshank said.
“Our connection to owners is important so they feel informed, can stay close to the market and ultimately feel confident in their decisions.
“We know updated realEstimates via our platforms consistently drive fresh conversations with real estate agents.”
Ms Cruickshank said owners who tracked their properties were more likely to become sellers faster and seek finance advice.
“Highlighting the significance of tracking a property, an average of 40 per cent of listings are for properties that were tracked by their owner prior to taking it to market.”
Ms Cruickshank said the group’s large owner cohort provided real estate agents with access to a wide range of people at varying stages of the owning and selling journey.
“Exclusive features in our new Pro subscription are designed to enable agents to better leverage our highly engaged seller audience,” she said.
“Owners are particularly interested in following their local agent’s activity to inform choices and help them work out the best time to sell.”
