News
August 29, 2025
Domain’s new owner targets realestate.com for ‘shaking down’ Australians
Days after taking the keys at Domain, the boss of its US parent company, CoStar, says he is ready to make life uncomfortable for News Corp’s crown jewel.
**Domain's New Owner Targets Realestate.com for 'Shaking Down' Australians**
Brace yourselves for a showdown in the Australian real estate advertising market. Just days after officially taking the reins at Domain, CoStar CEO Andy Florance has made it clear he's ready to challenge the dominance of News Corp's realestate.com.au, accusing the platform of "shaking down" Australians with high advertising prices.
CoStar, the US-based parent company of Domain, completed its acquisition of the Australian property portal recently. Florance's comments signal a significant shift in strategy, suggesting a more aggressive approach to capturing market share from its rival.
The accusation of "shaking down" Australians points to CoStar's belief that realestate.com.au is charging excessive fees to real estate agents for listing properties on its platform. This cost, they argue, is ultimately passed on to Australian homeowners and renters. While the specific details of CoStar's plan to address these concerns remain under wraps, Florance's strong words suggest a commitment to disrupting the existing market dynamics.
Industry analysts predict CoStar might introduce more competitive pricing models, offer innovative advertising solutions, or invest heavily in technology to enhance Domain's user experience and attract more agents and consumers. The move could spark a price war, potentially benefiting real estate agents who may be able to negotiate better deals for advertising their listings.
The Australian real estate advertising market is highly lucrative, with realestate.com.au holding a significant lead. Overcoming this established presence will be a considerable challenge for Domain and CoStar. However, Florance’s bold statement suggests a willingness to invest and compete aggressively to provide Australians with a viable alternative. This could lead to a more dynamic and competitive market, potentially resulting in lower advertising costs and improved services for both agents and the public. The coming months will be crucial in determining whether Domain can successfully challenge the status quo and deliver on its promise of a fairer market.
Brace yourselves for a showdown in the Australian real estate advertising market. Just days after officially taking the reins at Domain, CoStar CEO Andy Florance has made it clear he's ready to challenge the dominance of News Corp's realestate.com.au, accusing the platform of "shaking down" Australians with high advertising prices.
CoStar, the US-based parent company of Domain, completed its acquisition of the Australian property portal recently. Florance's comments signal a significant shift in strategy, suggesting a more aggressive approach to capturing market share from its rival.
The accusation of "shaking down" Australians points to CoStar's belief that realestate.com.au is charging excessive fees to real estate agents for listing properties on its platform. This cost, they argue, is ultimately passed on to Australian homeowners and renters. While the specific details of CoStar's plan to address these concerns remain under wraps, Florance's strong words suggest a commitment to disrupting the existing market dynamics.
Industry analysts predict CoStar might introduce more competitive pricing models, offer innovative advertising solutions, or invest heavily in technology to enhance Domain's user experience and attract more agents and consumers. The move could spark a price war, potentially benefiting real estate agents who may be able to negotiate better deals for advertising their listings.
The Australian real estate advertising market is highly lucrative, with realestate.com.au holding a significant lead. Overcoming this established presence will be a considerable challenge for Domain and CoStar. However, Florance’s bold statement suggests a willingness to invest and compete aggressively to provide Australians with a viable alternative. This could lead to a more dynamic and competitive market, potentially resulting in lower advertising costs and improved services for both agents and the public. The coming months will be crucial in determining whether Domain can successfully challenge the status quo and deliver on its promise of a fairer market.
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Business