{"id":30861,"date":"2021-02-19T10:52:25","date_gmt":"2021-02-18T21:52:25","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=30861"},"modified":"2021-02-19T10:52:25","modified_gmt":"2021-02-18T21:52:25","slug":"what-facebooks-ban-means-for-property","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/what-facebooks-ban-means-for-property\/","title":{"rendered":"What Facebook\u2019s ban means for property"},"content":{"rendered":"

PHOTO: Facebook media ban in Australia<\/strong><\/p>\n

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The real estate industry is not immune to Facebook\u2019s latest decision to block the sharing and viewing of local and international news content in Australia.<\/p>\n<\/div>\n<\/div>\n

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As of Thursday morning, Facebook has implemented a ban on \u201cpublishers and people in Australia from sharing or viewing\u201d news, including property listings shared by platforms realestate.com.au\u00a0and Domain.<\/p>\n

While Facebook\u2019s news ban comes amid Australia\u2019s determination to push through a new media bargaining law, the social media platform appears to have adopted a blanket approach when determining the meaning of \u201cnews content\u201d.<\/p>\n

As such, listings platforms\u00a0realestate.com.au\u00a0and Domain having been classed as \u201cnews\u201d providers, and therefore links from their sites \u2013 and consequently, listings \u2013 have been stripped from the platform.<\/p>\n

In an emailed response to SPI\u2019s sister brand nestegg, a company spokesperson for Facebook said: \u201cThe actions we\u2019re taking are focused on restricting publishers and people in Australia from sharing or viewing Australian and international news content.<\/p>\n

\u201cAs the law does not provide clear guidance on the definition of news content, we have taken a broad definition in order to respect the law as drafted. However, we will reverse any pages that are inadvertently impacted,\u201d the spokesperson added.<\/p>\n

According to Angel Zhong, an expert from RMIT University, the absence of news updates on Facebook will make it hard for investors to stay up to date with the latest developments in the market and the economy.<\/p>\n

Speaking about the property market in particular, Ms Zhong said:\u00a0\u201cI would expect that this will cause delayed reaction and information asymmetry in property investing.\u201d<\/p>\n

Stay calm<\/strong><\/p>\n

Responding to news of the ban, Domain revealed it is in direct discussions with Facebook and through its major shareholder Nine.<\/p>\n

\u201cWe are hopeful that a resolution will be found quickly that is mutually beneficial to both parties,\u201d a spokesperson for Domain said.<\/p>\n

\u201cUnfortunately, Facebook has taken this position without prior notice, and with limited customer support,\u201d the listing platform added.<\/p>\n<\/div>\n<\/div>\n

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