PHOTO: Amazon is an on-line retailer that has turned into a global success story, acquiring an extremely strong foothold in international markets all across the planet.
Our list of potential challengers to REA’s dominance in the Australian Real Estate sector continues with Amazon – one of the largest companies on the planet with resources that easily eclipse those of REA. While the investments made by Amazon into real estate at this stage are akin to merely dipping in a toe to test the waters, if they choose to allocate budget to the Australian property sector, they have the scale to drastically impact REA’s dominance and completely alter the portal space.
As we have been reporting, Realestate.com.au is facing legitimate challenges from a variety of diverse, tech-enabled businesses. One of the primary threats to REA has emerged in the form of Amazon.
Amazon is an on-line retailer that has turned into a global success story, acquiring an extremely strong foothold in international markets all across the planet.
From books, brown and white goods, toys, technology and a lengthy list of other products shipped worldwide – as well as an on-demand streaming TV and movie service competing with the likes of Netflix – Amazon has established itself as the 3rd largest company in the world in 2019 by market value, worth a staggering USD $916.1 billion.
But how are they moving in on the real estate market?
ESTABLISHING STRONG PARTNERSHIPS
Amazon’s strategy for entering the real estate industry has been measured and spread across a very select number of ventures.
Perhaps the most widely reported of these is their partnership with Realogy, the company behind brands such as Century 21, Sotheby’s International Realty and Coldwell Banker. Realogy provides marketing services, mentorship and training, general sales support systems, services and tools to some of the largest real estate agencies and brokerages in North America.
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