ACCC probe News Corp’s REA Group over pricing concerns
The REA Group is under investigation by the Australian competition watchdog over its pricing model.
REA Group runs Australia’s biggest property sales platform, realestate.com.au, which is visited by 12.3 million users each month. The $32 billion listed company — which controlled by News Corp — confirmed in an ASX announcement that it is “providing information on certain subscription offerings” to the ACCC.
Realestate.com.au charges real estate agents a subscription fee — for example $59/month per agent for the base plan — with many listings charged on top of that. Prices for featured listings in expensive suburbs can range up to $5000.