According to Frost & Sullivan’s latest report, Australia Online Classifieds Advertising Market 2010, Google Maps’ launch of real estate listings could pose a threat to Australia’s real estate portals.
Frost & Sullivan’s report goes on to say that a second issue in online real estate classifieds is the potential emergence of “significant” For Sale By Owner websites. “These sites already exist, however their impact on the market to date is limited with over 95 per cent of home sellers using an agent to market their property,” the company says.
“[Google Maps real estate] could challenge the established online real estate publishers if a critical mass of estate agents shift online classifieds advertising spend to the alternative portals that list on Google Maps, or even upload listings directly onto Google,” the company says.
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