Maybe I misunderstood Janelle when we caught up last Friday. During the course of our conversation I was told that REA had an exciting release that will be launched within two weeks time. Janelle told me that she would not tell me exactly what it was – and that I would have to wait until it is released.

The number of photos that agents could upload on Domain being just five has caused much debate over the last ten years. Elizabeth even raised this very issue here last week. The “new” management team at Domain addressed this very issue and now agents can upload as many as 27 photographs. Yes – they have copied the REA initiative.

Domain now (or soon will) allow agents to upload property videos to their portal. I would then be surprised if REA did not copy that initiative. Given that at the end of the day it is about satisfying the agents requests for better services to both them and their clients.

Your understanding is not correct. While there continues to be incremental changes to http://www.realestate.com.au, there will be no new release of http://www.realestate.com.au in the new 2 weeks.

When we launch new things, I will be sure to let you all know.

Also – with reference to domain allowing 26 photos – realestate.com.au has been allowing that many for ~10 years – since launch.

Simon Baker
MD REA Group

Run Property has been fantastic for us as we have increased our property managemnet based on their lost managements. Kind of hoping they remain. They did have problems retaining staff – which resulted in zero service as they simply could not keep up with the day to day management demands. They did subsequently open up pod offices in suburbs from the agencies they acquired managements from. Which was a huge back track from their earlier business model – which I rejected as being feasible.

In my opinion it is a basket case as it continues to move back to the business principles that initially they stated were the “achilles heel” of smart property practices.

Not exactly sure where they are today, massive resignations and sackings of senior management. Not to mention significant losses of properties from the portfolio’s they acquired. Their share price (stepping into Tom’s domain) is sitting around $0.15. Well down from the $1.00 float price.

As for McGrath he got the “F” word confused as he chased float – only to later learn that franchise was his next option. My understanding is that he has franchised Manly, Wamberal and Neutral Bay – neither of which would have been huge money spinners.

I hear that the North Shore agencies are soon to be franchised also.

Many share an opinion that John backed the wrong horse with Run Corp – the share price reflects this.

Even more interesting is to see who they used to employ and where they are now !!

The loss of the Christies franchise hurt them.

He will bounce back in some shape or form. His influence to our industry years ago was huge. Just that in recent years he has made some huge errors of judgement(s).

I actually tried to rent a listing last year from Run….this is how I commented to one of my clients about them…..

I cannot believe that this specialist agency is just so poor at their job, they rarely have any photos with the listings I looked at – and if they did it was only one or two and mainly just road shots…… I left three messages with them and got one response – telling me I would only be able to look at the listing on available open homes and not at my convenience.

Now, if you are going to specialise – please do so, but show you are better than other ‘all you can eat’ agencies by actually doing things in a more professional manner.

PS: Just goes to show a good idea not executed well – is a bad idea!

PPS: Is McGrath agency doing ok still? It must be the most expensive agency in Australia to run! I know they had been losing allot of money, but wondered how the last few years have gone?

No Tom – I have nothing to do with Run. That is John McGrath’s baby. I rejected their business model to acquire our property management portfolio. Must have been a lucky guess !! Given that we saved a few million.

Obviously I can now understand your biase to REA, given that your 25,000 units constitute a serious proportion to your pending retirement.

Elizabeth, I am happy to advise that Domain will (or should from early next week) allow you to upload 26/27 photographs for each property on their portal. Also, they now have video uploads for each property which, too is a first for Australian property portals.

With regard to PBL our Head Office who has been involved with clandestine meetings with PBL, kindly on our behalf (not). Advised us that the soft launch would roll – out in late 2006. Market speculation is that it will happen this Monday – however I would not your breath.

But then again some would have you believe that I am on their panel also

Given that I know absolutely nothing about them – can obviously be most contagious for some. Maybe, this point should be referred to the “Master’s of the Universe.” LOL

On the subject though, I did buy 25,000 units of REA in 2003 for 32 cents. Given that you are so knowledgeble about most things, maybe you advise as to when a good time to sell would be?

The only thing running at Run Corp at the moment is their clients. You aren’t on their advisory panel as well, are you Robert (like Adore’s). Oh well, maybe I’ll just ‘assume’ that you are.

: )

Be careful mentioning Onetel to anyone from PBL if they ever come to see you about myhome.

You would not want to jinx it further.

E

Having met with them with a purpose of buying our property management it was a business plan that could never work. Which is evident in their share price today.

No doubt Tom – logged on to Business2 to learn more about real estate.