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Over recent weeks the online real estate portal revealed it has added 32 new strategic partners to its digital advertising and membership offering, Homely Plus.
Co-chief executive officer and co-founder, Jason Spencer, said: “We are thrilled by the overwhelming response from advertisers eager to join our VPA advertising model.
Among the strategic partners recently welcomed by Homely are RT Edgar Manningham and Boroondara, and Belle Property Armadale.
Mr Spencer believes the recent spike in memberships “further reinforce” the brand’s commitment to offering incredible reach in the property advertising space at a time when competitors’ prices continue to rise.
The 32 new strategic partners join the existing contingent of over 685 brands who’ve taken up the benefits of Homely Plus. The program offers real estate agents cost-effective digital advertising memberships on the real estate portal’s website.
According to its company statement, Homely believes the portal’s point of difference lies in its user-generated content, with over 1 million pieces of content ranging from suburb ratings and reviews through to Q&As hosted on the portal.
“VPA in Australia is amongst the most expensive in the world,” Mr Spencer explained.
“Our vision with Homely Plus has always been to offer a highly competitive advertising product that helps vendors promote their properties to a great pool of potential buyers in a cost-effective way,” he added.
“In the current economic climate, this has never been more relevant,” he continued before adding “the industry understands that it’s time for change”.
Earlier this month, Homely reported a 20.5 per cent increase in revenue year-over-year.
At the time, the firm described the figures as highlighting its “operational resilience and growth in a challenging economic environment”.
Speaking about the results, Mr Spencer said: “The real estate industry continues to grapple with uncertainties, yet Homely has once again proven its ability to thrive in challenging conditions.”
He added the company’s “strong revenue growth is a direct result of our team’s commitment to growth, innovation and focus on providing value to our customers in an environment where our competitors continue to increase their prices.”
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