Real estate agents have hit out at the market dominance of realestate.com.au, which is majority owned by the News Corp-controlled REA Group, saying the portal is “price gouging” as a result of its effective monopoly.
Multiple agency directors, many of whom fear commercial retribution if they publicly criticise the $27bn behemoth, say the company’s tactics and pricing structures have become more aggressive in recent years because of its dominance in the Australian property market.
