realbusinesses.com.au closing down

[xwdomains]

Just came across this today

http://www.rea-group.com/IRM/Compan...REAGroupannouncesclosureofrealbusinessescomau

wonder why they are shutting down you think it would be quite profitable part of their business

domain.com.au business section well sucks compared and so does commercialrealestate.com.au

I look at businesses for sale almost daily going to be frustrating using other sites

 

[Joel]

That's a shame. Well I guess it opens the door for some new competition.

My only gripe with realbusinesses.com.au was all the rubbish/franchise listing ads.

 

[m8e]

Maybe it wasn't very profitable for them?

If it was making mega bucks they would keep it going.

 

[plano]

It must be a real dog for them to close it down. Even if it wasn't making much profit you would think they would still keep it running just to fill out their portfolio and dominate the sector.

Is it possible it detracts from their product offering? I never used it myself but if it was mainly franchises they might have thought they would rather not be involved.

REA has been caught out badly recently by the Chinese listings website start-up juwai.com, founded by two Australian ex-REA employees.

REA is now playing catch up with myfun.com but this might work better as a Chinese language version of realestate.com.au rather than juwai.com which is a pure China-based global real estate listing website.

The relevance of all this is that REA might be concerned about the resources it takes to operate realbusinesses when they fail to identify a huge opportunity to expand their core business into the Chinese-speaking market, and have decided realbusinesses is not worth the worry.

Still, if any management issues are not causing problems in other parts of the group, and it's making a profit, you would think it is a logical part of their product portfolio.

 

[James]

I was talking to some one with a competing business in this space recently, I guess their is business but it seems like a tough market.

James.