Domain Group to beef up South Australian presence

Fairfax Media’s Domain Group property division will launch a new digital real estate marketing business in South Australia.

Designed to take on the dominant realestate.com.au, the new venture will be a 50/50 venture between Fairfax and an as yet undisclosed group of South Australian real estate agents.

SA agents are being invited to register for shares in the new business, based on an assessment of advertising spend with the business.

The model is similar to the Melbourne real estate magazine and digital group, Metro Media Publishing, which was founded by Domain chief executive Antony Catalano in partnership with local estate agents with half-ownership by Fairfax.

“Building on the significant success that Fairfax has enjoyed with this approach in Victoria, the intention is to roll out this model in South Australia,” Catalano said in a letter to South Australian real estate agents referred to in a Fairfax Media report.