Last week Domain and RateMyAgent announced a reciprocal partnership which links review data with Domains Listing Data. Domain’s Chief Operating Officer Tony Blamey explains the thinking behind the partnership and how it will work.
Domain recently announced a partnership with RateMyAgent, in a bid to help amplify agent recommendations to a larger audience.
The partnership will allow Domain Platinum and RateMyAgent subscribers to get their most recent reviews published on their Domain profile.
The partnership is one that Domain Chief Commercial Officer Tony Blamey believes will add considerable value to both agents and vendors alike.
HOW DOES IT WORK?
Commencing this week, the partnership is intended to be a way for both parties to provide values to each other.
“What it means is that both buyers and sellers will be able to get more information about the agent they’re interested in using and that will give them more confidence around the agent.”
For agents that are Domain ‘Platinum’ customers or RateMyAgent paid subscribers, their most recent reviews or recommendations will be published on the Agent’s Profile on Domain.
This also works in reverse as current listings will display on RateMyAgent for paid subscribers.
For those agents that aren’t Platinum customers of Domain or RateMyAgent members, profiles will still be visible, but won’t link to any RateMyAgent reviews or recommendations.
EXPERIENCE IN PROCESSES
Getting vendors to rate agents on every platform right now is a challenging task for agents, however, it’s one of the reasons Mr Blamey says Domain chose RateMyAgent as a partner.
“They’ve certainly built IP and process around gaining those reviews, recommendations and ratings.”
RateMyAgent currently has something in the vicinity of 680,000 verified reviews.
Moving forward, Mr Blamey says Domain will maintain a focus on helping agents build trust through displaying reviews but he says the future focus would not be lead generation.
“We’re looking at things through the lens of how do we help agents win new listings, secure vendor paid advertising, transact properties faster and achieve an optimum outcome?
“The recommendations piece with RateMyAgent helps by providing information to potential vendors to help them with listings.”
PROVIDING DATA INSIGHTS
Mr Blamey says Domain will be rolling out additional tools to Platinum customers in a bid to help assist them in customer conversations in the future.
“We’re in the process of starting to roll out a new data solution called live market insights; again that will be offered to our Platinum-level customers.”
It’s been almost a year since the Nine Network acquired Fairfax and as a result, took a majority shareholding in Domain and there has been some activity there.
“We’ve launched the Your Domain TV show that is on Nine’s main channel on a Saturday morning and it’s a very property-focused show under the Domain brand that’s been running through a couple of months now and exceeding expectations.
“We also have Domain editorial content on Nine, so we will continue to leverage that audience.
“Our expectations are that will continue over the next calendar year as well.
“So that’s certainly something that we see is as helping grow the Domain brand using those Nine assets.”