Vendor Paid Markets

Edmund Keith and Harvey Hancock are joined by former REA Group CEO, Simon Baker to discuss the concept of vendor-paid markets in the real estate industry. They chat about the advantages of vendor paid markets for real estate portals, such as increased revenue and the ability to leverage agents as an outsourced sales force. They also discuss the challenges of implementing vendor paid markets and the cultural factors that contribute to their success or failure. The episode concludes with a discussion on the value of extra visibility in vendor paid markets. 00:00 - Introduction 00:26 - Explanation of Vendor Paid Markets 01:57 - Success of Hemnet in a Vendor Paid Market 03:06 - Advantages of Vendor Paid Markets for Real Estate Portals 06:14 - Working with Multiple Portals in Vendor Paid Markets 08:16 - Auctioning Properties in Vendor Paid Markets 10:34 - Maximizing Revenue in Vendor Paid Markets 11:57 - Tiered System in Vendor Paid Markets 14:14 - Origins of Vendor Paid Markets 18:24 - Regulatory Intervention in Vendor Paid Markets 19:55 - Challenges of Implementing Vendor Paid Markets 23:48 - Cultural Factors in Vendor Paid Markets 27:29 - Value of Extra Visibility in Vendor Paid Markets 27:49 - Conclusion