Australian real estate

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Real estate within Australia is dominated by large property portals and large franchise groups of real estate agents. Statistics published by the Real Estate Institute of Australia indicate that 585,000 properties sold in the period 2004/05 whilst 1,377,709 properties were under management (rented). Real Estate agents and property developers account for approximately 98.6% of all property sales. Property buyers and sellers relied on large property portals and real estate agents to facilitate their property enquiries and transactions. The two largest of theses property portals are http://www.realestate.com.au and http://www.domain.com.au which are claiming 3,700,000 and 2,000,000 visitors respectively each month. The Internet has become the major source of enquiry, replacing traditional media such as newspapers. This has seen the emergence of some "for sale by owner" websites such as http://www.zeroagents.com.au which can facilitate property sales by owners without them requiring to use a real estate agent.^[1]