In response to the pandemic earlier this year, leading real estate portals reacted by rolling out discounts and new products. Now, the results are in — and here’s the revenue impact.
Earlier this year, I outlined the ways in which the world’s leading real estate portals were reacting to the pandemic, including significant customer discounts. The results are in, and the revenue impact to portals is quite varied.
Taking a hit to revenue
Top of the list is Rightmove, the U.K.’s leading portal, which saw a massive 37 percent drop in revenue for the first six months of 2020 compared to the same period in 2019. That’s 10 times greater than any other portal. The others saw more modest revenue drops of a few percentage points, with some, like Germany’s ImmoScout24 and The Netherlands’ Funda, managing to grow revenue.