REA Group is joining the legions of publishers making its platforms available via the Apple Smart Watch as it readies a realestate.com.au app in time for the 24 April launch.
The app, which REA promises will “deliver a whole new level of personalisation” allows property hunters to be alerted to new properties for sale in their designated area, to add an inspection to the watch’s calendar and to make voice notes which can be saved to a realestate.com.au account.
REA is not the first company which has made smart watch forays in Australia. KIA last year hired local agency Mnet to develop a game for the Australian Open available on smartwatches.
Mnet CEO Travis Johnson explained that the KIA app had been downloaded “hundreds of times”, in line with expectations given that the market is largely untapped in Australia.
Johnson believes that Apple “will no doubt go on to command the largest market share in the sector, but will continue to compete with hundreds of players.” The barrier to entry for most people, he said, "is price point."
The Apple Watch will cost anywhere between AU$499 for the ‘Sport’ version to AU$24,000 for the high-end luxury gold-carat item.
Johnson suggested that brands are making early attempts at moving into this sphere, not because of the “numbers” but because of three things: “innovation credentials, building knowledge about consumer behaviour and data.”
Johnson also believes that REA has a challenge on its hands: “It comes down to preferences and settings,” warning that the level of property updates will prove if it is a “utility or an interruption”.
REA, meanwhile, would not be drawn on how much investment it has ploughed into the app’s development, or how much ongoing maintenance will be necessary. Some figures suggested that set-up costs could be as low as AU$20,000, but yearly data gathering, tech updates and improvements could go to AU$500,000.
REA Group chief product officer, Henry Ruiz, said: “We’ve created an app that gives real estate agents a new way to effectively market their properties to audiences in the locality of their property.”
The ASX-listed Melbourne based firm has upped its activities in technology and data of late. Last November it sold off its valuable first party data – allowing advertisers and their digital trading desks to more accurately target consumers in campaigns – and partnered up with programmatic video provider TubeMogul to help use its audience data to present more relevant video advertising.
Email Nicola at nicolariches@yaffa.com.au.