14 Jan

US Update - Significant uplift in agent reviews in US

RMA Global Limited ABN 69 169 102 523 Level 1, 120 Balmain Street Cremorne VIC 3121 ASX Announcement 1 4 January 202 2 Significant uplift in Agent Reviews in US US real estate agents continue to embrace the RMA platform. At 31 December 2021 there were c.176,000 US agents on the platform, up 76% YoY. Once on the platform, agents are accumulating reviews against their profile at a faster rate. Over 200,000 US reviews were received in 2021, a YoY increase of c.330% for a tot al of 283,000 reviews at year end. Pleasingly, 70,000 reviews were received in November and December. Some of this surge of reviews is thought to associated with the upcoming Agent of the Year Awards. This review growth has continued in January and the Com pany now has over 300,000 US reviews. Reviews are a lead indicator of rev enue . By comparison, in Australia, there are c.45,000 agent profiles on the platform with c.1.17 million reviews. Therefore the average agent has over 20 reviews. Agents with multipl e reviews are significantly invested in building their online profile and more likely to pay to use the platform. We expect to be able to extrapolate the Australian experience in the US (see table on next page) . As agents engage with the platform and conti nue selling properties, reviews will significantly outpac e agents joining. T he more reviews an agent has on their profile , the more valuable their profile is to them and to property owners looking to employ an agent . 14 18 28 39 45 57 75 100 112 126 146 176 8 9 13 17 23 30 51 79 105 133 185 283 - 20 40 60 80 100 120 140 160 180 200 220 240 260 280 300 - 20 40 60 80 100 120 140 160 180 200 220 240 260 280 300 3Q FY19 4Q FY19 1Q FY20 2Q FY20 3Q FY20 4Q FY20 1Q FY21 2Q FY21 3Q FY21 4Q FY21 1Q FY22 2Q FY22 Reviews '000 Agents on the platform '000 Agents on the platform vs reviews (cumulative) Agents on the platform (LHS) Reviews (RHS) *as at 12 January 2021 RMA Global Limited ABN 69 169 102 523 Level 1, 120 Balmain Street Cremorne VIC 3121 The Chairman of RMA, David Williams, said, “ While there are more than 1. 5 million agents ( 1 ) in the US, w e are focused on the c. 300 ,000 US agents who sell c.80% of all properties. We have been successful with this strategy in Australia an d will be successful i n the US .” While the U S growth is impressive, there is still much to achieve in the US. In the table below we have tried to reflect the potential upside in the US by extrapolating the Australian experience. “ The anecdotal evidence is that once an agent has more than three reviews , they embrace the benefits of the platform, engage more with it by asking for more reviews and ultimately take up a paid subscription . We expect the review growth in the US to be more exponential than linear ,” said CEO, Michael Davey. “The be st agents collect reviews to build their profile , then take a paid subscription, and then use paid platform products like Promoter and Promoter for Listings to better market themselves through the platform and social media, ” said Mr. Davey . “ The focus i n the US is to get more agents on the platform. However, the priority is to increase the number of reviews as this is the lead indicator of subscriptio n and platform revenue. Our vision is that RMA will be a ‘must have’ marketing tool for every active agent in the US, Australia and New Zealand , ” Mr. Williams said. Authorised for release by the Company Secretary F urther information : Michael Davey David Williams Chief Executive Officer Chairman Mobile +61 400 888 120 Mobile +61 414 383 593 michael.davey@ratemyagent.com dwilliams@kidder.com.au 1 National Association of Realtors Business Funnel Australia USA AU extrapolation to US Market 0 Active Agents* 37,000 858,000 Total claimed profiles** 45,000 176,000 Active agents with a claimed profile 26,500 155,000 615,000 Number of reviews 1,170,000 283,000 27,144,000 Active agents under a paid subscription 12,000 2,600 278,000 Average Promoter campaigns per month 630 110 15,000 * Active agents are agents with at least 1 sale in the last 12 m onths based on RMA data **The Australian database history goes back further than what we have for the US, so proportionately m ore agents have exited the industry RMA Global Limited ABN 69 169 102 523 Level 1, 120 Balmain Street Cremorne VIC 3121 About RMA Global Limited RMA is an online digital marketing business providing extensive data on for - sale and sold residential property, sale results for individual residential real estate agents and agencies, as well as reviews of agent performance from vendors and buyers of resi dential real estate. This data can be used by agents to build their profile to market themselves, or by vendors to compare agents and find an agent or agency to sell their property. RMA currently operates in Australia, New Zealand and the USA.
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