Real Estate Investar Reaches $1 million in Cash Receipts for December Quarter

Real Estate Investar is proud to announce that they have increased their member base to 250, 124 at the end of the December quarter for 2016, meaning that they achieved its initial public offer (IPO) forecast of 250, 000 members.

This represented 64.1% growth year on year, more importantly, creating profile and engagement data growth increased by 218%.

The Company expects from this that new membership will drive for strong growth in property sales for commissions in the second half of the FY17.

The Company has recently commenced a promotion of a new premium membership focused on, assisting members to purchase investment grade properties and generate property sales commission revenues.

Clint Greaves, CEO, commented: “With our new membership offering and key partnerships in place, we are looking forward to a strong second half to FY2017 where we will continue to increase our engagement with our significant member base and most importantly increase revenue from commissions associated with the direct sale of investment property”.

FY17 initiatives

The focus for REI is now to drive revenue growth with a strategy based on the following key activities:

• Increase the number of members using REI products and services;
• Increase the volume of engagement and profile data captured around each member to allow for better matching of investment grade property;
• Convert high quality members into Premium Membership customers;
• Grow sales of investment grade property to all members to increase commission revenues;
• Extract complimentary property investing related services revenues; and
• Look for further Australian and New Zealand organic and acquisitive expansion opportunities.