We find ourselves in exciting times, in terms of innovation and change.

The majority of us have changed the way they go about their lives. The majority of companies have had to change the way they go about their business in order to survive. A good example of this is realestate.com.au, who recently announced a new product called Pay on Sale.

The name is self explanatory, you don’t have to pay for your listing until the property sells.

In today’s marketplace, they faced a changed in sentiment and one of the first things to go was the willingness to fork up 3 thousand dollars just for the privilege to list your property on their website. So rather than feeling sorry for yourself and try to ride the storm out playing it safe, there is always the option to go on the attack.

This is exactly what realestate.com.au did with the new product offering, which may very well contribute to a quicker recovery of the property market activity. I see this as a great opportunity for them to make this new product a permanent one, next to the current offerings.

When the Covid-19 situation passes, they may very well have found that this new product hits the jackpot and allows them to charge more for their listings than before, but only if the property sells. If I had the opportunity to choose between paying $3 thousand dollar upfront, or nothing upfront but $5 thousand upon sale, I probably would go for the latter.