These companies, which operate from the same office in Cremorne, Melbourne, are combined into a single entity called Real Estate View, and could launch as early as this month. Catalano has a nearly 30% stake in real estate tech start-up Propic and has a stake in business relationship service Beevo.
Any deal with a media company would give the new real estate branch the ability to promote itself on a large scale throughout metropolitan and regional Australia.
“The plan has always been to build a diversified media, digital and agent real estate services business,” Catalano told that masthead in January. “In my opinion, the total transaction value of real estate in Australia exceeds $250 billion a year. We have a good chance of attracting new audiences and delivering a more competitive offer for consumers and a bigger and better full lifecycle offer for buyers, sellers and tenants.
Catalano initially intended to wrap his entities in a shell company resulting from the sale of regional broadcaster Prime, but the sources said those plans had stalled. An ASX listing is still on the cards and could take place later this year, but is expected to exclude the publishing division, Australian Community Media