REA Group Focuses on Mortgage Broking with Proposal to Purchase Publicly-Traded Mortgage Choice

March 29, 2021

Mortgage Choice, a publicly-listed mortgage-broking firm, has received a proposal for acquisition from REA Group. REA said that the choice would help accelerate REA’s plans for its own mortgage broking business. 

REA Group released a statement to the ASX about the proposal to Mortgage Choice. The statement said the move is in-line with REA’s Smartline business, a mortgage broking operation that was announced a year ago. Mortgage Choice would do nothing but aid in REA’s commitment to offering the best mortgage options for its customers. 

Smartline CEO Sam Boer added: 

“Like Smartline, Mortgage Choice is grounded in strong values, a commitment to innovation, value-added client services, and has a talented and passionate team. 

“We are looking forward to working with a like-minded organization and welcoming Mortgage Choice into the REA family.”

REA Group CEO Owen Wilson explained that the proposed agreement was “an exciting development that will bring together our well-established Smartline business and franchisee network with the complementary Mortgage Choice organization and its significant broker footprint”. 

Wilson said:

“Each month, 12 million Australians turn to realestate.com.au to search, find and finance their next property.

“Together with our Smartline business, having Mortgage Choice join the REA network will enable us to provide our audience with an even greater number of expert brokers to meet their financing needs.”

REA Group must wait for a number of conditions to be met before the proposal is set in stone. One such condition includes Mortgage Choice shareholders’ approval, but the move is expected to be completed within three months. 

Boer concluded:

“Between now and the completion of the acquisition there will be no change to the service, support or products our clients receive from Smartline.

“Once the transaction completes we look forward to working with Mortgage Choice to add further value to our clients, franchisees and business partners.”

March 29, 2021
Victoria has been writing about property portals and marketplace sites for Online Marketplaces for over 3 years. She is also our resident artist and is responsible for all of the infographic content on the site.

Subscribe to our mailing list to get the famous, free Friday newsletter!

News and analysis to help build better online marketplace businesses, in your inbox, every Friday

Related News

Hemnet Building With Logo Editado
​Hemnet Delivers Strong Q1 Results Amidst Product Innovation and Market Momentum​

Sweden's leading property portal, Hemnet, has reported impressive financial results for the first quarter of 2025, showcasing the robust growth...

Read More
Product Update 2025Apr25 1
Product and Services Roundup: Loopnet, Finn.no, REA Group, Rightmove, Housing.com, AtHome.jp

This week's Product Roundup is flush with some of the biggest names in global real estate. We'll start in Europe,...

Read More
Offerpad Opendoor Stock 2
American iBuyers Opendoor and Offerpad Both Face Delisting From Stock Exchange

U.S.-based iBuying firm Offerpad has received a notice from the New York Stock Exchange regarding non-compliance with continued listing standards....

Read More
Untitled Design 9 3
Zillow Begins Rolling Back its Two-Tab Search Experience

Zillow has begun rolling out a major update to its search experience, moving away from a rule it once implemented...

Read More

Editor's Pick