Sustainability Report 2020 - REA Group

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Sustainability Report 2020 - REA Group


Sustainability Report 2020
Sustainability Report 2020 - REA Group
Introduction    Governance    Social      Environment


Introduction                              Social
About REA Group                      3   Diversity and inclusion                  30

2020 highlights                     4    Workplace health, safety and wellbeing   33

CEO message                          5   Talent development and management 34

Materiality assessment              6    Employee Engagement                      38

Bushfires in Australia              8    Customer satisfaction                    42

COVID-199                                Community investment                     45

Governance                                Environment
Ethics and integrity                11   Climate change                           52

Risk management                     15   Sustainability working group             53

Cyber security                      19   Sustainable buildings                    53

Innovation                          22   Global Reporting Initiative
Responsible marketing               25   FY20 content index                       54
Sustainable procurement             26
                                          Limited Assurance
Human rights and labour standards   27
                                          Independent Limited Assurance Report 62

2 | REA Group
Sustainability Report 2020 - REA Group
Introduction   Governance   Social     Environment

About REA Group

Headquartered in                      REA Group operates Australia’s leading
                                      residential and commercial property
                                                                                  franchise group, and Hometrack, a leading
                                                                                  provider of property data services.
Richmond VIC, Australia,              websites and              REA Group also holds a significant
                             It also operates     shareholding in Move Inc., which primarily
REA Group Ltd ACN                     the leading website dedicated to share      operates® in the United
068 349 066 (ASX:REA)                 property,, and Spacely,    States,, which operates property
                                      a short-term commercial and coworking       portals, and
is a multinational digital            property website. In Asia, REA Group located in Singapore and
advertising business                  owns a market-leading property portal       Indonesia. In addition, the Group holds a
                                      in Malaysia ( and          significant interest in Elara Technologies
specialising in property              prominent property portals in Hong Kong     Pte Ltd, which operates,
                                      ( and Thailand   and in India.
                                      (, as well as the
                                      Chinese site, REA Group owns
                                      Smartline, an Australian mortgage broking

3 | REA Group
Sustainability Report 2020 - REA Group
Introduction      Governance      Social      Environment

2020 highlights

Customer satisfaction                       Environment
COVID-19 resulted in our teams quickly      REA Group’s total quantified FY20
mobilising to deliver new product           carbon footprint totalled 5,607 tonnes of
innovations to help our customers and       carbon dioxide equivalent. We have set
the property industry adapt to the new      science-based aligned targets to reduce
rules. This included digital inspections,   our footprint by 2030. In FY21, we will
online auctions, inspection bookings and    introduce a carbon emissions reduction
COVID-19 property market insights to keep   action plan and offset our emissions to
the industry informed.                      become certified carbon neutral.

Data protection, privacy                    Innovation                                    Ethics and integrity
and cyber security                          In May 2020, we held our first entirely       We published our first Voluntary Tax
We increased investment in our Cyber        virtual REAio (hackathon) due to COVID-19     Transparency report in FY20, providing
Security team with new operational,         and saw great national engagement, with a     a summary of taxes paid, collected and
engineering and advisory capability.        product shipped that following weekend!       remitted.

                                            Diversity and inclusion                       Workplace health,
                                            Of our people across Australia and Asia,      safety and wellbeing
                                            50.1% identify as female and 49.9% identify   We provided our people with the option
                                            as male. Our Executive Leadership Team        to take part in a number of health and
                                            also has 50:50 gender parity.                 wellbeing activities, including Month of
                                                                                          Mindfulness, Mental Health Awareness
                                                                                          Month, RU OK Day and a Resilience series.

Community investment                        Employee engagement
In FY20, the National Rapid Rehousing       In FY20, our engagement scores in H1
Fund, established by Launch Housing and     were 78% for Australia (participation 89%)
REA Group in 2015, provided financial       and 79% for Asia (participation 94%). In
support to 686 women and children           H2, we conducted a weekly ‘belief’ pulse
at risk of homelessness, to establish or    survey over 14 weeks with an average
maintain safe, secure housing free of       positive sentiment score of 92%.
violence, across Australia.

4 | REA Group
Sustainability Report 2020 - REA Group
Introduction   Governance   Social      Environment

CEO message

Welcome to our second                 Our people provide us with a competitive
                                      edge, and even when faced with the
                                                                                    Housing, Orange Sky Australia and
                                                                                    The Big Issue during FY20.
Sustainability Report.                challenges of FY20, we have made terrific
                                                                                    On the environmental front, in FY20 we
                                      progress across the areas of Environment,
                                                                                    calculated REA Group’s carbon footprint.
When I reflect on the                 Social and Governance (ESG). New
                                      ways of operating, combined with new
                                                                                    With this information, we have set
last 12 months, the                   products, features and support measures
                                                                                    science-based aligned targets to reduce
                                                                                    our footprint and play our part in limiting
                                      were all successfully introduced to support
overwhelming feeling                  our people, customers, consumers and
                                                                                    global warming. We will also be offsetting
                                                                                    our FY20 footprint to become certified
I have is pride for the               the communities in which we operate.
                                                                                    carbon neutral. You can read more about
way REA Group’s people                Looking through the ESG lens, the key         our carbon reduction commitments within
                                      to our success in FY20 was the ability        the Environment section of this report.
have successfully                     to effectively implement our continuity
                                                                                    We’ve made improvements to our
navigated a year                      plans developed as part of our Business
                                                                                    Sustainability Report this year, which has
                                      Continuity and Resilience Framework,
unlike any other, while               to quickly move our people to work
                                                                                    been prepared in accordance with the
                                                                                    Global Reporting Initiative (GRI) Standards:
delivering ongoing                    remotely. We did so with the knowledge
                                                                                    Core option. In addition, we engaged
                                      that we could continue to run our critical
value to our customers,               processes and serve our customers with
                                                                                    independent professional services firm
                                                                                    KPMG to undertake Limited Assurance
consumers and                         minimal interruption.
                                                                                    over selected information within this

shareholders                          A number of key highlights were delivered     Report. KPMG’s assurance opinion is
                                                                                    provided on page 62.
                                      throughout the year, including the
                                      expansion of our Cyber Security team,
                                                                                    As we enter a new decade, we look
                                      progress towards our gender diversity
                                                                                    forward to our increased focus on
                                      targets and the steps we’ve taken to
                                                                                    ESG being a driving force behind
                                      minimise our environmental footprint.
                                                                                    REA Group’s ongoing success. We
                                      Our focus on gender diversity is              appreciate you taking the time to read
                                      unwavering, with 50.1% of our people          our FY20 Sustainability Report and
                                      across Australia and Asia identifying         welcome any feedback via our mailbox:
                                      as female, and 49.9% of our people
                                      identifying as male. Our target to have
                                      50:50 gender representation across
                                      REA Group’s Leadership Group (RLG)
                                      in Australia has been achieved.

                                      We remain humbled by the work of our
                                      charity partners, who play a material role    Owen Wilson
                                      in driving and advocating for scalable        Chief Executive Officer
                                      solutions to end homelessness. We were
                                      proud to extend our financial and in-kind
                                      support of our charity partners Launch

5 | REA Group
Sustainability Report 2020 - REA Group
Introduction       Governance      Social                               Environment


In FY19, REA Group                               Materiality matrix
undertook a materiality                                                    VERY HIGH

assessment to establish
                                                                                                                                                                                         Diversity &
                                                                                                                                                                Ethics & Integrity
                                                                           HIGH                                                                                                             Data
the most relevant areas                                                                                                                            Human             Innovation
                                                                                                                                                                                            & Security
of focus related to                                                        MODERATE
                                                                                                                                                                    Community Partnerships
                                                                                                                                                    Customer Satisfaction            HS&W
sustainability                                                                                                                                     Employee Engagement
                                                                                                                                                                                       Service Quality
                                                                                                                                                                                       & Safety
                                                                                                                                 Sustainable Procurement
We reviewed the findings of the materiality
                                              Importance to stakeholders

                                                                                                                                                           Responsible     Talent
assessment internally at the beginning of                                                                                                                  Marketing       Development

FY20 against the activity of our business
over the last 12 months. From this, we
concluded that the top eight issues
                                                                                                                 Public Policy              Responsible
remain the most relevant and in the right                                                                                                   Use of Media
order for our business to focus on.
The issues were determined as part                                                               Climate Change Adaptation

of a review process undertaken by an
                                                                                                 GHG Emissions
independent sustainability consultancy.                                    LOW
It included researching issues relevant
to REA Group and benchmarking our
sustainability performance against peers,
competitors and leaders.

The issues were prioritised following
internal and external issue surveys,
interviews and workshops. The data                                                                     Current or potential impact on business
gathered was then analysed and                                             SOCIAL
consolidated to produce a prioritised
list of material issues. The top eight
issues identified for REA Group from the                                   We plan to conduct our next materiality assessment in FY22 to ensure we are
materiality assessment, and where you                                      continuing to prioritise the most relevant areas of focus for REA Group in relation
can find content on each, are featured                                     to sustainability.
in the following issues navigator.

6 | REA Group
Sustainability Report 2020 - REA Group
Introduction        Governance         Social       Environment

Materiality assessment

Materiality assessment – top eight sustainability issues navigator

Ethics and integrity

Conducting all business activities in line with the highest ethical and      Ethics and integrity, page 11
legal standards is central to the company’s purpose and values.
                                                                             Human rights and labour standards, page 27

Diversity and inclusion

Providing a fair and equitable workplace, free from discrimination.          Diversity and inclusion, page 30

Data protection, privacy and cyber security

Safeguarding data and networks from corruption, loss and cyber               Cyber security, page 19
attacks, and ensuring privacy of personal information.
                                                                             Privacy at REA Group, page 12

Health, safety and wellbeing

Preventing work-related injuries, illnesses and accidents in the             Workplace health, safety and wellbeing, page 33
workplace, and promoting the wellbeing of our employees.

Product quality and safety

Setting and maintaining high standards of products and services,             Cyber security, page 19
such as preventing cases of scams, fraudulent listings, mislabelling
of properties and false advertising.                                         Responsible marketing, page 25

                                                                             Innovation, page 22

Employee engagement

Creating a culture and workplace where employees have a positive             Employee engagement, page 38
attitude towards the organisation and its values.


Investing in new ideas, solutions and innovations to create better           Innovation, page 22
products and services.

Customer satisfaction

Meeting customers’ expectations through superior product and                 Customer satisfaction, page 42
service quality, as well as enhancing their user experience.

7 | REA Group
Sustainability Report 2020 - REA Group
Introduction       Governance      Social      Environment

Bushfires in Australia

In 2019 and 2020,                             Our platform,
                                              which connects people who need
                                                                                              on 30 June 2020). This saw employee
                                                                                              donations through our Matched Payroll
bushfires spread                              accommodation with those who have               Giving program matched dollar for
                                              a spare room or vacant property, also           dollar up to AUD $1,000 per employee,
across Australia with                         extended an offer to waive all fees for         and up to a company cap of AUD $150k.
devastating impacts                           those who opened their homes rent-
                                                                                              Our employees embraced this opportunity,
                                              free for people seeking emergency
– including to our                            accommodation. More information is
                                                                                              with up to 27% of our people in Australia
                                                                                              opting to donate this way, with donations
customers                                     available at:
                                                                                              peaking in February 2020.
In January 2020, we created a Bushfire            REA Group’s Bushfire Crisis Support site
                                                                                              Donations for charities responding to the
Relief Support Package for impacted
                                              Through our Advantage Community Grant           bushfires were also generated through
customers to access when the time was
                                              program, we prioritised grant applications      the Community Café between November
right for them to do so. The package
                                              benefiting bushfire-impacted regions,           2019 and February 2020, as well as an
included the following:
                                              to help them get back on their feet. In         employee-driven painting and bake-sale.
                                              FY20, of the 96 agencies awarded a              The bake-sale saw team members bring
     Re-upgrades, at no additional cost,      grant throughout Australia, 54 agencies         baked goods from home and another
     for properties that were within an       nominated bushfire-affected causes. Read        team member created water paintings of
     affected bushfire area, and where        more about the Advantage program on             Australian wildlife to sell, generating further
     the existing marketing campaign          page 44.                                        donations for the Australian Wildlife charity.
     needed to be extended.
                                              REA Group’s people were also eager to           Together, REA Group and its people
     Refunds on paid advertising for          help out and in February 2020, REA Group        donated more than $200k to charities
     properties that were within an           doubled the Matched Payroll Giving              supporting communities and wildlife
     affected bushfire area, and which        caps for employee and company for the           impacted by the bushfires.
     needed to be taken off the market        remainder of financial year (concluding
     due to fire damage.

     For businesses that operated within

     affected bushfire areas, and which
     were experiencing significant impact
     to their operations,
     subscription fees (or other recurring
                                                Donated by REA Group
     product fees) were waived from
     1 January to 31 March 2020.                and employees to charities
                                                supporting bushfire-
     For businesses that operated within
     affected bushfire areas, and which
                                                impacted communities
     were experiencing negative impact
     to their operations, we provided
     extended payment plans for
     outstanding accounts.

8 | REA Group
Sustainability Report 2020 - REA Group
Introduction        Governance      Social      Environment


The impacts of                                 customers had access to the insights and
                                               learning required to run their businesses
COVID-19 have been                             successfully.

felt around the world                          Overall customer sentiment and feedback
                                               towards our efforts was extremely positive,
During this time, REA Group focused on
                                               and we continue to deliver support in
the health and safety of our employees,
                                               affected areas.
their families and our local communities.
Our customers and partners remain              We’ve also shared information around
front and centre in all our thinking as we     financial assistance available to individuals
continue to monitor and respond to the         and businesses, as well as tips on working
situation as it evolves.                       from home with kids.

In response to COVID-19, REA Group             In addition, we provided a range of health
delivered new product innovations to help      and wellbeing initiatives, including access
our customers and the property industry        to uncapped personal leave to support
adapt to the new rules including digital       our people with their transition to working     The focus of the Major Incident Response
inspections, online auctions, inspection       from home during the restricted periods.        Team in January was on the continuity
bookings and COVID-19 property market                                                          and safety of our lines of business based
insights to keep the industry informed.        We have been able to manage the
                                                                                               in Asia. As the pandemic spread and
                                               business through the COVID-19 pandemic
Our focus was clear:                                                                           forced Australia into Stage 3 lockdown in
                                               via implementation of continuity
                                                                                               March, we enacted the Crisis Management
                                               plans developed under our Business
                                                                                               Team to forecast market impact and,
     To provide our customers with             Continuity and Resilience Framework.
 1                                                                                             therefore, revenue impact to REA Group,
     ongoing flexible support measures         Prior to the global pandemic, we had an
                                                                                               take action to sure up liquidity and roll out
                                               understanding of our most important
     To launch new features and services                                                       a series of customer support packages
 2                                             processes, and the plans required to
     to provide Australians with the ability                                                   for our customers. During the period
                                               continue the operation of those processes
     to buy, sell and rent                                                                     that remote working was extended, we
                                               under multiple risk scenarios that included
                                                                                               have focused on Workplace Health and
                                               a pandemic.
     To ensure property seekers were kept                                                      Safety, specifically ergonomic and mental
     well informed with regular insights       Testing these plans was an expectation          health impacts, and we have continued
     into the property market                  under the Business Continuity and               to adapt our customer support packages
                                               Resilience Framework, which enabled             accordingly.
We pivoted our entire sales teams to           us to quickly move our people to work
provide virtual customer support, deliver                                                      A more detailed overview of REA Group’s
                                               remotely, knowing that we could continue
flexible solutions ensure listings and                                                         COVID-19 response can be read on
                                               to run our critical processes and serve
campaigns were treated sensitively, and                                                        page 16 of our FY20 Annual Report.
                                               our customers with minimal interruption.
provide relief measures for those going        The framework has also provided the
through financial hardship.                    guidelines by which we have run our Major
                                               Incident Response Team to manage our
In addition, we shifted our education and
                                               COVID-19 response since January 2020.
learning event series in both Australia
and Asia to online, ensuring all of our

9 | REA Group
Sustainability Report 2020 - REA Group
Introduction   Governance   Social   Environment

Good governance is essential to protect and
enhance the long-term performance and
sustainability of our company. It also supports
the interests of our shareholders, employees,
customers, consumers and the broader community

10 | REA Group
Introduction       Governance       Social      Environment

Ethics and integrity

Conducting all business                        Compliance risk                                When new people join REA Group, we
                                                                                              share our digital Employee Handbook
activities in line with the                    Doing business transparently and in a          with them, which provides insight into
                                               way that promotes the highest levels of        the following:
highest ethical and legal                      business ethics and integrity is central to
standards                                      how we operate at REA Group. As part
                                               of the company’s approach to risk and
REA Group’s most recent materiality            assurance, we have a Compliance Risk
assessment created a prioritised list of       framework in place that spells out the              Conducting ourselves professionally
sustainability issues for REA Group and        steps to be taken for ongoing assessment
                                                                                                   Ensuring everyone’s safety,
‘ethics and integrity’ was the number          of our compliance risk for all of our
                                                                                                   wellbeing and inclusion
one ‘issue’ identified. This section of our    regulatory and legislative obligations.
Sustainability Report outlines the programs,   Our framework includes Anti-Bribery                 Using technology safely
practices and policies REA Group has in        and Corruption, Privacy, Competition and
place to ensure ethics and integrity is at     Consumer, Employment Act, Occupational
                                                                                                   Engaging with social media
the forefront of everything we do.             Health and Safety, Corporations Act, ASX
                                               listing requirements and Financial Services.
                                                                                                   Building a high-performance culture

                                                                                                   Avoiding conflicts of interest

                                                                                                   How to raise concerns

                                                                                              Our policies are reinforced with mandatory
                                                                                              online training for all new people who
                                                                                              join REA Group to create awareness and
                                                                                              understanding, and foster a culture of
                                                                                              respect, diversity and inclusion. Our Legal
                                                                                              team also runs face-to-face refresher
                                                                                              compliance training annually across
                                                                                              the company. Additional compliance
                                                                                              training has been rolled out in Asia to
                                                                                              cover ‘Preventing Bribery and Corruption’,
                                                                                              with ‘Workplace Safety and Violence’,
                                                                                              ‘Competition, Antitrust and Fair Dealing’
                                                                                              and ‘Cybersecurity’ planned for roll out
                                                                                              in FY21.

11 | REA Group
Introduction        Governance         Social      Environment

Ethics and integrity

Privacy at REA Group                              only stored securely, but also purged in
                                                  accordance with our retention policies.         Conflicts of interest
At REA Group, we do our best to
personalise the service that every person         A key focus of REA Group in FY21 will be
receives, so we are providing them with           to improve our privacy practices to provide
the most relevant property suggestions,           users with further transparency and control
articles and guides. We are only able             over their personal information. We have
to provide such a personalised service            a dedicated consumer privacy working
as a result of our ability to track certain       group aimed at ensuring our privacy
personal information of our users. This           practices are considered best practice
may include information that the user has         and to ensure that REA Group will be
disclosed to us about their demographic           well placed to comply with:                     REA Group maintains a ‘Managing
profile, but may also include information                                                         Conflicts of Interest’ Policy, which
                                                  a)	the proposed changes to the
we have deduced about the user based                                                              applies to all REA Group directors,
                                                      Australian privacy laws that were
on their behavior on our website.                                                                 employees, contractors, consultants
                                                      first recommended by the Australian
                                                      Competition and Consumer                    and visitors working for REA
We understand that the information we
                                                      Commission (ACCC) in its Digital            Group. Directors are required on
collect from our users is personal. We
                                                      Platforms Inquiry Report in 2019            an ongoing basis to disclose to the
aspire to be as transparent as possible in
                                                                                                  Board relevant personal interests
our privacy policy as to what information
                                                  b)	Thailand’s new Personal Data                and conflicts of interest that may
we collect, how we use it and how we
                                                      Protection Act, which is scheduled          have an impact on their actual or
disclose it.
                                                      to be fully implemented in 2021.            perceived independence. These
Privacy by design is at the forefront of                                                          are recorded and reported to each
                                                  REA Group introduced its first Privacy
the minds of our developers and product                                                           board meeting.
                                                  Policy in 2001, when the Privacy Act 1988
managers. The importance of handling
                                                  (Cth) was extended to cover the private         The Audit, Risk and Compliance
personal information appropriately is
                                                  sector.     REA Group’s Privacy Policy          (ARC) Committee supports the
reiterated by our Privacy Officers and
                                                  has evolved over almost 20 years, in            Board with oversight on related
is part of our mandatory on-boarding
                                                  line with our data collection and usage         party transactions. Where
training for all new employees, our one-
                                                  practices, to continually provide up-to-        transactions with related parties
hour mandatory annual legal training
                                                  date and transparent information to our         take place, REA Group complies
for all employees in Australia, and our
                                                  customers and consumers. In FY20, REA           with the relevant provisions of the
mandatory online compliance training
                                                  Group introduced a       Cookie Policy to       Corporations Act. Transactions
for all employees in REA Group Asia. We
                                                  provide greater transparency about how it       with related parties are disclosed
conduct privacy impact assessments on
                                                  uses cookies and similar technologies for       in REA Group’s Annual Report on
all new products and systems that handle
                                                  website analytics and targeted advertising. A   page 112.
personal information, and we take care
                                                  similar Privacy Policy and Cookie Policy also
to ensure all personal information is not
                                                  apply to our businesses in REA Group Asia.

   Whistleblower policy
   Our       Whistleblower Policy and             keep things confidential and protect the
   process provides a way to confidentially       whistleblower. There are internal and
   and anonymously report any suspected           external channels for making a report,
   instances of wrongdoing. This may include      including through an independent third-
   illegal, unethical or inappropriate conduct.   party whistleblower service, which can
   It is accessible to current and former         be accessed online or by telephone.
   employees, contractors, suppliers and
                                                  Whistleblowers are protected from
   external parties.
                                                  victimisation, adverse action or
   The policy provides details of what a          intimidation. Our Board, via the ARC
   wrongdoing is, how to make a report            Committee, receives regular updates
   and the steps REA Group will take to           on ‘whistleblower’ matters.

12 | REA Group
Introduction        Governance    Social     Environment

Ethics and integrity

  Tax transparency
  As part of REA Group’s commitment
  to pay the right amount of tax and
  comply with all tax laws, we support
  the Board of Taxation’s Voluntary Tax
  Transparency Code (TTC).

  In 2020, REA Group published its
  first voluntary    Tax Transparency
  Report, providing a summary of the
  $276.4 million in taxes paid, collected
  and remitted by REA Group for FY19.
  The report provides disclosures under
  the Voluntary TTC, and is in addition
  to tax information that is reported to
  the Australian Taxation Office (ATO),
  Australian State Revenue Offices
  and foreign revenue authorities on
  a regular basis.

  Our Voluntary Tax Transparency
  report includes information in relation
  to REA Group’s approach to tax
  governance, tax risk management and
  international-related party dealings.
  REA Group and its subsidiaries comply
                                               Group of 100 (G100)
  with all applicable tax laws and
  regulations.                                 REA Group’s Chief Financial Officer (CFO), Janelle Hopkins, was named the first
                                               female chairman of the G100 in February 2020. The G100 is the peak body for
  Our Tax Governance policy reinforces
                                               CFOs and works to ensure Australia’s commercial and regulatory environment
  our objectives:
                                               is one that advances the interests of Australian businesses, as well as one that
  • We pay the legally correct amount          encourages private and public enterprises to grow and compete in today’s highly
    of tax and do not knowingly partake        competitive environment.
    in tax avoidance/fraud.
  • We assess tax effective positions
                                            Financial services                              support their goals – whether that’s the
    that are supportable, founded in                                                        suburban dream, a weekend getaway, a
    prevailing commercial rationale and     Home loans play an important part in            property empire or just something to call
    that do not damage our corporate        bringing property dreams to life and            their own. Our content and tools help
    reputation.                             REA Group’s Financial Services team is          everyday Australians to understand their
  • We engage with regulators, tax          committed to making this part of the            options in the comfort and privacy of
    authorities, external advisers, and     property journey easier. Whether it’s           their home or office. We understand that
    industry groups                         the transition from renting to buying,          our consumers have unique needs and
    in an ethical,                          upgrading, investing or refinancing to          we’re all about options and choices. When
    transparent and                         a better deal, consumers need advice            they’re ready to take the next step, we
    professional                            they can trust. Smartline and our banking       can connect them directly to our banking
    manner.                                 partner NAB, work together to provide the       partner, or to a mortgage broker. Helping
                                            right information and service.                  consumers get financially ready is great for
                                                                                            our vendors and agents too. Getting our
                                            By bringing the financial lens to property
                                                                                            audience ready to make their next move
                                            listings we believe consumers can build
                                                                                            increases the quality of conversations at
                                            their understanding and confidence. With
                                                                                            each step of the process.
                                            this they can make the decisions that

13 | REA Group
Introduction        Governance       Social      Environment

Ethics and integrity

                                                In February 2020, Smartline and               Our Smartline team won Franchise of
                                       brokers all came            the Year for the 10th time in 11 years
                                                together under the one brand – Smartline      in FY20. A number of our franchisees
                                                personal mortgage advisers. Processes,        were recognised as finalists at various
                                                platforms and websites were all integrated    industry awards events – the Better
                                                and accreditation for all our brokers was     Business Summit, MFAA State Awards,
                                                gained under the new brand.                   Australian Broker Awards and Women
                                                                                              in Finance Awards.
                                                Smartline is a financial member of the
                                                Mortgage and Finance Association of           Smartline updated its responsible lending
                                                Australia (MFAA) and the Combined             policy and procedures to align with the
                                                Industry Forum. Smartline holds a Credit      ASIC Regulatory Guide RG209 Credit
                                                Licence that is issued by the Australian      licensing: Responsible lending conduct.
                                                Securities and Investments Commission         The new policy went live on 1 July 2020.
                                                (ASIC) and, as such, also falls under the
                                                Australian Financial Complaints Authority
                                                (AFCA) external dispute resolution scheme.

Responsible lending                             Hometrack                                        Hometrack renewed all of its relationships
                                                                                                 with its major customers that were due
Smartline has always placed customers           After being acquired by REA in June 2018,        for renewal in FY20, and added many
at the heart of all interactions. Smartline’s   Hometrack is now fully integrated into REA       new services to its valuations platforms
policies and procedures set out the             across all areas and functions, including        throughout the year.
standards by which the team (Smartline          data services, systems engineering,
and its network of brokers) aims to conduct     security, people and culture. The full           Hometrack is being rebranded to
themselves when dealing with customers.         integration of Hometrack ensures the team        a permanent new brand under the
Smartline is committed to upholding             has access to the up-to-date technologies        REA Group umbrella of brands in FY21.
industry standards of practice and services     and ways of working.
outlined by regulators, the MFAA and the
                                                Given the sensitive customer data that
Banking Code of Practice. This requires
                                                Hometrack is trusted with, data protection
Smartline, and its network of brokers,
                                                is critical for the sustainability of the
to meet a standard of ethical behaviour,
                                                business. Hometrack is currently certified
ensure responsible lending obligations are
                                                ISO 27001 and aligned with the National
met and place the customer’s best interest
                                                Institute of Standards and Technology
at the centre of every decision.
                                                (NIST) Cybersecurity Framework. The
Part of Smartline’s responsible lending         Hometrack team has strict policies
approach is to ensure brokers offer             around storage and purging of personally
customers exceptional advice by providing       identifiable information (PII) data,
quality mortgage broking services. This is      encryption of data (both in transit and at-
about providing personal and proactive          rest) and policies outlining access control
communication to customers, as well as          to the Hometrack systems. Hometrack
giving consideration to the individual needs    has in place data loss prevention
of each customer. When a Smartline broker       (DLP) solutions for the protection
recommends a product to a customer,             of customer data.
they are required to ensure the product
                                                Hometrack has long-term recurring
meets the customer’s individual needs, is
                                                revenues with its major bank customers.
suitable and in the customers best interest.

14 | REA Group
Introduction       Governance      Social     Environment

Risk management

Taking the right risks,                       To achieve this, REA Group follows
                                              accepted standards and guidelines for
                                                                                          on an annual basis. At REA Group, risk
                                                                                          appetite is defined as ‘the amount and
at the right time, for                        managing risk. We are committed to          type of risk that an organisation is willing
                                              ensuring that a consistent and integrated   to take in order to meet its strategic and
the right return, while                       approach to risk management is              business objectives’. While risk appetite
doing the right thing                         established and embedded across all         is about the pursuit of risk, risk tolerance
                                              levels of the business. This is driven by   is about what an organisation can cope
The team at REA Group is driven by our        REA Group’s Risk Management Framework       with. REA articulates risk tolerances as ‘risk
purpose to ‘change the way the world          that is regularly reviewed and updated      limits’. Risk appetite and an associated
experiences property’, which encompasses      to reflect best practice, industry and      set of risk limits provide the business
everything from product innovation to         community standards.                        with a framework to make risk-based
international investments. Having a clearly                                               decisions – in the context of the type
defined purpose provides REA Group            Board                                       of risks to accept, or not to accept and
with opportunities to drive further value.                                                the areas of the business that require
We believe effective risk management is       Our Board reviews and approves the
                                                                                          immediate attention because operational
about taking the right risks, at the right    REA Group Risk Management strategy that
                                                                                          performance is not in line with Board
time, for the right return, while doing the   outlines how we manage and govern risk,
right thing.                                  and the Risk Appetite Statement
                                                                                             REA Group Board Charter

15 | REA Group
Introduction        Governance       Social      Environment

Risk management

Board Audit, Risk &
Compliance Committee
Once risk appetite is set by the Board, the                                        it va                                                                                  Le
                                                                                  o                                                                                         ad
Board Audit, Risk & Compliance Committee                                         m                        ycle              Tone
                                                                             d                       lifec                       from
                                                                                                 yee                                  the


(ARCC) monitor that the performance of                                                                                                    to


the organisation remains within those limits

by receiving and reviewing management

reporting that is tabled regularly throughout

the year. If limits are breached or look

like being breached, the ARCC require

                                                                                                                                                                                    l mo
management to take decisive action to

address the control environment in a timely
fashion and will receive updates on how
                                                                                                                   risk culture
actions are progressing.
                                                                  R is k t

The ARCC will also approve the annual

                                                                                                                                                                                     n an
                                                                    ra n

audit plan, ensuring it focuses on key

                                                                                                                                                                                 v er

areas of risk to the business, while also



giving consideration to external events and

themes. Audit reports are tabled at ARCC

                                                                                                                                                                                            v ir
                                                                                                                                                             ili t

meetings following completion of each

                                                                                             R is                                                   s   ib
                                                                                                    ka                                           on
                                                                  fr a

                                                                       m                                 ppe                               esp

audit. Regular risk reporting to the ARCC                                    ew                                tit e                nd r                                             a
                                                                                                                          Roles a                                                n
includes the status of agreed management                                           or                                                                                       io
                                                                                                                                                                 is      at
actions to close any control gaps that                                                                                                                  an
audits identify.                                                                                                                            Org

The ARCC requires a report to be tabled
and considered following management
review of the REA Group Risk Management          Executive Risk Committee                                                  In FY20, we executed a comprehensive
                                                                                                                           review of our Risk Management
Policy (annually) and supporting frameworks      We have a formal Executive Risk                                           Strategy and Appetite, Operational Risk
(biennially) to ensure industry and regulatory   Committee in place to discuss, monitor                                    Framework and Business Resilience
standards and best practice are achieved as      and decide on risk matters regularly.                                     Framework, which was endorsed by our
well as operational effectiveness.               This includes the monitoring of our                                       Board of Directors for implementation.
In addition to the regular reporting that        risk appetite settings that have been
                                                 approved by the Board. This Committee                                     At the commencement of the financial
is tabled at ARCC meetings throughout
                                                 consists of member of our Executive                                       year we review and update the risk appetite
the year, the annual audit planning, risk
                                                 Leadership Team (ELT), our Chief                                          and internal audit plan, using historical
management strategy and appetite setting
                                                 Information Security Officer and our                                      trends, industry insights and input from
process and policy and framework reviews,
                                                 Chief Risk Officer.                                                       management teams via the ERC and ARCC.
the Chair of the ARCC hosts a Board Risk
                                                                                                                           We monitor and review continuously
Day once every year where members of             The agenda covers our Operational risk                                    throughout the year and also adjust at any
the Board spend a full day considering           taxonomy (as defined in our Operational                                   point with Board approval, which allows
strategic risk and emerging risk themes to       Risk Framework), Strategic Risk, Regulatory                               us the flexibility to adapt based on the
formulate the REA Group Strategic Risk           Risk, Compliance Risk, Credit Risk, Internal                              emerging risk landscape.
Profile for the year ahead.                      Audits and any significant incidents or
                                                 events related to these areas that may have                               Per our Risk Framework, we also perform
Further, the ARCC is kept informed of
                                                 occurred. High-risk matters, are escalated                                ongoing assurance of our key controls
changes in the cyber threat landscape,
                                                 to the ARCC.                                                              across all operational and compliance risk
security strategy and mitigations directly
                                                                                                                           types. This includes in-depth testing of key
by the Chief Information Security Officer        We also maintain a network of ‘Risk                                       financial controls in line with Sarbanes-
and through our Executive Risk Committee         Champions’ within the business to help                                    Oxley requirements, due to NewsCorp
(ERC).                                           with identification and management of                                     being a US-based majority shareholder.
                                                 our risk profiles, implementation of our
   REA Group Board ARCC Charter
                                                 frameworks and embedding a risk culture.

16 | REA Group
Introduction        Governance         Social       Environment

Risk management

Key risk exposures
Following are the key risk exposures that relate to the most important sustainability ‘issues’ identified in REA Group’s most recent materiality
assessment. REA Group has identified these risks to have the potential to significantly impact our business and the table details how we
manage these potential exposures. These are monitored and discussed regularly as part of the ERC and ARCC.

Key risk                                             Response                                             Materiality assessment – issue

Regulatory landscape

Increased regulation that increases the cost         • Compliance Risk Framework updated and
                                                                                                            1   Ethics and integrity
of doing business, or makes some parts of              implemented
our business unprofitable or unacceptable
                                                     • Regulatory and Government Committee
in terms of risk
                                                       established to review and action regulatory


Issues with managing integrity and consistency       • Implemented a data governance program to
                                                                                                            3 D
                                                                                                               ata protection, privacy and
of our data, or failure to build services that         support both:
                                                                                                              cyber security
enable the production of those data assets
                                                        - Data defence – minimising risk and ensuring
                                                                                                            5 Product quality and safety
                                                          integrity of data
                                                        - Data offence – enabling data-driven
                                                          decision-making and product development
                                                     • Our data governance program will evolve
                                                       existing data defence programs, such as our
                                                       Privacy and Data Retention policies, but the
                                                       focus will be on building our data offence to
                                                       unlock new value


Disruption to our customers’ business models         • Provide strong support for Agency Principals
                                                                                                            8 Customer satisfaction
would have implications for REA Group                  and Business Owners
                                                     • Continuing to increase engagement with
                                                       individual agents through tools

Misappropriation, misuse and malicious activity

Losses due to acts of a type intended to             • See the Cyber Security section on page 19
                                                                                                            3 D
                                                                                                               ata protection, privacy and
defraud, misappropriate property or circumvent
                                                                                                              cyber security
regulations, the law or company policy
                                                                                                            5 Product quality and safety

   Key risk exposures continued over page

17 | REA Group
Introduction        Governance        Social      Environment

Risk management

Key risk                                            Response                                            Materiality assessment – issue

Products, advice and business practices

Losses arising from an unintentional or negligent   • User experience testing of new product
                                                                                                         1 Ethics and integrity
failure to meet a professional obligation             concepts and market research
including duty of care owed to customers,                                                                5 Product quality and safety
                                                    • Customer feedback channels and consumer
consumers and/or the market and suitability
                                                      satisfaction via Customer Satisfaction council,    8 Customer satisfaction
requirements, or from the nature or design of
                                                      surveys and Industry Leadership groups
a product
                                                    • Legal review in place for any marketing claims
                                                    • Lender education and qualifications for our
                                                      Financial Services business
                                                    • Smartline Compliance Assurance Program

Execution and delivery

Losses arising from failed transactions             • Defined product strategies and roadmaps
                                                                                                         1 Ethics and integrity
processing, process management, non-delivery
                                                    • Cross functional squads and tribes aligned to
of new/enhanced functionality                                                                            5 Product quality and safety
                                                      product delivery
                                                    • Credit/debtor management processes that            7 Innovation
                                                      include credit checks on new customers,
                                                                                                         8 Customer satisfaction
                                                      delinquency management controls, hardship
                                                      programs to responsibly help our customers
                                                      through difficult times

People, employment practices and workplace safety

Inability to deliver against strategy due to        • Dedicated talent acquisition team
                                                                                                         1 Ethics and integrity
ineffective talent management
                                                    • REA Uuniversity learning program for
                                                                                                         2 Diversity and inclusion
Losses arising from acts that are inconsistent        employees
with employment, health or safety laws or           • Workplace Health and Safety system and             4 Health, safety and wellbeing
agreements, from payment of personal injury           committee in place
                                                                                                         6 Employee engagement
claims or from diversity/discrimination events
                                                    • Robust performance and remuneration
                                                      framework reviewed by the Board of Directors
                                                    • Annual engagement survey, supplemented
                                                      by regular pulse surveys

Business disruption and system failure

Inability to execute core business processes due    • Architect our technology for resilience
                                                                                                         3 D
                                                                                                            ata protection, privacy and
to systems disruption/outage
                                                    • Define operating levels and monitor for events       cyber security
                                                      that may impact those levels
                                                    • Incident Management processes, training and
                                                      post-incident reviews performed for lessons
                                                    • IT Disaster recovery plans and testing in place

18 | REA Group
Introduction       Governance     Social     Environment

Cyber security

Building cyber resilience                    In 2020 the Australian Government
                                             highlighted concerns over advanced
                                                                                                  A revised Security Guide for
                                                                                                  Property Managers
at REA Group                                 hacking targeting organisations across               Targeted awareness for high-risk
                                             the country.                                         users, highlighting risks associated
REA Group’s most recent materiality
                                                                                                  with business email compromise
assessment identified ‘data protection,      REA Group has responded through its
                                                                                                  and fake invoice scams
privacy and cyber security’ as one           investment in the Cyber Security team over
of the top prioritised sustainability        the last 12 months by adding operational,            Product security health checks to
issues for REA Group. This section of        engineering and advisory capability.                 bake security requirements into
our Sustainability Report provides an        Additionally, we have brought security               new products
overview of how REA Group is continually     into our broader technology platform                 Hands-on developer training in
enhancing and evolving its cyber security    and cloud engineering group, providing               secure development practices
strategy and activity to benefit all our     REA Group with a powerful lever to embed             using Open Web Application
stakeholders.                                security into the fabric of our technology           Security Project (OWASP) top 10
                                             building blocks.                                     mitigations
Risks arising from cyber threats is front
                                                                                                  The introduction of multi-factor
of mind for REA Group. Cyber security        Having a Cyber Security team that works              authentication to enhance security
continues to gain attention in both          with product managers and technology                 for employees, customers and
customer-facing and non-customer-facing      teams to proactively monitor REA Group               consumers, as well as additional
teams across our business.                   systems for vulnerabilities helps us to              security enhancements for our
                                             better mitigate malicious activity and               customer and consumer facing apps
Public awareness has been driven by new
                                             threats to our business. This year, we’ve
legislation and the increasing frequency                                                          Digital risk management
                                             worked to increase employee and
of publicity surrounding scams and fraud,
                                             customer risk-awareness through a series
particularly resulting from email phishing                                                        Board level awareness of
                                             of initiatives, including the following:
and prominent social media activity.                                                              cyber security issues

                                                                                          Our cyber security strategy continues to be
                                                                                          focused around five simple priorities:

                                                                                           1   Visibility of assets and threats

                                                                                           2   Prioritising good technology hygiene

                                                                                           3   Broad adoption of key security controls

                                                                                           4   Promotion of a risk-aware culture

                                                                                           5   Data protection

                                                                                          Our security program extends to assessing
                                                                                          our business partners and supplier
                                                                                          security posture.

19 | REA Group
Introduction       Governance      Social      Environment

Cyber security

                                                                                             Project Locke:
                                                                                             protecting our customers

                                                                                             We’re passionate about protecting
                                                                                             our customers’ online experience
                                                                                             with us. That’s why we’ve
                                                                                             implemented risk-based, multi-
                                                                                             factor authentication to prevent
                                                                                             unauthorised access to personal

                                                                                             Over the last 12 months we’ve been
Industry Standards                            Industry collaboration                         working across our businesses
                                                                                             in Australia and Asia to bring the
REA Group uses the NIST Cybersecurity         REA Group’s cyber ecosystem
                                                                                             latest authentication technology
Framework, an internationally recognised      extends broadly across industries, and
                                                                                             to life – a capability we call Locke.
approach to the implementation of             collaboration with peers is a vital source
                                                                                             Locke isn’t just about sending an
controls to manage risks to our business,     of threat intelligence, helping to inform
                                                                                             SMS code, it is using a range of risk
and we measure our maturity against           our security strategy. This year, we
                                                                                             factors to detect unusual behaviour
this framework annually. The framework        collaborated with a number of Australian
                                                                                             in our online apps. Additionally,
enables us to continually assess where to     organisations to publish a guide to inform
                                                                                             we’re able to use identities to create
focus investment.                             businesses about real-world experiences
                                                                                             more personalised experiences and
                                              influencing security outcomes.
REA Group leverages external expertise                                                       issue challenges based on high-risk
where appropriate to augment its security     REA Group submitted a response to the          activities.
services, including conducting security       government’s cyber security strategy
                                                                                             We’ve added social sign-on to our
testing, compromise assessments and           update and the Chief Information Security
                                                                                             experience and we are now able to
independent reviews.                          Officer contributed to a focus group,
                                                                                             leverage the security provided by
                                              providing feedback about concerns and
                                                                                             leading platforms such as Facebook,
Product security                              recommendations for future national
                                                                                             AppleID and Google, removing the
health checks                                 initiatives.
                                                                                             need to remember extra passwords.

We believe in building security into our      REA Group’s Chief Information Security
products and tech upfront, not bolting        Officer sits on several executive advisory
it on afterwards. Our Product Security        boards for cyber security including Deakin
Health Check (PSHC) is aligned to the NIST    University, the Australian Information
Cybersecurity Framework and enables           Security Association, and is a CyRise
product managers to self-assess their         mentor – an accelerator for Australian
initiatives for security risks. The PSHC      cyber security start-ups. He is a co-founder
builds story cards that teams embed into      of the Security, Influence and Trust Group,
their delivery roadmaps. This helps deliver   a collaboration of leading organisations
their products while meeting our policy       committed to influencing and building
requirements without the security team        a cyber-aware culture across Australia.
becoming a bottleneck. Our continuous
delivery approach allows for frequent
changes and assessments to occur
throughout the software lifecycle.

20 | REA Group
Introduction        Governance       Social         Environment

Cyber security

Digital risk management                          Responsible Disclosure Policy
                                                                                                     Anti-bot mitigation
No-one likes scammers and neither do             We value the work and effort of the
we. This year we’ve taken down more              security research community as it helps
                                                                                                     Time’s up for bad robots
than 100 fake mobile apps impersonating          make everyone safer online. As part of              REA Group has teamed up with one
REA Group on the Android platform. To do         our vulnerability management strategy,              of the world’s fastest growing anti-
this, we’re using a combination of certificate   we have published a policy that outlines            bot mitigation companies, Kasada,
transparency monitoring and phishing             how researchers can disclose security               to protect its digital assets from
takedown services from a leading digital         vulnerabilities to REA Group in a safe and          malicious automation, unauthorised
risk-management partner. This helps protect      responsible way. While we do not offer              scraping and brute force attacks.
our customers and brand from abuse.              rewards for disclosures, we’re happy to
                                                 recognise the contributions of researchers          Our partnership is designed to
We have also implemented the Domain-                                                                 support our data strategy and
                                                 in our hall of fame as a special thank you.
based Message Authentication, Reporting,                                                             prevent unwanted and unsolicited
and Conformance (DMARC) policy for our           Empowering our people to                            activities on our websites, so they
outbound marketing campaigns, providing                                                              are healthy and available for our
confidence that messages originate from,
                                                 make good security decisions
                                                                                                     customers and audience.
and are digitally signed by REA Group. This      Equipping our teams to recognise and
complies with the requirements set out in                                                            We believe that exposing our data
                                                 respond to cyber risk is an important part
the Request for Comments (RFC) standard.                                                             should be on our terms and that
                                                 of our strategic priorities at REA Group.
                                                                                                     bad robots impose arbitrary costs
                                                 This year we have embedded interactive
                                                                                                     on our business and expose us to
                                                 training modules into a new learning
                                                                                                     unacceptable risks.
                                                 platform to deliver training and education
                                                 to all REA Group employees.

                                                 Training in FY20 has been focused on the         Outlook and threat horizon
                                                 following target audiences:
                                                                                                  At REA Group we don’t wait for incidents
                                                                                                  to occur before acting. Our security
                                                          Developers – secure coding
                                                                                                  strategy anticipates and expects us to
                                                          practices – leveraging OWASP
                                                                                                  face cyber-attacks. We practise for,
                                                          Top 10
                                                                                                  and experience these events, and we
                                                          High-risk employees – tailored
                                                                                                  incorporate threat assessments looking
                                                          training for executive assistants and
                                                                                                  forward by adjusting our responses.
                                                          finance highlighting risks related to
                                                          business email compromise and           Looking forward we are assessing the
                                                          fake invoicing scams                    longer-term security implications of
                                                          All employees – security policy         remote ways of working, and, the changes
                                                          eLearn – aligned to the NIST            we may need to make as a result of more
                                                          Cybersecurity Framework designed        people adopting this practice.
   Safer Internet Day 2020                                to be a simple guide to security        We note the recent government advice
   This year on Safer Internet Day 2020                   accountabilities                        on nation state operations, as well as the
   REA Group took the opportunity                         Customers – an updated security         changes in cyber threat (e.g. ransomware)
   to have a conversation with its                        guide for property managers,            and use this to inform security investment.
   customers in Australia about                           available for download from our
   protecting their businesses online.                    Agent Marketing Centre                  We will continue to focus on anti-
   Customers were encouraged to                                                                   automation, phishing, reducing the
                                                          Tech community – the Tech
   visit REA Group’s agent marketing                                                              complexity of technology environments and
                                                          Community at REA Group runs
   centre for security tips and tricks to                                                         the rigour of good hygiene as key priorities.
                                                          monthly security-orientated
   check back regularly for updates.                      showcases and presentations             Our strategy is designed on continual
   We added security messages to our                      for employees                           improvement, mitigating material risks and
   customer Self Service Portal and                                                               responding when incidents occur, while
   a statement message provided a                                                                 recognising there are no silver bullets
   prompt for action.                                                                             to security.

21 | REA Group
Introduction        Governance       Social     Environment


Investing in new ideas,                          Highlights and opportunities                     Rollout of our personalisation stack

solutions and innovations                        Agent Match                                      Creating a personalised experience
                                                                                                  that adapts to the needs of Australian
to create better products                        REA Group continued to help prospective          property seekers requires the best
                                                 sellers evaluate agencies and agents within      available technology. By combining what
and services                                     the market. This year we experimented            we know about our consumers, we are
‘Innovation’ was identified as one of the        with our ‘Agent Match’ service, enabling         now able to develop an individual profile
top sustainability issues from REA Group’s       sellers to choose their preferred agents         of every user that is
most recent materiality assessment. In           and ensuring agents received immediate           updated in real-time with our event-based
this section, we provide an overview of          notification of a prospective seller. We         architecture. These profiles allow us to
the role innovation has played in several        made some changes to the way the                 reach our consumers via omni-channel
of the key sustainability issues identified in   Agent Match product worked and we                communications in the channel that is most
the materiality assessment, including ‘data      received feedback from customers                 relevant for each consumer, presenting the
protection, privacy and cyber security’ and      who indicated there were opportunities           next best actions that help navigate their
‘customer satisfaction’. We also provide an      for improvement. We listened and, in             individual property journey with ease.
overview of the learning opportunities we        response to the feedback, changed the
benefited from through innovation in FY20.       Agent Match product so that seller leads
                                                 are more accessible to customers, while
Our purpose is to change the way the world       ensuring that consumers also have a great
experiences property, and we can’t achieve       experience. The changes we have made
our purpose with a limited or constrained        include removing the charge to customers
set of ideas. That’s why innovation              receiving the leads and we will continue to
continues to sit at the heart of both our        evolve the product.
purpose and our future growth plans.

At REA Group, innovation is all about
turning an idea into an offering that meets
a genuine need of our customers and
                                                    Pay On Sale
consumers. Constant innovation is vital to
adapting the experiences          Driven by COVID-19 and our desire to help our customers and consumers find their
to keep up with consumer expectations               way through the tough market conditions, REA released a series of measures aimed
and to stay ahead of the competitive                at reducing costs and providing customers with a variety of tools to give vendors
curve. Through innovation, we keep our              the confidence to bring properties to market. One of these was an innovative way
position as the largest and most engaged            for customers to delay full payment of the campaign until the point of sale, ensuring
property audience in Australia and,                 that both real estate agents and vendors could manage the market uncertainty.
therefore, we ensure REA Group continues
to thrive.

Innovation begins in our teams. We have
a long history of building diverse and
inclusive teams because we fundamentally
believe that diversity and inclusion are the
engine room of innovation.

22 | REA Group
Introduction      Governance      Social     Environment


                                             languages. This experience also allows
                                             users to search for property in close                Data initiatives
                                             proximity to train stations and schools.
                                             In a short amount of time, the explore               Over the last two years, REA Group
                                             experience has more than 10% uptake with             has invested in building a common
                                             the majority of use coming from mobiles.             data platform to be used across
                                                                                                  the company. This is built on top
                                             iOS app log out                                      of Google’s BigQuery product and
                                                                                                  allows publishing of data to a single
                                             In November 2019 we released a version
                                                                                                  location, transforming data for use in
                                             of our iOS app that had an unplanned side
                                                                                                  REA Group’s products and business
                                             effect. Some users who were previously
                                                                                                  intelligence, and a framework for
                                             logged into their
                                                                                                  powering data science models
                                             account were effectively logged out,
                                                                                                  with machine learning. In FY20, we
                                             and had to enter their email address and
                                                                                                  launched our REA Insights brand,
                                             password again. While this may seem like
                                                                                                  which leverages our audience data
App releases                                 a minor inconvenience, for us it was a
                                                                                                  and behavioural market intelligence
                                             really big deal – we have high standards
Through automation and collaboration,                                                             to share the latest property market
                                             for the quality of our experiences and
we have accelerated our iOS and Android                                                           insights with consumers, customers
                                             we’d let some of our consumers down.
app release frequency from releasing once                                                         and the media.
                                             At REA Group, we have an ‘always on’
a month to releasing a new version of our
                                             approach to ensure we learn from every
apps every week. Next we focused on
                                             incident like this. Our process is called
the delay between accepting final code
                                             the Post Incident Review (PIR), which is
changes and the fully tested app bundle
                                             where we get together to understand what
arriving on a consumer’s device. We
                                             happened and why. We then identify as a
focused on simplifying our ‘release train’
                                             team what steps we’ll take to reduce the
procedures such as regression testing and
                                             likelihood of the issue repeating.
reduced the lag time from 10 business
days to six days. Process innovations like
these are part of the REA Group’s DNA and
we’re always on the lookout for ways to
move more quickly and efficiently.

Explore (Asia)

In FY20 the Consumer team released
the ‘explore’ search experience to help
consumers search for property in a new
way. Our new explore feature allows users
to perform a type-less search experience
that you can perform by click or tap. This
is extremely beneficial for people who
need to perform searches in non-English


#13                                             In November 2019, REA Group’s CIO, Tom Varsavsky, was recognised as one of
                                                Australia’s most innovative tech leaders – coming in at number 13 out of 50 senior
                                                tech executives across Australia as part of the CIO50 list, judged by CIO Australia.
                                                The list recognises top tech executives who are driving innovation and influencing
Out of 50 senior
                                                rapid change across their organisations. Tom was recognised for his strategic
tech executives                                 leadership and supporting his team’s delivery of Locke, moving to Cloud-only,
                                                and for championing diversity in technology, as well as other innovative changes.

23 | REA Group
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