Ann: Clarification to announcement dated 29/05/20, page-6

re: Ann: Clarification to announcement dated ... I'm not in real estate, but work in a company that has some involvement in property, and I have access to both RP Data and Nearmap.

I don't know how much each login costs for RP data, but can ask. We have a bulk deal I think.

I was told RP Data could be worth or was worth about $500 million.

RP Data's value I think comes from it's historical data stored about residential property listing and marketing history, sales history, archived marketing photos, and search engines that can search on individual's names, and show all property owned by that individual.

They have a selection of reports (CMA Comparative Market Analysis for rent and value of properties) available with the standard access and other more detailed reports that you have to pay extra for.

The standard CMA is pretty hit and miss, and requires a lot of user input and interpretation. To compare properties for rent or value, you select property type, Suburb, can limit/filter to street or a radius, number of bedrooms, bathrooms, car spaces, land size range , last sale price range and last sale date ranges.

Advanced filters are if has lock up garage, materials in wall, and materials in roof, year build range, metres squared in floor area.

You then go through a 4 or 5 step process to select or reject properties to compare against the one you are trying to value. You can then generate the report. the UI is pretty slow, antiquated and clunky.

In the report they have median price data for the area, and some census demographics, and a basic estimated range of value of the property or rent amount, but no where near the range of data that the nearmap product offered.

They have the ability to store your own personal list of properties in 'favourites' or a watch list or list of sold properties. You can buy title docs, run a depreciating calc and buy a specially prepared valuation report, have never done that so not sure how it works.

I don't see nearmap being able to replace this in a short timeframe, but they could begin to eat into the RP Data market as they pretty much have a monopoly on this type of thing in Aus, and as I mentioned, it is a bit clunky.

With the added benefit of the high frequency and recent photomaps from nearmap, they do offer something quite compelling I think. They wouldn't have bothered to develop it unless they knew quite a few agents were using nearmap in the first place.