Meet the Man Behind the Domain Takeover

CoStar Group has finalised its acquisition of Domain Holdings Australia in a transaction valued at approximately A$3 billion. The scheme of arrangement, approved by Domain shareholders and endorsed unanimously by its board, became effective on 27 August 2025.

Under the terms of the deal, Nine Entertainment received proceeds of about A$1.4 billion for its ~60 per cent stake. Domain’s board said the agreement provides “an attractive premium and certainty of value” for shareholders.

The move extends CoStar’s global footprint into the Australian residential market. Founded by Andy Florance, CoStar has built its reputation through acquisitions including LoopNet, Apartments.com, and most recently Matterport, which it completed in February 2025.

A Billion-Dollar Marketing Push

CoStar has paired acquisitions with substantial marketing. In the United States, the company launched what it describes as a US$1 billion marketing initiative for Homes.com.

As part of that campaign, CoStar aired two commercials during the 2025 Super Bowl, directed by Taika Waititi and featuring Dan Levy, Heidi Gardner, and a cameo by Morgan Freeman.

CoStar reports that the Homes.com Network reached an average of more than 110 million unique monthly visitors in early 2025, citing data from Google Analytics.

Competing portals have challenged comparisons between platforms, but the company maintains that Homes.com has become a leading player in U.S. residential search.

“Your Listing, Your Lead”

Homes.com operates under a policy it calls “Your Listing, Your Lead,” which directs buyer enquiries on a property to the listing agent rather than to competing brokers.

CoStar has indicated it intends to uphold the same agent-first approach across its marketplaces, including Domain.

What Comes Next

With the Domain acquisition completed, CoStar enters a market long led by REA Group. Industry analysts expect increased competition, heavier marketing investment, and new technology integrations, including Matterport’s 3D virtual tour capabilities.

For agents, the implications are still unfolding. If CoStar applies its U.S. model in Australia, the focus will be on higher visibility for listing agents and direct consumer connections.