Why are RMA Global (ASX:RMY) shares in the spotlight today?

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Why are RMA Global (ASX:RMY) shares in the spotlight today?

ASX, RMY, RMA, the US
Image source: © Dechev | Megapixl.com

Highlights

  • RMA Global Limited announced that there has been a significant uplift in the US's agents’ reviews.
  • RMY informed that approximately 176,000 US agents were on the platform on 31 December 2021, 76% higher than the previous year.

Digital marketing business provider RMA Global Limited (ASX:RMY) announced that the company has recorded a significant uplift in the US agents reviews.

Meanwhile, shares of RMY still closed 4.17% lower at AU$0.23 today on ASX.

Agent's reviews

RMY announced that on 31 December, approximately 176,000 US agents were on the platform, which is 76% higher than the previous year.

In 2021, over 200,000 US reviews were received, a Y-o-Y increase of 303% for a total of 283,000 reviews at the end of the year. Notably, 70,000 reviews were accumulated in November and December. The growth in reviews continued in January, and now the company has reported over 30,000 US reviews.

The surge in the reviews is followed by the upcoming Agent of the Year Awards.

There are around 45,000 agent profiles and over 1.17 million reviews compared with Australia. When the number of agents is low and reviews are high, it means that agents are likely to invest in building their online profile. Presently, the average Agent has 20 reviews in Australia, and the company expects to replicate the same in the US as well.

Why are reviews critical on the Agent's profile?

Agents engage with the RMA's digital marketing business to build their profile and market themselves. With the increase in the number of reviews on the Agent's profile, their profile becomes more attractive for the vendors and based on the reviews, vendors employ the agents to sell their property. Therefore, reviews are an integral component and a lead indicator of revenue.

RMY focuses upon the US market

David Williams, chairman of RMA, commented on the development:

Bottom Line

RMA revenue model is dependent upon the reviews accumulated by the agents engaging with the platform. Higher is the number of reviews; it is more likely that the Agent will expand the paid subscription.

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