Realtor.com chief executive Damian Eales (pictured left) will join the board of Mortgage Choice owner REA Group on 14 November. He replaces former REA chief executive Tracey Fellows (pictured right), who steps down the day before.
REA confirmed in an ASX announcement on 28 October that Eales will sit on the board as a nominee of majority shareholder News Corp Australia.
Eales has run Move, Inc. since 2023. The Austin, Texas-based company operates Realtor.com and is majority owned by News Corp, with REA holding a 20% stake. His previous roles include chief operating officer of publishing at News Corp Australia.
He will face a shareholder vote at REA’s 2027 annual general meeting.
Fellows joined the board in August 2014, when she became chief executive. After leaving the top job in January 2019, she remained a non-executive director representing News Corp Australia.
Chairman Hamish McLennan said she had “made a substantial contribution to REA over the last 12 years”. Welcoming her successor, he said: “He is already well known to REA through his role as CEO of Realtor.com.” He added that Eales’ “North American insights will provide an extra dimension to the board”.
Eales’ appointment follows the recent addition of a former AMP Bank chief to the REA board, and both changes come as REA’s broking interests expand.
The company’s footprint extends well beyond its property portals and into the broker channel. REA’s financial services arm, which includes Mortgage Choice and PropTrack, lifted revenue 11% to $114 million in FY26, while Mortgage Choice loan settlements rose 13% to $27 billion.
In June, REA added to Mortgage Choice by completing its purchase of a 70% stake in commercial brokerage Simplicity Loans & Advisory for $47 million. It also holds strategic stakes in mortgage application and e-lodgement provider Simpology and in digital non-bank lender Athena Home Loans.
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