Estate agent website to shake up dominance
A new website, called onthemarket.com has launched and any agent that signs up to it does so on the condition that they can't list on the other two biggest sites. Zoopla and Rightmove get around 100 million hits each month.
The new property website has been set up by consortium of estate agents. Its founders, Agents’ Mutual, which is made up of Savills, Knight Frank, Chestertons, Strutt & Parker and the London firms Douglas & Gordon and Glentree Estates, claim more than 4,000, or one in four, agents have signed up to the site and more are being recruited.
Onthemarket will give members the chance to fix a monthly fee for listing properties for five years, and also allows agents to control their costs against the increasing fees of Zoopla and Rightmove.
This new comparison site is trying to garner a competitive edge by encouraging agents to put their properties on its portal 48 hours before listing with rivals. It's all a bit edgy, this estate agent lark.
Ian Springett, chief executive of onthemarket.com, reckons: “We will showcase hundreds of thousands of UK properties for sale and to let and will immediately become a ‘must-view’ portal because the vast majority of these properties will have been removed from Rightmove or Zoopla/Primelocation so OnTheMarket.com will have a unique inventory of properties.”
“Success in selling is not just about listing on as many property websites as possible, it is also attributable to an agent’s expertise, contacts and overall marketing mix.”
Over at Zoopla, Lawrence Hall says that he expects the newcomer to have a “short-term impact” on his website, and described onthemarket.com as “regressive”.
It “creates the biggest conflict of interest ever to exist between estate agents and their clients, who now have to think very carefully about which agents are looking after the homeowner, versus which are looking after their own interests.”
The world of buying and renting - it is all about to see more shade being thrown than RuPaul's Drag Race.