OnTheMarket is to close a “special offer” at the end of next week as it continues its recruitment drive in the heated portal market.
Some agents, currently not members, have received the following email:
“A few months ago OnTheMarket.com created an opportunity for a select number of agents to list on OnTheMarket.com for 12 months with a listing-only contract and a small monthly fee.
“We had a large response to this and added a significant number of agents and listings to improve our offering to the consumer.
“We have a record number of members listing with us now, but the offer has to come to an end on the 30th September. As the market picks up post summer, join a website with your best interests embedded into its core.
- 100% agent owned
- No shares or shareholders
- Not for profit
- No on-line agents allowed to list
“OnTheMarket.com list all your sales and lettings properties, new homes and students lets as well as having brand presence.
“There is no better time to be part of something that is run and controlled by you the agents.
“I would welcome the chance to introduce myself and discuss this opportunity in more detail, when would be a good time for you?”
Yesterday evening, a spokesperson for OTM said: “This sales recruitment email is directed to agents in selected areas who have the opportunity to list their properties, without joining as members, after signing a letter of intent to join Agents’ Mutual when overall support for OTM reaches 7,500 offices. These agents will be able to convert to the standard tariff at the end of an initial period.
“Since the launch of OTM the portals market has become fiercely competitive and in May 2016, Zoopla Property Group made clear it had adopted a ‘pragmatic approach to pricing’.
“It is a reality that there are some estate and letting agents who have a ‘wait and see’ approach to joining OTM.
“It is equally a reality that the more agents who join and the sooner they do so, the more powerful OTM will be in continuing to disrupt the duopoly and in providing an alternative search service for consumers and agents alike.”
In May, according to a Bloomberg transcript, Zoopla told City analysts in a briefing: ” . . . We have chosen to be very pragmatic on pricing over the course of the last 12 months whilst we’ve been defending our position against this one other portal role (sic) upon the market. I think most of you have seen how that’s played out over the last 12 months and particularly recently. I think you’ve seen our continuous 12 months of growth in terms of partner numbers. We haven’t reduced pricing, but equally, we haven’t increased pricing in a long time.”
Comments (35)
Oh and if they’re going to challenge Z or RM, they need to advertise more, update their website and gain brand awareness. People who I’ve been out to value and asked them if they’ve heard of OTM – 8/10 people haven’t.
You need to get out more, does sound like you work inside a closet.
Smacks desperation, this.
Again, the comments on here that I’m reading shows that they do not really care about the public who we are servicing, and more worried about the £ note.
Giving your client the best advice, exposing their property to the biggest audience possible to help achieve the best possible price will not be achieved by marketing on OTM – that is a fact.
Are you all here for a five minute argument or the full course?
As you are all aware there is always another portal just around the corner. OTM, RM, Z, etc.
I fully get OTM stance I really do. But OTM listen up.
I DONT CARE
I want buyers and instructions RM do some of this for me, Z sometimes too.
If OTM wants to be taken seriously drop the other portal rule. Nothing wrong with keeping onliners out, don’t mind that, but you wont get me until the OPR is dropped or you are out gunning RM.
Nuff said !
Surely they need to build up their numbers before they out-gun RM. By having the ‘one other portal’ rule they benefit from a ‘two for one’ position which allows them to catch up with Zoopla so much quicker.
Once they have done that then momentum needs to continue as they look at RM in the distance. If you want RM to be challenged then simply waiting on the sidelines isn’t going to make it happen. And nobody wants to list on three portals, which will be the case for many agents (you know how competitive we all are).
I do care. I care about the threats to our industry and I care about taking back some control of all that stock that we work tirelessly for instead of just handing it over to third parties for them to benefit.
Drop Zoopla, adopt OTM and you are a small step closer to challenging RM.
I think a change in hierarchy had something to do with Z current strategy and nothing to do with OTM.
The one other portal rule could actually be a red herring, for there are many agents who cannot afford to be on multiple web sites. May be the effort given towards OTM should also be directed towards RM and its outrageous fees, as if OTM did drop the rule I doubt we would see much change. RM are the problem and have always been, that is why OTM came about!
It seems that there is some disharmony with OTM members – a matter for them. However, after the claim they would be number 2 portal, it seems RM has got stronger and more expensive achieving near monopoly status. Zoopla has changed and is no longer the one trick portal and rather a Swiss army knife business with software, utilities, training, e-marketing etc and whose market share appears to have recovered a little. I didn’t see that coming. They have evolved and diversified and perhaps have OTM to thank for that.
I sincerely believe OTM is a good offering restricted by the ‘one other portal’ rule which, if dropped, would boost membership. Success would then be determined by results as agents would see the value for money & savings it may bring.
Hi Eric, There is certainly disharmony with some OTM members, I am sure there is disharmony with some Rightmove and Zoopla members too. Personally I think that taking circa 7,000 offices in 20 months is a huge achievement and the vast majority of members remain fully supportive.
Rightmove are Rightmove, they have always increased prices, grown revenue and improved profits, love them or hate them they are spectacularly impressive. I agree with your views on Zoopla, it needed to change, to diversify to add strength possibly in the light of OTM. Competition in any market is ultimately a good thing. It has moved away from a pure sales and lettings portal and is now ‘all things property’. For those users just looking to buy or rent a property it might be a little too much information?
OTM need to reach saturation point before they can even look at dropping the one portal rule. Without it I don’t think we’d be anywhere near the numbers we are now. True savings and value for money will only come in the long term. A lot of agents have taken a chance and committed hard earned cash to its success, at this stage we just need to keep pushing to get the figures up and only then will it be time for a breather and review.
This is PIE’s lead story, a very thinly veiled ad for OTM? Is this really “where news comes first”?
Ask the same question tomorrow down the other pub when this belatedly gets scrawled on their bog door.
‘As I understand it they are happily now signing online agents as they desperately try to get to this magic 7.5k number; despite hundreds having no properties listed, being in the Channel Islands, having signed suicidal £50 contracts (despite promises made).’
So that we can go onto OTM and look for ourselves, can you tell us the names of the ‘hundreds having no properties listed’ stevehar6898?
Not all the hundreds of course. Just say 25 to start with?
Two dislikes already. That’ll be Danny and harry I expect.
Now stevehar6898, have you got those names for us please?
So stevehar6898.
Shall we give you benefit of the doubt and presume that you have been out all day.?
Or shall we take the slightly less charitable view that actually you can not substantiate the wild allegation you made about OTM this morning?
I lean towards the latter – but you’ve still got the rest of the afternoon to prove me wrong and to come up with that list.
Would it make it easier if I asked you for just ten names maybe?
For “selected agents in some parts of the country” read “anyone silly enough to sign up” , this really is becoming a farce . Then to claim that they’ve somehow tempered Zoopla’s pricing … Just a reminder Ian , they don’t charge us that much , how have you done against Rightmove ? The reason most people signed
zzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzz
Sorry if it bores you Pundit, probably wont be that boring if your paying 5 times more than the “special offer” price …..
Widen your horizons Danny and post on threads that don’t involve OTM. Why not tell us where you stand on the online/hybrid situation.
Property Pundit
I’m usually the first to jump on people like ‘danny’ for being one-trick ponies (I seem to remember I have done exactly that to him in past…) but in this instance I have to say that he was one of the very few that commented on the Shaun Whiter hit-and-run article a week ago.
Fair dues to the guy for that.
That being said – it only makes him a two-trick pony.
Two ‘Dislikes’ (so far…) – and I’m actually defending one of the Anti-OTM Collective.
Raises a question or three –
Have I upset two OTM Members?
Is my faithful Plank still ‘Disliking’ EVERYthing I post?
… or doesn’t ‘danny’ like being labelled a two-trick pony?
Answers, on a postcard, please (not that I give a fuppenny which answer it is…)
Danny give up on the gold members being annoyed at the “special deal” businesses in every single industry offer deals to entice new customers…… Surely you throw away Sky, TalkTalk, BT and Virgin marketing material at least 3 times a week when they are enticing “New Customers”…. why do you think they do this?
I dont remember virgin telling me in its sales bumf that I would always recieve its best deal ?
Haven’t you bought something in a sale?
For me Danny for what it is worth, I would let the next 5,000 independent agents on OTM for NA-FINK, NADA, GRATIS, FREE…. let em on, get an audience, grow the stock, make its [OTM] name and then show the members how with the stock OTM can and will compete….. and from there build in a fee structure for the 5,000 gratis members gradually as RM and Z did!
and not your “admove” type estate agent by the way, ie not the ones who have a velux window in a building above a pub giving them a high street tag!
I am talking proper high street agents where your clients [buyers and sellers alike] can walk in and sit down, face to face chat with a human who lives in the same village and can really help overcome objections or concerns etc etc…..
Soon there will only be Saturday jobs in Costa Coffee and Subway – what is the High Street coming to.
Danny is talking about rightmove getting away with murder and idiot agents still supporting it. Why cant the ‘usual’ commentators stick to the theme.
. Only about 3 people in the industry seem to have worked out rightmove doing better since zoopla was killed by onthemarket.
OTM have only been running for 20 months and you seriously expect to put a dent in Rightmove in such a timeframe? Particularly considering agents (I assume you’re an agent) like yourselves do your best to shout it down!
I think most agents with the good sense to sign up did so for the (potentially once in a lifetime) opportunity to take back some control of their industry.
I decided to support OTM and was happy with the contract that I signed and the price I pay. I did not make the decision based on what others might pay in the future.
Whatever it takes to grow the OTM client base is fine by me. This was never going to be an overnight sensation, it was going to be a slog to get the necessary support in place and if it means a short term price based promotion to assist with that then bring it on.
Let’s be honest selling on price is hardly a radical approach. As an industry we seem to be pretty skilled ourselves…..
So to all you agents still unsure, come and join us, take advantage of the deal before it ends. You’ll be welcomed into a bunch of agents who are genuinely trying to take back control of our industry.
Take back control ?? What have you voted for so far ? Did you agree to the special offer pricing , are you happy that OTM are listing bedroom agents , what are your thoughts on one baprd member ivensting in an online agent and another setting up services for that industry. Youve been given the illusion of conrtrol, greedy people are easy to manipulate
Danny give it a rest mate, your making a fool of yourself …. again.
Danny, So, in your opinion the best way to run a portal with 7,000 offices is to put every decision to a vote? Come back to the real world!
I have confidence in OTM running the business to achieve the best results for their members. have they made a few mistakes, of course they have, haven’t we all in business?
If you don’t agree that an agent owned portal is a good thing for our industry then I respect that. But if that’s the case then stop bleeting on about it, if you want to engage and think you can improve how it operates then why not join and put your case forward from the inside rather than the sidelines. It will only cost you £50 per month.
One last thing, I am not really sure how signing up as a Gold member, committing to 5 years and loaning Agents Mutual money can be considered greedy? In my opinion it’s about backing an idea that I believe in.
“It will only cost you £50 per month” – actually if you currently list on Z and RM it will save you money.
I don’t care if this gets dislikes the only people who pay more on OTM than before are those who only ever listed on 1 portal. I see no reason why those who only ever listed on 1 portal wouldn’t give it a try at £50 – it’s only £600 a year what is there to lose? (if £600 is too much to lose then you’re in the wrong business)
The only reason I can see that people wouldn’t move is perceived “loss” of business/marketshare
Some of the main questions that should be addressed by OTM are: If I drop my No.2 portal How many of my buyers will still find me without using their preferred portal? How will my business handle this? is it worth the gamble?
@ Springett
get some market research done on searching habits – show us that it won’t be detrimental to our business to move to OTM show us this and you may feel better for the result.
Hi Clarkuk
I run an established firm of independent agents in a strong market sector, one of my branches has 14 competitors within half a mile. Joining OTM has made no real difference either way to my business. Just after launch one of the corporates wrote to all my clients suggesting that by dropping Zoopla we were less effective.
We responded with a Rightmove Intel report showing that we sold more properties than the corporate, had fewer weeks on market, fewer price reductions and achieved a higher percentage of asking price. In two years I think I have lost 2 instructions from people who gave my portal choice as a reason.
All the local OTM members have got together and taken collaborative adverts in the local press which resulted in a friendlier relationship.
Rightmove is vital to my business, my choice of second portal is not. I stand behind the ethos of OTM and my membership has had no detrimental effect on my business. The more agents that do this the quicker it will grow and the more strength it will have. Give it a go!
What a load of incomprehensible gibberish.
Gold members who signed up on good faith that they were getting the best deals were royally stiffed and this is clearly an attempt to brush that under the carpet.
As I understand it they are happily now signing online agents as they desperately try to get to this magic 7.5k number; despite hundreds having no properties listed, being in the Channel Islands, having signed suicidal £50 contracts (despite promises made).
Witness OTM’s slide from a promising way to reduce RM’s dominance into expensive legal action, falling member numbers (and revenues) and failure.
What next, a restructure of the business and hey-presto, the management owns 25%!?
“Gold members who signed up on good faith that they were getting the best deals were royally stiffed…”
So – what’s the issue here – is it that you don’t read too good? Or is it more of a case that you just bypass those pesky, relevant bits ‘cos they dampen your squib?
Allow me to point you in the direction of the bit that p***es all over your puny firework –
“…an opportunity… to list on OnTheMarket.com for 12 months with a listing-only contract and a small monthly fee.”
This story should have an interesting run, as always. I hear your comment but there was already a 3 tier system at the start, Gold, Silver & Bronze! Can you support your claims with actual facts or are you throwing around the gossip from others? As a gold member I was fully aware of what was what and am I concerned over someone getting a cheaper deal temporarily to encourage membership, just like the spring sales …. err no. To encourage the fence sitters is needed. Those that are a definite no, doesn’t matter what deal is offered as they are not taking up the option, so no-one can have an objection!