The boss of a major regional firm has said that in terms of delivering quality leads, OnTheMarket has been proving itself.
Malcolm Prescott, managing director of Webbers Property Services in the west country, said that one of its Somerset offices last week reported that OTM had “achieved in total 68% of Rightmove leads and that telephone leads were on a par with Rightmove”.
Another office, in the tiny town of Dulverton on Exmoor, reported receiving 16 qualified leads from Rightmove and 14 from OTM over a 30-day period.
Prescott said that he had not seen the matter of leads being raised in various recent arguments.
Prescott, whose firm is a Gold member of OTM, said of the proposed flotation: “If we consider the goal from the outset – providing a property portal where we, the agents, have some say in how the site looks and progresses, the best way to gain the traction that is required is to accept that these proposals are the only real way forward.
“Some agents have been concerned about OTM allowing the so-called ‘online, self-service’ options to list.
“I can’t see this as an issue: they are competition just like any other ‘cheap’ option where the service standards are different, and in my view, time will highlight this to home-sellers, as indeed it already is in some areas.
“The site has to be a place where buyers can see there will be the whole of market, so we have to take the view from the home buyer/seller – not as an agent.
“The one portal rule? Agents will take their choice and should consider what is right for their business.
“Webbers have always strived to set out a strategy that is right for our clients in the area we work – whatever that may be at the time.
“Overall our goal is still the same as it was right at the start of this ‘journey’ and we do see this as the right strategy to take it to the next level.”
Comments (33)
Interesting that they’re contacting people whose votes have not been received by post yet, and sending / accepting forms by email.
Picking up on part of Post No 1
…..”Imagine what could have been accomplished the tap hadn’t been turned off ”
OTM Members do wonder that, often.
However…. Wednesday’s Vote will demonstrate what Our Industry thinks about Our Industry.
If it’s a Yes Vote then I hope OTM V2 turns out as IS/The Board and the Yes Vote Members say it will be…. OTM V1 has NOT.
If it’s a NO Vote and nothing changes then, in my view, it is a Dead Portal Walking.
Somebody mentioned earlier “Critics should really look at supporting OTM…..” for “Critics”, if already an OTM Member? ….. lets substitute the word “Critic” with “Members who have supported OTM and who have a different opinion”.
“RealAgent”….it’s over now ….relax ….it’s what ACTUALLY happens that matters now – either way
I have spent the entire day riding my motorcycle on some very peaceful roads in Scotland, now tucked away in a hotel… free from the Yes or the NO
The Circus comes back to Town on Wednesday… I don’t know who “The Star Turns” will be… however it’s sure to be a memorable Show… particularly for those many Forum Posters who have absolutely nothing to do with OTM, The Duopoly Brothers etc… roll-up, roll-up ….it’s not the Greatest Show on Earth however for Our Industry, …its very own Star Event.
The most important people watching though are the circa 2700 AM Members who have hopefully voted and those non AM/OTM estate/letting agents who want a different option to drive Our Industry
I use OTM and one other portal and have for almost 3 years, the business from OTM has now overtook the other portal in addition to dropping the other 3rd portal it has proved that I didn’t really need them anyway. OTM is the best thing thats happened to my business, the fence sitters and critics should really look at supporting OTM if only to help themselves. This business is hard enough without having to be held to ransom by certain portals, don’t be foolish take back control of your business, join OTM…
Interesting that there is no reply from either Curious George or Agent V.
Does make me wonder, these guys are full of OTM should do this, lets take control and work together and all those that promote how the site works for them must have a less than pure motivation but when you ask the simplest of questions like “where does the money come from to make OTM a competitor” not one of them has an answer!!
Says it all really.
The only reason I haven’t replied so far is that I am, and have been for the last week, on holiday on a Greek Island with my family…. and today we have been on a jeep safari….so difficult to post.
In answer to your question you have what 6,000 branches paying upto £3,000 a year…..upwards of £15,000,000 plus income (I don’t know because I have difficult connection on the internet to look it up properly). For starters where does all that money go? There must be a way of directing some of it into more effective marketing.
So you go where others fear to tread, but where marketing spend is far more cost effective, out on social media, with a story to tell that no others can tell. You make OTM almost indistinct from the member agents……almost an extension of their normal marketing and you use the power of Collective Adaptive Intelligent Marketing. You drive vendor leads back to members…..you introduce products that the public want to use and revolve them around member agents and OTM.
At the same time you use what Agent Pink has suggested in the past to build very high results on google searches, and you use cost effective Adwords when needed.
You approach software developers who are on our side, such as Robert May, and ask if he would be interested in helping move the portal onto the next generation system.
You build a system of ambassador members throughout the regions in the country to hold regular quarterly meetings for members and potential new members. You build membership by referral.
You build the whole thing around both raising awareness but more importantly generating new business. It can be done….others are doing it now, including smaller franchises like Ewemove, which in the paperwork I received guaranteed (if I remember rightly) 10 to 20 vendor leads per month per £1,000 invested. You start off smaller scale per branch and build up. To start with you will have much bigger economies of scale than small franchisers anyway. Who wouldn’t be willing to put more money pay in to the marketing if it were generating lots more potential vendor leads?
None of this has yet been tried on a consistent basis. There are lots of other ideas I can add in, but some are being developed under non disclosure agreements, and others need to be done in secret until launch……otherwise you are just handing them on a plate to the opposition. That’s why I am coy about saying too much.
Would I be correct in assuming that the OTM leadership have decided the fat lady is singing and its time to grab as much as they can before bailing with a shedload of funds. All the founding principles of AM/OTM appear to now be discarded/abandoned. They are now attempting to create what they were supposedly opposed to from the start, a third go to portal. Fat lady, fat chance. So much for the so called saviour of the independent. This smells dodgy to say the least.
Supposing OTM stayed Mutual and developed a high level easy to use end to end product that every agent wanted because it did everything they needed including driving business to them and traffic to their website?
AgentV
Please note that I’m neither agreeing or disagreeing with what you say, however I am somewhat questioning WHY you are saying it.
If as is being stated a hundred times a day (and has been that way since #Day 1) they’re ignoring the voices of a large proportion of their Gold Members – who have bankrolled this whole sorry episode in our industry’s ongoing series – then why on earth would they take a nanogram of heed of your or any other non-Member’s suggestions for ‘the way forward’?
I fear that your efforts, however well-intentioned, are falling on those La-La ears yet again…
It would still stay at 6000 offices and maybe in 5 years would grow to 7000 proper fully paid up offices which still wouldn’t produce ANYWHERE near the £219M that Rightmove turned over last year in fact wouldn’t even be in the same country let alone ballpark of the £129M POST tax profit that Rightmove made so…….please do tell me how without investor money it would even start to compete regardless of what high level easy to use product they had???
There are certain people who have the exact answers to the question you ask.
You need to vote NO and get a chance to find out…. rather than rushing the decision to float for the benefit of the very few.
a vote NO now means that even if it is necessary in the future the shaeres will be worth more, and it won’t be necessary to give alsrge proportion of them away.
Well thats not really a good enough answer Agent V. You and others have said why we shouldn’t vote yes because questions haven’t been answered but you’re asking EXACTLY the same.
So I ask again, HOW do you see OTM reaching the same numbers and public recognition as Rightmove without tens of millions to spend?
Posted an answer below
In my patch nearly all members that have signed up for the 5 years have stopped paying the monthly subscription as the leads are pitiful.
From personal experience we get a few leads through and at a reduced rate i would say it is fair, however if i was paying the same as some of my competitors i would also stop my monthly payments.
“In my patch nearly all members that have signed up for the 5 years have stopped paying the monthly subscription as the leads are pitiful.’
I hope they’ve sent their votes in on time then!
“If we consider the goal from the outset – providing a property portal where we, the agents, have some say in how the site looks and progresses…”
I presumed there was a point of some description to follow those words. I eagerly read on hoping that was the case.
It didn’t.
It couldn’t.
‘Cos there isn’t one.
Of course they are and so the kiddology starts all over again, get ready for daily doses of successful leads.
That said most points raised are correct, otm is our only chance of some financial control over the two main portals so good luck to our future one and all.
Is Mr Prescott or Webbers going to make out financially from this ? It’s time to declare before unsuspecting investors get ripped off
Hang on a second. ALL MEMBERS GET SHARES so why should Webbers motivation be under scrutiny anymore than anyone else.
I welcome debate but puerile comments like this just p*** me off.
well if your going to come out public in saying what I believe is misleading (as the general consensus is that one the market is not delivering), then your entitled to be scrutinised.
if these guys are going to make 6 or 7 figure sums with this floatations, then they have to declare their interest as this misleading
So what you are saying then is because it doesn’t agree with your view and is a positive comment about OTM that they must be lying?
How you would know that I love to hear?…….Actually its my turn to ” believe” I dont believe you have any evidence that what Webbers have said is misleading do you? In fact I hope you’re prepared to have the b*lls and actually admit that because you dont want it to be true thats why you are calling it misleading!!
And many of us will get some money back, IF the share price is good IF we wait another 5 years and IF we offset it against what we put in or have paid to date. So when you start talking about 6 figure sums I would suggest you do the maths……a 15 office outfit at £350 per month = £63000 per year x 5 year commitment = £315,000……Does a 6 figure payback seem as unreasonable now???
Bang on RA, perhaps Curious George should declare an interest ie is he a an OTM member? If not why is he ‘interested’ at all if we throw our money down the drain?
I’d also be ‘interested’ to know how many of the other people here that come out of the woodwork every time there’s an OTM story (but strangely aren’t ‘interested’ in any other PIE stories) are actually agents.
Some people only seem to come to life when some sort of ‘OTM story alert’ flashes up and gets their ‘interest’ as they are eating their Pot Noodle in bed. Makes you wonder what their motivation is, it’s almost as if another portal is . . . . . . .
Is that you Malcolm??
Unfortunately some people don’t like what I say because they know I’m right
Please demonstrate any area of your posting you can show is “right”???
And then perhaps you’d like to make a comment on the other points I have made.
Looks like someone can smell the dividends already!
OTM is the only sponsored link in google for property to buy in Dulverton . Imagine what could have been accomplished the tap hadn’t been turned off to pay for a now unneeded court case and consultants to arrange Ian’s float
I was going to blurt out THAT COURT CASE WAS NEEDED – They signed up for a OOPR and that was that!
alas…….
Not sure anyone could argue against that now…….. as I am still wondering if there can be a counter claim that AM knew the OOPR was being dropped so that was in theory a complete waste of time.
Although…. danny, you could argue, if the IPO vote is a no, the OOPR stands for as long as the member agents want it to, therefore the judge agreed with AM so law is law and that is that.
I get /6 leads a day from my website and 3 from zoopla and rightmove… Can I have £5:million as well?? Iam clearly better at running a business.
Bless You
You need to be on the new OTM board to help direct business generation!
can I have a villa, a car and get paid for no results? Iam out. #conscience
This could be done all over the country to generate agent leads….. but perhaps using a more cost effective method.
And it can be done without the IPO.
Develop high levels of business generation and new members will want to join…. generating new income.
it can be done if agents leave rightmove and public Learn where all the property is. You dont need money to do this you need sincerity from both agents and otm.
Really? Sounds complicated BY.