With six days to go, over 4,600 branches have signed up to OnTheMarket, equating to 93% of the original 5,000 target and with numbers continuing to rise daily.
However, not all of the newest members will be on the site at launch next Monday – and it is clear that the launch of the live site will be very carefully managed, without the kind of big bang approach that so frequently misfires.
The launch is on target and, we understand, exactly as planned.
Chief executive Ian Springett said: “We have well over 4,000 branches as Gold and Silver members – they are contracted for five years.
“Membership is continuing to grow in those categories as well as in the new Bronze membership category (a one-year contract).
“Not all the recent joiners will be on the website at launch as those contracting since the year end need time to manage their other portals to meet our ‘one other portal’ rule as well as to get data feeds implemented, but they will be there soon after.
“We have also had a surge in agents registering at our Agents’ Mutual website as the excitement about the launch builds and we hope that many will come on board as soon as we are live and they can see OnTheMarket is real and one of the new Big Three UK portals.”
Comments (25)
Consumer: How are you getting on with marketing my property?
Agent: We’re dropping Zoopla so that we can advertise your property on an internet start up
Consumer: Why are you doing that?
Agent: So that we can save money
Consumer: Will it mean that I save money?
Agent Err, no
Consumer: Will it mean that my property is seen by more potential purchasers/tenants?
Agent Err, no
Consumer: Will it mean that you will achieve more for my property?
Agent Err, no
Consumer: Will it mean that you will achieve a quicker sale/let of my property?
Agent Err, no
Consumer: You’ve decided to drop Zoopla and Primelocation. So how much money are you actually going to save?
Agent Err, not much actually, probably £ 50 per month per branch.
Consumer: Oh, that’s not very much at all is it, particularly when you’re charging me £ 1,000’s to market my property.
Agent Err, quite, I suppose it isn’t when you put it like that.
Consumer So you’re saving money but I’m not. So why exactly is this good for me?
Agent: Because every year, Rightmove and Zoopla were coming along and putting their prices to us up by 10-15% which meant that we didn’t make as much profit.
Consumer: So this is entirely for your benefit, not mine.
Agent; Well if this internet start-up is a success then it will mean that Rightmove and Zoopla will hopefully not put their prices up as much so they have, and they may even lower them. This means that we won’t have to put commissions up for marketing your property.
Consumer: So will that mean that I pay less?
Agent Err, no, not because of that anyway, and where we can we’ll still try to put our commission rates up in years to come.
Consumer: You say that you have had these price rises from Rightmove and Zoopla but I’ve looked around various agents and I am already paying less commission now than when I moved home 5 years ago. Market forces mean that most agents are now quoting 1-1.25 % to sell my house.
Agent; Well yes, but this will mean that we can make more profit in the future.
Consumer That’s assuming that this internet startup helps you to sell/let my property. In the meantime I might as well use an online agent either as well or instead of you, to make sure that my property is advertised on Zoopla and Primelocation and get best coverage?
Agent: No. you can’t do that because it is against the terms of business agreement that you signed.
Consumer Umm, so is your changing the terms of reference. I appointed you on the basis that you were going to advertise my property to the whole of market. Will this internet start-up have whole of market coverage?
Agent Err, no, but neither will Zoopla or Rightmove. Because of the contract that we signed with the internet start-up we and the other member agents will be restricted from advertising your property as widely as we were.
Consumer: But I’m not restricted, so I might as well sign up to an online agent who will promote my property on Zoopla & Primelocation whilst you try out this internet start-up to see if it’s any good.
Agent: But you can’t because of the terms of business that you signed.
Consumer: But I’ve stuck to my side of the agreement and ultimately, do you want my business or not?
You had me up until you mentioned online agent! Ha
Clearly you haven't a clue about running a business and it is about time you went back to sales school. Utter nonsense, wait till the site is active, then come and make the same comments.
Is no-one else concerned about the possible removal of all competition over time leaving AM/OTM the sole portal left functioning? Consider it's portal run by Agents and endorsed by the NAEA etc…isn't elimination of all other contenders massively dangerous in the long run, for both the profession and for customers? I think I'd rather a duopoly than a monopoly…
Agree entirely, and even scarier (and more likely, as it's the road we're presently on) is that AM/OTM weakens the #2–inherently strengthening the #1–but then failing to achieve anything close to #1 status itself, leaving us in a post-OTM Rightmove Monopoly.
So RM doesn't already have that monopoly then and isn't OTM actually what your complaining you want, another competitor.
RM has majority but not a monopoly, Zoopla still maintains a foothold of sorts, albeit a lesser one, and (though I'm not personally a fan of most) online agents are also being excluded (causing situations like that with Hatched). My concern is that OTM is being founded with the intention of holding that monopoly, and down the line will be enforcing a 'one portal rule' instead.
Don't get me wrong, I'm not against the general idea of OTM, I think it's great to have an additional competitor and if they provide a decent service then great. But the methodology and attitude is brutal with a scope of selfish aggrandisement from those at the top.
And ukpropmaster has an interesting point there, if OTM flops (professional opinions seem divided on this right now, as prophetic as they are, but it was interesting to see Barclays' report on this today) what effect will this have on RM/Z/others?
My hope (of sorts) is that either those in AM have a revelation and change of attitude to see the damage they could be causing to the UK property market (which ultimately impacts our economic standing as a nation). Otherwise, should a flop come for OTM, I hope that Zoopla more than regain the share they currently hold (they seem to have more of a right attitude from what I've experienced so far). What I really want is the industry to start rebuilding itself on integrity and transparency, not continue to play to and strengthen the steroeotype that plagues us. That comes down to the individual, so we all have a job to do.
"…the new Bronze membership category (a one-year contract)." Interesting – at the AM Meeting I attended it was said that there would be NO tie-in period for bronze…
4,600 Agents IN – over 10,000 Agents currently OUT.
What, I wonder, will happen from here – especially to those that I seem to remember Robert May referring to as "copper and tin" levels of Agents out there – that I would imagine form a large chunk of the current "OUTs"?
Only way to make this happen properly is to grow from here – and fast. Prove the "me's" of the industry wrong. I, for one, hope that happens.
I agree that faster growth is the route to go and I don't expect everyone joining to commit up to 5 years as we have done with our business, however I would like to think that any real UK estate agent would commit for at least a year as we know growth takes time. It takes time to judge overall success or not and basing whether to stay or go on a few months OTM membership seems completely unrealistic. I would also say this….. as a smaller independent estate agency business I stepped on board at Gold Level to assist, along with many others, getting this off the ground and with the hope that it would encourage the fencesitters. With almost 30years of my life invested in this industry I feel this is a huge turning point in our industry. If success eludes us then in my view the UK Estate Agency Market is a bleak prospect if we are to work for and be dictated to by The Duopoly!
Nicely pout GPL. Can't understand what all the fuss is about not joining, OTM will not hinder your marketing company or stop you from gaining customers, is a lot cheaper than RM for those cost conscious fence sitters and YES it starting off tenfold bigger than RM & Z ever did. No I don't work for OTM but I know a winning horse when I see one and I still have to see anyone come up with why it will not work, just the usual inferences by RM reps.
"I still have to see anyone come up with why it will not work, just the usual inferences by RM reps." Hmmm… not so sure about that, woodentop – but then we are all entitled to our opinions! On the subject of "RM reps" trying to pooh-pooh things – don't you find it somewhat ironic as I do that many of those much-'hated' individuals of two years ago are now driving AM company cars…? ;o)
You're right, we've all had a long time to decide, some decided from the outset to join and others still sit on the fence, it's simple maths Barret_A
Hilarious to read all these comment from Zoopla shareholders and bitter agents with ties to other portals. OTM will be a success and there is nothing you can do about it. Wake up. smell the coffee, sell your under-performing shares and join the success. 🙂
The truth of it is, no one actually knows. You, AM/RM/Z or I.
OnTheMarket.com on target for launch date. How Rightmove & Zoopla would have loved to have launched with the membership support that Agents Mutual has before its launch. Certainly support in my local area is very strong and the sentiment is that we look forward to dropping Rightmove when the Agents Mutual Tipping Point has been reached…… which seems to be likely to happen sooner rather than later. Happy Days….. to have just the One Property Portal – OnTheMarket.com so we can focus on estate agency business rather than how many portals/online shop windows we are on!….. funny?….. I have just the 1 window cleaner….. not 2 or 3.
I've said this once and I'll say it again – By everyone dropping Rightmove you could potentially be creating an absolute monster… Do you think Rightmove would think twice about becoming an "online agent" should their market share of agents start dropping? They have the money to be far bigger than any online agent out there… be careful what you wish for guys
Front Page News! And Rightmove truly is the Portal Monster! The UK Estate Agency market has to dance to their tune or else?…… so, that's it!….. the stark image of Rightmove holding the UK Estate Agency Market to ransom?…… do as we want or else? The sad, sad part of this is that we fed and feed that Rightmove Monster with property!….. and you say that we can't change our mind?…… you infer that Estate Agency is pure marketing and the Sales input from the estate agent is a distant part of the whole process!? Dream On! dave_d you are indeed part if the Dozey Dave Band! Bridges NEED to be burned in order that the real estate agents can free themselves from the Rightmove Monster which has created the impression that it sells property! It's long overdue that real estate agents distanced themselves from the Rightmove Magical Mystery Property Portal….. when in fact it is only an Online Shop Window!…… the lines have been drawn and the change is underway….. Welcome to OnTheMarket.com….. we waited almost too long for your arrival….. Thank G@d you're here just in time!
The first three comments are typical 'read only half the story' doubters. If you read the whole, clearly those joining in January have to give 1 months notice to the portal they intend to drop………..duh!
and this been sprung on those agents recently has it? also nothing stopping them just asking RM/Z not to display their properties from the 26th. come on you don't really think that notice is a valid reason do you? it stinks of 'we are going to get kick back and need to buy some time'
"Contracted for five years" You silly silly sods…
… if an agent decided to become a gold member, they pay substantially less that late arrivals. Perhaps it is rather too soon to determine who are the winners and who are the losers.
Too right – a day can be a long one in estate agency!!
sell, sell sell!!!!
90% of launch target… Some of the agents stock won't be there .. Mmmm
Call me a sceptic but….’not all agents who are signed up will be on site on the 26th’… Sounds a little bit like someone is getting their excuses ready for the kickback about very little stock being visible come Monday!