Although EYE runs plenty of stories about OnTheMarket, in-depth analysis does not really belong on these news pages – which is one of the reasons we set up Arena.
Smile Please has used it to good effect for an extremely interesting look at OTM.
It’s well worth reading, no matter where you stand in the debate, and can be found here
Comments (25)
I’d say OTM is working, you just can’t expect too much too soon. Northern Ireland seem to have got on board, and it’s looking pretty dominant over there. If everyone over here did the same this thread would be over, and we could just get on with things.
Thank You for your balanced synopsis Smile Please.I hope you don’t mind me adding my penny worth:
The two main portals have diversified during OTM’s tenure:
1. Real time data feeds gifted control of new instructions and therefore many ‘hot’ applicants to RM via ‘instant alerts’.RM could not offer these alerts prior to real time feeds?
2. Z appeared to plug the gap from agents, revenue and ‘instant alerts’ by buying Uswitch and PSG potentially providing them with the data required for any cross selling ambitions they may have?
3.’Instant alerts’ also happen to trump ‘early bird’alerts through sheer brand awareness and volume.
4. Have RM made any assurances or promises lately that they will not cross sell their applicants, drawn in from their paying members property adverts, that the agents have paid to secure upfront, if they offer ‘No Sale, No Charge’?
The best weapon RM and Z have to prevent agents working together is the agents themselves via additional products?
How have OTM diversified to counter these very clever strategic moves from the two main portals?
OTM’s early bird was a smart move but had to be followed up with a reason why many more agents should wish to use it for everyone’s benefit? They failed to come up with a plan to achieve this.
OTM needed to attract lots more agents so did so by offering reduced membership deals to grow the member numbers. This helped but also upset some of their members?
Why are OTM and AM one and the same? OTM have ignored AM when this could be used as a vehicle to draw many more full service agents together without insisting on the one other portal rule? A potential alternative for any pending ‘anti competitive’ legal wrangle?
OTM have diversified into overseas property whilst some board members have diversified into Yopa and Viewber. Has this created trust issues for many new members?
Have OTM sleep walked into a very expensive legal wrangle that may risk £4,million pounds of members money, if they lose?
Why can’t OTM simply now change this ‘rule’ to….. ‘Any acquisition of any of our members businesses by a non member agent shall not have to commit to OTM as part of the purchase deal ‘? How many such acquisitions are there each year 50 or so?
Are OTM board seriously suggesting that they may spoil a members sale in the future by insisting that any new buyer must use OTM as part of the deal?
Things change, what if a member owner died, fell ill, or wanted to retire earlier than expected?
This is a mutual organisation for the benefit of its members not a corporate institution!
By changing this ‘rule’. it may be more difficult to rule against OTM on a competition basis as all those members would then have voluntarily agreed to the one other portal ‘rule’, whether a Z backer or, not?
I am so frustrated by all of the above. Over many years contemplation, I understand that the only o get this sector working together is to come up with a plan to gain more new instructions whilst defending your position.
I repeat the question I asked recently, Is Ian Springett still in charge as the silence is deafening?
Watching PeeBee arrive on an established thread is like watching World War I footage of the ‘Creeping Barrage’.
Fascinating and devastating in equal measure.
OTM was never a good idea.
Estate Agents all think they’re the best agent around, and to get a bunch of egotistical morons working together was never going to work.
Ok, not ALL agents are morons or egotistical, but a large % are.
And by the very nature of this post you have labelled yourself as one, or both.
Care to pick which and thereby screw down the lid on it?
(just in case Ros’ smutfilter picks it up, the word with all the *s is of course relating to “a short, slender, sharp-pointed metal pin with a raised helical thread running around it and a slotted head, used to join things together by being rotated so that it pierces wood or other material and is held tightly in place.” (credit: Google via Rummage4)
WELL I NEVER – it didn’t!
I’m moronic for telling the facts?
Righto.
‘I’m moronic for telling the facts?’
WHAT “facts”? You “told” us NOTHING in your post.
And WHERE did I state that to be the case? You’re laying down mines without a map here sunshine – to do that you need to be able to retrace your steps WAAAAY better than you’re managing so far.
What you actually did was firstly state an opinion relating to OTM which carried no substance whatsoever; then you stated a second opinion in relation to what you initially described as the personality traits of “all” – then in the next sentence amended it to “a large %age” – of your colleagues in industry.
But look at what you said. (I’ll be kind and use the second, watered-down, version that you seemed to feel necessary to quickly add.
“OK not ALL agents are morons or egotistical, but a large % are.”
What you are ACTUALLY saying there is that you are either one of the large %age that are moronic or egotistical… OR one of the small %age that are neither.
If, on the other hand, you consider yourself to be one of the second group (which you state are the minority) – thenthat can be nothing other than an egotistical opinion as you have no proof to the contrary – putting you right back in the first group and are therefore moronic or egotistical – thus confirming your own theory.
You choose.
Someone’s caged is rattled.
Naaah – not even close to maybe on the ‘rattled cage’ front, I’m afraid.
Trust me – you and everyone else will know if and when I start to get the slightest bit hot under the collar.
For a start – I’d take your head clean off your shoulders. That would be a good indicator that you’re pushing when you should be running.
I’m just messing with you at the minute.
But casually labelling what you state to be the large proportion of our industry as moronic or egotistical isn’t quite what the sharpest knife in the drawer would be doing, to be frank.
Which brings me back to the question of which you are – moronic or egotistical? Or both.
Or neither – remembering where that takes you straight back to.
You take your time – it’s a tough choice.
;o)
This was in no way an “analysis” because it contains no data at all. This is an opinion piece.
Wrong yet again harry hood.
Analysis: Detailed examination of the elements or structure of something. OED.
I couldn’t agree more, some good, fair and true points, but mostly just opinion.
Some of the opinion/facts what ever you wish to call it, are based on localised info, not how things differ around the country such as for loosing market share. Some will have lost massively, some perhaps a little loss/gain.
When things like RM and Zoopla taking direct listings is suggested by anyone, it is at that point I switch off. As neither have even once hinted they have any plans for this, quite the opposite in fact. I for one, am a little bored of die hard believers on this, when it is pure hearsay. If a time comes either suggest it as a possibility, and don’t completely refute this will happen, then perhaps have a moan, but until then. Let’s stick to facts please.
OTM was an idea, which seems to very much of lost it’s way and direction against it’s much larger competition, and has a much lower than anticipated lead (and customer service) level. Which is clear for all to see. 18 months in and still no leads levels published, this only tells us on thing, and it isn’t positive.
OTM is SUCH a good idea, but badly implemented. As I have said to their rep a number of times, it’s as if they forgot their reason for being – enabling agents to sell houses.
Where they lost any chance of ever nailing RM was in their “drop a portal” criteria. Madness. Rather than trading on higher quality, greater effectiveness, more sales for the agents, instead they concentrated on breaking a duopoly. The idea is lovely, romantic, noble, but ignores the reality of what a portal is for. I will never be able to signup to them unless they allow me to keep the others. I have no doubt that were they to do so, and concentrate first on ZPG, they would gain ground faster. Give me something I can sell to my clients as an advantage!
‘If hybrids had been involved. Brand awareness would never have been an issue and OTM could have been a key player in the portal world.’
I am going sit back and wait for PeeBee to come along and give you his opinion of this assertion TheHybridAgent.
I think you may need your tin hat.
I long for everything he says too. My hero as well
You are such a fibber harry hood 😉
Done.
Feel free to remove the tin hat.
This is brilliant…
A collective of agents working together to try and change consumer habits was never going to happen.
As OTM started to lose momentum signing up new members. They did the inevitable… Reduce their fees for new members.
You can tell OTM is ran by agents… They’re favoured tactic!! If in doubt drop your fee.
Less money, less advertising, less brand awareness for consumers.
I can’t help to think though. If hybrids had been involved. Brand awareness would never have been an issue and OTM could have been a key player in the portal world.
Love to start the day off with a belly laugh and you never fail to deliver TheHybridAgent!
Wow, I’ve never read a post where someone has had their head so firmly up their own backside, Hybrid.
Hybrid agents ARE Estate agents, the outcome would have been exactly the same.
TheHybridAgent
It seems I have to respond. Here it comes – hope the tin hat is securely in place…
B0110cks.
There you go.
Wow! I was half expecting a decent comeback from the celebrity himself…
OTM could only dream of the same level of traffic on their website as the Hybrids.
The rewards for OTM would have been huge if they had also allowed hybrids to become members. More exposure resulting in greater brand awareness and ultimately more members.
“Wow! I was half expecting a decent comeback from the celebrity himself…”
1. I ain’t a celebrity. To save typing it again here’s me, in cut’n’paste format:
‘I’m just a minute tooth on a teensy cog, which is whirring frantically away inside a mahoosive machine best known as the property industry. I gnaw at ankles.’
2. “A decent comeback” requires some meat on the bone to get stuck into. You provide me with something of substance and I’ll blow your head clean off.
You shouldn’t expect me or anyone else to work with the woefully inadequate, flimsy materials you supply.
Hybrid: the offspring of two animals of different species or varieties, such as a mule!
If they try to bray it starts out with a horse’s whinny and ends with a donkey’s ehaw ehaw.