Today marks a new era for the UK property industry with the launch of OnTheMarket – the result of what can only be described as agent power.
After months of speculation, excitement and doubts over an issue that has divided the industry into sceptics and supporters – and, according to chief executive Ian Springett, “rough play and dirty tricks, intimidation and bullying” – the site went live this morning.
Springett said: “It has been a hell of a ride so far.
“We could not have hoped for a better response from agents: that part of it has been amazing.”
He promised that things have only just begun: “This is the end of the beginning,” he emphasised. “We will be adding new features and new refinements.”
He also promised that recruitment of new member agents would be a top priority.
At a well-received press conference on Friday afternoon, both a preview of the site and the new TV advert drew praise from an audience usually known for its cynicism.
The site was particularly liked for its speed, while the TV advert – with rousing music by the London Philharmonic Orchestra and due to start screening on February 1 – also attracted favourable comment. The advert features Apollo Rising by Terry Devine-King, and can be seen here
That the site has got to its launch has to be seen as a triumph for the twin acts of belief and unity shown by many smaller independents in the face of frequently bad publicity, many doubters and split opinions in the industry itself.
With 2,200 firms on board, over 80% have fewer than three branches. Altogether there are some 4,600 offices who are expected to have put up an inventory this morning of between 230,000 and 250,000 properties, equivalent to about 25% of the market.
Springett praised the faith in the enterprise and the co-operation of high street competitors with a common goal.
He also expressed gratitude for the way high street agents everywhere have promoted OTM: “It has been invaluable outdoor advertising for us – and much cheaper than a Zoopla bus stop.”
High street agents will maintain their key role: “Half of our marketing will be done by local agents.”
Nor will recruitment let up, with the aim of getting 10,000 offices on board, paying £250 per month.
“It is trying to get people to believe that they can do it, no matter what Rightmove and Zoopla and various sections of the media tell them,” said Springett.
He also cited good working relationships with software houses: “They are committed to their customers, and they know their customers want OnTheMarket to work.”
Springett firmly debunked any idea that OnTheMarket would cash in by selling up – “It would need a 90% vote in favour from members, and we wouldn’t even get that from our board”.
He also knocked on the head suggestions that it did not have enough money behind it.
A total of £9m raised from agents had been necessary only to bring the site to launch. Listing fees, as they stood, would bring in £14m a year income. Increased membership numbers would bring in revenue to very near the £35m that Rightmove says it costs to run its own site: “And of course, we don’t have to pay shareholders dividends, which is a compelling proposition for agents.”
Springett said that unique Earlybird listings will help drive traffic.
This is a voluntary initiative, by which listings will appear 48 hours before they go on Rightmove or Zoopla.
Earlybird listings, which should start to appear later this week, will also have the boost of being given special displays to underline their exclusivity.
Springett said: “More than half our agents have indicated that they will do this – and it is helpful that it is the agents’ idea in the first place.
“But then it is not a good idea to blast property everywhere when it comes on the market.”
Comments (129)
OTM boast that their agents are 'experts in their local area', with the insinuation that RM and especially Zoopla are not. But when searching what local information do you get on OTM? And that's the biggest disappointment, because you get no information http://www.renthusiast.com/2015/01/otms-biggest-problem-its-portal.html
"consumers believe that and now we have easy access to credible information via the likes of Zoopla and Rightmove". OK so where do they get the information from that concerns you, don't make me laugh it's Z valuation tool. Its from your local high street estate agent.
that's exactly my point and in fact Z is the one that is having the last laugh. because they use agent information to create a better consumer experience than OTM, and OTM is owned by the agents .. my point OTM agents should also be using that information to their advantage but they are not that's why i said i'm disappointed
Passing off random number generation as a property valuation is not a better consumer experience it is misleading. Now since you are discussing using Agents data do you have any idea what data is being passed to Zoopla for them to create what you describe as a better user experience?
it doesnt matter. what matters is consumer experience and credibility. if -as you suggest- the information being 'passed off' is misleading, why is OTM not using this as marketing ploy? that's my point. I'm not pro Zoopla, I am disappointed as a consumer that OTM did not pick up on this simple fact and use it to their advantage and ours as consumers. massive fail in my opinion.
Sorry for the delayed reply Harvedge, the Agents who have joined AM individually do use the flaws in the Zooopla and their other competitors valuation methodologies to their advantage much to the benefit of their clients. When you talk about consumers who exactly is being failed? If you are talking about purchasers there is no law preventing you from employing trained negotiators just as vendors do.
Just a minor point, 'harvedge' – you DO realise, I take it, that the report you offer as justification of your statement basically is a cobbling together of FUNDENTALLY FLAWED INFORMATION?
I mean – I'd hate to think that you were oblivious to why we are all maniacally laughing at this…
@Robert May – can you explain how AM agents use the flaws to their advantage and specifically how they use this advantage via OTM?
@PeeBee – the fact you are all 'maniacally laughing' shows almost exactly what is wrong with your industry. I am writing as a consumer, I am not an agent. If the information is fundamentally flawed, prove it, instead of sitting back and laughing at me.
I don't think I did say they use their advantage via OTM, the OTM agents have been around long enough to use any weakness to their advantage and when gifted someone or something that is simply guessing at value winning instructions is easy and profitable.
You have asked Peebee to prove the Zoopla valuation tool is flawed. Using one of my properties tell me the value of Dingle Dell EX33 1PR
Robert – PLEASE tell me that the last 2 properties sold in that location REALLY WERE called "Guns" and "Roses".
My life would be a much better place if this were true… ;o)
It is true, it would only have been better if the trafic flow was the other way, you have to drive down the lane so they read as Roses and Guns so it does scan perfectly. As Harvedge has abandoned us what do you reckon DD is worth according to the Zoopla alogorithms?
"If the information is fundamentally flawed, prove it…" PROVE? Why – because the "report" offers "proof" of its' validity? Or just because you hate someone to challenge something you like to think is 'right' as it fits your agenda?
Whatever – let's start with LINE ONE of the piece of ridiculousness – written and published, it appears, on Monday: "Today's launch of OTM is described as a 'leap of faith'. With the high street estate agency model in serious decline, some agents got together and decided enough is enough!" It's the second sentence I am focusing on here – in which the words "serious decline" in the article form a hyperlink to ANOTHER pile of chuff entitled "Estate Agencies rocket by 57% in the past year" – which has clearly got the author YOU refer to all warm and tingly. Unfortunately, however, said typist failed to notice one small issue – that the report he referred to is MONTHS OUT OF DATE. The "rocketing" figure quoted (a truly mahoosive SEVENTY SEVEN Agents – or approximately 'nought-point-bu99er-all percent', in real terms, of the total of UK Agents in business) was up from the previous year's figures… collated in JUNE 2013, according to the small print at the bottom of the ********.
NEXT – your "evidence" goes on "Unfortunately, the reputation of high street agents is that they are not experts in anything at all" Once again – embedded hyperlink therein takes you to an article with the cutesy entitlement "15 Reasons Why Estate Agents Are Idiots". You and your mates certainly have a problem with us Agents – look it's a dirty job but someone's gotta do it… and we are well placed to do it thanks to our skill at dealing effectively with wassocks, wallies and wasters. If you want to be classed as one of the former, then tell me here and now that said article is a true representation of our profession and that it DOES offer substantiating evidence of the validity of the report that apparently gives you a major nether-regions moisture issue.
"I am writing as a consumer…" ********. The last thing ANYONE wants to be called is "a consumer". You use the word like it's going out of fashion. Here's the latest news – hot off the press – it NEVER WAS "in fashion".
WOW…as the end of the first day of OTM comes to an end , I have to say I'm shocked at how many calls we have had from the public. They have all said they absolutely love the site. We have received 387 calls for property advertised on OTM which has lead to 119 new valuations and 296 viewings……just need to make sure our stock of valuation forms and offer sheets is topped up for tomorrow….surely with figures like this EVERYONE will be signing up (except onlinies) within the next few days and we can all drop Z and Rm by Friday lunchtime……..I KNEW IT WOULD WORK…..!
119 Valuations and 296 viewings!? Christ i know regional estate agents that dont do that in a week? Wilko not saying it a tall tale but how many offices do you have??!!
Hi Smile "Wilko not saying its a tall tale"……..I figured that bearing in mind the amount of nonsense and rubbish being spouted the anti brigade, I'd have a go at it myself….. quite easy really : )
Ha ha like it wilko!
For the record we took two properties on today, both of which had received letters from Zoopla about their agents changing to OTM being a big mistake. Both vendors were disgusted as the previous agent had no interest the whole time they were with Zoopla.
ZZzzzzzz…….
OnTheMarket.com looks amazing, clean fresh and fast with extra large photos and plans. Not only it the business model right but it blasts the greedy PLCs right out the water. LOVE IT!
clearly it works in your area, as does mine.
So glad I sat OTF! Hah
Just searched my area to find 7 agents 6 of which aren't from my area… Well done Springett
Interesting that, as agents were asked to confirm locations etc about their business's prior to launch. Maybe you can enlighten us as to which town so that we can all have a laugh and Mr Springett can get it fixed if it is true? I've looked at my area and it is spot on and just for the sake of it, I trawled a few over areas around the UK which I know well and they are correct to. I'm not saying there will not be errors as the task was enormous but I'm sceptical as so many posts before launch were anti and fictitious and it still continues. Strange that those that are pro OTM are in the main saying it works and those that are not, say it doesn't!
Some interesting new "names" being anti OTM, since Joe Public doesn't really know about Eye? The reality is it's here and it works. It is in a far better starting position than RM or Z ever had, so there is no reason for it not to grow. We have been showing it to consumers most of today and they love it … common statement is, so fresh, no-nonsense search and search result. They all noticed it was easier to view a property without advertising. None said RM or Z was better, actually the opposite, which made me grin more than once.
Cant seem to comment in reply to Paul H so am forced to start a new trail.
The fact that I'm trying to be objective on this fantastic forum seems to rile you so perhaps I've misunderstood the format. That's was not my intention but its your issue not mine. In regards to being corporate agent, you could not be further away from the truth. For the record, you are right, from being a supporter of OTM I decided not to go ahead and took a wait and see approach for reasons that are well documented on Eye. Difficult as it may be to believe, I really do hope OTM succeeds and am on rolling monthly contracts with right/zoop in readiness. My procrastination will end up costing me in the long run but I made what I thought to be the best decision at the time. In regards to my 'negative comments' they are borne from disappointment and frustration, as appears to be the case with many who have posted today. No doubt they too are corporates.
Phoenix – Sorry you had a problem trying to reply to a comment. We moved server over the weekend and inevitably there were a few issues. If anyone else has the same problem as Phoenix please would they let me know by email. nick@propertyindustryeye.com
Thanks Nick and no problem
I would not worry about it Phoenix, anybody who dares doubts OTM is a portal rep, corporate agent, stupid or has a vested interest in RM or Z according to a number of pro posters. I too am in the same boat as you, Independent agent wanting OTM to work but as of yet not got the confidence to back them on what they promise through lack of details just hear say.
Yeah, you can't speak up against OTM. If you do, you are biased or have 'vested interests' – but those very people who have an interest in OTM can come here and gloat about it despite the many shortcomings. Whatever happened to objectivity?
To be fair I think you would have to concede that works both ways: there are just as many negative responses to pro OTM comments just in the threads above!
I think objectivity is fine, but there seems to be a number of posters both Pro and Anti that just like to attack the other side….
I just came here to express my opinion, that's when the attacking starts – people start calling you out for what you think. I don't get what that's all about. The truth is, OTM.com isn't ready for a launch. Had they spent as much time on polishing the site as they did on a tele advert, it would have come across much better.
I have a problem with people hyping a product, making it sound like the next wheel, forcing people to ditch the competition and then turning out a half-baked product. I don't like it, and I think it should be pointed out, so I did.
And thats fine Jonathan but equally when you state your opinion, others have the right to disagree with you and simply because they see something different to you, does not make them wrong. SP has been on here a while and I would say I rarely agree with his opinions, but he doesn't draw fire often because what he states is just his opinion, and it isn't exaggerated to make his point, yours was. I think the site is fine for market, there was a deadline for launch and its been met. As an agent on it, I have had a few niggles which they have been sorting. But I think you missed the point, the hype wasn't about the site, it was never going to be launched to rival that of RM or Z, the hype was about the concept; the coming together of agents across the country to resist the agendas of two shareholder driven portals and to control the costs required to advertise property. It needed to work, it does and it needed to be seen, the latter will hopefully be achieved by the network of agents and the tv advert. So even on that point I would disagree with you: it needed to be good and money was rightly spent on it. Given all of the things I have said I would regard today as a success for the site. I am sure however you disagree.
I'm feeling happy today, onthemarket.com is launched and at last the duopoly can be stopped. And also the other great con the monopoly EU, good on you Greece hope others will follow you (Spain, Italy). Both controls for the benefits of the few at the top. People power I say 🙂 Off topic a bit I know.
If, over the next 5 years OTM fails (I don't think it will but haven't got a crystal ball) then the major positive will be that we certainly DON'T NEED 2 PORTALS. I really hope that OTM is in a dominant position(with further support it will be), and we can all drop the plc's by then, but if not, I(like most others) will only be paying 1 portal, as we certainly haven't suffered from being off Zoopla for the last 4-5 months and I think however well otm fairs, those that have dropped one of the main ones will realise they didn't need them to be successful.
Put simply, I love the site! At last we have something here that can be built upon, is supported by a large number of agents across the UK (and more to come, I'm sure!) and I really feel that any negative comments towards it are either coming from Agents that are yet to be converted or the online peeps. Personally I appreciate their comments too, but perhaps it's not worth shouting to loudly about how you hate it until it's had the opportunity to really get up and running – then your points would be valid…. Also, I think one of the very best things to come out of this is how agents have worked so closely together for once. We may be in competition on a local level, but when it comes to creating a truly great portal for buyer and tenants to search for property we actually got together and made it happen! We're not a bad bunch after all! 😉
Mr. Rowe, self promotion much?
@Jonathan Radford I really am not going to get into that debate with you, I just thought it was worth posting a positive comment. Try it on someone else on here please.
Of course it's worth it when you're in it. Self-promotion remains self-promotion.
Having looked at OTM this morning and taken one last look at Zoopla, I really can't fathom why anyone would question the sense of moving. Zoopla really is awful.
No tacky advertisements, No stupid online valuations (which have cost me a fews sales, with purchasers tell us how much the property is worth according to Zoopla, just they few sales lost that we know about will pay for onthemarket.com for two years free)
and you are saying that based on…OTMs color scheme? Because I don't see any features or content that makes Zoopla awful in comparison.
Based on everything OverHalfWay said plus the aesthetics.
Z is very cluttered and has a lot of additional features people just don't care about.
A fair assessment from Smile please, although the mobile website is working on some phones it didn't work on mine until about an hour ago. I also agree with Wardy about agents only being listed who are based in that area, something that should be sorted out fairly soon i'd imagine, other then that it's in the whole a good start. Regarding listings still being on Zoopla and some areas not having as many listings, it should be pointed out that Zoopla are still listings some agents properties even though notice has been issued. Apparently Knight Frank, Savills and Strutt & Parker's properties are still showing (even after notice being issued), also some agents in my area are still listed after they have issued notice although i've just noted some coming off in the last hour, perhaps after further complaints to Zoopla. The tv campaign and SEO starting on the 1st Feb is for good reason as nearly all agents should be on only their one other portal by then and any glitches ironed out.
I would not be surprised if Z kept listings until 31/1/15 (may even be in the small print) not the fault of the agents. It cant be reasonably thought that everybody is right from day one ……… How is Houser 😉
I think a real effect will be noted by 1st Feb when all those signed up are listed on OTM & off of RM & Z, then the TV campaign to the consumer!
Daft question here – are Knight Frank, Savills and Strutt & Parker major backers for AM? If so,they aren't going to strike themselves off, are they?
I may as well throw my opinion in for what is worth as most seem to. I like the site, clean fresh easy to use, does what it says on the tin with no fluff getting in the way. Seems to coping with the traffic well this morning and i like the advert. On the flip side big disappoint for launch no mobile version this should have been done. Also a lot less agents in my area then i was led to believe probably 1/3 of agents on it (still a good number) maybe others are yet to join? I also would not be happy with agents from other towns advertised as a "Local agent just because they have 1 property in my area (If i was advertising i would add a property to all surrounding areas). All in all pretty much what i expected lets see now see the frequency of the adverts and how the public take to it
Mobile site is working well on my phone Smile!
works on mobile (some) but not optermised – poor scoring with search engines meaning less organic growth, sure they will sort it but should really have been done from day one
A fair representation there, SP – I doubt if many will try to argue those points.
I too was somewhat surprised there are some quite big "gaps" in coverage which is a shame. Some areas seem to have embraced it others, 5 miles down the road, not so. This will need to be addressed and I hope will. All in all though RM and Z have had years to work on their site, but I would say that OTM has walked onto the stage without tripping over so I will enjoy seeing how the first act is.
Do you think they will give away "Free" trials or heavily reduced membership like Zoopla did when starting out? not sure gold members or even silver and bronze would like that. Question is how do they fill the gaps?
I think they may find that difficult SP. One of the cornerstones has to be transparent fee structures so I suspect existing members would have an issue with deals to fill gaps. If I were an AM rep I would be concentrating on promoting the fact that in many areas Savills and KF does raise the "profile of the property selection so that may help. Short of that I would imagine that when agents start seeing some of the advertising come February that will bring a few more, like your good self, on board!
OTM Agents in certain areas will be in deep trouble if there isn't some form of free trial or severe discounting to get numbers up. It's pointless and detrimental if the numbers don't add up. Buyers will continue to use the big 2 and will be able to get 100% that way. Who would bother to trawl for 1 to 10%
We are talking about Day 1 of a site launch though B6RKY!
The site does look smart, however in our area it currently has less than 10% of our competitor agents on it and less than 10% of the stock of Rightmove in the same geographical area.
On the defence, Rivero, in my wee patch of the country the site has 58.2% of the RM total and 137.9% of Z's – yes – almost FORTY PERCENT MORE than the No#2 portal (mind you – the story at 9am was a little different… ;o) ) !
I must say the site looks awesome is responsive and mobile friendly. However the homepage could to with a broader input field for searching locations. The results page looks very nice but te pagination at the bottom is quite small as well. As far as for the property detail page, I would have placed the property slideshow first to make it more user friendly, since photos are what its all about.
I wonder if in the future they are going to have a overseas property section?…
Why does the 'find an agent' section bring up firms that, are in some cases based 125 miles away from my town? Is this a glitch or am I expected to go up against agents from different counties as well as local firms?
Yup – it's 'Glitch Central' today, wardy… but they know it!
I hope so because I was very nearly toppled off of the fence I'm sitting on!
I thought by your previous posts you'd joined 'The Collective', wardy – how did I get that wrong?
I was to start off with, then I sat back and watched the debate unfold.
The site is here. It's clean, fresh , un cluttered and offers EXCLUSIVE property to buyers, not found on RM and Z. I would have thought that now OTM has delivered this (many argued it was not possible or wouldn't happen) that professional agents will now join those who are already there to move this portal from strength to strength.
For every "exclusive"property on OTM I imagine there will be 20 "exclusive" properties on Rightmove or Zoopla. The difference is that the owner of the "exclusive " OTM property won't get any leads ……
"The difference is that the owner of the "exclusive " OTM property won't get any leads"…..Sorry, I don't understand this response. How do you know they won't get any leads? Also after 48 hours they will be on Rightmove or Z so surely, from what you imply, they will get loads of leads from there? Either way, in you're view , sellers don't lose out …right?
I agree there is a lot of work to be done when launching a portal such as this but I fail to see where the millions of pounds of investment have gone?
I would be very dissapointed if I had signed up but as with all these things it is day 1, lets see where they are in day 364. One thing I do know, RM & Z should be worried by this.
Regarding the advert for TV – It has a tinge of Zoopla about it where the logo drops onto the rooftops…
Good luck to them and those that have joined.
Having spent 20 minutes on the new site, it's clear that it's half baked in terms of user experience. Notably;
1. Registration does not send a welcome email
2. Properties sent by email 'to a friend' are poorly formatted and look awful
3. Mobile App section is 'coming soon' – seriously? No actual mobile app?
4. When site is viewed on a mobile device, it's poorly constructed and the 'responsive' experience is sluggish and error prone
5. Very little care gone in to the 'Full Details' page of each property – it looks very weak compared to the structured layout of the major portals.
6. The design language of the site is confusing in parts – red used to indicate a button but also a information message etc. Conflicting blue on hyperlinks and 'recently added' flashes etc. The list goes on.
Two challenges I see here:
1. Content – with 25% of the market currently, the consumer loses and will quickly bounce the site and search elsewhere
2. User Experience – if it's even a click harder than the market leader (Rightmove) then people will become frustrated and see it as a chore rather than an enjoyable experience.
Early days – but this is not a site with beautiful user experience as its key differentiator; and I thought that was it's killer opportunity. (oh – and content)
Thank God someone has the sense to see things without a biased 'I paid for membership' lens. The site is not ready for launch, it is poorly executed, even if we ignore the design issues, the functionality is far from actually useful or reliable. They had a year to work on this, I think they wasted time and money on marketing, their product is certainly not up to it.
So what's your unbiased position JR 😉 At least the guys at OTM and can take notes from the constructive criticism on here and use it to create an even better site. Interesting a lot of the media (paper) negativity comes from those with a vested interested. Good old unbiased journalism coming to the fore once more. Bearing in mind the media interest that this site has generated prior to launch, the cr@p website and only being a day old, I understand why so many people are keen to knock what has been achieved, if I was an online or RM, I would be thinking, what happens when these boys sort out any issues and really crank it up, Chri$t, they haven't even put an advert out yet!!!!!!!
For the record, I am not from the media. I'm not an estate agent. I don't work for a portal. I'm just a guy looking to buy a house.
Paul agree with what you say in principle but you cant talk about unbiased journalism on "Eye" as much as i enjoy the site and they do a lot of good work they are massively biased towards their advertisers same as the DPG
and OTM is one of their advertisers.
I'm not saying the eye is unbiased though am I? 😉
Judging by this mornings comments the last few months have just been a warm up to the real slanging match!
I do feel there needs to be some recognition of the feat of getting this site live. I don't think its always been slick, I suspect that there will be teething problems but it was an enormous task and in my opinion extremely well executed. I was particularly impressed with all of the details arriving on email over the last week leading to todays launch, it showed OTM were really on it. Finally I never thought I would see the day, but Hareee and I agree on something and that is the advert. Its superb.
You have got to be joking RealAgent. Recognition, what for?!!!! Creating a portal that has a serious chance of breaking the duopoly. Galvanising agents to work together (which is like herding cats!) Creating a slick and professional looking television advert. Generating more page views and media noise than anything that I can remember, BEFORE it even launches. Jonathan Radford's kids could have done all of this, so I would pipe down and think before you post your glowing remarks. By the way, I'm building a Nuclear Reactor on a man made Island in the middle of the Atlantic, if any of JR's kids are available, or indeed, anyone else on here thinks they have what it takes to run the job, let me know, interviews start next Tuesday!
They did all that with millions in their pockets. If all it takes is a television advert and hype marketing to get you fascinated, I have to say you've got a narrow hole you're looking through Paul. Yes, kids can make the equivalent of the site they launched, I stand by that, and anyone who knows tech and web development/design can testify to that.
As for your Nuclear reactor, my kids would love to work on it and they won't cost you an arm and a leg and probably do better than the developers and designers working at OTM.
PS: I didn't appreciate the personal attack, but I know how some agents are somewhat lacking in ethics.
Easy JR, no personal attacks here, I don't need to do that and I am a little disappointed that you would even bring that into it. If you want to come on here and put your opinion across and use your kids to form part of your argument, then I suggest you think about the possible repercussions. However if you think that is personal, you have missed the point by a mile and it says more about you and your views. Clearly I don't think your kids or even my own could achieve what has been achieved so far by OTM, but what I do suggest, is you get them to create you a sense of humour, mine could do that and the best thing about it is that its totally free!
If you read my original comments, no where did I say 'My kids' – I said kids, in a general sense – Millennials can achieve this I believe. I did not use my own kids to throw an example, you might want to read my original comments again.
Regardless, you are entitled to your opinion and so am I. Have a good day.
JR, I stand corrected. Apologies for that, I imagined a word that clearly didn't exist. Still nothing personal intended and my kids still couldn't roll out the OTM launch!
25%??? who is fooling who? Have a quick look at Merseyside. I don't think there is even a paltry 5% listed. In my towns less than 1% are listed and none of the agents are based in the towns! The search engine even lists agents from Manchester. This is hardly likely to induce more agents to join. This has been an ill conceived and arrogant strategy from conception led by greed. Sure we all want lower advertising outgoings but when I consider what I was paying to newspapers 15 years ago and what I am paying to R & Z now to advertise me 24/7 and with TV marketing thrown in I am much better off and so are my clients. Portal traffic is all about numbers and OTM should surely have had the sense to use their first year to build their stock before implementing their 'one other portal' rule. Do you remember when Z appeared? I think we got free listings for about 2 years before we actually paid as they used it as a loss leader to eventually build their stock. I have been waiting for this launch to see if there is a choice to be made and obviously/sadly there isn't.
I had a quick look this morning at Z and OTM for comparative purposes. Hove, where I live and where OTM has got traction, shows on a search for a 3 bed house, £350-425k, 18 results against 15 on Zoopla. This is an area where there is a lot of OTM stickers in windows. Same search for Egham/TW20 shows Z at 23 versus 3 on OTM. Their challenge will be to get consumers on the site, but I can only see any traction coming in areas where they have by hook or crook got a majority of agents over the line.
No mobile app is a huge miss with over 50% (about 55% I believe) of property searches starting on a mobile device…that is a huge hole in any digital strategy…seems a strange thing to miss. After all, if you want to change consumer behaviour getting inside their smart phone habits would seem the obvious place to start?
Majority of investment seems to have gone on inflated salaries for reps, and feeding Springetts grudge against Alex Chesterman, dating back to when Chesterman got the nod as CEO of the newly formed ZPG group…be interesting to see how it all plays out but thje upshot currently seems to be a slightly weakened Zoopla, a new entrant with zero awareness, but most of all (and counter to it's intentions) a hugely strengthened Right Move.
So after Springett told the Telegraph that he wouldn't be holding properties back as it's not in the owners interest…….it's being promoted in the tv ad? #crossedwires?
Chrispy – WHAT? OTM are not hiding properties back! They [The properties] would not be on the site if they were….. If agents chose NOT to list on ANOTHER site immediately that is THAT agents choice!….. ALL websites can have property held back….. rubbish argument….. come on.
So when does the 'one other portal' rule kick in then? Savills and Knight Frank are still on both RM and Zoopla this morning.
Just had my annual renewal notice from RM – together with this year's outrageous an unnecessary price increase. Now there is a viable alternative I shall be stripping out all the add-ons back to core membership.
Seriously disappointed by OTM. It is fast yes, but that's because it's virtually like a site from 1995. They could have done much better. Granted its not all about visuals, but even the UI is not friendly.
I can't believe people saying it looks professional – it does not. Those who think it looks professional haven't seen much on the web I reckon. When I first opened the site, I was expecting something epic, OTM is anything but epic for now.
Even if I ignore the visuals, the search functionality is broken. Most of their features are 'coming soon' and the ones which are there are far from perfect.
Just used the FIND AGENTS tab in a test area and the list is populated as follows;
'Estate agents with properties or an office in Sidcup'. Of the , count them, 10 agents listed a grand total of 1 has an office in the town in question. If I were the owner of that business I would be livid this morning!
Agreed. I am seriously disappointed, two kids with some money and time could have made this. Doesn't seem like they actually put much effort into their product, they just hyped it and burned money on marketing.
What's been burned? It hasn't started yet. Agents are doing the marketing for free?! The TV ad isn't airing until Feb 1st, so they have a week to iron out creases and get the bugs out. All part and parcel of launching things of this nature. I guess the day you opened your doors to the public, everything worked perfectly and you sold 20 houses straight off the bat (if indeed you are an agent?).
When I opened my doors on my first branch I had to recruit staff , sort phone lines, leases, equipment , etc etc etc . They've had a year Paul…and 30 developers…. To build a website …..
Oh look it's Danny & Phoenix the Zoopla rep and the corporate agent…I never would have guessed that you'd give negative feedback!
Danny, they didn't spend the year coming up with a portal to suit you or JR with your biased slant. And every launch has glitches, Rightmove, Zoopla, yours and mine, so apart from the (expected) glitches they have launched a site (ON TIME & AS PROMISED) and will continue to evolve it. My point again, is show me a site that hasn't had glitches on launch day, regardless of how long you have had to create it. In that year that you talk about, they have had to conquer a lot more than building a website. The fact they have got a website launched on time for you to criticize is a miracle in itself!
Lol Paul, just because you are a member doesn't mean you need to defend a poorly executed site. This is the digital age, trust me, kids can do better than this. Are you saying registration emails not going out, emails without proper html formatting and all are 'glitches'? Who did they hire to do this? The site isn't even all that extensive, they don't have all agents on it, where did the millions go? I really do want to know. Where was the money spent, because if you know anything about the web, you can't deny that this is disappointing to say the least.
JR. I'm not defending anything. I'm suggesting that people are quick to jump down throats when in reality, some of the issues are to be expected, so therefore those that do, do so from a position of bias. Could it be better, should it be better, yes it should be, but in the overall context of what has been achieved here, I think posting on here at 7.30am isn't really justified (expected yes). Will the site evolve into an even better experience, yes it will. As I have said on here before, I don't NEED OTM to succeed, I WANT it to. The problem with a lot of agents is that they NEED RM / ZOOPLA, because they believe they need it and don't have the skill or confidence in their own brand (themselves). There are agents up and down the country only listing on one portal or even none of them and they have been doing so for years. Do they earn a living, yes and they also don't have the fear of explain why they don't list on these sites, which in reality, rarely comes up in conversation on a valuation. Portals don't sell property, people do, but as long as agents believer otherwise the easier it is to take business off them.
From a buyers point of view not having a "search by time listed " 7 days, 3 days etc facility means I will have to trawl through all the old listings. That is the appeal of online portals they make the process of elimination easier. Fail.
Having to opt in by creating a property search… not going to happen enough.
Early bird listing ? from a vendors point of view ? why on earth are you NOT listing my property in the N0 1 place buyers are looking ? what possible advantage is that to me ?Any early offers I may receive will be put back until I have gone on RM. Fail.
Blue I agree to a point about the 'listing time' search facility – however the facility IS there to search for 'Most Recent', which kind of ticks the box… and of course you have to go into additional options on Z to get the search parameters you require as it isn't shown on the basic criteria. I ALSO agree with you on the 'early bird' malarkey – but as I've said that since it was first mooted many moons ago that will come as no surprise to anyone reading this. All in all – the site on #Day 1 does SOME of what it says on the tin.
Congratulations and good luck to OTM. No surprise that many agents in the central Somerset area have ignored the one other portal rule – well intended rule but as with any rule not worth a hoot if you are not enforcing it.
Call em, tell em! Simples….. They could not police this properly until the site went live! After all the 25th January there was NO OTM so NO other rule needed (8am is a bit early to write them off on this!)…….but as today goes on and tomorrow I agree….. Just get on the blower!……………..But remember I bet you Z are being a tad slower than usual in removing property………….. AM Z and RM cannot stop you making your stock invisible so perhaps any excuse its Z or RM suggest the agent logs on to their dash board and click invisible.
The OTM TV ad is, without doubt, the best portal TV ad by a mile. I have said many times to my RM and Z reps that their TV ads are far too 'clever' and will leave many scratching their heads as to what the ad is actually about. OTM's ad agency has come up with a great 'on the button' ad with a nice twist with the OnTheCoast, OnTheHill angle. The OTM site though is way behind RM and Z. If you advertise a great dining experience you have to deliver when people walk through the door …
Well done OTM! Delighted to see it on time, looking fresh and professional.. Onwards and upwards!
Congratulations all at team OTM/AM – outstanding achievement.
Whatever your views on the concept, the strategy has been superbly executed. Well done to all involved.
'Superbly executed'…have you been on the site this morning? Many properties not even showing and my phones been ringing since 7am from colleagues that took the plunge only to find the great proportion of their stock not displayed. They are relived that they still have both of the portals until the month end but can you imagine if you were one of the brave bunch who ditched both only to find so much of there stock nowhere to be seen? This doesn't even take into account the calls that will now have to be fielded from existing clients notified of the change and directed to the site today…Teething problems I'm sure.
Did you not get the test site last week giving you the opportunity to check all your listings?
I doubt it Calleb! Our teams have been on the test site as well as the live site testing away, trying to break it. They are in touch with the AM team and the idea is that we try to give as much feedback and assistance, so they can jump on everything ASAP. It's common for a new site to have glitches and bugs, particularly when the traffic gets busy. I think that its been a pretty good launch so far and these odd issues don't cause me concern. I find it amazing that people would make comments like this, as I would be more shocked if there were no issues. The site could be down all day, it isn't going to stop me selling or letting houses, but therein lies the problem my friends, too many of our breed have been brainwashed into thinking Portals sell houses and have lost their confidence. Come on, you are better than that………
Calleb and Paul…I wouldn't worry too much about Phoenix, his full of it. Spent the best part of last year saying how he wants to join OTM then slowly but surely gives negative comments stating how the "public awareness campaign to the consumer has been non existant" Like their should be a public awareness campaign 6 months prior to launch. It then turns out his a corporate agent. Best of luck Phoenix your going to need it!
“But then it is not a good idea to blast property everywhere when it comes on the market.”
really? By blast it anywhere, does he mean the two most popular portals? Thats hardly a scattergun approach to selling, and i'd say its a lot better than to restrict it for two days to a site that has only 25% of the market!
Somebodys had a bad weekend! City or Chelsea?
Palace – so a great weekend thanks! Still no closer to explaining the logic of that ridiculous quote though. Take the emotion out of OTM, and put yourself in a vendors shoes – there is absolutely no benefit to holding out properties for 48 hours for OTM to show it's limited customer base.
And actually, with the 1 portal rule, "blast property everywhere" just refers to RM or Zoopla.
I'd be worried if i'd signed up to OTM and this clown was in charge of spending a £15m budget!
Im Leeds so ridiculous quotes are the norm . Dont worry so much, OTM is finally here so just let it ride and see what happens!
Well… we are here! Congratulations to all involved! Now we move forward & continue to grow! Looking forward to 26/01/2016 to see how the Property Portal Landscape looks after 1 Year of OnTheMarket.com!
Hmm I wonder if OTM will even have 25% of the market come January 2016?!
And so the negative speculations start…zzzzzzzzzzzzzzzzzzz
No you are right, closer to 100% I suspect….