A prominent regional estate agency chain, Goadsby, which has 25 offices across Dorset, Hampshire and Wiltshire, has joined OnTheMarket.
The news comes as OTM has had to deal with the PR fall-out from last week’s open letter to estate agents from the Competition and Markets Authority. While the letter specifically said that it currently has no issues with OTM itself, publication has led to considerable speculation over OTM’s ‘one other portal’ rule.
However, Goadsby is apparently unworried.
The firm, which was established in 1958, will continue to advertise its properties on Rightmove as its ‘other portal’.
It has not had to drop Zoopla, as it had not previously used Zoopla for its residential stock, although it does use the portal for its commercial properties.
David Errington, group chief executive of Goadsby, said: “We are keen to support OTM, the UK’s only agent-owned, agent-controlled portal.
“OTM is an excellent portal which enables agents to present themselves and their instructed properties in the best possible way with no distracting non-property advertising or unhelpful information added. This is just one of the reasons we have chosen to join.”
Ian Springett, OTM chief executive, said: “We are extremely pleased to be welcoming a firm of the size and quality of Goadsby.
“This latest multi-branch firm to join us is another terrific example of how our momentum is building.”
Large multi-branch firms which have joined OTM since the beginning of the year include Nottingham Estate Agency and Harrison Murray which have a total of 37 branches; eight-branch firm Arnolds Keys which has offices in Norwich, Norfolk and north Suffolk; Watsons, a six-branch firm with offices in Norfolk; and Jeffries, a seven-branch firm in south-east Hampshire.
OTM announced earlier this year that the level of overall support had risen beyond 6,500 estate and letting agent offices across the UK, which was an increase of more than 50% since this time last year.
The figure consists of contracted members and agents who have signed a Letter of Intent to join OTM when total support reaches 7,500 offices – OTM’s next major milestone.
Comments (75)
Or this link: http://ec.europa.eu/competition/antitrust/procedures_101_en.html
OPEN LETTER TO MR TREVOR MEALHAM AND VARIOUS ASSOCIATES
I need a little help on this one, please – and I would be most grateful for any light you can shed upon a rather strange and interesting situation I have discovered with a wee bit of investigative trawling.
Mr Suthakaran is reported to have written his undated ‘open letter’ to Mr Springett following receipt of yet another ‘open letter’ from CML which was dated Thursday 21 April 2016.
In his ‘open letter’, he refers to both the above-mentioned CMA correspondence, also to a letter received from Mr Springett also dated 21 April 2016.
It must therefore be deduced that his own correspondence must have been dated no earlier than 21 April – as I do not recognise him from any episodes of Doctor Who – past, present or future.
The main thrust of his ‘open letter’ is that his business allegedly suffered “fall in revenue due to pulling off other main portals”,
He also allegedly lost staff – the stated reason for which is that “AM and OTM have failed for us”.
Blimey – all that in only fifteen months!
Or less, if they were not aboard on 26/1/15.
But… whilst Mr Mealham has provided some extremely helpful information in his posts above – here’s where I need the assistance in getting my thick Geordie head around all this.
1. How come there are listings on Zoopla – the portal that Mr Suthakaran ‘pulled off’ when he voluntarily joined AM/OTM and abide by their written Terms and Conditions of Membership – which date back to 16 November 2015?
2. How come the writing on the bog door of the pub down the road states that Mr Suthakaran’s Agency listings were removed from OTM in December 2015 – yet his “resignation” apparently took FOUR MONTHS to materialise citing that day’s news as the reason?
3. How come Mr Suthakaran’s ‘open letter’ requested that all of his Agency’s listings be removed immediately from OTM when he was without a shadow of doubt already aware that they had been de-listed four months previously?
4. How come businesspeople like yourselves can realistically think that people are stupid enough to swallow and digest complete, unadulterated ******** without so much as a single question as to the validity or truth of what is being served up before them?
and
5. How do you now reasonably expect to have any chance whatsoever of the obvious collusion (yes, CMA – you read correctly – COLLUSION) to cause damage to Agents Mutual, OntheMarket.com and their Membership being in any way, shape or form successful, when the string you are flying your kite on has wound itself round a windmill and you are being dragged kicking and screaming towards the blades?
I thank you in advance for your ‘open letter’ of response.
I, for one, can’t wait for it.
Yours sincerely
PeeBee
Open letters only really work when people send them under real names Peebee. Not pseudonyms.
Posts on EAT and PIE are bringing more to light as to anticompetitive alliances re AM/OTM.
The definitive answer will be from the CMA. But at this stage facts include two main collusions: AM (company 1) OTM (company 2) colluding to create entry rules that factually place bans on other lawful traders. ie AM have the one other portal rule that has placed embargoes on RM/Z/INEA and other digital platforms. AM also prohibit ‘online only’ agents from entry into OTM. You then have competitor agents joining forces to create AM to feed into OTM and supporting / upholding factual bans on others which is anti-competitive.
Have a read here: http://ec.europa.eu/competition/cartels/overview/index_en.html
Oh – here he goes again about ‘pseudonymes’!
You clearly do not wish to answer the questions I have posted, Mr Mealham – neither do your ‘Associates’.
That’s okay – I guess we all know the answers anyway and of course none of you want to dig the pit you have created for yourselves one nanometre deeper than it already is.
I, for one, can’t blame you in the slightest for keeping schtumm. You’ve already taken the rope and hung yourselves good and proper.
You just don’t know where, when – or how…
Meanwhile no-one has come up with an answer to your open letter PB, strange that!
Things getting interesting. must be cause peebee and twaddletop, no woodennob have shut up for a while. great news for all
Sorry, pal – far too early to pat yourself on the back – or anywhere else for that matter.
WAAAAY bigger and better than you have tried to wazz me off in past – and failed miserably.
Lightweight grippers like you ain’t got a cat’s chance.
for sure P. your the King wazzer. Im sure your whole kingdom things your the biggest wazzer going.
I think that EYE by now should have worked out that Woodentops18 is a troll who’s sole intent is to be disruptive and brining nothing to the table that has any value and I see has now taken to being abusive.
If anything bringing EYE down into the gutter if they allow this sort of conduct to continue which will turn readers off as it did on EAT. It should be an easy matter for them to take control of the situation and even be able to identify the culprit.
I’m sure no-one has fallen for their silly games but just WASTING EVERYONES TIME. If they think they are getting under my skin, a feeble attempt and not a hope of ever happening.
Thats rich Woodentop. There was already 1 on here who took the P and you the W. There might as well be 2 Ws on here. as for value im bringing you insults like you and P do all the time. as for your winge then it looks like im getting under your skin W.
PIE is a really good forum. Guys like you and P are too often rude to others. Nasty at times.
Guys like you and P are too often rude to others. Nasty at times.
Awww – we upsetting your ickle fwends by saying some home twoofs, then?
Diddums.
Not at a ‘mutual’ price though I think it’s fair to say.
What do we think… 6 months free then £10 per office per month?
Goadsby have nothing to loose, so for the subscription we know they would of got, I’m sure it was a no brainier.
As for the 6,500, pull the other one…
Why do you care how other people spend their money? If 30+% of the industry have decided that the service receive for the subscription they pay to the incumbent service suppliers is so bad they have to build their own service isn’t that a really sad indictment of the existing service suppliers level of service?
…pull the other one…
Why ask for a hand – looks to me like you’re doing a sterling job of pulling it on your own.
I’m sure everyone will see that the above posts by woodentop18 is not me and considering the newbie appeared on the scene all of a sudden, one has to ask is the name just a coincidence ….. more chance of winning the lottery.
No woodentop is my sister from another mister
That must be “he with no qualifications” then.
Is there a twin in the Woodentop camp Woodentop.
Any luck they may go on holiday to a car forum or even caravan (ie homes on wheels). ….. Sorry
T
I bet that nearly killed you there Trev, typing ‘car’ without whopping a ‘tel’ on the end.
Nice one Disillusioned 🙂
Please please please, will everyone not lose sight of what another portal in the market is trying to do. CMA promotes competition and this is what we have the chance to do. The following extract is from the Yahoo business/investment section which shows how the city and the market view Rightmove. They are shocked that this is one of the few listed businesses that generates a 75%+ return on capital! That’s your money allowing them to do it. Look what their prediction is for future subscription/revenues. Lets have some joined up thinking, and remember that the detractors are well funded and when you divide you conquer!
Rightmove, the country’s largest portal for property listings, may have been started by the largest estate agents, but together with chief competitor Zoopla, it has largely replaced these very estate agents as most customers’ first stop when looking to buy or sell property. Rightmove’s business model of offering its services free to the public by charging estate agents to list their properties has proved effective enough that estate agents banded together in 2015 to launch their own competitor, OnTheMarket.com.
One look at Rightmove’s staggering 75.1% operating margins and 19.7k strong customer base will tell you why Savills, Knight & Frank and others felt forced to do this. However, Rightmove’s first mover advantage and 77% market share have left OnTheMarket in its dust. Rightmove posted a 2% increase in customers, 15% increase in revenue and full 17% bump in earnings per share in the past year despite this new challenger.
With significant market share, insanely high margins and little chance of being dislodged, Rightmove will continue to be a persistent thorn in the side of traditional estate agents. Although shares trade at a princely 31 times forward earnings, the company is forecast to continue growing earnings by double digits for the next few years and has committed to returning all free cash flow to shareholders through dividends and buybacks.
The CMA does promote good fair play competition. It doesn’t promote restraints and anti-competitive behaviour. As such AM/OTM creating cartel like rules to ban ‘online only agents’ and other portals and other digital platforms is WRONG
Using the same schema as RM and Z can only create a third ZoopiMove. Add some unfair hard restraints and what’s created is ‘same old same’ with more restraints.
Government via BIS (Business Innovations and Skills) have said several times they want more internet models. As such for a new portal to have part of its growth plan to ban what Government is pushing for seems like a flawed biz plan.
It was part of the 2012 red tape challenge as above. If government set or give indication of outlines, its prudent to try and work with, rather than against. Working against gets noticed and if wrong, people like CMA/ Trading Standards step in.
The CMA… doesn’t promote restraints and anti-competitive behaviour.
B0110cks. Complete, unadulterated MDT.
That being the supposed case – talk me through why Sole Agency and Sole Selling Rights Agreements are permitted then, for starters…
Really Peebee?????? Seriously. ……………………..
‘Sole Selling Rights’ allow agents to secure a listing (in line with distant selling rights) and block out other agent operatives.
Sole agency is a much weaker contract, where other agents can come in and allow a vendor to enter extended multiple agency marketing or entertain a joint agent coming in.
All are various vehicles to allow agents workability to do their job.
Question?? How long is the average mobile phone contract – 18-24-36 months. All accepted if fair by Trading Standards. Equally unfair contracts that restrain others unfairly eventually gain attention by the powers that be such as NTSEAT, TS, CMA, Treasury, BIS, HMRC.
Rules are rules. fair contracts are fine. Unfair competition is a no go, and if it happens – be it on the heads of those who go against UK law.
I know many agents who use a variation being a hybrid ‘main’ higher fee ‘sole selling rights’ contract. Sole agency can be a weak stance should a dispute go to court.
Peebee: have a look here:
http://pstatic.powys.gov.uk/fileadmin/Docs/Estate_Agency/NTSEAT_guidance_on_property_sales_-_Sept_2015_en.pdf
Its the NTSEAT guidance as of Sept last year: ‘Sole Selling Rights‘
page 18 – terms of business (for example whether sole agency or with sole selling rights – and when your fees become payable under these arrangements)
page 21 – examples of, sole agency, sole selling rights, length of contract, any tie-in period) before they become contractually bound etc etc. …….. when marketing a property/taking instruction
page 32 – Your terms and conditions should be clearly set out. …….etc etc………… and ou must also make sure that clients understand the implications of sole selling and sole agency rights
I hope the above helps.
But no doubt your find error 🙂
Trevor
pdaddy do you mean otm are trying to create an anti-competetive place. its worse than the old gents clubs that banned the wrong types in to preserve their own buddies club. all otm are doing is helping rightmove increase their shares and profits
No Woodentop 18. Just over a year ago there was Zoopla and Rightmove, now there is a 3rd OTM. Don’t forget how Zoopla was constructed; are we going to ask CMA to investigate the situation that was created by Zoopla buying Primelocation, Thinkproperty, Propertyfinder, Hotproperty, Globrix, Upmystreet, houseprices etc etc…or has everyone forgotten that?! lot of online competition removed there.
Kill OTM and all your costs will go up unchecked, even though they are reselling you your data, which is creating their traffic! 75% margin everyone…..bet your roce isn’t as good. Competiton is good and the CMA was a warning shot, not an action. Tomorrow we have the Rightmove rep turning up to try and justify a 100% increase and when asked to negotiate, there was a flat refusal. Now does that happen in a fair market? Don’t forget how Rightmove started, and millions were made from the sale at ipo.
Got ya p.daddy. So OTM is likely to be bought out by zoopla or rightmove as the duoploy see it as a way to help rightmove get its fees up or zoopla to have another revenue.
Didnt mr spring sell out his last portal that he got agents to support. I agree history could repeat it self in many ways p.daddy. but yous the daddy p. Any relation to peeeebee or peepee as I and uncle fest (woodentop) call him.
common sense prevails…
if everyone stopped ******** and giving up too easily, we can build a really strong alternative to the others. OTM hasn’t got the marketing right and still too many of my clients in Surrey haven’t heard of it but the alternate is RM etc deciding to take private listings once they are ready and then we all slowly go under. its like turkeys voting for Christmas with some agents out there. very small minded……………..
well said, surreyagent
Hmmm, forgive me if I’m being thick but all of these groups above weren’t with Zoopla ? They didn’t support agents mutual from the start but after a year have now gone well this is the thing to do . Is anyone actually going to come out and ask Ian what £50 a branch brings to OTM when replacing those who have left at £500 ? Is he just ensuring his wages are covered longer term?
Source of figures Danny?
Erm… Property industry eye last week , published £50 contracts . Unless your telling me that his 20 branch . Unless you telling me that this 20 branch business saw that and thought get the rep in I’m feeling generous , I want to pay full whack . They have in effect replaced 2 leavers and divided the small amount that they already had …
Seeing as you seem in a ‘figures’ mood this morning, danny – be a love and tot up how many LISTINGS that have been added to onthemarket.com as a result of Goadsby joining OTM, please?
Thanks in advance – I, for one, can’t wait for the numbers.
;o)
He will get it wrong because he has already knocked 5 offices off !
Yeah… funny, that.
added a load of listings to a service producing very few results in a local market place where competitors are paying 10 the price for the same service although they hold a contract saying specifically that would happen …. Recipe for success 101… I personally can’t see anything going wrong with that
Sorry, danny – but a load of listings doesn’t answer my question.
Define “a load of” – in nice, fact, juicy round numbers, please…
You got those figures yet, danny?
The suspense is killing me.
I hope the irony of asking me for accurate numbers isn’t lost on you PeeBee…
From where I sit there is no irony whatsoever – unless you can show me inaccurate figures that I have previously produced, danny…
Make that 6
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perhaps the reason this agent has lost staff and seen its business decline is that it advertises 0% sales commission and has nothing to do with listing OTM.
Can’t you count then PeeBee
Oh – I have no problem at all with figures, thank you.
Nor do I have difficulty in seeing past smoke and mirrors.
You, on the other hand, seem to have your own issues that you really need help dealing with.
Good luck with those.
” be a luv” – batting for the other side there peebee. sounds like you and little sis woodentop wont have a future. never mind
You are of course right danny they may have lost two agent but gain 20 and only have the same net income but OTM is not about income is it!
They have probably just gained 40 properties per branch = 800 new properties. 800 properties Z do not have.
Just one more reason for the public to look at OTM not Z.
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Good point Smile. But agents should also look at why agents who tried it are coming out to leave it.
I see woodentop has joined the ranks such as myself with a namesake!
Have you read the letter?
The woman comes across totally barking! – Blaming OTM for loss of staff, worried she will be hit with a fine that will never happen!
I read the letter down the other pub this morning and wondered why on earth they would publish such utter twaddle. Then I remembered who pays their wages and it all came clear.
Its a nonsense story.
What does make me laugh is every time there is a snippet of anti OTM news we get lots of new posters, strange that!
I can see all the portal reps, online agents all with 3 or 4 different log ons, thinking they are clever trying to make it look like its a story when its anything but.
Also helps them that every time the log out and log on with a new I.D. they can dislike comments and like their own.
Are onthemarket paying you then agency insider
Ah. Thank you woodentops18. By that response you expose yourself completely. I’ll let others decide if they can see straight through you as well.
By the way, coming on here with a deliberately similar name to a longstanding and respected poster and then spraying your rather smelly calling card all over the place is utterly puerile. You have lost any credibility on Day One. Well done.
Sorry, AgencyInsider – you’ve confused me.
What credibility did this plant ever have to lose?
@Smile and Agency Insider: I know the ‘agent down the other pub’ guys. He’s a decent agent with a couple of offices. I know his staff was groaning about losing trade not long after going on OTM. I guess losing staff was his final straw.
When he compared his two offices in different outlets AM/OTM was well underperforming.
In fairness, an open letter makes sense in his situation.
Trevor, if they are a half sensible agent they would have kept RM.
To blame loss of staff for being on OTM is quite frankly stupid. Issues in the agency must run much deeper for staff to leave rather than what portal they are on.
@ smile please
He compared the fall in revenue with others and felt let down that OTM didnt peak above Z as promised.
Thus as OTM failed, he wanted the right to go back on Z.
I know he lost good staff. And at some point he obviously felt with rent and staff wages and consumers to service, enough was enough.
He’s now back on with RM and Z and INEA. In fact he’s just done a joint sub agent sale with another of our members and helped achieve £265k on a property where one neighbouring sold for just £225k 2 months prior.
AM/OTM wrote trying to ban him from INEA, which has just helped him make more revenue B2B
“He compared the fall in revenue with others…”
So… what you are saying here openly is that he has COLLUDED with others to make this decision.
And it must be reasonably deduced that, as you are so au fait with the circumstances, you must also have been involved in this collusion.
Anyone know the number for the CMA?
‘An open letter makes sense in his situation’?
No, it doesn’t. Since when was business conducted by Open Letter? It’s become a cheap tool used by those who freely entered into contracts with unrealistic expectations. The stupidity of the people is evident. They expected OTM to overhaul Z in one year?!
These people are nothing more short-termist fools who acted in haste and haven’t got the courage to stick to what they agreed to. I imagine OTM will be glad to be shot of them.
it does make sense smile when spingett said they would be above zoopy after 12 months. now who looks stupid
No 5h!t, Sherlock comment of the day:
I know the ‘agent down the other pub’
Who would have guessed that in a million years…
I read it and concluded someone had convinced her instead of a general letter sent to everyone the CMA would probably be coming after her, starting with her to deal with her very cartelous behaviour.
She’s a ‘he’ Robert. Ns is definitely a Mr and not a Mrs
Apologies Trevor, once again their financials show how they had burnt their way through quite a lot of cash in 2014 before OTM went live
Actually, smile please – it’s a whole lot better than that.
I never expected danny to volunteer the info for a nanosecond – so here it is:
Sum total of Sales listings – 1977
Sum total of Lettings listings – 613
There’s a nice 2590 into the OTM pot.
danny & co – don’t collectively choke on that figure, please…
So PeeBee,
That would mean if you were looking to buy or rent in Dorset, Hampshire or Wiltshire OTM would have at least 2590 properties for sale or rent that Z did not have?
Well i know if i was a serious buyer or renter i would be looking at OTM inline with other portals in that area.
IF i was another independent agent in that neck of the woods i think i would be calling OTM to sign up to jump on the additional advertising this would bring me 😉
While walking in the moccasins of buyers and tenants I would have to agree with you, smile please. It makes perfect sense.
And as far as looking through the eyes of an Agent – the streetscene being that most of my colleagues in industry are sick to the back teeth of not only the charges of the portals but also their antics – then once again I’d be nodding profusely!
and very few people looking to buy and rent will know the homes are in the pot. POTTY
Think we have just found this months nutcase.
You can join the ranks of
Easychris
Sarah Parker
Smile please 2
Dave
And an honorary mention to Trevor Mealham as he is fast losing any credibility he once had.
reserve me a seat smile please. we can both sit in the nut corner and dribble at woodentop my sis and uncle peepee who may dribble in a different way to the rest of us nuts. never mind one happy family. why is it peebee suddenly reminds me of uncle fester adams in a nut job jacket.
Someone better open the oven door and take him out…
…he’s overcooked to perfection.
I think this drivel say allot as to the motive of this new (I don’t think so) person appearing on the seen. Very childish and any creditability went out the window as soon as they started. TROLL comes to mind, certainly intent to be a nasty piece of work.
Just like the tides… the seasons… and diarrhoea, Woodentop – they come… and they will just as quickly go.
This lot just need a harder flush.
Makes a change to the last few OTM articles.
Not so sure, another agent has quit OnTheMarket in fear of breaking competition law
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