The first The launch of On The Market in January 2015 caused quite a stir amongst the estate agency world, but little has been heard of it since, maybe because many independents, like us, saw through the spin and realised that signing up with the new kid on the block would actually mean taking our properties off half the market place.
When it comes to marketing a client’s property, be that a new build development or an individual’s home, there is one key principle involved: act in the client’s best interest by getting their property in front of as many potential buyers as possible in order to drive demand and maximise the sales price. Sounds obvious, right? Not so for the large multinational agencies who clubbed together to launch On The Market, who stipulate that anyone listing with them must choose between the two largest property portals, Rightmove and Zoopla, and list their homes they have for sale on just one of them.
To me it is all about traffic levels and the fact is that at the end of April, On The Market was getting two million users per month looking for homes, compared to the 90 and 45 million of Rightmove and Zoopla respectively.
Therefore in our eyes the decision is simple: We want our clients’ properties to reach 135 million visitors on both leading portals, not a lesser percentage of that. I understand the need of the estate agency world to evolve and move forward in this digital era, but I don’t think restricting trade is the way to go about it.
So that’s why we embrace online competition and use it to better ourselves with innovation.