The number of estate and letting agent offices listing at OnTheMarket.com has grown 10% during the first half of the year, the portal reported yesterday evening.
At the beginning of January, more than 5,700 offices were listing on the website, and by the end of June the number had grown to over 6,300 branches.
OnTheMarket has also grown its traffic and in June the website achieved more than 8m visits (source: GA). This, said OTM, is an increase of nearly 100% compared with June 2015 when 4.4m visits were achieved.
Several multi-branch agents
OTM cited Nottingham Estate Agency and Harrison Murray which have a total of 37 branches; eight branch firm Arnolds
Ian Springett, OTM chief executive, said: “Throughout 2016 the number of leads we provide to agents has increased, our traffic has grown and the number of agents listing on the website has risen by more than 10%.
“Which other recent market entrant has achieved so much in such a short space of time?
“OnTheMarket continues to gain in strength as a major portal. Inconvenient as it may be for our detractors, we are here to stay.
“We continue to work towards creating the best portal for consumers and agents alike.”
OTM announced in May that it had the support of more than 7,000 estate and letting agent offices. This figure includes offices which are contracted and those which are covered by Letters of Intent to join Agents’ Mutual and to list at OTM when overall support exceeds 7,500 offices – its next milestone.
OTM is currently locked in a courtroom battle with agents including Connells.
On Tuesday, there was due to be a tribunal hearing relating to OTM’s ‘one other portal’ rule. However, there has been no information on this, despite our requests for updates.
If on the market send Ros a contract for any of the firms named above at more than £50 an office or free I’ll donate £1000 to agents giving , serious offer . Growing by giving your product away is not growing …
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Wow. Balls up. Like your style
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How much does it cost to be on Facebook?
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Facebook is one of the biggest brands in the world, was unique at the point of inception, innovates constantly, people use it in their billions, is an integral part of people’s lives and is in every possible sense the absolute anti-OTM.
Not sure where you’re heading with the Facebook analogy Robert.
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I wasn’t going anywhere with it, just countering the fact some business have grown by giving it away.
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Facebook is free.
The reason it is free is is to draw in all that valuable data.
RM charge agents a lot of money to draw in property enquiries. RM now appear to want to use that valuable data drawn in by agents properties that agents paid for on a no sale no charge basis to fuel an additional and very profitable additional data stream.
RM cannot be allowed to have it both ways as even Facebook acknowledge this.
RM started off as an advertising platform for agents they now appear to believe that they can do what they like with this agent paid for confidential data.
I feel sure that many agents would not mind this if RM offered a free marketing service but they don’t!
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‘Growing by giving your product away is not growing …’
Assume that by “giving away”, you’re referring to a £50 per month payment, danny.
That’s as much as £30,000 per month increase in revenue. Less costs – still in the black by a canny chunk, I reckon.
Tell me, danny – have you grown your turnover by that amount in the last six months?
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Do you think that the £50 contracts are making a profit? I’d imagine, after running costs (and it’s not cheap being sued) that £50 is but a drop in the Atlantic. I’d wager each and every one of those contracts make a big loss due to operational costs.
What an enormous failure.
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I never said anything about “making a profit”. That’s not what the site is about; not what it. It pays for itself – any surplus is to be reinvested.
But you wouldn’t know that – you’re apparently a Digital Expert… not an OTM Expert.
Have this one on me – and I’m no expert.
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There a difference between paying for itself and making a loss. Maybe you’re no kind of expert?
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‘Paying for itself’ – now that’s a completely different tin of eels.
Value is in the eye of the beholder.
‘Maybe you’re no kind of expert?’
Jeez – I thought I already spelled that one out for you in the post above.
Next time I’ll type r…e…a…l slow, shall I – give you a chance to keep up.
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Contracts are confidential, danny – you know that.
You might as well ask for a piece of moonrock – EYE has just as much chance of obtaining some.
Which of course brings up once again the thorny subject of Contracts – which, as well as being an agreement between parties are also designed to be binding… but we all know that certain Agents only stick to that rule when THEY stand to benefit from that binding design…
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Wasn’t one of these moon rock contracts published on here in full not two months ago? I open the invitation to any of the businesses named above to send them directly
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danny
You asked that OnTheMarket furnish a Contract to EYE. Not one of the businesses.
As I said – AM/OTM will not divulge confidential information.
You’re getting youerself in knots.
Time to let someone who gets paid more than you do have a go.
Maybe the higher earner will have some kind of chance of producing the result than you’re currently failing miserably to get within a light year of.
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Never heard of loss-leading Danny?
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Loss leading in a very expensive market with an internet start up with tight, finite budgets and extortionate start up costs usually result in folding and failure.
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A la Purplebricks, eMoov & Easy Property…………………….
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The difference here being they all supply something the public need and want and at least one of them has much more money behind it than OTM.
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Even RM was launched on loss leading – ie free for the first 2 years.
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20 years ago. There are bigger, bolder, richer, more established boys out there now. Apples & Oranges.
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‘Apples & Oranges’
Greengrocer Expert as well?
Jeez – the scope of your ‘expertise’ is without bounds…
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Oranges are the new Pears PeeBee. Do try to keep up.
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Yeah – I kinda thought that.
I’m more of a melons man, myself.
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Does anyone remember Comical Ali during the Iraq war because this was his script!
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“OnTheMarket continues to gain in strength as a major portal. Inconvenient as it may be for our detractors, we are here to stay”.
Inconvenient? They haven’t really inconvenienced anyone.
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Posted this on the RM story but probs more suitable for this thread:
Part of OTMs problem is it has no charismatic, tub-thumping figurehead.
Ian Springett is a nice enough bloke and a highly capable technician who is cool under fire but doesn’t fire up a crowd. He is probably a very good CEO but he isn’t a charismatic leader who can whip up a storm of interest.
They should let Springett get on with the backroom stuff and appoint someone to a new post of ‘Leader’. Someone who is generally trusted by the industry, who believes in the OTM vision, is all over the media, at all trade shows pressing the flesh; an all-round in-your-face-OTM-evangelist, who has the wit, charm, and passion to lead the industry into the Promised Land.
Until then OTM is going nowhere fast.
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Portal Industry Eye strikes again…
Just an observation here, as an ex- junior estate agent who came out of the industry some time ago, and is now a on the other side of the fence as a house-hunter.
My observation is directly linked to the main reason I got out of this business some time ago. That being, the dishonesty and lack of customer focus the industry has- the Portals issue just compounds it.
The main reason OTM hasn’t overtaken RM or Zoopla is that from a user point of view (the true user being a house hunter), its actually the worst by far.
Clunky, un-intuitive operation. Lack of properties (compared to RM and even Zoopla in my area) Lack of features. Often crashes on the internet, and the app that accompanies it is woeful. Even less features and support for the house-hunter.
Seriously, From a house-hunters point of view, Rightmove is the equivalent of watching a genuine Blu-ray on a 4K tv. Zoopla is a legally downloaded stream, high-definition. OTM is the equivalent of watching a shonky knock-off VCR, bought from the guy who has everything on a sheet at the local car boot just in-case the police rock up, and he has to leg it quickly.
Its clear the only reason it was set up is to benefit the agent (IE so they don’t spend more money than they have to), but I guarantee the agents with OTM and RM still get about 100% more leads from RM than they do from OTM, so what you’ve actually done is create a false economy- you’re throwing however-much a month at OTM in the blind hope it’ll work, when it never ever will, unless it focuses more on the people that actually use it, rather than the greedy agents behind it.
The biggest mistake was that while Agents were rubbing themselves with glee at the thought of saving a few quid by not giving it to a big corporation (note here; aren’t most of you part of one anyway?! Irony!), nobody was ploughing funds and research into finding out why RM was the top dog, and putting together a half decent portal to rival it; instead it was all based on what the agent wanted, and that is truly the wrong approach.
Hats off to Rightmove- the agent is the middleman in all of this, and they recognise that. They seem to continually improve the output and operational aspects of the site for the true customer- the house hunter- and if they make another £60 or £70 per office, lining their pockets in the process, well good on them. At least they’re honest about it, which OTM wasn’t.
Also, I’ve made enquiries through RM, Zoopla and OTM recently; only RM and Zoopla asked for my feedback on the experience of using the site- it seems OTM doesn’t even care that it’s rubbish.
this customer experience point is actually the main reason why Online agency hasn’t overtaken traditional high-street agents yet as well, because on the most part, its got a poor user experience. With the exception of one online agency, the experience I have had as a potential buyer has been awful and nowhere near the high-street agent service. In that one case though, it was better than some of the agents I’ve viewed properties through, so again, understanding the customer experience is absolutely key.
In a people business, most here seem to have forgotten the most important thing- the people buying, selling letting and renting houses, in turn paying your wages. Once the industry remembers that- and puts it front of mind – it might be a bit more successful. And once OTM’s owners get their head round that too, they may also find the market will make it the portal of choice, far quicker than the little arrows in everyone’s shop window that nobody outside the industry understands. 🙂
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I had all three portals open yesterday, side by side to soak up the experience and I wouldn’t disagree too much from your sentiment PSA32.
All I would add is that Z wins hands down in terms of consumer features and on paper it should be trouncing RM, but it just isn’t, it’s too busy, too purple and it feels like hard work. Whilst I would use it for its features, given the choice I prefer the look of OTM over Z. And I hate to say it, but RM is just a much nicer place to park your backside and spend time looking for property as a house hunter; it’s uncluttered and clean.
OTM take note!
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Yet again, no actual figures to back up success claims which actually make a difference to an agent – number of leads / average visits each month. There is a good reason Mr S does not, that is simply because the figures are far from impressive, along with there sales rep service.
Question, branch numbers…. unique or non-unque branches – http://www.onthemarket.com/agents/sa1-5nf/?agent-search-type=branches&view=list Mr S??? I smell a rat…
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https://www.onthemarket.com/agents/sa1-5nf/?agent-search-type=branches&view=list
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