A number of agents have chosen to remove their listings from Rightmove, saying they were paying more to the portal than for rent.
OnTheMarket named three of the agents who were deserting Rightmove for this reason, saying that they have instead signed up to OTM on long-term contracts.
They are Albion Sales and Lettings in Northampton; Camerons, a lettings firm in Bournemouth; and Jungle Property, a lettings firm in Somerset.
Sally Knights, of Albion, said: “We have cancelled our Rightmove subscription. We were paying more in fees each month than our office rent so it’s high time there was an industry disruptor.”
Her firm has signed a three-year contract with OTM.
Aleina Cameron of Cameron has also signed up for three years.
She said: “I was a customer of Rightmove’s for over ten years but the price increase of 20%, which put the monthly fee up to £900, was too much so I cancelled.
“Annually, that’s more than I pay for my office rent.
“I refuse to be dictated to by Rightmove.”
Tom Morgan of Jungle Property has signed up to OTM for five years.
He said: “I’ve joined OnTheMarket on a five-year contract because it’s offering a fair proposition and has an excellent online presence.
“I’ve chosen to terminate my contract with Rightmove after nine years because of the successive price increases – many of which have been eye-watering and above inflation.
“We are even paying more to them than we are for our office rent.”
Altogether, OTM says that five agents have recently joined it after giving notice to Rightmove. The other two are Clintons Management in Ilford, Essex, and James Pyre & Son, a sales and lettings firm in Skipton.
Ian Springett, CEO of OTM, said: “We know that many agents are paying more to Rightmove in fees than they are for their office rent, and while they face ‘decision time’ as they try to reduce their costs, we believe the value provided by each portal will become even more important.”
He added: “In March, Rightmove’s latest annual results showed a decline in agent offices to 17,328 – a reduction of 2% since the beginning of 2018.
“Meanwhile, the results showed another year in which Rightmove generated increases in revenue, profits and profit margin by hiking its average revenue per advertiser by a further £83 to break through the £1,000 per month barrier for the first time.”