OnTheMarket’s ‘New & exclusive’ feature is proving popular with a number of agents, with some claiming that it is helping to generate greater interest in properties.
Each ‘New & exclusive’ listing, which appear very prominently at the top of OTM’s search results pages, features three property images instead of just one.
Ed Hartshorne, who owns Blenkin & Co in York, described the ‘New & exclusive’ feature as the portal’s “trump card” adding that he was surprised more agents do not use it, as it allows agents to list their properties with OTM for a period of 24 hours or more before Rightmove or Zoopla.
He said: “Buyers are now becoming savvy to ‘New and exclusive’ and if you can give them 24, 48 or even 72 hours of that exclusivity, we have found that houses sell off the back of it.
“I think this is a huge reason to join OnTheMarket and it certainly works for me.”
Blenkin & Co has been a strong supporter of OnTheMarket since it launched in 2015 and lists only with two portals – OnTheMarket and Rightmove.
Speaking as part of a testimonial video, Hartshorne added: “We really think ‘New and exclusive’ is the USP for OnTheMarket, we absolutely love it and generally we try to do 72 hours.
“I’m surprised that more agents don’t do it.”
https://youtu.be/aK8Ri_NfydU
Terry Holmes, board director at Beresfords, a 17-branch firm in Essex, said his firm is also been pleased with the feature’s performance.
“We use the ‘New and exclusive’ function all the time and we promote it very heavily,” he said.
“I think it’s really valuable at the moment – in a market which is very active – for tenants and buyers to be able to access properties before others is really, really good and it’s what they need.”
Beresfords has also been a big supporter of OnTheMarket since 2015.
https://youtu.be/RyUySoJfL50
Clive Beattie, acting chief executive at OnTheMarket, said: “It’s hugely exciting to hear how the ‘New and exclusive’ feature of our portal is very beneficial to these estate agencies.
“Our data shows that properties promoted as ‘New and exclusive’ generate on average twice as many email leads in the first 24 hours compared with other newly added properties not promoted as ‘New & exclusive’.
“We believe the proposition holds a significant appeal to active property-seeking consumers, who are our priority target audience, as they in turn provide our customers with the highest quality leads. For vendors and landlords, early interest from the most serious consumers provides a great platform to achieve a successful and swift outcome.
“As we approach the end of the year, our focus remains on driving performance and delivering ever increasing value for our agent shareholders.”
Comments (13)
There are few things as constant – as the comments made by those on this forum. I especially like it when a commentator takes the time to assume a new moniker, often though their familiar commentary belies their identity. Take me for instance am I really Andrew Stanton or am I JonnyBanana42.5. What is certain for me is often the comments are as entertaining as the piece they comment upon.
We get more motivated buyers through OTM New and Exclusive than RM or Z.
Homestead38 should be more concerned about the practice of some agents posting new properties onto the portals with “Sale Agreed or Sold STC” on Day 1. This is a case of the agent promoting themselves, rather than looking after their vendor’s best interest, because a sale can fall through and the agent will not have a safety net of ready and able buyers in reserve.
Homestead38. Sorry, what you say is nonsense.
“New and Exclusive” is a deliberate act by the agent (aided and abetted by OTM) AGAINST the best interests of their client, the vendor.
By withholding the property from the biggest shop windows of Rightmove and Zoopla and only displaying it in the tiny shop window of OTM, if a sale is agreed at that point then pound-to-a-penny the property has been undersold.
When are TPO / OFT going to step in and ban this disgraceful practice? Shame on any agent that does this.
Do you mind If I ask what you do for a living? What you have typed contradicts what most people reading this site will recognise as full service, professional estate agency.
It doesn’t matter to me if you are a portal rep, a passive intermediary or a trainee estate agent but the case law precedent which more than anything else shapes estate agency- duty of care and skill, doesn’t mention Rightmove or Zoopla. Because of that the redress schemes and OFT have no say in the matter until someone proves portals achieve a better price for vendors than tried and tested professional agency.
Its possibly worth noting Gavin Brazg’s Advisory found Internet only sales achieved 5% less than traditional methods
Definitely a wind up
Homestead38 The very last act of launching a property in my business is to ‘whack it on the portals’. I can only guess you work for either Rightmove or Zoopla or for a passive intermediary/discount brokerage.
Better to have been thought a fool by some than leave a post like that and have it confirmed to all that you’re a ‘pound-to-a-penny’ guaranteed one!
What an idiot. Complete drivel. Doesn’t make any sense.
Complete guff, must be on the Rightmove payroll.
Err … nonsense Homestead38 ! The choice of marketing is not the vendors choice, it is the agents service they offer to a vendor. If they don’t like the agents service, they don’t have to use it and cannot dictate where the agents markets.
Who are the OFT? lol. (Dissolved in 2014)
Well Homestead38 that post went down well!
New and Exclusive gets free Country Life adverts too.
Most agents can’t be bothered, which is sad!