Assets of failed portal NeedaProperty bought by Houser

| Rosalind Renshaw

The assets of property portal NeedaProperty have been bought by new property search engine Houser.

The NeedaProperty business, however, has not been acquired and we understand it is due to enter liquidation on Friday.

As reported here on Eye, NeedaProperty went out of business in early January, just days before Houser launched on January 12.

The assets, which appear to have been bought in a pre-liquidation deal, mean a relaunch for NeedaProperty, while the portal’s founder, Scott Green, has joined Houser as a consultant.

Agents will be given five years’ worth of free listings, as they are on Houser, and Eye understands that the two very different business models of Houser and NeedaProperty will operate together side by side.

Another acquisition by Houser is said to be imminent.

In a statement, Houser said it had “decided to compete directly with other portals”.

It went on: “In order to gain market share and provide more value to our members, we have been working on growing both organically and through strategic acquisitions.

“In pursuance of our goals, we have invested in the acquisition of NeedaProperty Ltd assets, which will be strengthening our brand and product.

“Our aim is to work with existing market players and create mutually beneficial partnerships, which will further improve the estate agency ecosystem and bring profitable returns on investment.

“In line with our vision for a free and transparent real estate market in the UK, we are also giving free listings on NeedaProperty.com to all new and existing members, for the next five years.

“We have also brought on Scott Green the founder of NAP as a consultant. He will be providing increased value to all participating NeedaProperty agents and new advertising agents across the Houser portfolio.

“NeedaProperty.com is a renowned and established brand in UK’s online real estate market.

“The site recorded over 12m user sessions in 2014. The average time spent by each user was 3 minutes 45 seconds, with 5.58 average page views.

“With this acquisition, Houser’s market share will be growing to rival the industry’s bigger portals and we will be able to provide even better services and improved features for our users, as well as offering all agents five years of free listings on both Houser.co.uk and NeedaProperty.com”

Houser, which launched earlier this month by populating its site with properties taken from agents’own websites, said that the acquisition is expected to boost its growth rate and bring more agents on board.

The statement said: “In the coming weeks we will be releasing more details regarding the acquisition, including how many branches both Houser and NeedaProperty will collectively have throughout the country.”

Scott Green said: “I am very pleased that the Houser brand will use the NeedaProperty assets and relaunch the site under their own internal infrastructure.

“We are also very pleased that our loyal agent base will now receive five years’ free marketing across their portfolio of sites.”

This is how Eye reported the launch of Houser and agents demanding their listings be removed.

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60 Comments

  1. The Outsider
    January 28, 2015 at 07:15

    Anyone playing bullsh*t bingo, would have had a full house after the first 3 paragraphs of that statement. Who on earth has ever used the term"estate agency ecosystem" ??

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    1. Disillusioned
      January 28, 2015 at 08:18

      Probably Harree.

      Report
  2. Trevor Gillham
    January 28, 2015 at 07:22

    Thanks, have to make another coffee now after spilling that one, never laughed so hard reading that. There is no need for any more portals, even free ones.

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  3. Paul
    January 28, 2015 at 07:33

    Got to admire him though. Creates a site that scrapes agents properties and when he realises that he is alienating the very people he wishes to secure business with, he buys a portal with properties already uploaded with their permission. I'm sure there will be many out there who can't resist the free part of the deals!! More portals more portals that's what we need because we can't operate without them!!!! Only issue is he should have tried to buy Zoopla, hold on………!

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    1. Ric
      January 28, 2015 at 09:54

      Ha ha…. I was actually thinking the same! He has his eyes on a Z acquisition! BUT who "NeedsaZoopla" hey.

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  4. Gecko estate agents Ltd
    January 28, 2015 at 07:41

    Vendors only want to be on RM or Z any other portal is doomed to fail.

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    1. Yorkshire Agent
      January 28, 2015 at 08:41

      So is that a categorical insurance you will never join OTM? I am afraid I have always believed in life some lead others have to follow, otherwise there can be no change for the better. I hope you have deep pockets? Without this innovation from Agents Mutual the future looked bleak in my humble opinion as a small independent.

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      1. smile please
        January 28, 2015 at 08:48

        Not unless OTM change their rules he is a "Bedroom Agent"

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  5. Jonathan Radford
    January 28, 2015 at 07:49

    I have been following Houser since launch, and while their approach to the business was not exactly safe, at least they are trying to do things differently and they are serious about it. Looking at the OTM launch, I was far from impressed, at least the guys at Houser built a better website without all the hype and marketing. Their purchase of NeedaProperty shows that they won't go down easy and are willing to compete with the big guys – and that is never bad for the market. Don't get why people need to bring these guys down.

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    1. interestedobserver
      January 28, 2015 at 07:56

      Good point. I don't see any innovation in the main stream from Estate Agents, just a collective 'she's a witch!' from anyone doing anything different.
      OTM was well planned and executed but delivered nothing new in terms of innovation or ideas. I'm not implying Houser is the Apple of Estate Agency but they are not burning the looms, unlike most. I'd love to know how the nay sayers see Estate Agency developing as it's no online agents, hybrids, houser etc etc

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      1. Property Pundit
        January 28, 2015 at 08:21

        @ interestedobserver – so being owned & controlled by estate agents and not the city/shareholders is not an innovation in your book?

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        1. ray comer
          January 28, 2015 at 11:43

          and Rightmove was owned and controlled by who when it launched??

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      2. Robert May
        January 28, 2015 at 09:28

        There are two very similar sets of domain knowledge, the generation 3 property website domain knowledge of Rightmove and Zoopla and it has to be said OTM which results in DIY property searching. There isn't any room left in that sector for another success. Online Agency is wholly reliant on, at the mercy of and competing with G3 portals. That is the reason wealthy investors ploughing their cash into Online Agency is farcical. The second Domain knowledge is that of Agency; genuinely understanding how to sell property and how to compete with other Agents who also know what they are doing.

        The discussion that slipped of page 1 a bit too quick on Monday, the story of the marketing success of the AM campaign was actually the discussion you are after but because of the competitive implications of the discussion is a debate no-one wants to have.

        While 23% of the industry has been focused on mid 90's technology close to 60% have sat on the fence. Understanding the reason for that and producing a solution for that 60%- (80% if one includes the corporate agents) is where the future is headed and it is a place the 23% membership of AM will quickly latch on to too. The Agents without premises are part of the future and some of the Passive intermediaries will earn a living too but In my opinion the shape of agency looks very much like it did 20 years ago but with technology being used appropriately and intelligently by competitive and profitable traditional agents of all sizes. That said there is still a major data battle to be had before the industry can move on.

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    2. Paul
      January 28, 2015 at 08:04

      JR, as much as I try I can't not reply to your post and it's not personal. Do you really think that website is good? Have you really tried to use it, it's shocking. Appreciate the guy is having a go, but his model, whichever way you cut it, he needs EA's, without them he hasn't got a business. Where is the innovation there?

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      1. Jonathan Radford
        January 28, 2015 at 08:27

        Paul I know any model needs EAs, its true, and the folks at Houser probably don't have enough, I don't know their numbers. But I did use the site, not on launch day though, so they might have fixed some things when I gave it a go. It wasn't bad, I liked the design the search was not perfect but it did show some results. I also liked the area introductions they had with useful stats. That being said, when I compare it with OTM, I can't help but feel OTM could have done better with their funding. As for innovation, the features houser says they have, like virtual assistants and property images setup etc seem good and I feel they can be evolved further. Finally, don't you think NAP was a good one? and buying it shows that despite their mistakes, the people at houser may just want to make things right?

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        1. RealAgent
          January 28, 2015 at 08:40

          Come on JR the houser site is atrocious and to defend a company that effectively steals listings to furnish its own ambition, then frankly that makes you either so blinded by your desire to see OTM fail that any option is a better one or it makes you a fool.

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          1. Jonathan Radford
            January 28, 2015 at 08:55

            I never said they did right by the agents who didn't want their listings on their site. I don't want OTM to fail, but I don't have to support OTM just because it's a collaboration of agents. I believe free portals should flourish. I want to have options. You can call me blind or a fool, but I too have made mistakes when I started all five of my businesses. I learnt from mistakes and I fixed them. If Houser people are fixing things I don't see why they need to be brought down.

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          2. RealAgent
            January 28, 2015 at 09:04

            Did one of those mistakes involve taking something without permission JR?! As I have just seen SP quote I would say he has already demonstrated what sort of man and company he runs. There are no second chances when it comes to business ethics, he's burnt his boats.

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        2. smile please
          January 28, 2015 at 08:53

          I will put my neck on the block here and say i dont admire the guy. This is a guy that took properties information that did not belong to him without permission, When agents then (rightly) complained her made it as difficult as possible to remove the properties. He now buys a defunct website to gain credibility – for any agent that is thinking, "Oh well free listing, may as well take it" ask yourself this very prudent question "Is this the type of man you want to be associated with?" – Go with your gut!

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          1. SmilePlease2
            January 28, 2015 at 09:23

            Either you work fulltime for …….. or you are not an estate agent. There is no way; someone can have this much time. You seem to be putting your neck on the block in all sorts of stories. Going with the gut is what most likely got you to the size you are? Please don’t take any of this personal; you must be very nice on the inside.

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          2. smile please
            January 28, 2015 at 09:46

            Ahhh my namesake appears! i truly am honored! was it not the last time Houser/Gecko was getting a bashing you made an appearance? Dont worry i dont take anything personally (unlike yourself) as for my waistline never been trimmer, new year resolution and a healthy diet of property eye!

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    3. MrJones
      January 28, 2015 at 09:03

      Thanks for that comment. I really needed a good laugh this morning.

      Better website? LOL – Have you actually looked at Houser? I'm guessing you have, as your comment reads like it was written by a Houser representative.

      I don't think I've come across a more poorly designed property site, ever. Whatever your feelings about OTM, you cannot deny that is a very slick and modern site. Possibly one of the nicest property websites out there. Responsive design, minimalist,clean, and most importantly, considerate UI.

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  6. Chloe Anderson
    January 28, 2015 at 08:16

    Dear Rosalind, as much as I respect your work, I have to say your recent pieces have been far from unbiased. I think resurrecting needaproperty is a great move because it was a great site. Your headline says 'failed portal' – that is such a strong word and coloured the story before I actually got down to read it. Those who have used need a property or have been on it, know that the site merits more than a 'failed portal' label. I can't help but say that I am just a little bit disappointed here. You are the editor of PIE, if this is how you're going to be presenting stories you might want to reconsider the tag "impartial daily news service". A loyal reader.

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    1. Property Pundit
      January 28, 2015 at 08:22

      Pretty clear to me that needaproperty has gone out of business. Counts as a failed portal to me – how can that be biased?

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      1. CommonSense
        January 28, 2015 at 08:49

        My dealing with Scott has always been good. He would bring a lot to the table in terms of what to do and just as importantly, what not to do. For many reasons businesses go up or down. At least Scott answers his phone, has gotten us free 5 years and didn’t go hide in a corner.

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        1. RealAgent
          January 28, 2015 at 08:57

          5 years x nothing = nothing. Why do you think OTM are charging? They are charging because to achieve the estate agents (US) aim of having some control on the future it needs to become know, that means advertising, more than that it means TV advertising and sustained TV advertising at that. That takes money. What makes me laugh is the hypocrisy of all those people that criticise OTM for not having enough money to compete and then something comes along that is advertising free listing with NO HOPE of ever competing and its the next messiah!

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          1. SmilePlease2
            January 28, 2015 at 09:43

            Is it RealAgent or RealOTM.

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          2. RealAgent
            January 28, 2015 at 10:42

            Oh I'm sorry SP2 I didn't realise that having a strong opinion on something meant you had to change your login. Having seen your posts on here today makes me think there perhaps needs to be a moderator because frankly your insults and mimicking of Smile Please is a disgrace and shouldn't be given public airing. What a sad sad person you must be.

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      2. Jonathan Radford
        January 28, 2015 at 10:09

        It's clear you've never used NAP and know nothing about it. Property Pundit? Really?

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        1. Property Pundit
          January 29, 2015 at 12:11

          Well we don't need to talk about it any more do we Jonathan?

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    2. smile please
      January 28, 2015 at 08:55

      At least it makes a difference from all the "Pro" stories associated with the pages advertisers.

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      1. SmilePlease2
        January 28, 2015 at 09:25

        this comment doesn't even make sense. more comments i read from you, more it makes it clear. You have daily comment quota to meet.

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    3. PeeBee
      January 31, 2015 at 09:58

      "Your headline says 'failed portal' – that is such a strong word and coloured the story before I actually got down to read it"

      So… it's a "thriving" portal then, is it? A "successful model"? "One to watch"?

      IT BOMBED. Catch up with the world – it's spinning WAAAY faster than you can cope with.

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  7. simon.hughes
    January 28, 2015 at 08:33

    From reading this it seems obvious that what happened is that NAP have done a "Phoenix" with Houser doing a pre-pack purchase agreement all agreed before NAP went into administration (i.e. limitations to selling any asset / goodwill on the open market) and as such Houser is the same old business just with a different trading name………… oh yes and losing all the debts / shareholders original investment and as such there must be many unhappy creditors!! Only an opinion but think I am right! Not sure we need any new portals now either as there is more than enough proof there is no room for them.

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    1. CommonSense
      January 28, 2015 at 08:40

      why do you think there is no room for new portals? one even launched yesterday.

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    2. smile please
      January 28, 2015 at 08:57

      Great comment Simon, i think people are overlooking the "Phoenix" i would be livid if i was a creditor and saw this story.

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      1. SmilePlease2
        January 28, 2015 at 09:27

        livid, neck on the line, gut, you make me laugh.

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  8. CommonSense
    January 28, 2015 at 08:38

    ROSA thank you for another wonderfully objective writing, you are artistically precise in spinning things in the desired direction. But the truth is in an increasingly polarized society we live in, personal bias is an increasingly important subject, and a complex one. Some may wonder does objectivity matter? Is the old age idea of impartiality in reporting worth preserving? Most of us know and must acknowledge upfront that bias is a two-headed beast: touching partly about the personal biases that reporters may bring into their work because of the personal opinion and worst because of commercial directives, and partly about the middle-ground reporting that muddies the truth in the name of fairness. It is clear from reading any post and looking at the right side of the article on “who controls the context” of the stories but that is just it.
    For starters, I personally think journalists should just come out and tell readers more about their beliefs and what they stand for. If Rosalind’s personal opinion of houser is what her stories are written based on, she should not sugarcoat it and just say it. Her personal negative opinion should remain in all aspects of her reporting on houser (which so far she is consistent with) and it should remain like that until she thinks otherwise.

    As a society we expect (actually expect is not the right word, we demand) professionals in all sorts of fields to put their personal opinions aside, or keep the personal opinions at home, when they do their work — imagine if the judges, the police officers, and the teachers were able to bring bias in their decisions. Why would we expect less of journalists but that is the difference between journalists with household names and those who “have been”. The reporting should either be purely objective or if it is personal or commercially driven (it should say, paid for by). Comments are the place for personal opinions.

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    1. RealAgent
      January 28, 2015 at 08:46

      Have you been living in some parallel universe?! When has journalistic content not had bias towards a publications affiliations. Newspapers have for decades sort to influence governments with their take on "public opinion" Many are renowned for their bias to one political party or the other. I would say that in many stories on EYE there has been a balanced argument, in this particular one, go back and read the comments made after the houser launch, I think that will give you a flavour of the mood of the "industry"!!

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      1. CommonSense
        January 28, 2015 at 09:10

        Yes bias exists and that is exactly what I said in my comment above. “Many are renowned for their bias to one political party or the other” but with those publications, we know which party controls the message, which is evident here also but for some reason Rosalind actually thinks her writing is objective. As for the “Mood of the industry” it is not determined by few comments. The industry is much larger than the comments here or elsewhere. at the end of the day what matters most is ROI. If anyone was to tell me otherwise, they are from the parallel universe you are mentioning above.

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        1. RealAgent
          January 28, 2015 at 09:21

          171 comments against Houser is I would suggest more than "a few comments" Your stubborn defence of this site does you no favours.

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          1. CommonSense
            January 28, 2015 at 09:36

            You actually went and counted 171 comments about the site. Not a good use of time. I have been a critic of OTM until the launch couple of days ago. Regardless of the hiccups, which most new companies go through, I can say they have actually launched a start. One of the biggest brand reach for them was the venom of people like me but this week I no longer have the same opinion. Same with the houser, more people write it off in comments, more they will grow. If we minus the comments of those who have commercially driven opinions and if truly objective outlook was to be considered, what matters most? Your own business or any of these portals? If your own business matters and your comments are genuine, as time goes by, it’s Houser’s job to make sure they can win the support of people like you. Just like OTM has changed me, not because they launched something out of this world but they launched and I would have to eat some of previous words. Why, because I was a genuine critic.

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          2. RealAgent
            January 28, 2015 at 10:50

            Well given you know nothing about me CS I fail to see that how I spend my time is any of your business. But actually it took no more than a few clicks of a mouse so hardly taxing. My point remains Houser crossed a line, they then compounded it with their requirement to make a stupid declaration that agents removing their property "doesn't care about their customers" who does that!?! If you want to defend them you crack on but a leopard DOESNT change its spots!

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      2. Chloe Anderson
        January 28, 2015 at 10:16

        RealAgent, have you ever been involved with any publication yourself? Do you have journalistic experience? I do. I respectfully pointed out to Rosalind that there is a difference between reporting NEWS and publishing an Opinion. If Rosalind wanted to write about 'Houser acquiring a failed portal' she should have written an opinion piece. If she wanted to report Houser's acquisition of NAP, it should be a news story with no bias. Also, when you say newspapers have sought to influence governments, they do so by writing opinion pieces, not by tainting news stories. That my friend is sensationalism and borders on yellow journalism.

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        1. RealAgent
          January 28, 2015 at 10:59

          Well actually I successfully wrote some insightful pieces for Scouting magazine when I was at school. Chloe you didn't respectfully do anything: you posted on a public forum which speaks more about your ego than the cause you serve to portray. That Needaproperty failed is a fact whether you like it or not. Houser has been rightly berated on here for their tactics. I see nothing wrong with the reporting or headline about both of those facts.

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      3. Harree
        January 28, 2015 at 14:39

        RealAgent it's 'sought' not 'sort' … I thought (or as you might spell it 'thort') that you were a RealSpeller?

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        1. Harree
          January 28, 2015 at 14:41

          'Newspapers have for decades sort to influence governments'

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        2. RealAgent
          January 28, 2015 at 17:15

          Ah Harree thank you for pointing that out and there you go you are actually a LEADING something…..you're a leading speller of course!

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  9. Blue
    January 28, 2015 at 08:53

    So, as a vendor would I prefer my property marketed on only Rm and Am, or, would I prefer it marketed on on Rm, Zoopla, a, b, c , d , e , f , g , h ,i ,j , k, l etc ?
    Decisions… decisions.

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  10. Rivero
    January 28, 2015 at 09:00

    Assets? What they bought their PCs and staplers?

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    1. smile please
      January 28, 2015 at 09:09

      Fancy way of saying agent and property database and domain name, Trying to sound more legit! 😉

      Report
      1. Rivero
        January 28, 2015 at 09:20

        I'm guessing it won't include their creditors though!

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      2. SmilePlease2
        January 28, 2015 at 09:46

        see what i mean, comment quota everyone smile please.

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  11. marcH
    January 28, 2015 at 09:01

    This is all very well but as an OTM supporter, does anyone have a short cut to getting their properties removed from needaproperty ?

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    1. SmilePlease2
      January 28, 2015 at 09:55

      Congratulation on purchase of your new Franchise. I was wondering if you have any farms for sale. Since I heard OTM franchise is all about selling land. Scotland farms & land, Wales farms & land, Devon farms & land, Kent farms & land, Cornwall farms & land, Cumbria farms & land, Somerset farms & land, Essex farms & land

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      1. Robert May
        January 28, 2015 at 10:13

        If that is what people are buying that's what Agents should be selling! In 2008 agricultural land was doing about £2500/ acre, 6 years on it is £10,000 I can’t quite understand how or why you are attempting to knock agents for doing exactly what their professional training has taught them to do; Work out where the market is and earn a commission from selling there.

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  12. GPL
    January 28, 2015 at 09:58

    Houser?… just another Online Shop Window?! It's interesting that these companies seek the easiest route to making a profit for themselves… all behind the mask of portraying themselves as an estate agent?! They are an Online Shop Window, a Listings Service… that's all. Houser and their Online equivalent are a modern day sandwhich board, no more than that. Next!

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  13. Woodentop
    January 28, 2015 at 10:05

    “In order to gain market share and provide more value to our members, we have been working on growing both organically and through strategic acquisitions". Basically you mean stealing from other businesses. The answer to anyone who does not want their properties on any web site is to report it to trading standards under copyright law and then get your solicitor to write a letter advising them that for everyday they continue to market your copyright a fee will be charged per property per day. £100 per property would not be unreasonable following previous case law on copyright infringement. As Houser have already shown their disrespect to agents over removing copyright and blatant arrogance …. they are in the dock, a case of poor history coming to haunt them BIG TIME. There is also no reason why OFT cannot make banning order on the director(s).

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  14. wilko
    January 28, 2015 at 12:23

    I still really am struggling with this (ongoing) proposition……the only thing I keep coming up with is WHY?

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    1. PeeBee
      January 29, 2015 at 19:15

      Like the old saying, wilko – 'Because they can'. A LOT of money clearly went into creating FaP and getting it where it is/was before last week – so now Houser and its' shrewd backers (…whoever they are… if we can't guess already…) snaffle it for what is probably tuppence in the pound.

      I hate to say this – but it has the makings of a good move. That being said – ANYTHING could happen when Mirza the 'dozer starts clumping all over it in his hob-nail boots!

      Report
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