Clive Beattie, the acting CEO of OnTheMarket, took over following Ian Springett’s abrupt departure from the company at the beginning of March.
Beattie is perhaps not so well known to agents as Springett, so a new video, in which he is interviewed about the portal, should be of interest,
Questioned by Fiona Orford-Williams on EdisonTV, he discusses how OnTheMarket differs from other portals and how it has grown its market penetration.
He then talks about the interests of agent shareholders and external shareholders and how the two are ‘aligned’.
In a market where COVID-19 is having a major impact on how property agents can run their businesses, Beattie outlines the moves that OnTheMarket has made to help its customers trade through this period and how the group has the financial resource to cope.
Finally, he explains how he expects the real estate market will adapt as the economy unlocks.
Comments (4)
OTM was started by agents because they thought they were getting a mutual. This is just another PLC, trying to convince agents they won’t become another Rightmove.
Agents have the power, it’s their listings, it’s their data. They can control who the winners and losers are in the portal market.
It must not be a PLC.
Just a comment. The OTM advertising strap line states on the Eye website that they are ‘ owned by Estate Agents ‘ yet adjacent to that claim the advert says ‘ c.65% owned by Estate Agents ‘ because I always thought that owning part of something doesn’t mean you fully own it or am I missing something? I will now finish my breakfast in my house ( of which I own 85% the Bank own the rest ).
When Clive refers to an investment in Glanty this clearly demonstrates a focus on a tech enabled Portfolio of products and services.
Glanty is, of course, better known under its trading name of teclet, the lettings platform that is powering increasing numbers of agencies.
The shareholders will always want as.much profit as possible meaning increasing costs to agents , Agent shareholders want as lower costs as possible , this in no way can be described as aligned