OnTheMarket has signed a new developer, Miller Homes, as a client.
The developer will be advertising its properties on the portal after signing a listing agreement.
Separately, a new lettings package has been unveiled for OTM agents, who can use it free for an initial three months.
The deal has been announced by lettings platform teclet – the trading name of proptech firm Glanty in which OTM is buying a 20% stake, with the option to buy the remainder.
The package consists of an inventory app, Laptur, developed by No Letting Go, plus referencing, data storage and other products.
I can understand Rightmove trying to make themselves sticky with their single most obvious vulnerability- letting agents but if OTM don’t understand the supplier loyalty agents have to the likes or Andy, Heidi and Bryn they are making the same mistake as Rightmove made.
Those 3 well liked, well respected, served the industry for years longer than any portal existed, suppliers have a power that is being vastly underestimated.
Two rules apply to being a supplier to this industry that should never be broken- you will make enemies
Don’t eat the agents’ lunch
Don’t eat a mutual supplier’s lunch, especially if they’re better at what you do and are doing nothing wrong
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In the light of the virus chaos and mounting calls for portal payment holidays I have a vision of Ian Springett lying on his sun lounger, drink in hand, gazing at a Caribbean sky and thinking: ‘Getting the push when I did was the best thing that ever happened to me.’
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Pity estate agents haven’t enjoyed the new homes bounce .
Because rightmove cut agents out.
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