OnTheMarket is to launch a new round of TV advertising this month.
Its advert will appear on over 40 channels, including Sky 1, Sky Sports and Sky News, although not on ITV.
The portal also said yesterday that it will continue its ‘heavyweight’ investment in paid search on Google.
The portal, which is coming up to its second birthday and which faces legal action next month involving two member agents and its ‘one other portal’ rule, has also released a new round of testimonials.
Peter Symons, a senior partner at Stags in the west country, said OTM is providing it with 25% of its portal leads.
He said OTM’s performance has been “absolutely outstanding”.
He went on: “It provides our 20 offices with very good quality leads and we believe it is therefore good value for money. I believe OTM attracts a high proportion of its visits from strongly committed buyers rather than casual browsers.
“We never expected its lead generation to rival the industry leader in the short term, but at this stage – after less than two years – the portal has certainly made its mark.”
Tim des Forges, sales director at JLL in Knightsbridge, said: “In terms of the volume of quality leads, OnTheMarket performs better for us than Rightmove. After less than two years and up against two very well-known portals, we feel it is making very significant inroads.”
Simon Hill, managing director of Michael Graham, which has 14 offices across Bedfordshire, Buckinghamshire, Cambridgeshire, Hertfordshire, Leicestershire, Northamptonshire, Oxfordshire, Warwickshire and central London, said: “The enquiries we receive from OTM tend to be of a very high quality which is key if we are to deliver the best possible service to our vendor clients.
“The impact of removing our properties from Zoopla has been minimal because the leads we received were often from casual browsers who were not genuine buyers or tenants.”
OTM chief executive Ian Springett said: “These statements of endorsement from large and well-known firms are testament to just how far OTM has come and how it continues to progress and perform for its agents.
“As we approach the portal’s second birthday, we look forward to building on our successes, and we remain as committed as ever to our long-term strategic objective of building the best portal for agents and consumers alike.”
I want to OTM to do well and challenge the dominance of RM and Z. It’s great to hear such great testimonials for OTM but you feel that it’s all a bit BS from those with a vested interested in OTM. Anyway, good luck to them.
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These are the desperate words from despondent agents looking to do anything to try and claw back some of their investment and save face.
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This is like when you get given a gift voucher for a shop you don’t like. Can’t get your cash back and just have to spend it on something.
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As an OTM member I can say it’s very dissppointing.
I have never heard from my rep, leads are few and far between, nothing has been developed, public still not aware of it, little to no advertising, no drip feeding of news stories to the press to gain attention such as property hot spots,
As an experienced agent said yesterday Ian Spriggnet is a modern day Nero.
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I so wanted OTM to succeed and still do…..but it is clear from talking to other agents and reading a lot of what is written……..they are not listening….. time to review the strategy being used….but above all, listen to what is being said. Just read the comments above, and below I suspect!
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Oh, they’re still trading are they?
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Oh… you’re still here, are you?
;o)
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Never been one to shy away from ‘I told you so’.
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I don’t see Paul H on here anymore though, where’s he gone? Court?
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Nope… just better things.
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I’m sorry – trusty Plank – you ‘Dislike’ the fact that someone is apparently doing something better than before?
Care to explain?
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Didn’t he make a 5 year investment in OTM? I just remember him very curtly (insultingly even) addressing those of us who were sceptical. If he’s gone on to better things I imagine he’s not too concerned with the money he’s burned so that’s good.
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Can’t quite figure out your point here – other than a snipe at OTM and the person you are now making potentially libellous statements about.
I am not here to defend Paul H – I’ll leave that to him if he so wishes to engage, as I know he is still an avid reader of EYE.
I just can’t quite figure why it seems you would have felt better about things if your initial post had been in any way, shape or form correct.
Takes all sorts, I suppose…
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Which statement is potentially libellous out of interest?
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…and after receiving a great many insults, and good deal of ridicule for projecting the failure of OTM, I am merely taking the opportunity to gloat a little now it seems (in my opinion at least) that I was right.
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I believe Paul H – Is no longer an estate agent, he sold his business ………
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Fair enough…banter aside…good luck to him.
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Dear OTM
I don’t use you.
Nothing I have heard or seen makes me want to change my mind.
And that’s disappointing because I really want you to do well, it would mean more leverage to bring RM prices down, more choice to advertise with you, RM and zoopla. And if you dropped the two portal rule only …………………!
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cards on the table, I have done some routing about as on the 2nd birthday of AM I have a business decision to make; what I do with what I’ve built. Those who have seen RM4 are impressed at both its functionality and its effectiveness at controlling the threats originally highlighted as motivations for AM in the first place.
The technical team of AM have done a storming job and there is a solid, quality development team there.
I suspect a marriage of two very good systems could put a fresh impetus into the project as we get close to the half way point which is now only 6 months away.
I have a thorough understanding of the landscape of our industry and would say a combination of AM, OTM and the full suite of RM$ services would be a far more formidable competitor than anything else by a very considerable margin.
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Are they going to listen and give your proposition a fair hearing though Robert? I very much hope so.
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A point/argument/suggestion (delete where applicable) that I – and others, I am given to understand – have made to more than one AM Director over the last 2 years.
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I own a two office London based Estate Agency.
Like many of you I really want OTM to work, but to date it just hasn’t worked for us.
Account managers for Zoopla & Rightmove tell us their busiest time is between Christmas & NY. We came back to 22 RM leads and 0 from OTM. Two years on we are naturally very very concerned.
I can’t help but feel dropping Zoppla was the wrong decision.
Still yet to meet my OTM account manager despite numerous requests.
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“I can’t help but feel dropping Zoppla was the wrong decision.”
From what I understand of the London market from others, that is probably a correct assumption.
“We came back to 22 RM leads and 0 from OTM.”
The zero is understandably worrying for you – however what is the ONLY issue here is what the 22 RM leads produce in terms of actual income that you wouldn’t have achieved otherwise – yes?
I’d be very interested in the answer to that when you have it, SJromans6100b.
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Its getting harder to defend OTM PeeBee, I know you were a reluctant participant but embraced it like any good person should.
Might be worth talking to others and see if they still believe in it.
As far as i am concerned Jan’17 its a dead duck.
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I’m not defending it, smile please – my comment is all to do with the 22 ‘leads’ from their other source – not the nil, nada, zero, nought received from OTM.
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They are going backwards, agent numbers are publicly down, visits are low and going no where, everyone knows this, it’s plain to see. Even they do not deny it, just quote YOY figures, which mean little.
My prediction.. future Springett press release – “Record Visitor Numbers”… up YOY. But basically false visitor numbers, paid for as one off, high cost google traffic, purely for a headline. Trend charts, won’t be seen anywhere. Prove me wrong OTM, please!!!
OTM, stop faking it, and do what is best for the industry and your members, drop the one portal rule, and invest in what matters, not overseas and commercial.
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As we are talking portals:
Q: Has anyone had any issues with portal juggling since RM moved to 14 weeks ?
Worth asking I thought, nothing interesting around my part of the world, so must be working then ?
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Different types of #juggling are now being introduced by those we expected – but the ‘old’ stuff has reduced by 95%
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If Peter Symons from Stags is saying that 25% of his leads come from OTM. Given the “one other portal rule” it must follow that 75% come from the “other portal”. Given they get three times as many leads from their other portal, this is hardly a ringing endorsement for OTM!!
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Good spot,
More worrying is if 25% of leads come from OTM, 75% from RM
What the point of a High Street office, all going online innit! 😉
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Not yet.
We also had a number of people come into the office, and more registered directly on our website or telephoned us.
The chances of a ‘listing outfit’ like PB, which charges its fees up front making any serious in roads here in SW London are remote. PB currently have a very small selection of mainly ex-local authority properties for sale in my area and they do not and will not pose any threat to us IMHO.
We are seeing/hearing about a number of the larger chains being in trouble, with one recently being bought just before Christmas. Another firm with a number of branches has closed it doors. We are seeing a number of new properties coming to market in what are going to be very difficult market conditions.
Unlike many I have been in the business for a long time and seen this market before, we are going to see a prolonged slow sales market and I forecast we will see a number of the chains which have been built up in the last ten years fail. They have neither the staff, the knowledge or experience to deal with a downturn. Sales staff who rely on commission will go elsewhere and they
Interesting times lie ahead for agents that can adapt quickly are remain nimble on their feet.
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‘Another firm with a number of branches has closed it doors’
Can you tell us who that was?
Thanks.
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Jacksons, Andrews and Cluttons for starters!
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Rivero….can you please explain why I would be in court?
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Why would the big London agencies start this thing without Foxtons? I have always wondered why would they not want all that stock on OTM? Foxtons are head and shoulders above all other agents in London.
#jealousy #hiddenagenda
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OTM is a catch up which so many agents wanted and the industry really needs. But while agents continue to support competitors like RM & Z to OTM ……. what do you expect! You keep undercutting your potential by remaining with enemy/opposition, YOU are stopping OTM being number one …. wake up people. Far too many wingers are sitting on their backsides expecting OTM do everything for you. A little more focus and self promotion of OTM would turn things around very quickly. Take control.
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Woodentop,
When is enough, enough?
Not trying to be difficult just curious, do you keep going until OTM decide its not viable for them to keep it running and waste your money until then?
Do you wait until they are in jeopardy of losing their wage so they start allowing third portal advertising or onliners on board to grow agents?
Or do you give it 3/4/5 years and say thats it i’m done?
As business owners everyday we a faced with choices where to spend our money for the best ROI, And sadly OTM is looking like a lame horse.
The sad thing is there is nothing coming from them about “exciting new developments” – I have never worked in on a portal or been a computer programmer but i have invested in some “Tech” companies. And i can tell you to build a back office system which would be a major step forward is cheap and relatively easy.
How can an agent drop RM at this time, they need the exposure RM bring but you may hate them RM plus to help appease vendors and for comparable reports is essential the whole time OTM does not have it.
Look at media relationships Z & RM are always in the press about property hotspots, prices increases, market commentating – OTM i cannot ever remember doing this, its free and offers super exposure.
OTM remains a good idea, it is however becoming more and more apparent how poorly executed it has been.
A lot of individuals have made a lot of money off OTM – Sadly independent high street agents are not one of them.
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I can understand why people go straight for the stat that remains unstated I.e the 75% but really all that matters is the cost per lead and really and more crucially the cost of the leads that lead to business, the Glengarry Glenn Ross ones.
if they’re getting 25% from OTM but they’re only paying OTM a fraction of what they’re paying RM or whoever then that’s a more nuanced ROI argument.
For anyone who’s interested we’ve just done the largest study of its kind on all of the main portals and the quality of their leads imported into RPS from a good section of our client base. I’ll post the link if you do.
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Do post it, sounds interesting.
We do our own analysis but interested to see others and if it tallies.
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Here’s the main story http://www.reapit.com/News/more_details/news-247-agency-254
And a link to the report itself
http://showcase.reapit.com/irr/
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Thanks. A nice read.
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The only way that OTM is going to work is they either drop the 1 other portal rule OR they sell out to someone willing to invest millions into making it a big portal player.
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