Rightmove tops a list of global property portals that names just nine operators. In eighth joint place on the list are UK online agency firms Purplebricks and easyProperty.
Property portal guru Simon Baker, based in Australia and writing in Property Portal Watch, says Rightmove is a highly focused business. He says of Purplebricks and easyProperty that they are the future as instruments of change.
He says: “I really like what Rightmove does: they’ve done a fantastic job building a portal and making a lot of money.
“If you’re in this market, and you know what you’re doing, but you don’t want to rely on pushing out new concepts all the time, take a look at what they do.
“Rightmove runs at a 75-78 EBITDA margin with revenues growing at 15-20% per annum.”
Baker names Australian portal Realestate.com in second place, saying it is good at getting money out of advertisers by creating value for them.
The portal is now moving its advertising structure to pay per listing.
Baker was himself CEO at realestate.com with responsibility for the REA Group.
Between 2005 and 2008 he was also director of Propertyfinder when it was jointly owned by REA Group and News International.
Equal in eighth place come easyProperty and Purplebricks – although they are agents and not portals.
Baker says that if anyone wants to understand what the future holds for the property portal industry, easyProperty and Purplebricks are going to drive it.
He says: “Purplebricks is a listed, 200 million pound company and it’s well funded,
“easyProperty has raised a lot of money recently too.
“They’re both trying to change the fundamentals of the way real estate works in the UK; in particular with the use of commission based sales, not just in the UK but in the US or France and the rest of Europe where there’s lots of opportunity.
“Sites like these are going to change the way we buy property.
“The guys currently doing it won’t be doing it in the future. It’s like saying taxi companies will create uber or the hotel industry will create Airbnb. That’s never going to happen.
“It takes someone outside the industry to create change, and rapidly growing businesses like these are showing the initiative on that.”
Heads up. Incoming comment of the week.
Hmmmmmmmmmmmmm.
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Let me save the Usual Suspects the bother of having to spill their bile this morning.
IT’S A DISGRACE. WHY ISN’T OTM AT NUMBER ONE ON THIS LIST?
There. That should save them a bit of time today.
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Who an earth would have thought OTM should be on the list? Are you qwackers! thinking any OTM member would think this…….. Usual Suspects have indeed spilled their bile or I have missed your sarcasm along the way.
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Ummmm! Nothing like a bit of schmoozing to start the day off. Let’s look around for anyone who might need a consultant and openly blow smoke up their RRR’s
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The only thing I can see easyProperty driving is home, after they have switched the lights off for the last time!
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Typical… agents spend the money, take the risks … RM get the credit !
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Best, or most dominant? I feel with Rightmove, there dominancy has made them complacent and slow to further innovate. They in my minds are the most dominant, not the best.
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Property Portal Watch – Can you imagine a more smug publication, with lots of smug pictures of smug portal sales teams, telling a smug story of how they are generating record profits off the back of small independent agents.
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Dont get mad get even…. join OTM ! (there that should get them going!)
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There you go, another non agent predicting how the future will pan out. Stick to what you know you numpty whatever that is? Oh yes that’s right you’re a property portal guru based in Aus!!!
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Rightmove is a very successful marketing tool. I am not surprised by this article.
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If I may ask, YOUR take on this coming from what perspective, ‘Archie’?
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‘He says of Purplebricks and easyProperty that they are the future as instruments of change.’
Guru
Lol
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Purplebricks I kind of get someone using them BUT the moment he said …….and easyproperty mmwwhhhaaaa
He’s been on the tinnies too long!
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RM4 users might enjoy a veracious site specific search (PIE) for SimonBaker(Peebee)
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Oh, dear… looks like I’m going head-to-head with our Antipodean onlookers once again…
…this time I’ll keep it short.
This ‘guru’ seems to think that the three companies named have the future sewn up good and proper.
Yeah, well – Sony thought exactly the same with their Betamax.
’nuff said?
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Your not still using your betamax?
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Unfortunately, the HMV 1918 Consolette TV it is connected to has a dodgy picture tube these days and everything looks pinky purple – but in some ways it adds a certain something to those episodes of Jason King…
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I had to watch ‘Nightmare Tenants, Slum Landlords’ last night in green due to the cathode going.
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Probably added to ‘the viewing experience’…
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Sinclair C5 also comes to mind.
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Sorry, a little late to the game on this one. My Amstrad em@iler can be a little fiddly on occasions
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EasyProperty 794 listings in November, 842 in February, currently 721. Remind me how many millions they have spent to generate a drop in volume by around 9% since the end of last year?
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At least two more as per normal…
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Blimey! I would have thought that even taking into account the time difference, Mr Baker would have had something to say in respect of this round of comments…
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Hi everybody,
We are a Real Estate company located in Costa Blanca, Spain, and We agree that the way of selling properties is changing, but We aren’t considering the reduction of the fee is gonna be a solution because nowadays the number of visits for selling a house is around 100 and there is not way to assist all this amount of clients reducing the fee, maybe it will be possible to adjust a little but not too much.
We consider the best way to safeguard our job is working with exclusivity by clients or like we do it, producing our own projects in order to have the control of commercialization. We build our projects and We collaborate with reliable Estate Agents in all around Europa respecting their commission. In this way We are very happy We are not looking for this kind of companies that work for nothing and they don`t do anything else.
Our project is called “Villasbenidorm” if you want to help us selling in the UK to your clients, you can visit us whenever you want in villasbenidorm.
Best regards.
Ricardo Perez
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