Online agents… Where are they headed?

 

Since the announcement by Agents Mutual last year that they would be launching a completely new property portal namely Onthemarket.com there has been a concentrated coverage by the media on the subject, including all the pros and cons of having a new property portal, comments from agents and their reactions to the “one other” portal, never before had property portals been discussed in such depth, it initiated a strong debate within the industry regarding the changes about to happen and the savings the traditional Estate Agents would be making in the future by making certain choices in their advertising strategy. The Big two property portals Rightmove and Zoopla came under the spotlight like never before, it was inevitable as the agents joining Onthemarket.com were asked to choose between the two, then added to that a completely new free portal was announced “Houser” which would really put the cat amongst the pigeons.

With such coverage going on regarding property portals the online agent appeared to have been overlooked as a force in the industry, very little over that time had been mentioned about them , is it because they are not seen as sufficiently strong competion to the traditional Estate Agent or Letting Agent? are they seen as not professional enough in comparison to the traditional high street agent? worth noting online agents are allowed on both Rightmove and Zoopla but banned from OnTheMarket, which launches on Monday.

There are certain entrepreneurs with vision who see the online agent as being the future for the property sales business, I remember one episode of the Dragons Den when an online estate agency business was presented to the Dragons, no one invested that day but there was a consensus of opinion led by I think Peter Jones that online estate agency was the way forward. More recently HouseSimple has attracted attention from Carphone Warehouse founder Sir Charles Dunstone who appears along with business partner Roger Taylor to have invested £5m into the online agent. They have been mentioned as saying that they like the management and that Britains house seller’s will benefit from big savings in costs with a better experience, they see HouseSimple as being one of the big winners in the online industry. Another big player in the industry is Emoov, they have recently secured another £1.5m in financing via a London venture capital firm, Episode 1, this follows a deal some 12 months back with Spire Ventures, a Mayfair based private equity house. Since the deal with Spire Emoov has expanded its management team with the appointment of chief operating officer Taylor Wescoatt, a former eBay and Time Out product executive, and head of marketing Stephen Jury, who previously worked at Motors.co.uk and Ladbrokes. The Managing partner Simon Murdoch of Episode 1 an early backer of Zoopla is quoted as saying he was drawn to EMoov because it is “obsessed about providing a fantastic service for customers in large markets” and that the agency has “the team, product and customer-centric approach” to succeed. These two online agents have certainly attracted the attention of proven winners in the investment industry and it would appear are well on the road to better days as we move forward into 2015 and beyond, no one can be complacent in the ever changing and improving property selling/buying industry in the UK.

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

You May Also Enjoy

Estate Agent Talk

Demand for project properties soars versus general market

New research from The Property DriveBuy reveals that demand for fixer-upper properties is easily eclipsing overall market demand as homebuyers demonstrate a strong appetite for renovation projects amidst ongoing affordability restrictions due to stubbornly higher mortgage rates and slow but steady house price growth. Across England, there are currently an estimated 601,525 homes listed for…
Read More
Estate Agent Talk

5,600 sellers slash asking price within first 30 days

5,600 home sellers slash asking price within first 30 days of hitting the market, as market stagnates ahead of Autumn Budget The latest research from nationwide cash buying company and quick sale specialists, Springbok Properties, has revealed that as many as 5,559 home sellers have slashed their asking prices within 30 days of entering the…
Read More
Estate Agent Talk

How to Protect Your Property Investment Before You Buy or Sell

Buying or selling property can be one of the biggest financial moves you’ll ever make, which is why protecting that investment should come before anything else. Taking the time to do the right checks and work with the right experts saves you from expensive surprises in the future. Preparation gives you power when it comes…
Read More
Rightmove logo
Breaking News

Market remains resilient, but not strong enough to drive usual Autumn bounce

The average price of property coming to the market for sale rises by 0.3% (+£1,165) this month to £371,422. This is below the ten-year average October bounce of +1.1%, as the decade-high level of property for sale limits seller pricing power The month of September saw a softening of activity year-on-year compared with a strong…
Read More
Breaking News

House prices post second consecutive quarter of growth this year

The latest Property Market Index Review by London lettings and estate agent, Benham and Reeves, has revealed that the property market has continued to demonstrate resilience in 2025, with house prices increasing for a second consecutive quarter in Q2, following four consecutive quarterly increases seen in 2024. The Benham and Reeves Property Market Index Review*…
Read More
Commercial Agent Talk

Reliable Commercial Roofers in Middlesbrough for Quality Roofing Solutions

Any commercial building can only be very safe and last long when it has a very strong roof. With time, the roofing system may be weakened by nature due to weather, similarity in age and structural wear, thereby resulting in expensive repair if not corrected early. This is the reason why you need to employ…
Read More