‘OnTheMarket.com will go from strength to strength’, says Knight Frank’s Noel Flint

The Board Directors of Agents’ Mutual have reaffirmed that they have every confidence in OnTheMarket.com as the portal approaches its one year anniversary on January 26, 2016.

In the first of a series of comments from the Directors representing estate agency firms on the Board, Noel Flint, Partner, Head of London Residential at Knight Frank, said he believed OnTheMarket.com had already created a significant change within the portals market in a way no other recent market entrant had done.

He said: “The reality is that the portal is working and we have every confidence that it will continue to grow. As more agents recognise the strategic importance of regaining control of their data and costs and as they see the strategic opportunity to serve their clients and property-seekers better with their own portal, we believe that OnTheMarket.com will go from strength to strength.”

He added: “In our view, as a mutual, the venture is uniquely placed to achieve a huge step forward for traditional estate agency. OnTheMarket.com is injecting some much needed competition into what had become a rather staid arena, dominated by two giants whose main focus was the creation of enormous profit margins.”

Knight Frank was one of the Board member firms which chose to retain Rightmove and removed its properties from Zoopla/PrimeLocation.

Mr Flint maintained that OnTheMarket.com was providing Knight Frank’s offices with high-quality leads and their volume was steadily growing.

“We chose to retain Rightmove rather than Zoopla/PrimeLocation as our ‘other portal’, a decision which was later echoed by most of the members and which has left Zoopla and PrimeLocation with much lower property stock, not least at the high end where Knight Frank operates,” he said.

“Our clients like the portal and I don’t believe we are experiencing any loss of business since removing our properties from Zoopla and PrimeLocation to join OnTheMarket.com,” he added.

The Board member firms of Agents’ Mutual are Chestertons, Douglas & Gordon, Glentree, Knight Frank, KFH, Savills, Strutt & Parker and Spicerhaart.

Every estate or letting agent firm which lists properties with it becomes a member of the company and has an equal interest in it. One firm = one member = one vote, irrespective of the number of offices a firm has.

Noel Flint’s comment can be read in full below.

Noel Flint, Partner, Head of London Residential, at Knight Frank and a Non-Executive Director of Agents’ Mutual

At Knight Frank we attach great importance to strategic long-term thinking and we are proud to have been one of the driving forces behind the formation of Agents’ Mutual and the creation of OnTheMarket.com.

In our view, as a mutual, the venture is uniquely placed to achieve a huge step forward for traditional estate agency. OnTheMarket.com is injecting some much needed competition into what had become a rather staid arena, dominated by two giants whose main focus was the creation of enormous profit margins. OnTheMarket.com has already caused a significant sea-change within the portals market in a way that no other recent market entrant has done. We chose to retain Rightmove rather than Zoopla/PrimeLocation as our “other portal”, a decision which was later echoed by most of the members and which has left Zoopla and PrimeLocation with much lower property stock, not least at the high end where Knight Frank operates.

Ian Springett’s team has delivered a fast and beautifully designed website for consumers where house-hunting is now a pleasure and where there are many new and exclusive properties. Knight Frank is one of many agents who put newly launched properties on OnTheMarket.com 24 to 48 hours in advance of advertising them on any other portal. We feel this gives the most motivated property-seekers an extra reason to search OnTheMarket.com and to create a property alert to be first to see these properties. We have been impressed by the traffic figures and by the healthy mix of new and returning visitors. There is no doubt OnTheMarket.com is a ‘must-view’ destination for serious property-seekers.

OnTheMarket.com is providing Knight Frank’s offices with high-quality leads and we have seen their volume steadily growing. Our clients like the portal and I don’t believe we are experiencing any loss of business since removing our properties from Zoopla and PrimeLocation to join OnTheMarket.com. It is of course frustrating to read the numerous inaccurate claims levelled against OnTheMarket.com, usually from people who have a vested interest in trying to halt its rise in the market place. In truth, the fact that they go to such lengths is a reflection of the strength of the threat that OnTheMarket.com presents to their portal or business. The reality is that the portal is working and we have every confidence that it will continue to grow. As more agents recognise the strategic importance of regaining control of their data and costs and as they see the strategic opportunity to serve their clients and property-seekers better with their own portal, we believe that OnTheMarket.com will go from strength to strength.

You May Also Enjoy

Breaking News

BREAKING PROPERTY NEWS – 18/05/2022

Daily bite-sized proptech and property news in partnership with Proptech-X.   MyIdentity selects Armalytix to create a proof-of-wealth solution for the property market Armalytix, the open banking technology platform which streamlines the collection of data for the professional and financial services industries, has been selected to be an attribute provider for the government-backed MyIdentity scheme,…
Read More
Software & Tech

The Future Of Healthcare Technology

As researchers, innovators and legislators work to improve access, effectiveness, cost, and accessibility of healthcare, the future of healthcare technology is in flux. Healthcare innovation is a key battle in the fight for human longevity. Here we will discuss the leading medical technologies in HIE software that are leading the way towards a brighter future.…
Read More
5 Great Property Management Software in the UK
Letting Agent Talk

Five of the Best Property Management Software for Landlords

Being a successful landlord requires a good relationship with your tenant, ultimately you want your property to be treated well, get paid on time and build long term relationships. Management of property has come a long way in recent years especially since the internet and certainly thanks to management software and apps. Today there are…
Read More
how to present your property for sale
Letting Agent Talk

LETTING AGENTS AND LANDLORDS FACING SURGE IN DISREPAIR CLAIMS

Recent research reveals there has been an exponential rise in disrepair claims over the past five years, with more than £55.1m paid out across 70 English councils that own their own stock. (Source: Inside Housing, February 2022). Legal costs nearly doubled between 2017-18 and 2020-2021, while the number of cases increased by 132%. Of the…
Read More
Breaking News

BREAKING PROPERTY NEWS – 17/05/2022

Daily bite-sized proptech and property news in partnership with Proptech-X.   PRESS RELEASE: BriefYourMarket partnerships take lead generation to next level Generating and nurturing leads is the backbone of estate agency. According to Richard Combellack, Chief Commercial Officer at BriefYourMarket, this is exactly what BriefYourMarket is about, finding and nurturing new leads via a variety…
Read More
Home and Living

5 Gas Safety Tips to Keep You Safe at Home

Houses with safety hazards are not desirable, since they endanger the lives of their occupants. The value of your home diminishes if you’re your house and property are damaged, including gas appliances. Therefore, all owners, landlords, and tenants have a responsibility to have the appliances they own tested for functionality. Check all of your household…
Read More