‘Reliance on Rightmove and Zoopla carries significant risk’, says Paul Smith, CEO of Spicerhaart

Paul Smith, CEO of Spicerhaart and a Non-Executive Director of Agents’ Mutual comments:

OnTheMarket.com launched less than a year ago into a highly competitive marketplace but in this short space of time, the brand has already become familiar to millions of property-seekers across the country. The website was carefully designed to create a search function which was extremely consumer-friendly and even in its first few months, OnTheMarket.com attracted impressive numbers of genuine property-seekers, thanks to a heavyweight and strategic marketing campaign. All the while, support across Britain’s traditional estate agents continues to grow for this 100% agent-owned and agent-controlled portal. It is providing high quality leads to its members and in our own case, OnTheMarket.com provides us with a high level of genuine enquiries from motivated sellers and landlords.

As agents, our reliance on Rightmove and Zoopla carries significant risk to our businesses, livelihoods and our entire industry so it is essential that we take a stand now. We are all guilty of handing over the responsibility for our web leads, traffic and our inventory to the portals and as a result, we have created the duopoly which exists today. We have provided a lot of shareholders with enormous dividends and as our own industry faces increased competition from online players, we cannot afford to hand over any further power to the portals or we will weaken our position and increase their dominance.

Spicerhaart voted with its feet and was proud to back OnTheMarket.com from an early stage. It remains a committed Board member firm of Agents’ Mutual because we want to control our own future. Agents joining OnTheMarket.com have the ability to fix their fees until 2020 and as a mutual without shareholders, OnTheMarket.com will ensure its focus remains on the consumer by providing them with what they need – a simple and well-designed website which displays properties in the best possible light.

Led by an experienced executive team – in whom we have every faith – we believe that OnTheMarket.com will achieve what it set out to do by becoming a genuine alternative to Rightmove for estate agents and consumers. As the portal approaches its first birthday, it’s clear that it has achieved a great deal in just 11 months, so imagine what it can achieve throughout 2016 with its growing levels of support!

You May Also Enjoy

Estate Agent Talk

Homes for sale in UK has reached highest level in eight years – Thoughts from the Industry

Following on from the data from Zoopla the number of homes available for sale in the UK has reached the highest level in eight years. Here are some thoughts from within the property industry. Guy Gittins, Chief Executive of Foxtons, said: “Despite last week’s announcement of a general election, we’ve not seen a dampening of…
Read More
Rightmove logo
Breaking News

Rightmove’s weekly mortgage tracker

Headlines The average 5-year fixed mortgage rate is now 04%, up from 4.63% a year ago The average 2-year fixed mortgage rate is now 41%, up from 4.97% a year ago The average 85% LTV 5-year fixed mortgage rate is now 01%, up from 4.55% a year ago The average 60% LTV 5-year fixed mortgage…
Read More
Breaking News

Highest supply of homes for sale in eight years will keep house prices in check

Zoopla HPI reveals that the UK is currently experiencing the highest supply of homes for sale in eight years, which will keep house prices in check for the rest of 2024, and also predicts that the 4th July General Election will have less impact on the housing market than during previous election periods. Supply of…
Read More
Breaking News

Breaking Property News – 29/05/24

Daily bite-sized proptech and property news in partnership with Proptech-X. Made Snappy 360 says 61% of letting agents omit property measurements from their listings – which NTSELAT now requires  Letting agents across the UK are proactively responding to an update from the National Trading Standards in Estate & Letting Agency (NTSELAT) regarding recommended “material information”…
Read More
Love or Hate Rightmove
Breaking News

Rightmove story: Home-movers undeterred by election

Majority of home-movers undeterred by election New insight among home-movers shows 95% say the upcoming election will not affect their moving plans Rightmove data from previous elections shows that the market remained steady: In 2015, demand from buyers was consistent leading up to the election, and experienced a post-election boost in June when the annual…
Read More
how to present your property for sale
Estate Agent Talk

6 Property Management Marketing Strategies For And Beyond

Did you know that over 70% of individual renters find their new homes on the­ internet? In our current digital e­ra, a sturdy online existence­ isn’t just an extra for property management firms—it’s a critical need. Nonethele­ss, with innumerable property administrators scrambling for visibility, how might your firm gain promine­nce? The solution is a de­tailed…
Read More