The Agents Mutual portal has announced that it is to be called On The Market when it launches in 2015.
Although the Agents' Mutual website this morning still bears the old name, the announcement by the firm - made online - also says the portal has purchased both the .co.uk and .com internet domain names.
As is the norm for a new site launch, it has also purchased type-alike' names - misspelt versions of the title.
Chief executive Ian Springett says an announcement will be made shortly on who will handle the portal's public relations; they are currently managed in an ad hoc fashion by agents and staff from two of its six founding companies, Knight Frank and Douglas & Gordon. No details have been given of the new portal's advertising budget or programme.
On The Market will seek to challenge the existing portals, Zoopla and Rightmove, when it launches in January 2015.
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Comments
This post is worthy of appreciation, looking forward to more exciting!
AM say by only allowing one other portal they will disrupt the market
Dead right they will - for Joe Public who will now have to search on THREE portals instead of one to see all available property.
I guarantee that statement on disrupting the market will come back to haunt AM potentially on a scale to rival Gerald Ratner's prawn sandwich gaffe.
Once the press realise that greedy EA's are spoiling the search experience for JP to save a couple of hundred quid a branch when they charge 1000's to sell a home the proverbial smelly stuff will hit the fan.
Just wait and see.
On The Market great name for a new BBC show modern day bargin hunt show or even a soap opera following the daily life of a market.
Maybe even a docudrama about estate agents and property sales!!!
Property site name though no its up there with Tepilo and notestateagents to name a few askthehomesearch got persecuted on this site a few years ago for the choice of name when it tried to launch a portal along with the property channel on Sky platform.
Agents mutual has so many unanswered questions and restrictive business practises such as restricting agents advertising channels on other portals. What happens when you list via agents mutual and your press advert includes listings on the papers property portal as part of the advertising does that mean you can no longer advertise via zoopla or rightmove. Indeed if you list on zoopla and get primlocation included that is in effect 2 portals there. I think any external business putting restrictions on how you operate your business and asking for money from you for the privilege of restricting your business marketing activity should be told were to get off without any polite methods been used to convey that message to them.
If your local paper said the same to you if you list your property with them i am sure most agents would soon tell the papers were to get off.
I must state at the start I am all for anything that could break the duopoly of RM and Zoo, but is this not just a death nail for RM as listing on Zoopla eventually gets your listing onto the remaining web sights like Prime location find a property etc, as an agent Zoopla gives so much information to the buyers and normally unquantified values and post code centric pricing formulas! I prefer RM but may have to chose to use Zoopla as also includes other sights as part of the listing, if AM or OTM fails post a couple of years of trading are we just passing power to Zoopla who unfortunately will be the better option
Do a Google search for "On the market" and the related searches are all about tablets, laptops, phones and TVs. Take a look at Google Trends and it's a similar situation - everyone looking for techy things rather than homes or property.
The name is OK but to anyone outside of property doesn't necessarily mean property springs to mind straight away.
On the Market... Are the Meerkats getting into property
From Agent Mutuals site:
'Thats why Agents Mutuals plan is based on member agents committing to drop one of the two major portals and transfer their listings and fees to
Agents Mutual . This way, we can disrupt the market, becoming stronger at the competitions expense'
So this means a participating agent can advertise on ALL other sites with the exception that only ONE - RM or Z is used
Please clarify.
I've just had a phone call with them, whatever they are going to call themselves. Their marketing material is misleading. This states that you have a commitment to drop just one of the two major portals. THIS IS WRONG. You can ONLY advertise on AM, your own website and ONE other portal, whoever they are. Agent's are unaware of this.
The names and domain names:
OnTheMarket
OnTheMarket.co.uk
OnTheMarket.uk
OnTheMarket.com
are owned by Vespa Capital Partners Ltd, Ian Springett being the 'IPO representative name' for this owner. Is it fair to consider there are some discretionary funders behind this venture other than the participating agents
http://www.ipo.gov.uk/tmcase/Results/1/UK00003059865
http://www.vespacapital.com/vespacapital.html
Can anyone say what the USP is for this name, because that is what is needed to immediately compete with RM - who were in first(ish) and are well established.
I think it's fairly obvious that the name is a winner it's also fairly obvious that this website has now become the home of all those anti Agents Mutual/onthemarket people out there.
Fair enough, but to say that the name is crap etc is just plain silly, everyone including the consumer will realise that the name relates to property.
I'm not sure why people are reacting so strongly against the name. I've got several agent friends and they've told me they are no longer going to support agents mutual due to the name! Madness.
However, I would say I'm not a fan of the name. The difference with Zoopla is that it's name means nothing, and therefore is a blank slate to market it/associate it with whatever they want (just like Google).
I hate to say it, as I'm a man of AM, but On The Market is clearly something thought up by estate agents. The name will resonate well with vendors and landlords, the target market for an agency, but not to consumers. This is where AM has made an error - they need to appeal to a different market to what an agency normally attempts to appeal to.
With all due respect you missed this one Mr Springett...
http://www.placeonthemarket.co.uk
With all due respect you missed this one Mr Springett...
www.placeonthemarket.co.uk
Crap name Can't get much worse than "Zoopla" and they've had no problem. Good luck to On the Market. It says what it is and if you questioned anyone in the street about what the phrase "on the market" means to them, 90% would say houses.
Wow, it's like reading the daily mail comments section. People are saying that On The Market won't being immediately associated with property, Zoopla! Give it a rest.
On The Market is a good name, not great, but neither are Rightmove or Zoopla. It will work.
On the Market Why didn't they just call themselves 'On the Sideline' - because that's where they're going to stay with a name like that.
It cannot be 'given a try'. The name is the most important and should be instantly relevant and memorable to exactly what one is promoting. There is just one chance to get this right.
Hope the portal is successful - but it will have to start off running to dent the established big two. Participating agents must fully promote it in house and out - no half measures .
Crap name or not, the new portal is definitely causing concern to its rivals as Zoopla are currently asking all of its members to sign up to a 17 month contract under the guise of freezing our rates over that period which they are saying will be doing us a favour. Clearly they are concerned that members are going to leave in drones once 'On The Market' launches. I hope that 'On the market' succeeds where clearly others have failed so that it will at least give us agents a bargaining chip to get Rightmove to bring their pricing structure down in line with the other portals.
Good choice in name! Think you can do a lot of marketing around it, Watching this unfold with interest!
Should have spent a few thousand to acquire property.co.uk and run it from there.
@Luke - its an OK name, but I wouldnt automatically associate On the Market with property. It could be anything putting a house on the market, a business, an eBay item. People might even think its something to do with an online version of a traditional market. Its too vague, its not immediately obvious what the service offers.
Rightmove and Zoopla, whatever you think of them, are now very recognisable brands people know what they represent. The names are also succinct, snappy and roll of the tongue. I dont think On the Market does, and I think itll have to do a lot of work to establish itself in the way the other two portals have.
I like it. As names go it is relevant, memorable and has a search advantage.
I like it, think it will work well on Google searches and for SEO etc
It's a great name and a totally relevant phrase to anyone searching for a property that is 'on the market'. Why the nastiness and negativity or is it just fear
Having said that I do hope it is successful.
'On the Market' for WHAT Cornflakes
'Chief executive Ian Springett says an announcement will be made shortly on who will handle the portals public relations; they are currently managed in an ad hoc fashion by agents and staff from two of its six founding companies......'
Should not a specialist marketing company have been appointed before a decision about selecting a name It is not too late.
Agents Mutual would have been more sensible having promoted the name since inception to have used just that. On the market!!! Which market
On the contrary, I think it's an inspired choice. Looking forward to it.
Why would you not want to give this a try Do you like paying huge amounts to RM and Zoopla
All we need to do is turn these two off town by town. Really.
Great name!
Doesn't everyone put their house 'On the market'
On the contrary, its an incredibly simple, relevant name and easy to see a brand being built behind it.
One the MEERKAT
'OnTheMarket' A highly memorable name - NOT. What a waste of an opportunity.
.....WHAT A CRAP NAME!!!!!
Rightmove's and Zoopla's shareholders can rest easy in their beds!!!
Ian Springett is an IDIOT!!