Online estate agency head Russell Quirk has written to the heads of many of the estate agencies involved in the creation and running of OnTheMarket to ask what, if anything, they have done to explain to their clients about the effect of dropping a major portal.
Agents' Mutual - the firm behind OnTheMarket, which launches on January 26 - insists that agencies signing up to the new portal must advertise their properties on no more than one other major portal. This means most will drop either Rightmove or Zoopla in favour of the smaller OnTheMarket.
Quirk, founder of eMoov, has been an outspoken critic of OnTheMarket, which bans online estate agents.
He has complained about the ban to the Competition and Markets Authority and has questioned how the National Association of Estate Agents can support the new portal given its ban on a growing number of online agents, themselves in the NAEA.
Now Quirk has written to some of the major figures behind the new website, insisting their customers have a right to know of their decision to drop a major portal; he has told Estate Agent Today that customers of the agents concerned need to make a decision of whether they remain with that agent.
The Home Onwers' Alliance, a pressure group acting for owner-occupiers, has recently issued a statement saying OnTheMarket restricts the number of potential buyers homeowners can market their house to. This in turn will impact the speed of sale, and getting the right price. Another rotten deal for home owners that lines estate agents' pockets.
How Quirk has taken up this theme, writing to Paul Smith of Spicerhaart, Michael Fiddes of Strutt & Parker, Jeremy Helsby of Savills, Noel Flint of Knight Frank, Andrew Richardson of Jackson-Stops & Staff and George Franks of London agency Douglas & Gordon.
Estate Agent Today has seen one of the letters, to Paul Smith, part of which reads:
Dear Paul
You have recently taken the decision to dispense with either Rightmove or Zoopla to comply with the requirements of the new OnTheMarket.com' property portal, which you have committed to signing up to. It seems that this will take effect from 28th January at the latest as this is when the OnTheMarket.com website launches.
What this means to your current clients is that they, initally for sure, will have only approximately half the advertising coverage that they previously would have benefitted from as between them, Rightmove and Zoopla currently deliver around 80m enquiries to their subscribing agents each year whereas OnTheMarket will start from zero. ....
Have you formally informed your clients that you have dropped Rightmove or Zoopla and have you explained that this will result in an immediate loss of coverage amongst potential buyers
In any event my (and no doubt that of your customers) follow up question would be whether, as a consequence of this significant alteration to your advertising, you will be releasing those that are signed up to sole agency agreements with you
Of course your approach is a matter for you and your business entirely, I understand that. But the consumer has a right to know that you have so drastically altered your marketing approach. ....
I look forward to your reply and trust that you will indeed rise to the challenge of being honest with your present and future customers on this important matter.
Yours sincerely
Russell Quirk
Founder & Chief Executive
eMoov.co.uk
Press comment in the New Year suggested one of the Agents' Mutual founders, Savills, had written to clients explaining its decision on OnTheMarket but an agency spokeswoman told Estate Agent Today over the weekend that no letter has been sent yet.
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Comments
we are a market leading firm with over 20 branches we have NEVER advertised on Zoopla - despite all out competitors doing so - we dont lose business because of it and conversley save a significant saving on portal fees that we can and do invest elsewhere - according our clients dont lose out by not being on Zoopla they benefit and so do we - Quirks self interest is all too evident and writing to agents and expecting them to justify themselves is pathetic.
Clearly this is anticompetitive behaviour
Quirk is also right
OTM starts from a zero base.
No Consumer customer awareness.
How can this be a good result for a vendor
Would be interesting to see some recently audited portal visitor data... Would be great if instead of the industry deciding who gets to advertise in what place by way of instigating/seeking to limit use of competitive portals... Agents could actually give a choice to vendors who could be charged according to how wide (or not) they want to market their property. Surely what is enevitable is better niche websites for specific needs: within M25; above/below certain price; apartments etc.. It is not just about the quantity of portal visitors, but the quality (the relevance of the stock to their buying needs), drive up the quality of visitor and the cost to market goes down (only need to be in one place not ten). My two-penneth.
Opinionated Digital Marketing Person
Does everyone know what they are doing Looking at some of the agents who have dropped other portals its strange they still advertise them on their websites.
Russell - on behalf of agents everywhere - shut up. We really know what we are doing. I assure you all non OTM agents will ensure that every customer knows and every OTM ahent will explain their rationale. We don't need you generating insincere self serving PR just because OTM don't want you as a BFF.
EXCLUSIVE - Axe to grind by Graham Norwood.
Not sure what it has got to do with Russell Quirke, apart from the fact he likes to be in the limelight constantly. Portal marketing is only one of many ways a good agency promotes properties - database of registered applicants, social media, walk in buyers, local leaflet drops unlike online agencies who rely exclusively on portals.
Russell Quirk what a prat. Stop trying to tell other agency bosses how to run their businesses and concentrate on running yours. You are a little fish in a big pond and since forming the company have not really grown in any way shape or form
Russell Quirk acting as a mouthpiece for the industry again That didn't take long. 2015 set to be the same as 2014.
Waste of time Russell (other than for pr.), it is vendors you should be telling, not agency bosses.