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The chief executive and founder of Zoopla says he understands why agents have set up OnTheMarket but he describes the only-one-other-portal policy as irrational promoted by those who think they can put the internet back in its box.

In an exclusive interview for Estate Agent Today - the first he has given to any industry or consumer publication on the subject of OnTheMarket - Alex Chesterman says that until this weekend, the two year journey of setting up Agents' Mutual and its new portal has been of primary interest only to the estate agency industry.

And to be honest, I think OnTheMarket isn't a bad idea. I can completely understand how estate agents are motivated to have more control over their listings and want to exercise some degree of future-proofing for the exposure of their stock says Chesterman.

However, he believes there are clear inconsistencies in the thinking behind the one-other-portal-only policy introduced by the new website.

It's somewhat irrational to fight against other existing portals and restrict advertising. It's just a confusing mixed message.

On the one hand the agents behind Agents' Mutual say portals are so important that agents themselves must take control. On the other hand those same agents say portals are not important enough for their customers' properties to be on all of them. That's contradictory claims Chesterman.

He believes this reflects a misunderstanding by some of how the internet has influenced the estate agency industry in the past 15 years or so.

The internet in general and portals in particular have changed the property landscape - forever he says. The available data, the reach, the time saving and reduction in human resources required by estate agents have all been revolutionary, thanks to the internet.

Chesterman says portals have helped house hunters preview and shortlist properties without time being wasted by agents. Instead house hunters now look at floorplans, maps, scores of photographs, Google Streetview and so many other things online. Life is better for agents as well as the consumer thanks to the internet.

Chesterman insists people want all of those things now - and more - and that agents cannot undo' the expectations of their vendors and buyers who want maximum online exposure of properties on all the available portals. You can't put the internet back in its box as if it hasn't happened.

In terms of those agents who have said that as part of advertising on OnTheMarket they are going to delist from Zoopla, Chesterman admits his portal will take a short term hit.

Ian Springett [chief executive of Agents' Mutual] has been very forthright and transparent in saying he's hoping for 5,000 offices by the launch of OnTheMarket. He may fall short a little but he'll be in that region predicts the Zoopla chief executive.

However, they are not all from Zoopla and PrimeLocation. Some have never been on Zoopla and some others are keeping Zoopla as their other portal. However, there will be a short term effect on us but it's not going to oblige us to change our short or long term activities he says.

It's largely business as usual for us.

Chesterman also says that while until this weekend OnTheMarket has been of interest primarily to the industry, from Monday - when the new portal launches - it will be all about consumers and how to reach them.

Chesterman goes on to discuss Zoopla's marketing spend and how it will evolve in the future. He also offers what many may consider an unexpected response to some new technological developments like the Houser portal which automatically' scrapes listings and other information from across the internet.

His comments on those and other industry developments will be featured in the second part of this exclusive interview, on Estate Agent Today on Monday January 26.

*See more insight and comment on the launch of OnTheMarket in this week's edition of Industry Views, published later today.

Comments

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    Always :)

    • 25 January 2015 09:37 AM
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    Gracious in defeat I see Mr Shinerock.

    • 24 January 2015 21:28 PM
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    Apparently almost all the agents in Bermodsey St in London have joined OTM and have not only regaled their offices with OTM marketing but have have also had swing signs made up especially for the launch! I think this is very considerate of them and it will make the job of touting their properties so much easier for their local internet only agent or the new kid on the block. I have one observation though, it would have been even more effective if they had turned the O of OTM into a bullseye

    • 24 January 2015 16:27 PM
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    Hushtag Harriet Soleat

    My dear the internet is abominable. The man who thought it up was clearly a basher and a scoundrel. It serves no purpose other than to waste the lower classes time looking on that horrendous eeebae for reduced price tosh. Why not just go to Selfridges and buy your corduroy trousers from the men's department, I simply don't understand.

    Rob Davies whoever you may be young man, I am not a troll, nor live under a bridge in Hampstead Garden Suburb, that is a very unsporting this to say.

    Nonetheless, Agents Mutany is a great club, it reminds me of my days in the army, but that is another story. We enjoy having a chinwag about how we are going to rid ourselves of this w w w nonsense and get back to finding out which school these "vendors" go to in order we can select the correct type of customer for our agencies.

    These frightfully distasteful other places where these on-the-line people look for homes are better left for the lower classes. At Agents Mutany we will weed out the chuffs and scalawags and ensure that we only have the best gents on our books, none of this Hampstead Garden Suburb trying to be the Village. Cad's the lot of them.

    • 23 January 2015 18:35 PM
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    The primary concern for everyone should be the consumer. Why would an agent want to limit the level of exposure that their clients property will have by only being able to list it on one other portal Whatever the outcome of OTM, next weeks launch is sure to continue creating waves.

    • 23 January 2015 16:10 PM
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    As far as trolls go, he's one of the better ones.

    • 23 January 2015 16:09 PM
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    I understand and agree that face-to-face meetings and local knowledge is invaluable in the estate agency industry. However I can't fathom how you are able to disregard the internet so flippantly. Where we're positioned in the world today its essential that the buyer can be well informed and see multiple photographs of a property, not merely accepting that you 'know what is good for them.'

    • 23 January 2015 16:02 PM
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    @AgentsMutany I for one find your trolling compelling and hilarious. Most AM supporters on here probably didn't realise you were being facetious though, so sorry for the spoiler.

    • 23 January 2015 15:35 PM
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    I was almost certain you were taking the mickey, but then I saw you live in Hampstead, so the possibility that you are really an internet-hating, Eton educated toff isn't beyond the realms of possibility. Very entertaining either way.

    I agree with you that OTM is a load of old tosh.

    • 23 January 2015 15:35 PM
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    Oh, chuff, what a load of old 'tosh. I have been marketing (besting) properties for 51 years and this whole portal chat is very annoying.

    Why do we need portals at all. I sell all my properties face to face and it's my local knowledge and hard earned sense of what property is right for the buyer, they are usually wrong.

    Without me people will not be able to sell their house. I hand deliver all my mail, have only face to face meetings and dictate all my letter to my girl in the office.

    Nobody needs more than one photograph, it will put buyers off and what do they know about buying a house, what tosh. And if someone tells me my photography is squint and the house isn't staged again I will remind them I know what is good for them and the house is immaculately presented and in move in condition.

    The internet is repulsive. At Eton we did not have computers, we just got on with it.

    At least with Agents Mutany we can all sit together for afternoon tea this time next month and celebrate our success at beating these on-the-line scoundrels.

    I for one will be joining Agents Mutany, sod the home buying public, we deserve a lot of cash for the work we do, and they should be sodding well grateful as I am certainly a pillar of society, who do they think they are, rotters!

    • 23 January 2015 14:35 PM
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    I have over 40 years of experience in the business - which to most anti 'trad agents' probably means I know nothing!
    However, I have never read so much 'guff' being promoted by the anti's.
    Right or wrong, roll on next week.

    • 23 January 2015 13:22 PM
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    Are you all mad

    Get behind this - make it work - ensure the public knows about it, uses it and makes it their portal of choice.

    In time make your own mind up - but give it a chance - you never know!!!!!!!!

    • 23 January 2015 13:18 PM
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    In response to Real Estate Agent, there are many hybrids out there. Who do the valuations, viewings, negotiations and the vendor deals with 1 yes 1 person throughout the whole process. The person who gave the property a market appraisal took the photos, saw the area is the person who will do the viewings. They just don't have a high St presence but do exactly the same if not more. The old style estate agents are reluctant to accept that this model is become more popular and are fighting against it.
    As someone who worked for 20 years in marketing especially on line. It will take at least 20m plus to get anywhere near Zooplas presence let alone Rightmove. And for those OTM agents who stay with RM, all you are doing is giving them a gift to up their prices with you as they know you need them more than ever.

    • 23 January 2015 13:03 PM
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    In some areas Online Only Estate Agents can offer significant
    savings especially if you are paying tens of thousands of pounds in
    fees. However, there is very little they can do compared to a High
    Street Estate Agent. In our area, clients do not pay tens of
    thousands of pounds so the costs savings arent significant and can
    often cost you more as you could obtain a lower price or even lose
    a sale by basically doing it yourself
    Online Only Agents CAN - Advertise your property online. Call you
    to ask you to carry out viewings & Charge you an up-front fee.

    Online Only Agents CANNOT - Sit down with you to explain things
    face to face, Accompany viewings, Hold a key for you, Sell your
    house whilst you are working/away, They dont have local mailing
    lists of waiting buyers, They cant drive a buyer over to your
    property after looking at others, Post sale they cant recommend
    local contractors if there is a problem after a survey, They cant
    hand deliver documents to a local solicitor for you, They cant sit
    down face to face with your buyer to hold the sale together, You cant call into their office to
    speak to the person who valued your property, They dont have a mortgage advisor to
    qualify your buyers face to face.
    If you buy a house just advertised by the seller how do you know it CAN be sold. There may
    be a large mortgage/charge on the property that could prevent a sale completing and you
    may only find this out after spending around 1000 on surveys and solicitors fees etc.
    Technology is vital in todays market, however, the personal/human touch will help you
    achieve a better price for your property you are not just a number!

    • 23 January 2015 12:54 PM
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    Which founding member will be the first to leave I wonder

    • 23 January 2015 12:36 PM
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    I too am a consumer - albeit one who was a Marketing Manager for a large top end property agency for years...some time ago.
    And I've just listed my property with an online agent. The reason Too many inexperienced junior agents showing my property - literally just sitting down and leaving applicants to wander about on their own. Nowadays, agents don't even attempt to match the objectives of the buyer to the property, they just open the front door. They do the least amount possible for their huge fees, and they just aren't worth it any longer now that I don't need their applicant database because I can list to an aggregator via an online agency. With the agents I tried previously on this property (one large chain and one independent) it was the same story - I've got a half million pound flat and a 19 year old agent sitting on my sofa when he should be turning any negatives, pointing out positives, describing the potential for extension etc etc. And the lack of viewings was incredible - thousands of detail views, tens of viewings - because agents use properties as 'bait' to get calls and then push buyers to older listings first.
    I've listed myself, with my own (better) text, my own (better) photography and floorplans and after a week I've got 34 viewings booked - more than the whole three months with high street agents.
    OntheMarket is just the agents ganging up to try and stop the unpalatable facts - we don't need you as you are. We don't need your data sets of applicants, as they will come straight to us via the internet. We can sell our own homes better than any of your lazy staff, and we actually care what happens next, not just about commission. Don't get me wrong, when it gets to the high end, you need an experienced, dedicated agent to help with multi-million pound investments, but for the general consumer market at least, Estate Agency as we know it is dead. Change your business model or prepare to wither and die.

    • 23 January 2015 12:20 PM
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    The Luddites were 19th-century English textile artisans who protested against newly developed labour-replacing machinery from 1811 to 1817. The stocking frames, spinning frames and power looms introduced during the Industrial Revolution threatened to replace the artisans with less-skilled, low-wage labourers, leaving them without work.

    Although the origin of the name Luddite is uncertain, a popular theory is that the movement was named after Ned Ludd, a youth who allegedly smashed two stocking frames in 1779, and whose name had become emblematic of machine destroyers.

    (from Wikipedia)

    • 23 January 2015 11:45 AM
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    General feedback from estate agents seems that the guys on the ground are against AM but its the high level bosses are for it. It seems that it's the bosses/directors are the people taking the companies into AM despite the guys in the front line being against it.

    Why They say that they expect to see big reductions in leads and this will hurt their commissions. But then ask the front line staff why they think the bosses are taking them and they seem motivated to not miss the party and the chance to stick a knife in (so the broad consensus seems).

    Think there's also a big age divide: The internet generation and the pre-internet generation.

    • 23 January 2015 11:41 AM
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    I wonder why Rightmove didn't nip this in the bud 24 months ago and make their member agents agree to an exclusive agreement banning them from using any other portal other than ZPG

    • 23 January 2015 11:33 AM
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    CC- no i'm not a doctor, but I know that every estate agent in my town is involved in more charitable events than any of the other local businesses. Also I never said I was a pillar of the community, I said many agents are. I've met far more estate agents who are proud and active members of their local communities than I have GPs.

    Also, despite almost nodding off during your boring copy and paste response that I've read a billion times before response, I DID in fact book my holiday at a high street travel agent this year, and guess what, the place was packed!

    • 23 January 2015 11:26 AM
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    RedRooster & RealEstateAgent,

    What estate agents don't get is that change is coming. Nobody buys a house as you call them, they buy a house as they find it on Google or Rightmove or Zoopla.

    Gone are the days we (house buying public) all trawl agents websites, we look at the place where all the properties are listed.

    The estate agent gets in the way. Those expensive offices, nice new leased BMW's, high fees. Why Because you make great money, it is easy, and you've had it so good for so long when things start to change for the consumers benefit you try to stop it.

    I don't care about estate agents when selling my house, I want best value for money and not pay for some spotty bloke in a cheap suit to tell everyone my house is immaculately presented or move-in-condition. What is the point. Show me the pics, let me see the info related to house prices and then if I like it I can contact the seller directly and arrange to see it.

    Why does that cost several thousand pounds

    Anyway, I am excited by the changes in the market and next time I sell my house it will be with an online estate agent who by the look of it does the same as you bunch but for a lot less money and attitude.

    Take my advice, listen to your consumer, build a business that takes advantage of the internet and encourage free competition, give great service (you don't have to be in someones house to do this or on the high street) it only makes your business healthier and makes you wealthier.

    And yes RedRooster, the consumer should PAY UP FRONT for your services, that is pretty reasonable and about time it happened. Why should I pay such a high percentage of my property sale Why would you not charge up front Or you do Ebay for homes, small fee up front, fee on sale

    And RedRooster, do YOU really think you make a difference to someone buying, do YOU really do that much work to sell a house, c'mon, let's not make up things now, you're too busy trying to get houses to list.

    Those that don't get it, let them become dinosaurs and you take advantage, it's time you earned your keep.

    Consumer is king, you forget that and you lose.

    • 23 January 2015 11:25 AM
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    #Consumer Champion

    The home buyer and home seller are KING. This is what the estate agents and Agents Mutual are missing. If I want to sell my house I want it on ALL the portals.

    Quite simply, you cant. You can have it on any two of the three main portals RM + Z, RM + OTM, Z + OTM. You need to remember that when you place your property with me to market it is ME who undertakes the cost and judgement as to where and how to market it. I do it do deliver results, not to save money.


    But this is the issue here; the estate agents behind Agents Mutual are afraid of change and want to stop the inevitable progression to Zoopla and RightMove becoming the estate agent. After all that is what the consumer wants, less fees, more choice, better service.

    Incorrect - Agents are [i]driving [/i] this change. And consumers already have the choice. The dreadfully slow adoption of online agents and private sales sites is indisputable proof of this. Similarly, consumers have the choice of servicing and repairing their own cars, central heating, electrics themselves, but the vast majority choose to use a professional. It's amazing, isn't it, how people who are paying nothing up front want it ALL. Out of interest, does this model work in your world Can I digest the work of you and your colleagues and only pay if it gave the result I wanted, resulting in you only receiving your salary when I was satisfied Thought not.

    • 23 January 2015 11:04 AM
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    @Consumer Champion - The Portals Consumers/Customers are the ESTATE AGENTS not the public/YOU - without Estate Agents there would be no portals. Your foot vote will mean nothing :p

    • 23 January 2015 10:59 AM
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    OTM insist no rival portal branding is on any of your material that will have to stop, ok dear where will you get that info now

    Incorrect If you were to read the OTM paperwork PROPERLY you will see that this is not the case.


    If any other 'consumers' look at this forum then ask yourself this, why are agents really doing this Jealousy and greed!

    Incorrect We are doing this to give us more control over how WE spend OUR marketing budget. No agent is going to do this to save 200 per month at the expense of thousands being lost in lost revenue. We are doing it to deliver a BETTER solution.
    One issue that is consistently overlooked in this argument is that of results. Zoopla, for many agents us included generates very few, and very low quality sales leads. It simply does not justify its expense. Rightmove does. I hate Rightmove with a passion, but at least it delivers as a business tool. When we drop Z for OTM we are doing to in order to INCREASE results for clients, NOT to save money or protect our own skins. You may get off on seeing your house (advertised for free for you by the agent) on every web site known to man, but the only measure is leads. If it doesnt deliver, then its going.


    I had 5 valuations done on my house last year, at every one the agent was using RM and Zoopla information that made up nearly the whole of their pitch, as OTM insist no rival portal branding is on any of your material that will have to stop, ok dear where will you get that info now

    Incorrect read the OTM paperwork.
    Incidentally, 5 valuations is far too many. It's this kind of time-wasting that keeps agent fees as high as they are. It never ceases to amaze me that the people (Kings, if you believe Consumer Champion!) who complain about our no-sale no-fee charges are the same people who think our time is free. Get real, you idiot.


    How many times do you walk into an estate agents and all the agents are sat there at their desk, why are you not out selling houses

    If you walk into an estate agents and all the agents are out selling houses, as you seem to want it, your complaint then would be why does this agent [seemingly] not have enough staff You are clearly deluded if you think we do most of our selling when were out of the office. I could, as an experiment, try standing on a street corner to sell them, but Ill guess that sitting in the office on the phone delivers more. I guess journalists are never at their desks, preferring instead to be out at the coal face.


    Its their staff that are ruining it for them by not adhering to their values and unfortunately being lazy

    Having worked in both industries - estate agency and the media I can bet from your statement that you havent. Lazy journalists are far more prevalent than lazy estate agents. Dear Kettle, you're black, all my love TakeNote.

    I am a consumer and any attack on my opinion is attacking your own customers and re-enforcing everything I have said above!

    Incorrect you are a consumer with an axe to grind.


    Take note OTM supporters, you may well have done something that will cripple the industry

    Possibly, but if someone punches me in the face I punch back. The portals have been punching us for far too long. If were going down then I, and around 4,000 others, are willing to fight it for the good of our businesses and our clients.

    To re-iterate, we as agents are moving to OTM to increase results, not to save money.

    • 23 January 2015 10:58 AM
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    Although I get where you're coming from and understand what you're saying, like Zoopla and RM, OTM's clients are actually us agents as we pay the wages.

    And before anyone says, I understand that they need consumers for this to work. This will definitely be the biggest challenge.

    Still not much consumer press from OTM that I have seen Anyone else I hear Springett has done his only interview in the Times B&M today - surely there should be more though with launch on Monday

    • 23 January 2015 10:51 AM
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    DON'T MENTION GOOGLE - As long as the portals keep advertising on TV and driving traffic to their websites who give a sh*t about google and SEO. PORTALS DON'T SELL HOUSES PROPER ESTATE AGENTS DO!!!! If any Estate Agents business model relies solely on portals then they don't deserve to be in business. Apologies if this doesn't relate to the latest comment I have been working!

    • 23 January 2015 10:50 AM
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    Guest (P),

    You're scared, I get it. You don't like change, I get it. You want to keep making money but not do too much to earn it, I get it.

    A few agents I'm sure do a lot to earn their commission, but they need to embrace change not try to stop it. Doing more for consumers hits every industry and this one needs changed for the better, but trying to restrict choice is a 30 year old tactic, old boys network, it won't work, it's too late, change is inevitable. As Chesterman above says you can't put the internet back in the box.

    What you don't get is that just like the travel industry, change is coming. Do you go to a travel agent to book your holiday on the high street, some may, but most book online. Do you place an ad in the newspaper to sell your Mercedes or BMW or do you sell it online Do you use a broker to get your home insurance or do you book it online

    I'm a regular person who sells my home and want the best service. A pillar of the community You're not a doctor.

    This strikes me of fear, afraid of change. Life changes dear I'm afraid and you have to change with it, not hide away and stick your head in the sand.

    The consumer will choose the agents who use the best tools to sell themselves, not line themselves with thousands of pounds and try to stop change which is inevitable.

    Those estate agents that survive wont be the ones who try to hold back the inevitable (who knows if Emoov from reading this site) is doping the right thing, but you can't stop EasyJet if you are BA, and we all know what happened there.

    I read that these guys want to make the next Primelocation. As they sold the last one too quick. Why would these big names, corporates, invest in this It is to further their own interest not the consumers or your own, don't you get it

    Me and my fellow consumers will vote with our feet, we have no allegiance to any portal or agent, we want the best service at the best price in the most convenient way. We'll vote with our feet :p

    • 23 January 2015 10:38 AM
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    Spot on. AM/OTM seem more interested in themselves than their clients - the home buyer or home seller. That seems like a fatal flaw to me.

    • 23 January 2015 10:17 AM
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    They won't be able to compete with Rightmove and Zoopla even if they chuck millions at advertising - SEO for the two big portals is much higher and they are the first port of call for many who are searching for property. That isn't suddenly going to change overnight.

    Outside of the property industry, as I've said many times before, I doubt many people have heard of AM/OTM, whereas many will have heard of RM and Z. That's the biggest difference and one that OTM is unlikely to overcome. I also still maintain that OnTheMarket is a dodgy name.

    • 23 January 2015 10:15 AM
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    Yep, you're right, the proof of the pudding will be in the eating. I've got a feeling it won't taste very nice, though.

    • 23 January 2015 10:10 AM
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    Monday 26th January 2014 Here we go! Here we go! Here we gooooo!
    At last, 'the proof of the pudding will be in the eating'.
    What will all the 'expert' pundits find to do now
    Good luck to you all

    • 23 January 2015 09:55 AM
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    'Consumer Champion', you have clearly never worked for an estate agency. And what is this horses**t about 'embrace it'!! Many of the small independents have spent years of their lives building up a respected and successful business, often becoming (and I hate this phrase as it is over used) pillars of the community.

    Could you please elaborate on how these small agents can 'embrace' this change Is your idea of embracing change for estate agents to just accept the threats facing their businesses and do nothing about it

    I wonder what your job is . . . I imagine your one of these textbook cardboard cut out technology 'experts' who never had the social skills to develop positive relationships with humans and so turned to the internet to live his life, therefore expecting us all to do the same.

    Believe it or not, 97% + of home sellers still sell their homes with an actual estate agent, which says a lot seeing how long the online only model has been around.

    A bit silly really coming on a site which is designed for estate agents and making comments like that. What do you expect the agents to say; "oh well I've spent 20 years building my business from scratch, with hundreds if not thousands of satisfied customers behind me, but yea your right we should just accept that all estate agents are pointless and just shut down our businesses."

    I can already imagine the kinds of phrases you will use in your response. I image the words 'consumer' and 'digital' and '21st century' will be used in abundance.

    • 23 January 2015 09:34 AM
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    The big question is, will OTM spend millions on advertising (first pages of google) like Rightmove and Zoopla do

    While randomly searching for properties on say google or yahoo, if OTM are bit there then the consumer will click into whatever's infront of them - that'll be Rightmove, Zoopla, Gumtree and some big name agents

    • 23 January 2015 09:33 AM
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    What OTM are basically trying to achieve is to save this industry from imploding in on itself.
    Basically, as far as I am concerned, every agent in the land has in effect been under cutting each other, to gain the listing. We have got to a point, where in many towns agents are at .75% then add into the pot the "online agents" (in inverted commas) will effectively private you with a way of basically private advertise your property. Because there is absolutely no way, that any level of personal service can be provided for a fee of say 500.00 up front or otherwise. Even at the greatly reduced fees of .75% compared to fee achieved decades ago, can we all exist. Something has to give. And do you know what. Once this industry has been eroded of choice or destroyed by cheap fee options, the public will do nothing but moan about the crappy service they are receiving. A little like the big 5 utilities suppliers, total dominance, very little choice in truth and absolutely got us by the short & curlys with crap service to boot. This is where I see this industry heading, unless the high street agents take a stance now. This of course doesn't even take into account that the 2 existing portals are forever increasing their rates, which in turn is squeezing our already minimal budgets. Tell me if I am wrong

    • 23 January 2015 08:56 AM
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    Guys, this is starting to feel like the agents who sold Prime for 10m want to do it again and sell it for a lot more.

    Looks like you agents signing up may have been taken for a ride for personal gain.

    • 23 January 2015 08:33 AM
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    The home buyer and home seller are KING. This is what the estate agents and Agents Mutual are missing. If I want to sell my house I want it on ALL the portals. Restricting advertising is just bizarre and strikes of desperation and fear.

    But this is the issue here; the estate agents behind Agents Mutual are afraid of change and want to stop the inevitable progression to Zoopla and RightMove becoming the estate agent. After all that is what the consumer wants, less fees, more choice, better service.

    In the 21st century why do we need an estate agent to take a small fortune for selling our home and what do they do, take some crappy pictures, tell everyone the home is "move in condition", manage a few viewings (if that) and stick the house on a portal.

    Great job estate agent, please take 1% of my property value!

    And spending 500 a month of listing all your properties, bargain of the century. What a tiny amount of money for your main selling tool.

    No the guys behind Agents Mutual may not be thinking about you the agent, they are thinking about their own pockets. Last time when the same guys sold Primelocation for they felt cheated, they didn't make enough. This is what it is about.

    You have to embrace the consumer, do what they demand and rather than try to hold back change, embrace it.

    • 23 January 2015 08:28 AM
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    I have sat by now for some time interested to see how this new platform will effect the market and in my case the consumer. On that subject looking at previous comments let me make one thing quite clear, I am a journalist who works in the industry, I used to work for Yahoo. Not an agent, not a RM/Zoopla 'rep' or anyone with an 'agenda' which makes up the majority of posts on this forum and for that matter PIE. Firstly I completely understand the reason for agents wanting to do this, if any subscription I had put their rates up by 30% each year like RM have on the basis to increase profits I would be angry. I even understand the one other portal rule is probably the only way to try and do this.
    However.....one aspect is clearly missing from nearly every comment on here and one that will in my opinion completely determine the success of this....Google
    By the looks of it approx 5,000 offices have signed up this OTM out of an approx total of 20,000, on the basis RM and Zoopla currently have 1,000,000 properties that means OTM will have approx 250,000 listings at launch. Many of the 20 or so regular people on here who post think this is enough to challenge, how will the consumer know this Agents say they will market it in their shop window...a logo that looks like something kids will want to throw eggs at! Agents will tell the public, direct mail does work occasionally but 90% of flyers are thrown away without being looked at. Will agents knock on the door of every house in their area Marketing...OTM have a fairly good budget for TV and press adverts. Is it prime time TV slots and what happens when it runs out For every 5million spent RM and Zoopla will spend 15million. According to past posts on there Zoopla has spent 100 million in 6 years to get to the number 2 spot! When OTM's money runs out where do they get more from My guess as its 'non for profit' are the member agents.
    Now of this above will get the public to suddenly start using OTM
    Which brings me back to Google, do OTM members believe the website will be on the first page of Google straight away Yes stock will have an influence but Google does not base it just on that. OTM does not have the 3rd party ads, valuation tools etc but these are factors that Google loves and takes into account. The only way I can see OTM growing is by increasing stock, but if its not generating leads how will 'fence sitter' agents decide to join Again previous posts on here have said they know it will not work straight away and its a long term commitment, my question is the same how will it grow
    I had 5 valuations done on my house last year, at every one the agent was using RM and Zoopla information that made up nearly the whole of their pitch, as OTM insist no rival portal branding is on any of your material that will have to stop, ok dear where will you get that info now
    Consumer behaviour, RM have 70million visits a month, Zoopla has 48 million. You can't just change a consumers behaviour in where they look by simply saying 'they'll go where the stock is', again how will the consumer know where to look No doubt someone will reply to this saying we'll tell them, so a consumer will look at RM, Zoopla not find what they're looking for and then contact a local estate agent who will tell them to go to OTM. That for me is the dumbest plan I've heard in years.
    Quite simply OTM will not get the consumer traffic to justify its existence. The first 3 months traffic will be member agents checking their listings and not the public.
    If any other 'consumers' look at this forum then ask yourself this, why are agents really doing this Jealousy and greed! Don't forget KF and Savills used to own part of Primelocation which was sold to the Daily Mail years ago for a few million. Is now part of a comlany worth over 600 million, bitter I would say. How many times do you walk into an estate agents and all the agents are sat there at their desk, why are you not out selling houses I for one will never use an estate agent again, too many 'jack the lads' who know nothing about the industry! Unfortunely those that do know local areas etc are the old boys, the traditional estate agent which is becoming a lost breed, a real shame. Its their staff that are ruining it for them by not adhering to their values and unfortunately being lazy. They may not have traction now but this will fall right into the hands of online agents some of who are already touting OTM members stock.
    I am sure I will get many replies on here from the same regular users, 'are you a RM rep, you know nothing about the industry, are you an online agent, go back to writing etc' Remember this, I am a consumer and any attack on my opinion is attacking your own customers and re-enforcing everything I have said above! Take note OTM supporters, you may well have done aomething that will cripple the industry

    • 23 January 2015 08:24 AM
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    It seems most have forgotten what the client wants and also most will remember the time before the portals and we still sold and let property. The client wants service not agents making more money or saving money. Long live selling and letting property from offices. The portals are important but not the number one for agents. If that was the case no agents would have high street offices. Long live selling from people too.

    • 23 January 2015 07:42 AM
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    ...and 500 a month is probably quite a conservative estimate for he average office across the country.

    • 23 January 2015 07:04 AM
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    Short Term = 4000 offices at an average of 500 = 2m a month or 24m a year.
    Seems like a pretty big hit to me.

    • 23 January 2015 06:57 AM
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    Just a quick question. Why do we (agents) think we don't have control over our listings. We put them on. We take them off. We premium list them. We can change the photos. We can change the text. What more control do you want without creating extra work for ourselves.

    • 23 January 2015 06:32 AM
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    In translation...."I don't agree with the one other portal policy because it means agents have won and been able to gain back control of their listings".

    • 23 January 2015 00:12 AM
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