Russell Quirk - whose online agency eMoov is banned from OnTheMarket - says the new portal has indirectly helped onliners rather than hindered them.
“OTM has actually been a godsend for businesses like eMoov and our competitors like Purplebricks, both in terms of our story with investors, ability to raise capital and our story with consumers and the ability to win instructions” says Quirk.
“We now charge less and offer more than many traditional agents, thanks to OTM” he insists.
eMoov, citing Hitwise data, claims that in April (which he admits has been OTM’s most successful month to date), Rightmove had a portal market share of 67 per cent versus 31 per cent for Zoopla and two per cent for OTM.
He also says that on a 12-month average Rightmove gets 87 million visits per month versus 39 million for Zoopla and three million for OTM.
“Marketing on Rightmove and Zoopla, as we do, gives 98 per cent market coverage. This fact seems quite at odds with some of the promises made by OTM as to where they’d be by now” he says. Quirk adds that on the basis on the Hitwise visit data and what he calls “publicly stated marketing spends” it costs Rightmove around 1p for each visit versus 2p for Zoopla and 30p per visit for OTM.
“Assuming the same conversion rate of five per cent for all portals and using publicly stated branch numbers, the cost to an agent for every lead is £2.81 on Rightmove versus £2.33 for Zoopla and £15.27 for OTM” he says.