OnTheMarket is keeping its powder dry over the possible legal action against it by dissident agents who have formed an action group.
We reported on Friday that the agents - who were awaiting the Competition Appeal Tribunal verdict on the competitive nature of the so-called One Other Portal rule - were now to decide on whether they would pursue legal action concerning their disputes over the portal’s performance and fees.
An OTM spokesperson told Estate Agent Today: “It is not appropriate to make a comment at this time.”
Meanwhile Paul Smith, chief executive of Spicerhaart and a long-standing cheerleader for OnTheMarket, says last week’s decision handed down by the CAT gives an opportunity for the industry to unite and move on.
“This judgement draws a line under this protracted matter and allows Agents Mutual, and its member agencies, to move forward together” he says in a statement.
“Indeed, the judgement confirmed that rather than being anti-competitive, Agents Mutual has had the opposite effect, providing crucial competition to the major portals” he adds.
“This case underlines the need for all proper estate agencies, irrespective of size, to join force in further developing OnTheMarket as a leading portal which works for them and retains the value of listings and fees within the industry.”