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TODAY'S OTHER NEWS

OnTheMarket founder Savills ‘no comment’ on future return to Zoopla

Savills says it’s not commenting on whether it will list on Zoopla in the future.

Last week Knight Frank - which in 2018 signed a five year contract to list on OTM - nonetheless has committed to a three month trial of Zoopla for its 21 London branches. 

This news, which broke at the end of last week, came some five years after it issued a statement ‘dropping’ the portal in order to list on OnTheMarket instead. 

This left Savills as the sole surviving agency from those involved in the creation of OnTheMarket not to have returned to Zoopla on either a permanent or trial basis. 

Over the weekend a spokeswoman at Savills told Estate Agent Today that it would not be commenting on the issues.

Back in 2013 Savills joined with Knight Frank, Strutt & Parker, Douglas & Gordeon, Chestertons and Glentree Estates in establishing Agents' Mutual Ltd, which launched OnTheMarket in January 2015. 

Almost all of the founding members and early agency supporters of OTM decided - apparently independently - to drop Zoopla in order to conform with Agents’ Mutual’s ‘one other portal only’ rule. 

In December 2014 Savills’ Paul Jarman stated that Zoopla was Savills’ choice of portal to ‘drop’ because the inquiries from Rightmove were of a higher quality.

By January 2016, a year after OTM’s launch, Jarman said: “We know from our tracking that we receive just as many leads now as we did a year ago when we stopped listing with Zoopla and Primelocation, and more importantly, the leads are of a better quality which is what counts for us and for our clients.”

Late last week Savills’ half year report for the first six months of 2019 revealed that its underlying UK residential profits plunged 44 per cent; it blamed economic and political uncertainty sparked off by Brexit.

The average value of London residential property sold by Savills in the period was down 32 per cent to £2.1m while the average transaction value outside London grew marginally to £1.17m.

Savills share price closed on Friday down slightly at 913p; in January 2018 it reached its highest level of 1,034.00p.

  • icon

    Freebie so why not

  • icon

    While all this goes on, Rightmove just sit there laughing....and putting their prices up.

  • Paul Barrett

    Look it is quite simple.
    If I was looking for somewhere to buy or rent I would look at
    OTM
    RM
    Zoopla
    Plus
    Spareroom

    That is it.

    These are the sites that everyone uses to list or search.
    As long as you are on one of the first 3 that is all you need.. DOESN'T matter which one as those looking know to look at all 3 sites.

  • icon

    It’s part of a plan that lots of agents have got their heads together and are intending on dropping Rightmove many have already handed in notice to leave the intended date is the 31st October they are calling it RMEXIT.

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