A survey of portal usage shows a low level of trust and customer satisfaction from agents, and a majority of agencies saying they will not use the soon-to-launch Boomin.
The survey is small - only 100 agents - but looks at the average monthly fee being paid to the three major portals. This average is currently £1,122, with the highest monthly portal fee surveyed hitting £25,000, although these figures include payment for additional services offered by portals, and not just property listing.
The survey is from Proptech platform WiggyWam and says with regards to Rightmove:
- 2 per cent of agents spend less than £150/month;
- 23 per cent spend £1,000 to £1,499/month;
- 27 per cent spend £1,500 to £1,999/month;
- 24 per cent spend £2,000 to £2,499/month;
- 6 per cent spend more than £5,000/month.
And with regard to Zoopla:
- 2 per cent spend less than £150/month;
- 47 per cent spend £150 to £499/month;
- 40 per cent spend £500 to £999/month;
- 2 per cent spend more than £5,000/month.
And with regard to OnTheMarket:
- 39 per cent spend less than £150/month;
- 51 per cent spend £150 to £499/month;
- 10 per cent spend £500 to £1,000/month.
Wiggywam asked how satisfied agents were with the portal service they receive in exchange for this monthly expenditure. The average scores were:
- 2.8/10 for Zoopla;
- 2.6/10 for OnTheMarket;
- 2.1/10 for Rightmove.
Trust levels also remain low. Agents gave:
- 4.5/10 for Zoopla;
- 3.6/10 for Rightmove;
- 3.2/10 for OnTheMarket.
Some 42 per cent of agents responded to a question by saying portals should cut fees to provide more satisfactory service. Fifty seven per cent of Rightmove’s agent customers report that portal fees were higher in 2020 than they were in 2019. Some 32 per cent said the same about Zoopla, and 18 per cent for OnTheMarket.
When asked about Boomin - the portal from Purplebricks founders Michael and Kenny Bruce - some 55 per cent of agents stated they would avoid working with it.
“With recent news of Rightmove imposing a further 11 per cent hike in fees to agents, the findings of this survey couldn’t be more relevant” says WiggyWam chief executive Silas J Lees.
“The vast disparity of fees being paid by some agents compared to others is striking to say the least. And when considered alongside the dire trust and satisfaction ratings, it does not paint a happy picture for ‘the big three’, showing their customers have very little faith in their businesses.
“It all raises the more curious question of why agents continue to remain with service providers whom they don’t trust? Is it really down to lack of options?
“Or does the ‘once bitten twice shy’ idiom prevail in this situation, a situation where agents believe that the devil you know is a far smaller risk than trying to create a Rightmove 2.0?”