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Andrew Goldthorpe
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Andrew Goldthorpe
Hi Marcus It is down to what agents consider the right price. Is giving data gratis to a "free" portal the right price? What happens to that data when the advertisers and investors of that portal want to cash out? Most exit strategies for non-impact investment are of the order of three years. PropertyMutual curates and silos our agent's data in our data lake so that it cannot be exploited by unauthorised third parties. What about the investors in Agents' Mutual who signed five year contracts on the promise that they would never pay more than newcomers? What about the de-mutualisation and all the other broken promises, the cash burn and the increasing likelihood that more cash will need to be raised? This is why I believe the industry is looking at RMv2. OTM is on exactly the same journey. A legitimate mutual cannot and will not make rash promises and raise funds from any outside source as that would immediately de-legitimise the mutuality. That is why we grow organically, without locking agents into five year contracts at high subscriptions, burning through their cash, and then having to say "sorry, we ran out of money again". So is our current inventory growth subscription of £10 per month per office, the equivalent to a cup of coffee a week, the right price, the right investment in your future? The math, and our transparent staged subscriptions based on member numbers, suggests that if the industry would adopt PropertyMutual en-masse, the "right" solution to raising sufficient funds, entirely independently, on an annually recurring basis is in the industry's hands right now. Finally, PropertyMutual is a member of Social Enterprise UK and has a charitable assignment condition meaning we cannot be sold to profit individuals. We therefore trust that our ethics and credentials speak for themselves and are sufficient motivation for agents to subscribe, in the realisation that there is a better way to run a property marketing platform.

From: Andrew Goldthorpe 19 November 2019 11:27 AM

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