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Tim Hammond

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I mean, surely with the amount of money invested by agents OTM would have played out the likely scenarios and the effect to the homebuyer and seller by insisting that agents remove their stock from one or other of the already well known portals? Surely?

From: Tim Hammond 31 October 2015 14:38 PM

I suggest we await OTM's response - no doubt they have stats of their own! Surely they did some market research with homebuyers before launching?

From: Tim Hammond 31 October 2015 14:28 PM

Really? well that's still a section of buyers then. Why rule them out?

From: Tim Hammond 31 October 2015 13:39 PM

But John is actually a mover as he is my brother in law - and this is a real life case where Z have just 5 listings compared to RM's 11 for his price range, but where the 5 are not suitable for his criteria. I've spoken to him and suggested he looks on RM as well as there appears to be 8 unique properties not shown on Z. (I've also suggested he looks at OTM's 3 listings). So a bit chaotic for a would be buyer and seller! Let's as an industry not be so blinkered in thinking there is such a thing as an average buyer. And let's stop making it more difficult for them in a world where other market sectors are making things more streamlined and customer (in this case buyer) focused.

From: Tim Hammond 31 October 2015 13:11 PM

We know from the Nielsen research that 80% of buyers only use one portal ! You are making assumptions that every buyer has loads of time on his hands to do physical searching, at a time when the vast majority of people conduct their searches online. Even if just 'these people' who are not as you say 'serious' fall away from the market it will be a factor in a decline in transactions! Remember that most prospective buyers are prospective sellers too !

From: Tim Hammond 31 October 2015 10:35 AM

OK so lets look at it from the position of a prospective buyer (John) John sees a bus advert for Z and starts his search on that portal. Lets say John wants to move for job reasons from his current home in Swindon to a new property near work in Reading. He uses Z to look at agents and their properties, and not being local he is not to know that several Reading agents do not list on Z as they have moved to OTM. He does some viewings but doesn't find what he wants. His 'impression' is there is not much around at the moment so being busy with his new job he delays his search until the new year and consequently doesn't list his own property for sale in Swindon until January. (He can commute on the M4 until then). No-one told him that if he used Z he would 'also' need to look at OTM to find the rest of the listings in Reading. Likewise he might have done better looking at R but he would still not cover the whole of the market. At a time of low stock anyway, having it dispersed across portals doesn't help and no-one thought about sticking a big advert on Z to tell buyers that they also had to look at OTM !

From: Tim Hammond 31 October 2015 10:25 AM

Smile Please - take time to look at the possible cause and effect of buyers maintaining their use of just one portal to search for properties (Nielsen stats), whilst at the same time the OTM 'one other portal rule' causing less stock to be duplicated across RM and Z and you'll appreciate that the buyer is not seeing as many properties as before to potentially view, make offers on and buy. It is a factor, not the only factor for decline - but can't be ruled out and is definitely not bonkers ! We're all on the same side here ! We want to maximise the opportunities for buyer enquiries and not reduce them - and I'm afraid the one other portal rule has played its part in reducing them!

From: Tim Hammond 31 October 2015 09:48 AM

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