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Written by rosalind renshaw

Agents’ Mutual has smashed its target of recruiting 1,000 Gold member offices, with the figure having now passed 1,750.

Gold agents are major investors in the enterprise, promising to give six years of support.

Ian Springett, chief executive, said: “This level of support, and the quality of the firms signed up, gives us a very strong financial and membership base from which to develop the new portal.”

The closing date for Gold membership is now just days away – December 20.

In order to avoid possible postal delays, the company will accept scanned copies of the completed and signed Letters of Intent emailed to info@agentsmutual.co.uk

Gold members, like Silver members, must commit to listing on Agents’ Mutual’s new (and as yet un-named portal) for the first five years. They also pay a 12-month pre-launch subscription and subscribe £3,000 per office in loan notes, earning them 15% annual interest.

https://meetings.agentsmutual.co.uk/2013-11-17_gold_last_call/INFORMATION%20MEMORANDUM.pdf

Comments

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    @MD

    Youve obviously got more money than sense. By the time AM launches all its secrets will be out there.

    Today Ive got more chance letting a home on a postcard i a shop window. As AM havent got a property website.

    Give your £10k to a charity. At least it would do some good. Give it to AM and its simply another PropertyLive style flop

    • 13 December 2013 09:43 AM
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    Added by @Hound, boring & happy chap on 2013-12-12 13:42:07

    Not getting desperate at all! You say that no-one is buying the line about initial marketing budget any more, but if you read some of the posts below, you'll see that in fact, some are!

    I'll make the point again, we pay the people we advertise with to promote us, we don't pay them so we can promote them!

    as "AM highly doubtful" rightly points out, potential vendors are not exactly going to be blown away by the fact that you're going to list their property on a website that no-one has heard of, and because of that, not list it on one they have!

    • 12 December 2013 14:34 PM
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    It is quite clear to see those either affiliated to/working for another portal or an online agent.

    • 12 December 2013 13:45 PM
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    Your getting a bit desperate now i'm afraid. No one is buying the line about initial marketing budget anymore. And clearly no one is being scared away, nice try though.

    • 12 December 2013 13:42 PM
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    I love reading about this . Do you really think that Joe Punter cares, here is the most important point about agents mutual that everyone seems to be sweeping under the carpet , make yourself a cup of tea Springett , sit down and consider......people who bring there home to market want to sell it...not in three years ...not when you get your website up and running ....not when they haven't heard of you ....NOW

    I'm looking forward to the agents mutual supporter pitch, " I know that instructions are tight in my area so I really need to sell your house"
    "I see you don't use one of the major portals that I've heard of"
    "i use another yet un-named portal thats being built As we speak in three years time it could be massive and I'll have saved myself some money"
    " Fantastic,so you will cheaper than your competition by passing those savings to me ,your customer"
    "erm"
    " Doors on the left "

    The business plan belongs about level three in inception ....

    • 12 December 2013 10:55 AM
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    I wish AM every success as I do all portals trying to break into this market.

    The more successful portals there are the more the industry can loosen the tight grip that RM and Z have on it and by doing that they will be weakened.

    The more this can be done through 1 portal or dozens of portals will only be of benefit.

    Its how it can be done is the big question.

    • 12 December 2013 10:22 AM
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    @PropertyPro - You say you have attended a couple of meetings and it's all doomed to failure, but you don't really explain why. Can you provide more detail? The way I see it, the people behind Agents' Mutual have spent a tremendous amount of time coming up with a business plan to succeed. I also see that a lot of well-respected names in our industry have spent much time considering this business plan, and then decided to support it.

    For several years there have been many posts on this website slating the never-ending price increases of the main portals, yet when there finally looks like being some real competition to those portals, from people who are on our side, I read so much negativity about the competition. Why? What harm can it do anyone? Surely, it can only do us good?

    Already just this week we are reading news of Zoopla adapting their policy/rules in light of Agents' Mutual. So in my book, Agents' Mutual have already done us a service.

    • 11 December 2013 14:28 PM
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    @ MCS (Master of Commmon Sense)

    "Not so! Some yes, but not as much as you suggest." I didn't actually suggest anything, but primetime aint cheap!

    Ok, I'm well aware that RM started as an exclusive club for the corporates, so they of course did promote it to a degree, what I'm actually talking about here is when they changed tack two years later and wanted to get everyone on board, away they went.

    I recall there was a lot of hesitation from independents to sign up at the time, given the corporate ownership of Rightmove, but as potential vendors started asking 'are you on rightmove' one by one, everyone signed up, Why did vendors start asking, Oh yes, that would be Rightmove's advertising campaign.

    • 11 December 2013 14:26 PM
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    @ Hound on 2013-12-11 12:22:11

    "When Rightmove launched, there were the TV adverts, night after night after night, primetime TV, so yes, they did spend."

    Not so! Some yes, but not as much as you suggest.
    See: M on 2013-12-11 12:50:53. It was mainly the agents themselves to start with, using the material supplied by RM. I was one of them.

    • 11 December 2013 13:47 PM
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    Having now attended 2 of Ian Springetts presentations, I can state with certainty that Agents Mutual is the worst thought through business idea I have seen in 30 years and doomed to failure. Its reliance on fear-mongering and spreading nonsense about portals (whom I have no love for but equally no hatred) is just the start. And 5% of agents signing up after all these fears and lies are spread is hardly a resounding success Mr Springett! A digital strategy for the industry being led by the likes of Mr Flint at Knight Frank (whom I know and respect in some areas but not digital marketing!) would be funny if it wasn't so ridiculous. The first batch of cheques being written for this farce is just that - the first of many. This is going to be a very expensive lesson to those who participate in more ways than one.

    • 11 December 2013 13:44 PM
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    I've heard it said that RM spent exactly £0.00 on advertising themselves to the public during their first two years of existence. They didn't need to; estate and letting agents did all the advertising and promoting for them, free of charge.

    Without properties and agent support, a portal is nothing.

    • 11 December 2013 12:50 PM
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    This is just a letter of intent. Anyone can sign this, lets wait and see what happens when they come round asking for money.

    If I said, "are you fed up of rightmove and zoopla and their prices, would you like an alternative?" of course people would sign a letter.

    Until they collect the money and release intent about their marketing I'm out.

    • 11 December 2013 12:47 PM
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    @ MCS (Master of Commmon Sense)

    I would expect any agent to publicise any advertising media they use and pay for.

    You are approaching this from completely the wrong angle. We pay advertisers to promote us, we don't pay them for the privilege of promoting them!

    When Rightmove launched, there were the TV adverts, night after night after night, primetime TV, so yes, they did spend.

    Go out on your next valuation and tell the potential vendor you're going to market their property on a website they have never heard of, and see their reaction. At the time agents started talking to potential vendors about Rightmove, it was almost certain that they would have seen the TV campaign. It was that which sold Rightmove to the public, not agents!

    • 11 December 2013 12:22 PM
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    @ Hound on 2013-12-11 10:32:08

    It was the AGENTS who initially made RM a success - and they did it almost for free! Yes, RM did spend but not the millions suggested. This would seem to be the only chance for agents to remain reasonably independent or submit to being always controlled by a portal that you have no stake in - except to feed and obey it!

    • 11 December 2013 11:31 AM
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    @ MCS (Master of Commmon Sense)

    For it to be a success, It will need to catch the public imagination long before they see it on agents business cards and in their offices. Remember Ian Wright?

    The object of a property portal is to drive business to agents, not the other way round! That's why we pay them!

    So unless AM can match the advertising spend of RM and Zoopla, it will go the same way as other portals that could not.

    • 11 December 2013 10:32 AM
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    So negative. How many agents are complaining about their annual rate rises with RM & Z and yet are doing nothing about it. Here is our last chance as industry members to secure our future. I am more worried about the greater good and happy investing £10k with my 3 offices. If it does sink then I know I did my bit. If all agents embraced it then our future will be much cheaper and secure. With the likes of Knight Frank, Savills etc etc is it really not going to work?

    I would love to FF 5 years and AM being number 2 property site. It will be tough work but the right guy is running it!

    Maybe I am simple and naïve!

    • 11 December 2013 10:29 AM
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    AM can be a success if all member agents give 100% support in their offices, business cards, mailing, in local newspaper adverts and initial exclusive verbal reference to AM by staff - as most currently do for RM & Z . It could then stand a good chance.

    • 11 December 2013 10:02 AM
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    @ BORING BORING etc

    At least give them a chance to SINK which I agree they will.

    Dreams look great when your asleep and all is perfect. But come day light the real world dampens all those dreams. You'd need at least 50% of agents to fast become a 10th place portal. That means AM on launch can at best be a 30-40th place entry

    • 11 December 2013 09:48 AM
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    BORING, BORING, BORING

    So with around 20,000 agent offices out there. Theres no working website and only a fraction of UK agents on board.

    Were going to be a LEAD member and simply stay away from AM. LEAD membership is for the agents who can see it sinking like lead in water.

    • 11 December 2013 09:44 AM
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