OnTheMarket says there is no delay with its plans to list member agents’ overseas properties for sale, but still cannot reveal a launch date for the new service.
On October 5 last year Estate Agent Today revealed that the portal would be listing overseas property. A statement from OTM at the time said: "We will be listing overseas properties in the coming weeks but there won't be any details yet on a specific time-frame".
The portal is remaining tight-lipped on the subject and its latest statement says only: “There's no delay and no specific news to report.”
Although international property sales below the top-end have struggled in recent years, some founding members of OTM’s parent company Agents' Mutual - Knight Frank, Savills and Chestertons - have substantial international divisions with portfolios aimed primarily at high net worth individuals.
The OTM proposal to market international properties was cited in a controversial open letter released in mid-October by estate agent Lisa Ascari, of My Place In Cornwall.
“How do I benefit from you spending my marketing investment on sponsoring Country Life or developing an overseas property section, which obviously benefit your board members but not the vast majority of your other shareholders?” she asked in the letter, which was chiefly arguing against the ‘one other portal’ rule imposed by OTM.
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Yeah right. In other words 'our international section has taken months to develop'. I bet that there are agents in Wales and Scotland that are delighted that the mutual is allocating its resources in this way. Definitely plays to 90% of their members.... NOT!
Have faith. Knight Frank and Savills are right behind you and your and business.
Be faithful, not in what they do, but what they say. Be faithful in their benevolence.
Fantastic news! This means they can advertise my oversees properties to no-one as well as my home stock!
Very cutting comments. OTM seem to just keep glossing over the issues put to them, and now the delay in an overseas expansion which the majority of agents don't want anyway.
Predictions for the next 6 months anyone?
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