The deadline for action by some OnTheMarket member agents who received letters from lawyers on behalf of parent company Agents’ Mutual expires this week.
Letters from legal firm Eversheds were dated April 4 and insisted the rebel agents pay alleged arrears and fall into line with the ‘one other portal only’ policy within 14 days.
The letters say that legal proceedings will commence to recover the sums if payment is not forthcoming in that period. The letters also stated that the cost of the action to recover the sums will increase the alleged debt owed.
One agency which contacted Estate Agent Today over the weekend said it was “in talks” with the portal; another agency contacted us to say his response to Eversheds was being put to Agents’ Mutual for its comments.
OnTheMarket has declined to say how many agents it is pursuing and the volume of money it intends to extract from them in total. But a spokesperson told us: "It is standard practice for any company to seek outstanding payments from customers when they are in arrears. We work to ensure that everyone in contract with us meets their obligations for the benefit of all members of Agents' Mutual."
There has been no news yet on any collective activity from the action group of rebel agents set up last week by consultant Iain White.
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This is going to run and run, isn't it? And I can confidently predict that the end result won't be pretty!
Mountain out of a molehill once again. A lot of people want to see OTM fail - no idea why, perhaps they are happy with RM and Zoopla holding agents over a barrel? - but they've not gone away yet and I think people are worried that they haven't folded as many presumed they would.
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