OnTheMarket has this morning announced that franchise giant Belvoir will list all of its 300-plus branches on the challenger portal.
This includes the full range of Belvoir sales and lettings properties through its Belvoir, Northwood and Newton Fallowell brands.
“We have for some time believed that the property portals landscape was ripe for disruption. OnTheMarket is the first serious contender for several years to be injecting genuine competition in the interests of agents and property searchers alike” says Belvoir’s chief executive Dorian Gonsalves.
“It is agents who provide the portals with the majority of their content and income. It is also agents who serve their clients and property searchers on the ground in selling, letting, buying and renting property” he continues.
“I’m very pleased to be announcing our strategic support for OnTheMarket as an agent-backed business and am confident that with agent momentum building it will continue to go from strength to strength.”
In the statement made to shareholders and the City this morning, Ian Springett - chief executive of OTM - says: “While we have already been working with some individual offices within the Belvoir Group, we are absolutely delighted to welcome the entire group to OnTheMarket. As an outstanding business with 300 lettings and estate agent offices up and down the UK, Belvoir continues to expand its network.
“Belvoir has an enviable reputation for combining strong central and supportive management with an entrepreneurial culture and high quality local client service.
“Its decision to support OnTheMarket is a strong testament to our success to date in increasing our agent base, our consumer traffic and the value we are creating for agents.”
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On The Market rang me again yesterday to join for free with no initial costs until next year. I told them to go away politely. Why on earth are agents creating another outgoing cost for web portals in the future? RM now have most agents over a barrel because of OTM and their initial one portal rule. Now you can be on all 3? It makes no sense whatsoever to join a website which you will have to pay for later. All agents will need to be on the major 3 at some point and I'm sorry to say too many agents are short sighted in buying into OTM with short term benefits and long term pain.
Although far from a supporter of OTM. RM clearly do not care one bit what the effect of there constant huge annual increases have. Ultimately, any agent listing on RM needs to take responsibility for what they have helped create. To much of RM's income is reliant on agency supplied data and subscription. So it would be quite easy to damage and send them a very clear message. But for all the those complaining, most are still paying RM a membership fee and giving uploading their listings to them.
I am surprised that Jared hasn't considered his real position, assuming he is a willing participant in contributing to Rightmove's profit margins. 10% + increases in RM subscriptions year on year for 10 years. Have his fees or house price matched that ? It makes every sense to join OTM at an initial discounted rate to feel the water and to then decide, even at OTM's full rate, which offers better value for money
Hardly Willing. If all agents are on Rightmove it would be financial suicide to not be. All vendors are interested in from a portal point of view is that it is on Rightmove in our area and Zoopla. Obviously it differs in the South and some other areas. If all agents actually got out of Rightmove and Zoopla and went OTM that would make sense. Dare I say they would have to come to us as an agent as 'where have all the properties gone'. It would also hurt online agents who are not allowed on OTM. All that is happening at the minute is were creating more costs to satisfy customer needs.
Do please remember they are being signed for free, they pay nothing for at least a year.
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