A survey of portal usage shows a low level of trust and customer satisfaction from agents, and a majority of agencies saying they will not use the soon-to-launch Boomin.
The survey is small - only 100 agents - but looks at the average monthly fee being paid to the three major portals. This average is currently £1,122, with the highest monthly portal fee surveyed hitting £25,000, although these figures include payment for additional services offered by portals, and not just property listing.
The survey is from Proptech platform WiggyWam and says with regards to Rightmove:
- 2 per cent of agents spend less than £150/month;
- 23 per cent spend £1,000 to £1,499/month;
- 27 per cent spend £1,500 to £1,999/month;
- 24 per cent spend £2,000 to £2,499/month;
- 6 per cent spend more than £5,000/month.
And with regard to Zoopla:
- 2 per cent spend less than £150/month;
- 47 per cent spend £150 to £499/month;
- 40 per cent spend £500 to £999/month;
- 2 per cent spend more than £5,000/month.
And with regard to OnTheMarket:
- 39 per cent spend less than £150/month;
- 51 per cent spend £150 to £499/month;
- 10 per cent spend £500 to £1,000/month.
Wiggywam asked how satisfied agents were with the portal service they receive in exchange for this monthly expenditure. The average scores were:
- 2.8/10 for Zoopla;
- 2.6/10 for OnTheMarket;
- 2.1/10 for Rightmove.
Trust levels also remain low. Agents gave:
- 4.5/10 for Zoopla;
- 3.6/10 for Rightmove;
- 3.2/10 for OnTheMarket.
Some 42 per cent of agents responded to a question by saying portals should cut fees to provide more satisfactory service. Fifty seven per cent of Rightmove’s agent customers report that portal fees were higher in 2020 than they were in 2019. Some 32 per cent said the same about Zoopla, and 18 per cent for OnTheMarket.
When asked about Boomin - the portal from Purplebricks founders Michael and Kenny Bruce - some 55 per cent of agents stated they would avoid working with it.
“With recent news of Rightmove imposing a further 11 per cent hike in fees to agents, the findings of this survey couldn’t be more relevant” says WiggyWam chief executive Silas J Lees.
“The vast disparity of fees being paid by some agents compared to others is striking to say the least. And when considered alongside the dire trust and satisfaction ratings, it does not paint a happy picture for ‘the big three’, showing their customers have very little faith in their businesses.
“It all raises the more curious question of why agents continue to remain with service providers whom they don’t trust? Is it really down to lack of options?
“Or does the ‘once bitten twice shy’ idiom prevail in this situation, a situation where agents believe that the devil you know is a far smaller risk than trying to create a Rightmove 2.0?”
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Respect to Silas and Wiggy Man for this and the webinar last week but a survey of 100 hardly really provides enough of an example. With nearly 20k agents using the 3 main portals I would have thought a number of say 25% /5k needed to be polled? Then the results may have also been different.
I also dont think asking 100 re Boomin is fair. We as you know left RM (Saving £1600pcm - way above the figure mentioned) and are happy with our subs of £700 at Zoopla) We also intend to join Boomin, for the sale reason we have joined Wiggy Wam, Best Agent, Homesearch, Open BRix, MoovShack etc etc etc. To give us a wider coverage and support the challengers to break the grip of the main portals. As John Lennon sang "Give Peace a Chance" and with all the detractors then why can we do the same no
w and "Give Boomin a Chance"
Agents giving Boomin a chance is like giving an abusive ex partner a chance. They never change. They will hurt you again, even if you don't see it or feel it at first.
Correct and amended! Charlie
Agreed Charlie Lamdin. All Murray and others need to do is give PropertyMutual a chance, where 100% of revenue goes to the 100% member owned Mutual and its members, and 0% of revenue goes to investors!
Andrew,
agree, we need to give you all a go for at least a few months as we moan about the others RM Z and OTM but do nothing about it. When challengers pop up we put them down because they haven't got the public eyeballs. The others started the same way and it was the industry that built them so we as an industry need to support the likes of PM in the same way then let the public decide where they want to go as one size doesn't fit all. It is about providing choices.
Im happy to give all the challengers a chance Andrew, you know that. Just so few have raised their presence enough to attract the public's eyes. OTM are having enough trouble doing that so how will the others do it (with my support!) ? What ever you think about Boomin they seems to have the money and machine to get noticed. With respect to Homesearch who were 1 of the 1st to get our attention at the start of the portal wars, Ive not seen anything from them, or the others that has gained any attention. Not wanting to be a narcissist, I think I get more attention than the portals have ! LOL I like to be controversial, ina good way, as you know but at least it gets noticed.
Two of the agents surveyed pay less than £150 a month for Rightmove - who are these firms? Also, who's spending more than £5K to Rightmove/Zoopla? Got to be multi-branch, surely?
Don't know for sure but guessing the ones at the lower end are the like of ExP and Keller Williams. Why I say that is I saw posts one FB groups around this and someone explained that they pay a monthly fee of £100 a month to one or the other and it gets them listed on the 3 main portal. The other figure will definitely be a multi-branch or maybe operating in multiple zones?
Almost fake news with such a small number of agents used
Irrelevant
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