Estate agents have been telling Zoopla they are being ‘squeezed’ and are facing severe challenges with costs at the moment, The Neg has been told.

Rich Hayes, the portal’s Chief Operating Officer, has made the comments, saying Zoopla’s growth “must not be at the expense of agents”.

He wouldn’t comment on Rightmove’s controversial fee hikes, but was keen to stress that Zoopla wanted to take a different approach.

Agents are feeling a bit squeezed.”

“Agents are feeling a bit squeezed. They are telling us they have real challenges at the moment in the cost of acquiring new customers or instructions,” he says.

“Zoopla growth can’t be at the expense of agent margin. We have got to be considered a marketing partner.”

Obsessing

Hayes says Zoopla is “obsessing” over this issue, and wants to ensure it adds to estate agencies’ businesses.

“It is important that they have the right leads”, he says, and that it is crucial those leads are quality ones.

Zoopla recently reported a 19% surge in valuation lead quality for agents, “reaffirming Zoopla as the preferred portal for consumers looking for a valuation”.

We have haven’t got a sore neck from looking over our shoulder.”

With the portal established as the number two portal in the UK, behind Rightmove but ahead of OnTheMarket, how did it react when global giant Co-Star Group bought OTM in 2023?

“We haven’t got a sore neck from looking over our shoulder,” he says. “We have tried to tighten our message, instead of becoming defensive.”

More focused

Although he does admit the Zoopla team did become “a bit more focused”.

“We are sticking in our swim lane… rather than shifting our strategy.”

Hayes is leading a series of Zoopla roadshows with agents, with the next one planned for 19 June at The Oval in London.