Marketing
News covering the marketing of residential property, lead generation, buying and selling and business development.
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OTM says it now lists 55% of total agent properties available in UK
OnTheMarket says it is rapidly catching up with Zoopla and now lists over 550,000 rental and sales properties and has 9,500 listing agents, the company has announced. This means it has 55% of the total potential market for agent-listed properties while Zoopla has 82%, assuming a total market of a million properties, which Rightmove lists. The latest update from OTM, whose figures suggest it is now signing up between 500 and 1,000 agents approximately every 20 days, indicate that at current rate of expansion, the portal could catch up Zoopla in approximately 15 months, assuming the ZPG portal stands still. OTM has added 4,000 branches to its portal since it listed on AIM in February this year, an increase of 72%. “The very strong and growing agent support for our proposition has enabled us to rapidly gain ground on the market share of property listings of our long-established key competitors,” says OTM’s CEO Ian Springett. “We remain committed to creating an agent-backed, full scale challenger portal that injects some much-needed competition into the property portals landscape by disrupting what has for too long been effectively a cosy duopoly.” The news didn’t impact the OTM share price, which since peaking…
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OnTheMarket at nearly 50% market share, but how many are on discount deals?
Challenger property portal OnTheMarket has now reached 9,000 listing agents, giving it just shy of 50% market share following its February AIM launch.
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Over 60% of tenants offered insurance-based rental deposits take it up
Over sixty percent of tenants offered an insurance rather than cash-based rental deposit scheme at one of London’s largest new-build rental apartment developments have chosen to do so, it has been claimed. Criterion Capital, one of the UK’s largest Built-to-Rent operators and a major client of letting agent the Acorn Group, has made the claim for the first phase of its Delta Point scheme in Croydon, which eventually will bring 404 rental units to the market. The service is being provided by Zero Deposit, the Stevenage-based proptech firm co-founded by Jon Notley. “There is no question that Zero Deposit is helping to make our properties more attractive to potential tenants, speeding up the process and resulting in happier tenants when they move in,” says Karl Elliott, Head of Portfolio at Criterion Capital. Rental deposit Acorn Group, which includes four agent brands – Langford Russell, John Payne, Unique and Acorn – is one of South East London’s larger agency groups and has a total of 31 offices. All of these have now rolled out the Zero Deposit product. The agency was one of the four industry big hitters to give Zero Deposit its backing in February alongside Connells, LSL and Knight Frank.…
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OnTheMarket to begin giving out 36.3 million unallocated shares to agents who sign up to longer deals
Property portal OnTheMarket is to begin giving million of shares to agents who go for longer deals.
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D-DAY for OTM? Portal to reveal first audited results since flotation – on Thursday
OTM has announced that it's first year's audited accounts are to be released on Thursday, the first since it floated on AIM last year.
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Google gathers senior estate agency for invite-only digital seminar
After a nearly ten-year hiatus tech giant Google appears to have begun re-engaging face-to-face with the property industry. During the late noughties there was an outcry when it appeared that Google might begin targeting consumers directly and cut out agents from the property selling and renting process, although this was denied by the tech giant at the time. Nevertheless, the Californian-based online search firm subsequently scaled down its attempts to court the ‘for sale by owner’ sector and concentrated instead on other markets, much to the relief of agents. But now it’s back. The tech giant this week opened the doors of its UK head office to host a meeting of estate agents to mull over how to get instructions online. One of Google’s more senior UK executives, Harvard-educated Roxanne Brownlee (pictured), who works with larger, high-growth clients, did the presenting. Google, along with digital agency Fountain and 24/7 live managed live chat firm Yomdel, also offered up online strategies to help combat the challenges of competition from online hybrid agents, the privacy issues created by GDPR and Brexit. And Fountain should know – it helped hybrid agency Ewemove achieve rapid growth during its start-up phase. “Yomdel and Fountain began…
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OnTheMarket to catch up Zoopla by early 2019, figures suggest
Property portal OnTheMarket is recruiting 28 agents every day to its service and is on track to catch up Zoopla's current tally in February next year.
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ZPG to be sold for £2.2 billion to international private equity firm
Zoopla's parent company ZPG is to be sold lock-stock to a huge but relatively obscure global private equity firm for £2.2 billion.
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What’s behind the 15% jump in value of ZPG shares?
ZPG shares have been rising dramatically recently but then suddenly dropped off despite the portal group announcing increased number of returning agents.
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allAgents bans Purplebricks and all other agents with fewer than three-star reviews
Reviews website allAgents is to ban all agents with less than two-star reviews average to become the third largest provider of sales and lettings leads after Rightmove and Zoopla.
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