Zoopla seeks to reassure agents after posting £5m+ loss
The portal's Chief Operating Officer Rich Hayes has written to estate agents saying it remains a "vital marketing partner".
Zoopla has moved to reassure its customers that it remains a “vital marketing partner” just a few days after reporting losses of £5.8 million.
The portal’s Chief Operating Officer Rich Hayes penned a letter to estate agency clients saying it would continue to help agents grow their business.
Zoopla reported earlier this week that its revenue fell 7% to £84.2 million from £90.5 million in 2023.
Doubled down
The portal said then it had doubled down on its position as the UK’s leading provider of property valuations, with My Home subscribers hitting 4.5 million in July, up from 3.8 million at the end of 2024.
It also claimed that over 700,000 subscribers indicated they are serious sellers ready to move within 12 months, prompting it to launch a new product, Prospect Plus.
And Zoopla pointed out that the business also secured major new contracts, with Leaders Romans Group returning after a one-year absence, and Knight Frank signing a three-year residential listings agreement.
Focused
Hayes says in the letter: “Over the past few months, many of you have told us the same thing: what matters most is getting quality leads and a strong return on investment.
“That’s exactly where we’re focusing our efforts, giving you the tools to reach motivated homeowners and convert more instructions,” he says.
We’re committed to being a vital marketing partner that helps you grow your business.”
And he continues: “We’re committed to being a vital marketing partner that helps you grow your business from buyers, renters, vendors and landlords.”
Hayes says Zoopla is “testing AI tools to boost visibility for your listings”.
“Experiment results show an 80% increase in views, meaning more exposure for your brand and more enquiries that convert into leads.
“And this is just the start, we’ll continue rolling AI out where it delivers the most value for agents.”
