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OnTheMarket.com highlights ZPG ‘inconvenient truths’

Chief Executive Ian Springett says ZPG figures hide real position

Nigel Lewis

OnTheMarket.com chief executive Ian Springett has countered ZPG CEO Alex Chesterman’s assertion this week that the Agents’ Mutual portal is a ‘failed experiment’.

Springett says that while it ‘clearly suits’ ZPG to position his portal this way, he challenges some of the ‘inconvenient truths’ for Zoopla.

springett125“The number of UK agents listing on the Zoopla platform remains 22% down compared to the period prior to the launch of OnTheMarket.com,” he says.

His comments are based on ZPG’s own Annual Reports for 2014 and 2016 which show that the number of agents advertising on the site has dropped by 3,000 to 13,373 since OnTheMarket launched.

Springett also says that he believes Zoopla has, unsurprisingly, been using price to try and wrestle agents back off OnTheMarket.

“Our direction of travel remains clear. While Zoopla Property Group claims to have increased the number of UK agents listing on its portals by 5% year-on-year, meanwhile the number of offices listing at OnTheMarket.com at the end of October 2016 had increased by 15% year-on-year,” says Springett.

“The consumer appeal of the service is clear from record-breaking traffic in September of more than 10million visits, an increase of 79% year-on-year. These are not the achievements of a ‘failed experiment’.

“ZPG’s somewhat sensationalist suggestion today that this is ‘the beginning of the end for OnTheMarket.com’ is similarly lacking in substance and credibility.

“For the record, OnTheMarket.com is at an early stage of a long-term strategic journey to create a genuine alternative market-leading portal for agents and consumers alike.

“ZPG under-estimates the acumen, determination and support of the overwhelming majority of agents listing their properties at OnTheMarket.com to achieve its long-term goals.”

December 2, 2016

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