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Latest property news
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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Latest property news
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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Latest property news
OnTheMarket has now signed just under 40% of all estate agent branches
property portal onthemarket has signed up 7,500 branches or nearly 40% of all estate agents in the UK to its service.
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Latest property news
Will every agent eventually have to list on all three portals?
As Yorkshire market leading agency Manning Stainton decides to be on Rightmove, OnTheMarrket and now ZPG, many agents now feel under pressure to follow suit.
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Latest property news
Senior industry figure Nick Leeming steps down from Belvoir board
Senior industry figure Nick Leeming has stepped down from his position as a non-executive director at franchised lettings giant Belvoir after five years on the company’s board. Nick has helped steer Belvoir through a turbulent five-year period since it floated on the AIM stock market, raising £7 million to fund an aggressive expansion programme and, last year, an attempt to merge with The Property Franchise Group (TPFG), parent company of Martin & Co. He joined the Belvoir board after stepping down from a senior role at portal Zoopla. As well as his work for Belvoir, Nick has been Chairman of Jackson-Stops since 2013 and been a regular judge for The Negotiator’s industry awards. Nick, who says he is retiring from his position at Belvoir, will step down on 10th April and be replaced by another industry stalwart, Michael Stoop (pictured, left). Michael has an equally gold-plated and long-standing career within the industry having helped establish Belvoir’s franchising rivals Winkworth and TPFG, and in July last year returning to Winkworth in an advisory role. “On behalf of the Board, I would like to thank Nick for his considerable contribution since the Group floated on AIM,” says Michael Goddard, Chairman of Belvoir.…
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Latest property news
OnTheMarket signs up 1,000+ new branches via equity participation and free listings
OnTheMarket Plc says over 1,000 additional agent branches have been signed up to its recently AIM-floated portal just five weeks after its shares first began trading, taking its branch total to over 6,500. The portal’s salesforce have a new offering to tempt agents to list with them – Agent Recruitment Shares – which “selected” sales and lettings agents are being offered, in effect locking them in to OnTheMarket for an undisclosed period or, as the portal puts it to “align their interests as shareholders with the success of the company”. “We believe that as we expand our sales team, we shall continue to sign up more and more new estate and lettings businesses up and down the country,” says OnTheMarket CEO Ian Springett. This new form of equity participation in OnTheMarket is running alongside the longer-term deals earlier listers on its portal were offered. Those not being offered the equity scheme, or who don’t want to get involved, are being given free or discounted listings deals for an introductory period and who, OnTheMarket hopes, can be converted at a later date. This latter model is the one its competitor Zoopla employed when it launched to persuade agents to list on…
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Latest property news
ZPG fires latest salvo in its ‘signings’ battle with OnTheMarket
The battle between ZPG and OnTheMarket to poach agents off each other kicked off again yesterday when the Zoopla parent company said it had lured 100 new agents back to its purple portal, and signed existing client Chancellors to a new five-year deal. Competition between the two is now fiercer than ever after OnTheMarket (OTM) dropped its ‘one other portal’ rule following its recent AIM flotation, while ZPG is keen to counter OTM’s recent push to sign up small and medium-size agents, which so far has seen several hundred new agents sign up. The larger of the 100 agents on ZPG’s list includes some recent, as well as less recent, returnees including Curchods, Douglas & Gordon and Jones Lang LaSalle in London, Henry Adams in Surrey and Sussex, Morris Marshall & Poole in Wales and Whitakers in Hull. These companies between them have nearly 80 branches plus ZPG says the rest of the returnees are one, two and three branch agents, taking the total number of additional branches now listing with ZPG to 200 or more. ZPG also says the Chancellors Group, which as well as its own branches in London and the Home Counties plus Anscombe & Ringland in…
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Latest property news
OnTheMarket has been signing up 16 new agents a day since flotation
OnThemarket’s strategy to sign up more agents on the back of its recent AIM listing appear to be working. The formerly mutual portal has signed up 243 additional sales and letting agents to its service, up from the 81 revealed just after its shares were listed on AIM ten days ago. The portal also says independent agency group Chancellors has begun listing its properties on the portal. In November Chancellors agreed to sign a five-year listing deal, but only if OnTheMarket successfully achieved an AIM flotation. This means Chancellors’ 53 sales and lettings branches, which range across Berkshire, Buckinghamshire, Herefordshire London, Oxfordshire, Powys and Surrey are now listing their properties on both OnTheMarket, Zoopla and Rightmove. The portal says Chancellors’ listing is evidence that agent support for the portal, which is now valued at £101.4 million following the AIM launch, is growing. Chancellors has agreed to more than just a listing with OnTheMarket, though. The company has agreed to actively promote the OnTheMarket.com portal brand with digital and branch-based marketing activity. Chancellors Group Chancellors, which used to be known as Hogg Robinson Property Services, in 2016 generated profits of £2.5 million on a turnover of £26.6 million, its latest accounts…
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Latest property news
OnTheMarket founding agency Douglas & Gordon signs up with ZPG
Douglas & Gordon, one of the most vocal founding members of OnTheMarket.com, has returned to ZPG on an unspecified but likely five-year deal. The 18-branch agency, which is one of London’s better-known agency brands, has signed up with ZPG after OnTheMarket dropped its one other portal rule ahead of the portal’s recent stock market flotation although it “remains a strong supporter and investor in OnTheMarket and has recently signed a new five-year listing agreement with us,” an OTM spokesperson told The Negotiatotor. Douglas & Gordon continues to list its properties on Rightmove as well, suggesting a new trend in the industry following the OTM share launch; that agents with generous marketing budgets will now choose to list with all three portals. Douglas & Gordon was one of several high profile agents who founded OnTheMarket in 2015 including Savills, Strutt & Parker, Knight Frank, Chestertons and Glentree Estates following two years of behind-the-scenes discussions. James Evans (pictured, left), Douglas & Gordon’s current CEO, says, “We are delighted to be marketing all of our property listings with ZPG again. “ZPG have historically served our business very well and have considerably developed their platform over the past few years in terms of the…
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Latest property news
Huge difference in traffic to three main property portals revealed by latest ZPG results
ZPG has revealed how much traffic it drives to its various property portals and, the latest figures show, they were visited 68 million times during January, trailing Rightmove by 52 million visits on average but well ahead of OnTheMarket’s 14 million. ZPG’s figures includes 58 million visits to its three property portals; Zoopla, PrimeLocation and SmartNewHomes, while the remaining ten million visits were to its other websites such as uSwitch and the recently-acquired Money. ZPG also says its property websites enjoyed a 10% year-on-year uplift in traffic and, as evidenced by the sea of faces staring at smartphones in Britain’s streets and train carriages, that 60% of its portal traffic now comes via mobile devices. Property portals Visits to its comparison website uSwtich increased by 7% year-on-year, the company says. “We’ve had a great start to the year with a record of over two million visits per day to our websites in January,” says ZPG CEO Alex Chesterman (pictured, left). “These figures demonstrate that consumers are highly engaged with the services we provide and that we continue to deliver incredible exposure, value and results for our partners.” These latest ZPG figures would suggest that Rightmove’s average monthly visitor figure of…
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