Zoopla is on the brink of offering its agents a fees reduction package and is due to reveal it today, two agents have told The Negotiator following discussions with their reps.
Harper Finn and Dreamview Estates, both in London, say their Zoopla contacts informed them that an announcement is imminent after they both threatened to cancel their listings with the portal as their businesses buckle under the pressure of Coronavirus.
“My rep told me that she didn’t know the detail of the likely deal to be offered to agents, but said it would probably be better than OnTheMarket’s,” said Christian Harper of Harper Finn.
He says the rep claimed that, because Zoopla is owned privately by US hedge fund Silverlake and is no longer listed on the London Stock Exchange or answerable to shareholders, “they were able to act in a far more appropriate way”.
“I have now cancelled my direct debit and been advised that by cancelling my direct debit, the debt will continue to build and I should expect to hear from Zoopla’s debt collection agency in three months’ time, regardless of me sending our data to them or not,” says Harper.
To beat OnTheMarket, Zoopla would have to offer a fees reduction package greater than a third.
Ahead of a likely decision, agents have been calling on both Rightmove and Zoopla to follow OnTheMarket, including one Winkworth franchisee, who last night tweeted: “Well done to @OnTheMarketCom who have reduced agent portal fees by 33%. @rightmove and @Zoopla should follow this positive action. Maybe this is time to just got to one #propertyportal.”