What a morning! Now Zoopla suspends its estate agent fees entirely for up to nine months
The 100% fee reduction for agent comes in two packages, one requiring them to leave Rightmove and lasting nine months, the other lasting for five months.
Zoopla has followed both OTM and, this morning, Rightmove and entirely cut its portal fees to estate agents, but with some strings attached.
The portal is to pause its fees for up to nine months for agents with fewer than 30 branches, or 80% of its customer database.
Zoopla is offering two packages – nine months for free if an agent leaves Rightmove, and up to five months for free if they don’t.
Both packages then require agents to sign up to an 18-month contract after the free listing term has ended and the portal’s normal fees resume.
Zoopla has also committed not to increase its fees during these new 18-month contracts.
Agents are able to sign up to either deal up until the end of April 2020, with the new terms to take effect from 1st May 2020.
Charlie Bryant, CEO, Zoopla (left), said: “We have said consistently that agents are at the heart of everything we do, and today’s actions demonstrate the role we can play in helping to secure the long-term success of our agent partners.
“It’s our aim to support and work alongside agents to unlock new opportunities, deliver the utmost value for money, and to bolster them during this difficult period.
“This isn’t something we wanted to rush; we have taken the time to speak to our customers to get these options right for them. We know each agent is different, which is why we have two compelling offers available.
“Both options are simple, concise, and there are no hidden clauses. Available to new and existing customers, we hope that they provide a financial cushion for agents that alleviates pain points and meets their respective needs.
RM 75% off for 4 months, OTM 33% off, Zoopla free if you ditch RM for 9 months, Choices, Choices, Choices Hmmm, they need to smell the coffee and take notice from Scientific Advisory Group for Emergencies just released now, it can take a year before we see results. i would suggest the 3 major portals should do for free for a year. no if’s no buts.
If the interest rate can be reduced from 0.5% to 0.1% with one week so can the portals reduce to ZERO.
If we go to lockdown which could happen very very soon,
how on earth will Vendors and Landlords exercise social distancing? and how do we know who has the virus on viewings?
Time is of the essence and the whole property fraternity needs support and to take action. WAKE UP PORTALS.
The Government needs the back bone SME’s otherwise its curtains for many, and they will do everything possible. so it is times for the portals to show loyalty and goodwill.
Count me in Zoopla – I’ve been looking for a good reason to kick Rightmove into touch, even though they’ve countered with a reduced fee. Rightmove have for too long bashed us agents for high rates and now’s the time to tell them enough is enough and walk away. I’m with OnTheMarket too and to be honest, the leads from both Zoopla and OTM combined have been steadily increasing to the point where I don’t think I actually need Rightmove anymore. Massive saving to my business too (I’m a one man outfit in Oxfordshire). All we have to do is make sure the searching public know that they will miss out on their dream home if they blinker their searches to RM only. I for one will be using the money I save to push into social media advertising to pull in more tenants! Viva la Revolution!!!