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The Masked Tulip

Onthemarket.com - Ea Competitor To Rightmove & Zoopla

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Seems that EAs across the UK are forming a mutual to take on Zoopla and Rightmove with a new website called http://www.onthemarket.com

They reckon fees will be much cheaper because the EAs own the website within a mutual. Several EAs I have spoken with say they aim to dump Rightmove and Zoopla next year if thks new site is a success.

It goes live in January of next year.

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There are plenty of competitors to RightMove and Zoopla who are much cheaper. Some of them are free. It's got them nowhere. RM has scale which creates much more value for advertisers. This all just an exercise in scaremongering on the part of traditional EAs to keep low-fee online agents off RM. I'll enjoy seeing them waste millions on this project.

Edited by richc

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There are plenty of competitors to RightMove and Zoopla who are much cheaper. Some of them are free. It's got them nowhere. RM has scale which creates much more value for advertisers. This all just an exercise in scaremongering on the part of traditional EAs to keep low-fee online agents off RM. I'll enjoy seeing them waste millions on this project.

+1, too little too late

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Isn't this the site that was set up by high street EAs so they can avoid competing with the cheaper internet-only EAs by preventing them from joining the site? So basically they want less competition so they can keep charging high fees.

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Apparently they believe that a 10K investment will allow one particular EA firm to pay just 1K a month to advertise as opposed to about 90K per year each for RM and Zoopla.

Im sure they could advertise on a web site for a hundred quid a month but it won't do any good if all the people wanting to buy houses are looking at rightmove.

If they attack rightmove hard, they would counter by letting people put their properties on there without an agent and then they really would be in trouble.

The internet is in the business of using tech to disrupt traditional businesses. In this case, estate agents expecting several percent of a property sale for taking a few photos and measuring some rooms are screwed.

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Isn't this the site that was set up by high street EAs so they can avoid competing with the cheaper internet-only EAs by preventing them from joining the site? So basically they want less competition so they can keep charging high fees.

No idea.

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Im sure they could advertise on a web site for a hundred quid a month but it won't do any good if all the people wanting to buy houses are looking at rightmove.

If they attack rightmove hard, they would counter by letting people put their properties on there without an agent and then they really would be in trouble.

The internet is in the business of using tech to disrupt traditional businesses. In this case, estate agents expecting several percent of a property sale for taking a few photos and measuring some rooms are screwed.

I did offer the suggestion that RM could counter by simply allowing people to advertise directly. Problem is, I don't think the baby boomers want that - there seems to be a lot of snob value in using an EA.

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I did offer the suggestion that RM could counter by simply allowing people to advertise directly. Problem is, I don't think the baby boomers want that - there seems to be a lot of snob value in using an EA.

Inertia works too, until it doesnt

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There was some chatter on an EA site that the draft T's&C's of onthemarket allow participating agents the right to only advertise on one other web portal.If true it doesnt look good for Zoopla (or righmove if it starts a spiral of competitive price slashing for the business)

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