Is On the market (OTM) going to be a game changer? Er, no I think not and here’s why…
So, there’s a new portal in town and it’s getting quite a push by those agents that signed up. I won’t go into the politics of it all and regurgitate the arguments that have been raging between agents online about the whole thing. No, I want to look at it purely from the perspective of a prospective buyer/tenant. The person who after all we as agents are trying to put your property in front of to get it sold or let.
In case you are entirely unaware of this new portal, allow me to quickly explain that this new portal comes with one very important rule. Any agent advertising on OTM may only advertise on ONE other major portal. This means that any agent who has signed up will very shortly, if not already, have to drop either Rightmove OR Zoopla. One additional point to not is that OTM is not open for online agents to advertise on.
Looking at this you might well think that now a prospective purchaser or tenant now has to look at 3 websites instead of just two. I Know I did, and of course I thought, well that’s a bit of a pain but hey ho.
Then I thought some more and realised, well, no, they don’t actually. OTM is irrelevant!
If we assume that every agent is currently on either Rightmove or Zoopla, then they will likely still be there post OTM’s launch, whether or not they decide to join OTM.
If, as many are, the agent is on both, they will be dropping one, not both, just one of them. It is already a huge commercial risk dropping one, it may happen, but I really don’t see anyone putting all there eggs in one very new, very unknown basket!
So, if you now want to see the “whole market” you can easily just ignore OTM, as all the property currently advertised will still be on either Rightmove or Zoopla. Just not on both (exactly the same as before!).
Serious house hunters, should already being using both anyway to get a look at the whole market and now, they can just carry on….
So, I never say never, but as you may have guessed, we will not be joining a pointless portal. That may change in the future, but for now I simply fail to see the relevance of it.
Our customers and clients can be safe in the knowledge that all our properties will still be getting full exposure on both Rightmove and Zoopla.
Please feel free to share your thoughts below.