12 Jun If your agent is on onthemarket – you could be losing out
When onthemarket.com (OTM) was launched a few months ago – a brand new property portal to take on the duopoly of Zoopla and Rightmove – we decided not to join, because we believed our clients would lose out. As it turns out, we were right!
The problem with OTM is that those signing up are only allowed to use one other portal for advertising – either Rightmove OR Zoopla. We use both. If we sign up to OTM, we would halve the amount of marketing space for a property, slowing down the sale and potentially preventing you, the seller, from getting the right price.
Recent reports on industry websites have confirmed our decision. City analysts Jefferies and UBS, quoted on estateagent.co.uk, have come to the conclusion that OTM has simply diluted the competition for the big portals as shares in Rightmove and Zoopla soared.
Statistics quoted by the analysts show that OTM has had 3.8 m hits up to April 10 – compared with 95.3m at Zoopla. It also showed traffic had so far peaked at OTM in week 7 at 630,206 visits and had declined each week since then. In week 10, OTM had 349,613 hits. Meanwhile Zoopla has had over 9m hits in each of the 10 weeks since OTM’s launch.
The analysts concluded that OTM had failed to gain any traction with consumers so far and also that those who did visit the site were not returning.
The numbers speak for themselves – if your estate agent is using onthemarket.com – you’re losing out!
Call us today for a free valuation of your home and to move you one step closer to your dream home in Chalfont St Giles, Chalfont St Peter, Gerrards Cross, Rickmansworth, Beaconsfield and surrounding areas.