OnTheMarket is today making it clear that paying agents will very shortly start to have a significant advantage over those on freebies.
This morning it is announcing what can only be described as Rightmove ‘lookalike’ products.
OTM does not use this phrase, but says that its new products will be cheaper than Rightmove’s and will bring it “one step closer to offering the full range of tools and products available to agents from its competitors”.
The new products will go live on April 8, and will only be available to agents on paying contracts, as OTM starts what could be a difficult journey trying to convert agents paying nothing into subscription-payers.
The new OTM products are:
Spotlight property: a bigger listing and enhanced multi-image design at the top of relevant search results.
Local agent banners: display ads for extra branded stand-out to boost visibility to prospective clients and property-seekers within relevant search results pages.
Property alert banners: highly targeted display ads to reach motivated property-seekers who are searching locally and have registered to receive regular alerts.
Helen Whiteley, OTM’s commercial director, said: “Following an agent feedback process, we are pleased to launch this range of products.
“However, as part of our commitment to the principle of sustainably fair pricing, we shall not be ‘bundling’ core listing fees with any additional advertising our agents may choose to take.
“Furthermore, we shall be offering these new products at a fraction of the standard prices charged by Rightmove.
“We hope that OnTheMarket members will choose to use the new set of tools and products now provided by the agent-backed portal.
“Transferring usage and revenue away from other portals to OnTheMarket is key to ensuring that agents can reduce their reliance on other portals, regain control of their portal costs and accelerate the successful growth of OnTheMarket.”
A deeply disappointing move by OTM.
OnTheMarket effectively becomes Rightmove.
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If OTM was a total replica of Rightmove but charging half what RM charge, would you welcome it GPL? Serious question.
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No, I wouldn’t welcome a Rightmove Replica, and that is what we are witnessing with OnTheMove.
When you create “chargeable products/features” you create a 2 Tier Portal for Subscribing Agents – those that take the extras and those that choose not too.
In a heartbeat that “charging for features/products” provides the foundation for future increases, then those that opted out will have some of those products/features forced upon them and an annual increase justified by those extras that they never opted for however had forced upon them – remember Rightmove’s Logo/Brand Feature? I never took it then ended up with it as a means for them to justify another annual increase?!!!
This is OnTheMarket becoming OnTheMove! – it’s the thin edge of the same Rightmove wedge …..and remember that I continue to honour paying my monthly OTMV1 Monthly Subscription.
It’s a funny thing “Honesty/Honour” and “Business” ……very often we find examples of their incompatibility
……. Ladies & Gentleman I present you with…. OnTheMove!
Sadly, it’s only mimicing its “Challenger” status, its no more than a Wolf in Sheeps Clothing.
It’s so disappointing to see us being taken down the same portal path again!
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AgencyInsider,
I do not recall any of the original members of OTM agreeing to this – quite the opposite.
And how long would they remain half-price ?
Cost is not the issue for me – the managing team have shown no regard for the comments made by the members of OTM.
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I will try to make the hypothetical question more simple.
If OTM became a clone of Rightmove but charged half what Rightmove charges now and forever in the future, would it be welcomed by agents?
To my mind, if I could get all that RM gives for half the money I would take it and drop RM.
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AgencyInsider, in the real world the “half RM price” forever? …..it won’t happen?
Look at the bolt-on OTM Price announcement today ……these features/products costs nowhere near the revenue raise that OTM are seeking.
I had almost reached a point where I may well have not left OTM after my Spring 2020 Lock-in Clause expires …..however OTM/Ian & Co have just successfully sh@t on former V1 members (like me) again, whilst also signalling to the New Subscribers how the charging system will mimic Rightmove
It’s farewell OTM from me ….. you couldn’t control your Rightmove ego and you just let OnTheMove out of the portal bag.
When will these portals realise that Agents are not here to feed them. They advertise property, that’s all? ……we actually sell the properties.
Without Us – The Portals Die.
However, agents without the Top 3 Portals? – We will still be happily selling/letting properties via our own portals.
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Any agent would, but in reality, they will never have RM’s traffic etc.
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But with far farrr less traffic, public awareness, leads and cheaper. 🙂
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Yet another promise broken. They tried this once before and people said it was a bad move and apparently they ‘Listened’ to their members and would not introduce it.
More broken promises and lies to add to the ever growing list.
The most dishonest and deceitful company I have ever come across.
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…and yet your still advertising with OTM
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Everything has a value. £50 is what it’s worth. When they come round with the enivitable begging bowl they will be shown the door like many other agents will be doing.
Keep it at that price they have a small chance of doing what they set out to do almost 5 years ago. However they are now a for profits organisation and looking to replicate RM in every sense including monthly fee.
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But if it means that much to you why not continue with your £50 contract but ghost your properties.
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Smile Please, that’s got to be the most disingenuous approach I’ve ever heard. How can you possibly slag them off and continue to use the service.
If OTM mimics RM and does it for a fraction of the price, you’d be an idiot not to support it. Basic business sense.
OTM will never be an exact replica anyway as many of the shares are owned by Independent agents.
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Well not beating around the bush, i am commercial savvy unlike a lot of posters on here.
£50 represents value for money (so do the free members), £400 per month is a joke.
And if you look at my comments further down, you will see why.
However, i will be true to my word and when that call comes to increase fee i will stop advertising (along with 50% of their other members).
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FYI – You do remmeber RM was started by agents? and you do remember many of us independants were given share options……
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We were and we were shafted not long after and ever since. Dumped them years ago and never looked back. While many back then were worried about loosing business from not being within “the club” and competitors ridicule them with customers … good communication and explanation with the public won them around.
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This isn’t an agent backed portal this is a cash generating portal that has only one ambition, profit! Those of you that blindly feed it deserve the bite that it will in turn deliver if it’s successful!
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Yet you’re happy to feed Righmove with much higher fees……
Hilarious.
You’re business acumen preceeds your idiocy.
Support the portal that’s looking to reduce costings for agents (no matter how long for) RM have had their day.
Of coure OTM want to make money – it’s a business, not a charity
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Wasn’t the original pitch from Agents’ Mutual that OTM was to be a mutual – that each agency had an equal say and that any fees that were charged would simply cover running and marketing costs?
As soon as there was enough support, the mutual status was dropped and OTM was launched on AIM.
Shareholders aspire for RM’s proven level of profit, so prices will simply keep rising. Maybe OTM will one-day take the top spot, but RM won’t disappear. Supporters of OTM are simply pushing for RM v2 – a third portal to pay for every month.
OTM is no-longer “run by agent, for agents”.
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I was a Gold member of OTM so I put my money where my mouth is, unlike many of the new joiners who expect to reap some rewards off of the back of the initial work the founding members put in! I downgraded my RM subscription to basic some time back so yes I feed RM but at the bare minimum rate!
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An utter disgrace.
These portals just don’t get it do they?
Their primary function should be to drive agency branding and free val enquiries to their paying clients as part of the subs.
Until they do; they are simply a digital shop window and an expensive one dimensional one at that.
Time for a re-think.
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Here we go again, making OTM agents compete against each other through buying additional products. Just so you all know, feature property, premium listings etc dont work and dont draw any extra enquiries. But you go splashing the cash with OTM because you are shoving it to RM (probably whilst still paying RM and still having all their add ons)
Unless you can genuinely say you no longer pay RM, all that has happened here is a 3rd major portal has been created and a 3rd portal to pay more money to.
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Surrpised you haven’t flagged up to posters yesterday’sTweet the real game changer for many the potential arrival of Bricks !!!
Arthur House @The_EA_Insider
FollowingFollowing @The_EA_Insider
More
Done a valuation this afternoon up against PB, who apparently told the owner they will shortly be advertising on On The Market shortly.
10:08 AM
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Very simple this. Nobody get on the product train and therefore nobody else will feel compelled to keep up with you.
Not rocket science.
You can be on a website without paying for products.
Best product – your marketing and you. (such a cheese ball)
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Problem is a number of “Founding” agents will be pumping money into it to bait other agents to do the same.
However as usual you are right Ric, agents should resist.
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The portal for agents by agents…absolute b*** s***
OTM were just about getting a bit of credibility then this add on business starts.
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One of the big dislikes of RM was the premium listing and the limited availability that disadvantaged members ….. now OTM are doing it. Big mistake, OTM was about being all equal. They are moving into self-destruct mode from an idea that should have worked … big, BIG shame, a great opportunity for the industry is potentially being destroyed …. there are winds of discontent in the wings and lack of confidence/security of what the future holds = very poor leadership skills. Even I will now concede smacks of RM philosophy and questionable TRUST.
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Can we have confidence that the OTM bashers seen above have no vested interest in seeing it fail ? Perhaps not.
Let me declare my interest, my agency subscribes (i.e. pays for advertising) to the 3 portals. I really don’t care who knocks RM off the position we helped create if they can offer a viable alternative that gains traction with agents and punters alike. But I am not prepared to allow my agency to be screwed the way RM has screwed us all in its pricing.
I applaud fair criticism about OTM’s growing pains, but we are where we are and if my money enables Ian Springett to buy a new car while Miles Shipside agonises over the colour of his next Aston Martin, these are not my day to day concerns. My business’s running costs are, and on RM’s pricing trajectory, we shall be at £2,000 per month per branch within 3-4 years no matter what the market might do.
Like Brexit, those who advocate “No deal” are as short-sighted as those who advocate the demonization of OTM (or Ian Springett in particular) and are taking great risks with an alternative future, and for estate agency; particularly if the scene is then set for continued absurd rate rises. Which other bunch of idiots would roll over and allow a supplier to charge minimum 10% p.a. increases then seek to undermine the competition in the manner seen above ?
It seems obvious to me that OTM needs to compete with additional RM-style tools, but others will no doubt evolve; surely the best benefit of true competition. Equally, with our eyes open, once there is fair competition, we can and should abandon the portal that loses the plot. Currently, that is RM.
We still have the opportunity to create a truly competitive portal market, why would we blow that chance ? What interest is served by doing so ? I think we should be told, so come clean guys !
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Scuffy,
You are right regarding RM and i too would wholeheartedly support vocally and financially a true competitor which aims to keep costs down long term.
The issue i and others have with OTM is that is not what they are doing. They are replicating RM and that includes the fee. What is the answer? we back OTM for the next 5 years until they are £1500 per month then we start the process again and back the next portal that promises to be a good boy and not take advantage?
I do not know what the answer is, but its certainly not OTM. They are as bad if not worse than RM – at least RM tell us they are pulling our pants down. OTM just trys to slip in while whispering sweet nothings in our ear.
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If OTM got to the point of charging £1500 per month, they would be making heaps load of cash. The answer- keep hold of the shares, wait for them to hit 50 quid, then sell up and get a home in the sun, happy days.
But as Scruffy says, don’t moan about RM price increases, if you can’t see OTM are capable of offering an alternative to that being able to happen.
Once their best price guide tool is rammed with data, lots more Agents, I for one, will be off Rightmove.
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Helen Whiteley, OTM’s commercial director, said: “Following an agent feedback process, we are pleased to launch this range of products.
What was this consultation process ? Only had one discussion and this was at a meeting with business owners from the area and we all voted overwhelmingly to NOT offer this kind of product !
I think this is pampering to the Corporate Agents who have deeper pockets !
If all of the PAYING subscribers out there do not get drawn into this then it will not work.
Although a supporter of the original purpose of OTM, I now feel cheated. The original purpose was all members would be represented on a level playing field.
I will need to carefully consider whether I will be prepared to extend my contract at the end of the initial term.
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Reading Helen Whiteley’s email (Ian Springett decided to delegate the flak on this debacle) re “new additional products” ……my Question is this to OnTheMarket/OnTheMove
If you want the overwhelming support of Our Industry why introduce1st, 2nd & 3rd Class options – by doing so you confirm that you are NOT offering your best product or services to everyone – unless they pay extra, and those that don’t opt/or pay up are then paying for an inferior offering?
It’s hard to think of what calamity move OnTheMarket/OnTheMove are going to make next however it’s safe to assume as each part of the Jigsaw gets clicked into place we know what the final picture will be – another money sucking portal!
Cost savings for Rightmove though as no PR Dept/Offensive required – OTM/OnTheMove are doing it for them.
“Hi, Miles? …..it’s Ian here …..as we’re following you I need to get an Aston just like yours ….can I ask, where did you get yours?”
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If you want the overwhelming support of Our Industry why introduce1st, 2nd & 3rd Class options – by doing so you confirm that you are NOT offering your best product or services to everyone – unless they pay extra, and those that don’t opt/or pay up are then paying for an inferior offering?
Well said. OTM was born out of being “a mutual, where agents were to be treated equally and had a say”. That has disappeared and for those agents not as financially capable as some, are exposed to unequal treatment for extras which as a mutual originally intended, should be available to all. OTM are in danger of becoming a them and us club within, which breeds ill feeling and dissent.
As a platform RM are very good if you can or want to afford the cost. All they would need to do is maintain a price drop, to keep its membership (unlikely) as isn’t that really all agents are complaining about … the fee? OTM are now no different, currently just cheaper (milk it while you can) but no-one can see where they are going anymore. The only true thing about OTM is what they have done and its not the same animal and why many supported and joined. I am a founding gold member, firmly believe in the orginial concept of OTM but since the “take over” where is OTM going to end up?
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Fair enough. We won’t be buying any, but happy to see my competitors waste their money if they so choose.
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If OTM are offering the same services as RM and at the fraction of the cost then I’m in, as for those who say they will drop them once they have to pay, Bye bye! see you when you come knocking on my door to rent a property when your business has gone bust and you’ve lost everything through over spending on RM. Suckers!!
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Yeah HIT MAN….
Sounds PopPortalTastic!
I think you’ll be sucking something long before anyone comes knocking on your door.
Pop that Portal Tune on by Brittany …..”Hit me baby one more time” ……that’s the sound of the OTM Cash Register as those extra cost features/products dribble in.
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Would someone like to compare the noise of the cash registers at OTM and RM?
OTM
Ding, Ding, Ding
RM
Diiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiinnnnnnnnnnnnnnnnnnnnggggggggggg (my attempt at a constant ringing noise)
C’mon GPL, reveal the reason, in your extensive criticism of OTM, for your failure to offer a balanced view about the extortion racket they are competing with. Omerta ?
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Scruffy?
Whilst slapping you virtually/repeatedly about the ears with an OTM Pin Marker ……for your inane comment “C’mon GPL reveal the reason…..blah, blah, blah…..”.
Take my initials and after shoving them up Your Portal, retrieve them ……and then search PIE for all my OTM related posts, hopefully (and I doubt it!) your lightbulb may glimmer just a little brighter as you will understand my involvement with OTM ……and while you are at it, post your real name so I can enjoy seeing the person who posted such a lame/uninformed comment about me.
In the happiest of ways I award you the Dumb & Dumber Award for not doing your homework before commenting on GPL/me.
You made me laugh Scruffy…… “GPL & OTM?”
By the way, are you an Estate Agent, Rep, passer-by, Lounge lizard? ……or just visiting our planet?
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ontherightmove.com
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The additional products are optional all agents continue to pay the same rates and choose additional products if they want unlike, RM where you have packages, only agents and portal people know about portals and are the only ones concerned, the general public are not bothered all they want is a quick sale, best price, best service and reasonable fee, if your business is worth anything you don’t need RM. if continue with RM then you have to sell 3-4 properties a month just to pay them. I thought people on here were business men, clearly not
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HIT MAN…..
See last line of my above comment/reply to Scruffy ……which one applies to you?
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GPL I’m an agent who just wants a fair price portal to advertise my property I’m not interested in add on’s just want to own my business and not have a no risk partner with nothing to lose in the same was as the vat man.
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Hit man, OTM does not have a fair approach to agents. Some are tied into existing £400 per month contracts which only allow them to go with one other portal.
Some were on £50 per month contracts.
Some are paying nothing.
Some are given shares just to advertise, some are not.
How is that a fair and level playing field?
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This industry just gets worse and worse. I remember sitting in the initial pitch meetings Agents Mutual did, it was so laughably bad we didn’t sign up. This coupled with the rep that followed months later and basically stormed out of the office declaring “I thought this was going to be an easy sign up”.
We’re on a freebee now (because why not) but no way will we sign up to a paid package. The add-ons are completely against what the original concept (although I’m sure this was actually the plan all along).
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Can I suggest members have a referendum on new products etc? 😉
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It’s quite simple. Does it send more or less leads than Zoopla and Rightmove.
For my agency, since January 2019, I get many more leads than Zoopla and nearly as much as Rightmove.
On The Market is working and it can only be a good thing. Will drop Zoopla when I can, followed by Rightmove.
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