Portal wars look to be back on the agenda with Zoopla yesterday hitting out at ‘new and exclusive’ listings – as seen at OnTheMarket for the first 24 hours.
Zoopla claimed in a press release, which did not mention or refer to OTM by name, that there is very little appetite for exclusive previews.
OTM labels such previews as ‘new and exclusive’ and has built its latest TV advertising around exactly that feature.
But Zoopla said that its research among over 2,000 vendors showed that just 19% are happy to have their property listed “on a single portal, with a smaller audience, for the first 24 hours”.
The press release said that 2,000 branches have recently joined Zoopla – specifically picking out big names KFH, Carter Jonas and Humberts, all of which have returned to Zoopla, although still listing at OTM.
The press release went further than saying that there was simply a lack of interest in ‘new and exclusive’ marketing. It said: “Vendors are overwhelmingly against restrictive clauses that specify exclusivity periods when marketing their properties for sale.”
Zoopla said 65% of vendors want their home to be listed on multiple property portals from day one, to ensure the largest possible audience.
Zoopla says its own listings have risen by 9% year on year, while traffic was 58m last month – a swipe at OTM’s latest announcement to the stock exchange, which said it had record traffic in May of 25.4m visits.
Charlie Bryant, managing director of Zoopla, said: “These findings are loud and clear.
“On the whole, vendors simply do not want to limit the number of eyeballs that see their properties.
“Strategies that seek at the start to limit a property’s marketing will prolong the time a property is on the market and limit actual numbers of all-important leads upfront.
“Properties that languish on the market are also at risk of selling at lower prices. In the current market, sellers cannot afford to miss the boat.”
The wording of the questions is below, as supplied by Zoopla:
When selling your home would you like your agent to market your property to
|The largest possible audience, from day one, on multiple property portals||1,305||65%|
|A smaller audience, getting a preview of “new and exclusive” properties for the first 24 hours, on a single portal||384||19%|
|I don’t care||314||16%|
A spokesperson for OTM said: “Our new and exclusive property listings are given extra prominence at the top of the search results and in property alerts.
“Each one has a special presentation with extra pictures to showcase the property and to flag the fact that it has just come on to the market.
“OnTheMarket displays thousands of new properties each month 24 hours or more before Rightmove or Zoopla.