Leading local estate agent Mullucks Wells is welcoming the arrival of a new property search service, describing it as “the revolution the industry has been crying out for” and “a game-changer for agents, buyers and sellers alike”.
From Monday 26 January, OnTheMarket.com will be the new website to view hundreds of thousands of properties to buy or rent all over the UK. The property portal is 100% agent-owned, providing member estate agencies with an unprecedented level of control over its management, listings and charges.
Commenting on the launch, Mullucks Wells Residential Director William Wells said: “Until now there have been just two national property portal leaders out there - Rightmove and Zoopla/Primelocation – and as an established duopoly, they’ve been able to charge increasingly exorbitant fees. The difference with OnTheMarket.com is that it’s mutually-owned by the agents involved, all of whom have had to agree to move the advertising of their properties away from one of the current portal leaders. Many of us believe it has the power to disrupt that duopoly permanently.”
So far, more than 1,900 full-service, office-based estate and lettings agents have signed-up, providing over £8m of development funds. The website is planned to reach the size and scale of Rightmove and Zoopla but is to be charged to agents at cost, and is the only portal to be endorsed by both the National Association of Estate Agents and the Association of Residential Letting Agents.
William Wells added: “The experience of people using the site is absolutely key. The property search will be slick, simple, fast and state-of-the-art. There’ll be no clutter from irritating and distracting third party ads; no spam mail; no spurious online valuation tools. Just hundreds of thousands of UK properties to buy or rent at all price points all across the whole of the UK.
“Every property you'll see at OnTheMarket.com will be on the market with a locally-based estate or letting agent like us, with years of expertise on the ground. Buyers, sellers and landlords can have the confidence that they can speak face-to-face with the very same agents who are marketing any of the properties on the site.
“It is by far the most serious challenger to property search services in recent years. From the end of this month, neither Rightmove nor Zoopla will be able to claim they cover the entire market. So if you're in the market to move home, you won't see all the properties on the market if you don't search at OnTheMarket.com.”