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On The Market will not carry third party ads

Posted by: In: Real Estate 14 Nov 2014 Comments: 0 Tags: , , , , , , , , , , ,

The portal, which is owned by Agents’ Mutual, is designed to tackle the duopoly of Zoopla and Rightmove in the UK industry. The site has already made headlines amid controversial spats between the agents behind the site and the online estate agency sector, which has been banned from listing properties on it.

Indeed, some have branded the site as an “illegal cartel”, while others have expressed concern over its rule only allowing those who list with them to list their properties on one other portal – which would force customers to choose between also using Zoopla or Rightmove.

Agents’ Mutual’s board includes such established names and high street businessses as Savills, Knight Frank, Strutt & Parker, Chestertons, Douglas & Gordon, Glentree Estates, Kinleigh Folkard & Hayward, Spicerhaart and Rook Matthews Sayer.

Chief Executive Ian Springett has now announced that in addition to online estate agents, On The Market will also not feature “irritating and distracting third party adverts”.

The site, which launches on 26th January 2015, will also feature “no potentially misleading valuations based purely on historical statistics”.

“When it comes to accurate valuations, there is no substitute for an estate or letting agent’s detailed knowledge of a property, the local area, the current market conditions and the vendor’s/landlord’s personal circumstances,” added Spingett, in what has been received as a dig at Zoopla’s highly publicised and popular valuation information.

UK, Industry Issues

Source: The Movechannel


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