OnTheMarket says they will inject much needed competition into the marketplace

Friday 09 January 2015

The direct competitor to Rightmove and Zoopla – OnTheMarket.com – will launch on Monday, January 26, 2015.

The arrival of OnTheMarket.com is a game-changer for the property portals market because from the end of January, neither Rightmove nor Zoopla will be able to claim they cover the entire market with their listings and property-seekers will have to check OnTheMarket.com to see a complete market picture.

The launch of OnTheMarket.com is one of the most talked about and eagerly awaited events in the property industry. Currently, more than 4,000 estate and letting agent branches are part of the new venture and consist of large, medium and small sized firms. Eighty per cent of its members have three or fewer offices. It is expected many more agents will join in the coming weeks as momentum grows and indeed after launch when they have seen the website.

Ian Springett, Chief Executive, said: “We will inject much-needed competition into the marketplace and disrupt the existing duopoly which have been generating super-profits for their shareholders at the expense of estate and letting agents for too long.

“We believe we are in a position to launch an outstanding website which will serve property-searchers, estate and letting agents and their clients more effectively than the market incumbents. As a mutual business without shareholders, we will aim to reduce fees for agents over time and focus on the consumer search experience.

“For agents, we will aim to help them regain control of their content, advertising costs and market position. We believe both Rightmove and Zoopla have failed to understand the strength of the dissatisfaction felt by many estate and letting agents over the existing portal duopoly. This is evidenced by the fact thousands of agents have already signed up to switch from them and use our new portal when it launches on January 26th.

“Our state-of-the-art website design is clearer, cleaner and fresher than the existing main portals while the search function is simple without irritating and distracting third party adverts or unnecessary features. The site will adapt automatically to fit the screen of any device used to view it. There will not be any spam mail, just thousands of UK properties for sale or to let presented in the simplest and clearest way possible. We will be ploughing profits back into the business to constantly improve the search experience."

To raise its profile among consumers, OnTheMarket.com is creating a multi-million pound TV advertising campaign which will feature on prime-time TV as well as national press adverts and plenty of online marketing.