The chief executive of property portal challenger Agents Mutual has hit back at leading online property players, claiming they have “failed to acknowledge” the strength of agency dissatisfaction.
The comments come after Zoopla Property Group yesterday said in a trading update that it did not expect new challenges in housing to have a “material impact” on its business, adding that it would take “effective action” to compete with rivals.
Agents Mutual, founded by Savills, Knight Frank, Strutt & Parker, Chesterton Humberts, Douglas & Gordon and Glentree Estates, intends to roll out a new property listing portal on 26 January, to be known as On the Market, to challenge Rightmove and Zoopla.
The new platform requires agents that sign up to commit to listing with On the Market and a maximum of one other competing portal, in a move aimed at eroding the market share of the established players.
On the Market chief executive Ian Springett said: “It is our belief that Rightmove and Zoopla have failed to acknowledge the strength of the dissatisfaction felt by many estate and letting agents over the existing portal market duopoly. This is evidenced by the fact that thousands of agents have already signed up to switch from them and use the new portal when it launches on 26 January.
“From this date, neither Rightmove nor Zoopla will be able to claim it covers the entire market because many estate and letting agents will be leaving them to join On the Market ,which will create a unique set of listings.”
