PropertyMutual head has come out to accuse Rightmove, Zoopla, and OnTheMarket as being obsolete, specifically saying the three real estate giants are "corporate dinosaurs," and that their agents should jump ship from their respective companies and join PropertyMutual.
“The corporate portals do what you might expect of them – optimize investor value - which is fine except if you’re a fee-paying member” says Andrew Goldthorpe, chief executive of PropertyMutual.
“What you end up with is transitory discounts, ever rising rate cards, lock-in contracts and nowhere else to go” he adds.
PropertyMutual was launched in 2014 as a free portal by parent company Crevala, a mutual company set up a year earlier. The portal now has some 500,000 listings, obtained through a third party supplier.
Goldthorpe says his portal is now transitioning to a subscriber model, open to High Street and online agents for £10 a month. He says his service offers agents “real choice … no restrictions plus guarantees on mutuality, rates, profit distribution and more.”
In a recent statement, he says: “Expecting agents to sign complex lock-in, long-term contracts with temporary discounts and offering shares which need to be retained indefinitely is ‘Hobson’s choice’. This disdainful take it or leave it approach assures a corporate portal super profits but guarantees agents nothing.”
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