OnTheMarket (OTM) claims it will keep from increasing listing charges in the coming years for agents currently paying their full fees.
The challenger portal - which has not produced any new agency membership figures for some months - is currently concentrating efforts on converting recent members on discounted or zero fees into full standard tariff contracted status.
It says it’s making the move because agents are curry facing “considerable headwinds” - a possible No Deal Brexit and a possible recession: lower than usual transaction volumes; reduced lettings fee income; and continuing procrastination by buyers and sellers.
It claims that its pricing pledge means agents who entered a five year listing agreement in February 2018 will enjoy a price freeze for their listings fees in 2020 rather than being charged an increase of up to five per cent as allowed for within the agreement.
In addition, those agents on that agreement who currently enjoy a 10 percent discount for choosing to observe the One Other Portal rule can continue to do so for a further year.
Agents on that agreement who revert to operating with One Other Portal before the end of January 2020 will also be eligible for the 10 percent discount for the year.
For agents on their original Gold and Silver agreements, the Pricing Pledge means they can roll into a new contract for a one, three or five year term with no increase in 2020 if they choose to continue to advertise on a maximum of one other competing portal.
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