OnTheMarket: Working in Agents' Best Interests or Shareholders'?

May 19, 2020
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Once again proving that UK estate agents can’t agree on anything, two industry figures have given very conflicting verdicts about whether British portal OnTheMarket is truly a mutual organisation. Speaking to prominent commentator Christopher Watkin in Estate Agent Today, founder of OnTheMarket Trevor Abrahmsohn revealed the story behind the formation of Agents Mutual, the portal’s parent group, in response to price hikes from Zoopla and Rightmove.

Meanwhile, in another interview on the same channel via The Negotiator, Andrew Goldthorpe, CEO of challenger portal PropertyMutual, has claimed that his organisation is the only truly mutual portal. Goldthorpe, whose portal charges agents £10 a month for listing, revealed that PropertyMutual has a clause in its association contract to prevent it being listed on the stock market and asserted that any PLC company will inherently be driven by its shareholders’ interests.

Both interviews are well worth a watch via the links above and reveal a lot about the underlying sentiment in the British estate agency world which can no doubt be extrapolated to apply to other similar markets where agents are coming under increasing financial pressure.

May 19, 2020
Edmund got to know the world of portals and marketplaces working at Mitula Group (which became Lifull Connect after the buyout in 2018). He worked directly with hundreds of portals across the world in his role in the content department for three and a half years before transferring to the SEO department to understand the inner workings of listings sites. He joined Online Marketplaces as Head of Content in March 2020.

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