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.