Competitor Set To Launch Against Rightmove And Zoopla
UK estate agent’s in their masses have joined forces in rebellion to the ever increasing costs of advertising on Rightmove and Zoopla, with a plan to create a new online platform to advertise their stock.
Over 500 agents have signed up to what is being called Agent’s Mutual, and some of Britain’s biggest agents have declared an interest in the website. The battle for the UK property portal market has always only had 2 players, Rightmove and Zoopla, but with ever increasing costs from the two, it is no wonder estate agents who are already on tight profit margins are standing up against the giants.
Some estate agents have seen rises of 50% in costs for advertising over the past two years, and industry specialists are claiming that now is the time for an uprising.
Together the group have put together £6M in an attempt to create and brand the new service, as well as promote it to the general public.
Douglas & Gordon executive director Ed Mead said: “Agents’ Mutual will be a search engine purely designed for searching for property.
“No ads and the knowledge of thousands of agents to get the very best experience for the consumer.
“Actually using the existing duopoly’s sites is not good, and all of data they use as their own research is ours.”
Zoopla currently operates its own site and powers other domains using property searches, such as national and regional newspapers.
Mr Mead said the new co-operative will benefit from its on-the-ground knowledge.
“We wish to control it, which is not unreasonable, and use it to produce coherent and consistent data,” he said.
Do you think there is room for another property portal in the UK? Do you think £6M is enough to tackle the huge advertising budgets of Rightmove and Zoopla? Leave your comments below!