Online estate agents SellMyHome.co.uk have today released an open letter to vendors warning them of the developments in the bricks and mortar estate agent market that may adversely affect the sale price of their house.
From January 26th 2015, over 1,900 estate agent firms will be part of a group called Agents Mutual who are launching a new property portal called OnTheMarket. Members of Agents Mutual will advertise their properties on the new portal OnTheMarket.com and on only one of either Rightmove or Zoopla. Previously all properties were marketed on both Rightmove and Zoopla to maximise their visibility. SellMyHome.co.uk markets all of its properties on both Rightmove and Zoopla as well as other major portals.
According to a HitWise survey in January 2014, 28% of portal users don’t visit Rightmove and 35% of portal users don’t visit Zoopla. Estate agents that market on only one of these portals are clearly depriving their customers of the best service and visibility possible.
Will Clark MRICS, Director of SellMyHome.co.uk explains:
"We felt that this message needed to be communicated to future vendors who may be unaware of the upcoming changes in estate agent practises. There is no justification for reducing the visibility of a vendor’s property and we are amazed that so many estate agents are putting their own interests before those of their clients.”
The letter from SellMyHome explains why vendors need to be aware of this development and recommends asking their estate agent if they are a member of Agents Mutual:
A group of Estate Agents calling themselves Agents Mutual is launching OnTheMarket.com today and there are a few things that they may not have told you.
Any estate agent that is part of this group is contractually obliged to market your property on ONLY ONE of Rightmove or Zoopla. Previously, a vendor’s property would have appeared on both. We don’t think this development is in your best interests…
Rightmove monthly visits: 90,000,000
Zoopla monthly visits: 42,750,000
Are you sure you want your property to be on only one of these property portals?
At SellMyHome.co.uk we ensure our clients have maximum visibility and would never dream of limiting a property to only one portal. We are amazed that so many estate agents have agreed to join Agents Mutual in a move that puts their own interests above those of their customers.
We will continue to use all the resources available to us to help our clients sell their home at the maximum price and with the minimum of fuss.
If you want to maximise the visibility of your property make sure your estate agent isn’t a member of Agents Mutual - the best way to find out is to ask them.
Will Clark MRICS
Director at SellMyHome.co.uk
The letter has been sent via email to all of SellMyHome.co.uk’s clients and registered buyers. A copy has also been sent to the Home Owners Alliance, the BBC Watchdog programme, Martin Lewis at the MoneySavingExpert.com as well as a number of consumer focused communities.
At SellMyHome we hope that this message reaches as many vendors as possible to raise the awareness of what these estate agents are doing. If you have a friend or family member looking to appoint an estate agent in the coming months, make sure they know. Share this letter today: