War of the property portal

property portal

Selling a property on the open market can be an uncertain process at the best of times, but now it seems you have the added risk of potential buyers not seeing your property at all if your estate agent picks the wrong property portal to list your home on.

Up until last year Rightmove and Zoopla dominated the online property portal market. A group of estate agents weren’t happy about the amount of power those portals wielded and so decided to start their own, which heralded the birth of OnTheMarket.

Despite heavy marketing investment, OnTheMarket has recently seen an exodus of estate agents after a row about fees and it seems the rival property portal is not fairing well.

According to data from Hitwise, OnTheMarket has just a 2% market share, versus 67% for Rightmove and 31% for Zoopla.

Danny Luke, managing director for Quick Move Now, comments:

The reality is that most people now search for their next property online using one of the property portals and when you register your property with an estate agent you’re trusting them to get your property visible in the right places, to attract the right buyer.

We’ve previously covered how estate agents aren’t always upfront and honest when trying to get your property on their books, and that includes telling you what sort of audience your property might have on a property portal and trusting them to select the right property portal to list it on.

Unfortunately every aspect of selling your property on the open market is unpredictable; how long it will take to find a buyer, what price you’ll achieve and the likelihood of any offer successfully progressing to a completed sale.

If you just want a simple, straight-forward house sale, with a guaranteed offer and a timescale to suit your needs, the only way to achieve that is with a genuine cash home buyer like Quick Move Now.

This content was written by Quick Move Now
Published on 17th May 2016
Last updated on 5th September 2018

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