Any recommendations for property portal?

[Simon]

Has anyone looked into this before? With regards to software or turn key scripts do you have any recommendations great?
I'm looking to set up a simple site allowing agents and members of the public to list residential and commercial properties to buy or let.

 

[martin-s]

In what respect Simon?

 

[Simon]

Martin thanks I've updated my original post as having reread it I couldn't have made it any more vague if I'd tried. Thanks for the interest.

 

[bensd]

I really wouldn't bother...

 

[martin-s]

I'd say this is close to being the most overcrowded online market in the UK. There is no money in starting up a new property portal. We run one of the industry's more established estate agency software companies and we get requests to feed new startup property portals more than once a month.

The majority don't have traffic, don't deliver leads and therefore don't get a feed from us.

Agents don't have time to manually feed startup portals, even free ones. You're route to market has to be through the software providers.

 

[Simon]

Thanks for the heads up Martin.

 

[bonusmedia]

I'd say this is close to being the most overcrowded online market in the UK. There is no money in starting up a new property portal. We run one of the industry's more established estate agency software companies and we get requests to feed new startup property portals more than once a month.

The majority don't have traffic, don't deliver leads and therefore don't get a feed from us.

Agents don't have time to manually feed startup portals, even free ones. You're route to market has to be through the software providers.

What do you think about OnTheMarket?
Wondering if it's time to sell the RightMove shares

 

[martin-s]

Outside of London where Zoopla is very strong due to their brand marketing spend, almost every agent who lists on OTM is going to drop Zoopla, not Rightmove.

That's *if* OTM is able to enforce their two-portal rule without falling foul of competition law.

I was originally expecting OTM to flop and die a horrible slow death like NAEA's PropertyLive brand did, but feels against portal pricing are actually pretty strong. Also. both of the agents in my village are now showing *only* OTM branding on their front doors which I was surprised by.

I saw a strong buy rating on Zoopla's shares last week too, so someone is going to get it spectacularly wrong.

If I held RM shares, I'd probably sell half now and hold the rest and re-evaluate in June. OTM is anti-online agents and if it is genuinely successful, the loser out of Zoopla and RM could even become the private seller site that changes the game.

PurpleBricks.com have £7m of investment just from Neil Woodford's new investment firm too. By backing high street agents, I can't help but feel that OTM are shutting the stable doors after the horse has bolted.

Online agency (or hub-based agency) will be a significant part of the market in 5 years time. Our software powers a 25-ish branch online agency franchise already, and they're not the only one.

 

[bonusmedia]

Outside of London where Zoopla is very strong due to their brand marketing spend, almost every agent who lists on OTM is going to drop Zoopla, not Rightmove.

That's *if* OTM is able to enforce their two-portal rule without falling foul of competition law.

I was originally expecting OTM to flop and die a horrible slow death like NAEA's PropertyLive brand did, but feels against portal pricing are actually pretty strong. Also. both of the agents in my village are now showing *only* OTM branding on their front doors which I was surprised by.

I saw a strong buy rating on Zoopla's shares last week too, so someone is going to get it spectacularly wrong.

If I held RM shares, I'd probably sell half now and hold the rest and re-evaluate in June. OTM is anti-online agents and if it is genuinely successful, the loser out of Zoopla and RM could even become the private seller site that changes the game.

PurpleBricks.com have £7m of investment just from Neil Woodford's new investment firm too. By backing high street agents, I can't help but feel that OTM are shutting the stable doors after the horse has bolted.

Online agency (or hub-based agency) will be a significant part of the market in 5 years time. Our software powers a 25-ish branch online agency franchise already, and they're not the only one.

Thanks - appreciate the insight.

I read the pitch decks for EstatesDirect and EasyProperty, certainly seems like the online-first model is coming of age. Probably means some almighty battles for market share in the next few years