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http://www.propertyindustryeye.com/major-scottish-agent-announces-will-drop-zoopla/ Major Scottish firm CKD Galbraith has announced that it will be dropping Zoopla in favour of Rightmove. The firm, which is an Agents’ Mutual gold member, said it was “confident that this decision is in the best interests” of its clients. CKD Galbraith has branches across Scotland and employs 225 staff. The firm is also Scotland’s largest rural consultancy and has an associate firm in London, CKD Kenney Macpherson.
one of London’s largest estate agencies, has announced that it will be advertising on the Zoopla and PrimeLocation websites from JanuaryChestertons – whose announcement came via Wriglesworth, Zoopla’s PR agency – said that one of the main reasons for choosing Zoopla is that in London, Zoopla and PrimeLocation have “substantial market share”. Robert Bartlett, CEO of Chestertons and a founding director of Agents’ Mutual, said: “We have looked carefully at data collated over the past 12 months and the numbers clearly show that our properties get more views and our clients get more leads from the Zoopla and PrimeLocation websites when compared to other property portals. “Based on our analysis of the data, this was an easy choice for us. “On top of this, we have all been impressed with the speed at which Zoopla Property Group has been able to grow over the past few years and, from working closely with them over recent months, know them to be an exciting and dynamic partner that is always looking for new ways to improve its website and service offering. “The strength of the Zoopla and PrimeLocation brands in London and the south-east is clear and our clients expect to see their properties advertised on these websites. “We look forward to continuing to work closely with the Zoopla team in 2015 and beyond.”
Knight Frank, Savills and Strutt and Parker are all founding members of Agents Mutual (On the market) so they will be pulling off one of the major portals, however they peddle this site as the saviour of the independant agent bla, bla, bla though the founding members are certainly not in it to help us out. The KF,Savills and S&P are exceptions in that they are all capable of of suceeding with their own Company websites and forget the portals so they have absoultely nothing to lose and major upside when On the market is Sold. I think it will become apparently very quickly to On the Market customers that the level of enquires are not matching the financial outlay, then what, bye bye On the market, hello Zoopla.
Knight Frank to quit Zoopla Estate agent to quit property website for a new start-up to face the big portals
I am not a holder here - but On the Market, an NAEA initiative launches January 2015 with the caveat that all subscribers drop either rightmove or zoopla. I have done a straw pole of local agents and most seem to think that they will drop zoopla. It is possible that zoopla could be heading for a tough year in 2015. DYOR and GLA
Zoopla needs to renovate to keep investors coming through the door: Zoopla could do with a lick of paint, too. Shares in the house-hunting website fell another 6% on Tuesday to 179p, leaving the stock 19% below its June flotation price. Even rundown Cumbrian terraces aren’t losing value that fast. The underlying business seems to be doing OK. Buoyed by a still pretty gassy U.K. property market, Zoopla reported a 24% increase in sales for the year to the end of September and a 35% increase in adjusted earnings before interest, depreciation and other nasties. The 6% fall in basic earnings per share was apparently a one-off hit from the costs of the company’s summertime stock market flotation. The shares are still pretty generously valued – on a price-earnings multiple of about 26, putting them on a par with bigger rival Rightmove, where the key metric of success – the website’s so-called average revenue per agent – is twice Zoopla’s level. Rightmove’s market cap is nearly three times its smaller rival. Altogether more Kensington and Chelsea than Barrow-in-Furness. Zoopla’s spin is that this gives room for growth – but not if Agents Mutual is a success and squeezes the 40% share of the market Mr Chesterman currently claims.
Zoopla revenues rise ahead of rival’s launch: Online property portal Zoopla’s audience has increased by a third in the past year, helping to boost its revenues by 24% – but its share price has suffered as a new rival prepares to launch.
RMV has seen a recovery since its 20% (+/-) drop in August/September/October, however ZPLA is yet to rise again since its own 20% (+/-) drop in the same period. The expectation that Zoopla will be hit harder by the new OnTheMarket portal, may be the reason. The results next week might aid a recovery of sorts.
Looks to me SP is undervalued at least 1/3 compared to rightmove current SP based on share market ratio. My tramlines and double bottom, falling wedge and of course low trade volume may indicate reverse in trend. I hope news from Zoopla on 25th will be good enough to support my observation and break the tramline and go up to reach new heights and bring me some nice bonus for Christmas.
I would certainly love there to be! What evidence/research/tip off, have you seen to make you suggest this?
Are we bound for a huge share price increase?
The marketplace is getting overcrowded now, with the big two, plus " Agents Mutual". " Purplebrick" and " Padpeep" although I think the last one is slightly different.
Launch date of 26th January announced today with all gold and silver member agents only allowed to list on one other portal being either rightmove or Zoopla.http://www.propertyindustryeye.com/onthemarket-announces-launch-date/#comment-11408
Rightmove Plc (RMV.L) Announced in its interim management statement for the period from 01 July 2014 to date, that it has continued to see healthy growth in the last four months, building on its performance in the first half of the year. Average Revenue per Advertiser (ARPA) continues to grow as customers invest more on its advertising products to promote themselves and their clients more strongly. Its audience continues to grow with home hunters visiting more often, and searching and researching more property content than ever as evidenced by page impressions up 7% on the same period last year. The company’s overseas homes advertising business continues to grow strongly with customer numbers up 13% since the first half of the year to over 2,000. Audience figures set new records in the period with nearly 30 million searches, up 40% on last year.
To Uberdealer, the deadline for agents to sign for gold and silver membership was Friday 24th October. I envisage that an announcement will be made in the next few weeks to confirm the amount of agency branches that have contracted for 5 years and will be dropping either Rightmove or Zoopla.
Agents’ Mutual makes ‘one other portal’ exception for Scottish market. Surely you can't have one rule for Scotland! http://www.propertyindustryeye.com/agents-mutual-captures-scottish-market/
Agents Mutual have projected £Xm budget for advertising. They say they have 4,000 offices signed up but are yet to say whether they are gold or silver members. Gold members having paid £2000 in loan notes in advance (and signed up for 5 years) whereas Silver members merely sign a letter of intent to join in January ('Agents can sign up for Silver membership now without entering any binding contracts at this stage.'). So I suppose in January we will find out what that slender budget may be. I agree with Bountyhunter85 in that portals dominance is regional and read an industry survey the other day where it stated that Zoopla wasn't just most favoured in London it stated 'it owns London'. I'm an out of London agent and 95% of Londoners either enquire via Zoopla or PrimeLocation.
http://www.propertyindustryeye.com/funds-short-rightmove-zoopla-shares-bet-market-falls/
Time will tell on that one i suppose. Another thought ive had is just because something is new doesnt mean people will automatically use it, or even know its there. From what i can read AM have ~£7m to spend on advertising, which for country wide coverage isnt much, around my area Zoopla have 100's of bus stop ads, billboards, regular TV ads etc, even so 2 people i know (who have just purchased a new build home) never looked on Zoopla or really knew what it was! Just because AM is cheaper for agents and the best thing since sliced bread for you guys, its the public who look for property and im not sure AM will instantly become their first port of call when searching for propery. Its taken Zoopla since 2008 to get to Number 2 spot!
Benny88, there will be lot more than 30-40% of listings. One example being in South Shields there are 88% of listings going on to Agents Mutual and in some other parts of the country way in excess of 50% of listings. All this two and half months before launch. More importantly how many listings are coming off of Rightmove and Zoopla what sort of user experience will you have when you visit (for example) Zoopla in January?
I agree with whoever has signed up with Agents Mutual will drop Rightmove and some will drop Zoopla, as per the stipulation of "you can only be on one other portal". However lets not forget only circa a quarter of estate agents at the moment have signed up with AM, therefore whatever the split in favour of RMV/ZPLA is, its only on a quarter of signed up agents, so revenue loss, if at all wont be as significant as people are thinking! The other point ive noticed is the only people on here slating zoopla are estate agents themselves looking to save money, which is fair enough, however as portals are aimed at the end user, the public looking for property in this case, they dont care how much per month you pay (i appreciate these costs are passed onto the end users) they just want a portal where every property is listed in their area of search, not 30-40%! The public is lazy imo and if all properties arent listed, im not sure they will keep checking back to On The Market, back to RM/ZPLA they will go!
biffbaffboff, some agents will drop rightmove and some Zoopla a report by an independent analyst suggested earlier in the year that the drop off rate will be 40% Rightmove and 60% Zoopla and it will vary dependant on area as Zoopla and rightmove are the dominant portals in certain areas. I believe however that the rate will be nearer 25% Rightmvoe and 75% Zoopla. The end game plan for Agents Mutual is to get to number 1 and wipe out both rightmvoe and Zoopla, but to do that they must get to number 2 portal. So Zoopla will be taken out first and then Rightmove once Zoopla is taken care of.
Correction: Zoopla are the lesser of two evils.
Bounytyhunter85, 20% drop is not exclusive to Zoopla. Rightmove has droped from a high of 2520p in September to current 2004p. That's also a drop of 20%. I know a lot of agents who aren't budging, but also a few that are dropping rightmove. Why? Because rightmove are the lesser of the two evils. Do you think rightmove will change once zoopla disappears? No. They act the way they do because they are perceived to be the market leader. They will still be the market leader. However, Agents Mutual AND Zoopla can change that.
I've owned my own estate agency business for almost a decade and have in that time seen my fees go up astronomically with both Rightmove and Zoopla. Nearly all independent agents want change, and I've got to say that i'm amazed that some people have not yet cottoned on to what is going to happen to the UK portal market in 2015. It looks like Zoopla have had 20% wiped off their share price in the last month, if you think that's bad just wait until January when investors start to see that nearly all leading independent agents have come off this site and gone on to Agents Mutual/www.onthemarket.com.