PYX Resources: Achieving volume and diversification milestones. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
in the space of 5 days they have gone from 4% - 5% and yet the price falls. Capital in the background buying.
Follow the money, as they say. Capital Group loading up. "The fund primarily invests in growth stocks"
I used to think the corporates and independents were 50 / 50 but it's not the case. Independent agencies make up 80% of the market with corporates only 20%. On the market now have over 4,000 offices signed up across the UK, it's going to be big and here to stay given you have to sign a 5 year contract.
Hi biffbaffboff, The reason the condition is too drop either Rightmove or Zoopla is we don't want this to be a 3rd property portal and third expense, we want it to be a 1st property portal. I'm extremely positive towards 'on the market' but why dumping Zoopla, rightmove has the stronger brand and is here to stay, it's a power house in the property world. Zoopla, I will have forgotten about in a year or two.
Hi holdenjim, Interesting, but why did you cancel Zoopla, and not Rightmove, considering the majority of your negativity is aimed at Righmove?
I own and run my own agency, I've been an agent for 20 years. I can confirm, I have just cancelled my membership with Zoopla, for all my offices. Rightmove was started by the agents but when it was floated, I have see my membership fees quadruple and the same with Zoopla, I paid £100 per month to Zoopla but last year and this year, its now £500, that's a five fold increase. The income for Rightmove is £140 million, the running of the business only costs £36 million per annum, therefore, £102 million profit goes to shareholders and a capitalisation of 2.1bn. Zoopla costs £35.5 million to run, generating an income of £65 million, meaning £29.5 million to shareholders and a capitalisation of £919m. As a result, Estate & letting agents have to pass these operating costs to their customers, keeping fees higher than they need to be. I do not think Rightmove & Zoopla will compete with a not-for-profit, cooperative (Bearing in mind by September 2014, they have already signed up 4,000 offices - That's a third of UK Estate Agents. As an agent, its a no brainer. The agents made Rightmove work but disillusioned with the rising costs, more interested in profit for shareholders. The new portal - On the Market - is for its customers and end users - NOT shareholders. From January 2015, a new property portal is to be Launched ‘On the Market’ and watch the others crumble.
I have also recently heard from a very reliable source the following story. There were a group of 6 or so agents in a region of the country who were all on both portals. They all started talking to each other about joining AM and working together to then get the best deal out of the two big portals so that they could decide who to drop. Doing this all together then wouldn't make a difference as to which one they were on and they would all get the best deal out of it. They wrote to both portals to arrange a meeting a discuss terms etc..for next year when they have to drop other portals. Zoopla wrote back, arranged a meeting with them and put forward a reduced fee for all from next year. RM...didn't even acknowledge the request. Who do you think they are dropping?
The other problem they have is they are not letting online agents or agents without high street offices list. The key to any portal being 'the best' is to have absolutely everything that is 'on the market'. Even if they get all high street agents signed up they are not going to have 'everything'. Just like RM and ZPG don't have everything right now. That's why I believe they are better signing up 16,000 agents (all types) paying £100 per month now rather than imposing tight restrictions and only managing to get less than 4000 of which some have loaned £2000 each. People are lazy and want to go to one site that has (almost) everything they are looking for, like ZPG and RM. Other portals like Find a Property, Need a Property, Nethouseprices and Mouseprice etc...just can't compete. Without a considerable marketing and advertising budget neither will AM. Not going about it the way they are anyway. As for ZPG they might see a small blip in the new year when the possible 4000 agents signed up to AM make their decision of who to drop but it will just be that, a blip. And all the other above mentioned portals will suffer as the stipulation isn't to drop one of the big ones, it is to drop all but one other portal.
I would have been more inclined to sign up if I wasn't forced to drop one of the others. If it works and OnTheMarket becomes the number 1 or 2 portal, then I can drop either RM or Zpla then. Might be slightly more expensive, but I won't lose anything. If I sign up now and maybe save a few pounds per month I risk losing half of my enquiries. Might not, but more likely to.
Agents Mutual have signed up less than quarter of agents so far. Most of the big national chains are tied in with both Zoopla and Rightmove for a number of years, so cannot drop either. The PUBLIC, who are the most important factor here, want a property portal that has most if not all properties that are available which is why they got to RM and ZPG. On the market will start in January with almost certainly less than third of all agents. The public are not going to go to a portal that has next to nothing on it and especially when the big chains (who generally have most of the property in any city) are not on there. I know in the city we operate in only 2 agents have committed to AM and they are independents. AM are expecting agents to clear their offices of all marketing for any other portal and you will only be allowed to use their marketing in your office and on your stationery, website etc.....Agents have to suffer the cost of reprinting and rebranding sites. AM have it all wrong IMO. They should have let agents stay with portals and build up loyalty from all agents over say next three years...so after 3 years they can be the only website that can truly say they have every agent and property that is available 'on the market'. FYI we are a very successful independent who only use Zoopla and are not committing to AM. Portal popularity is regional and gender specific too, RM is successful in one place but rarely used in others. ZPG is more favoured in London and with females. I have also asked the AM rep what their advertising budget is for the 1 st year, answer: £15m. When I suggested that isn't very much for national TV campaigns and convincing the public this is the site to go to, they replied that agents will need to push it. I asked what the budget is for the 2nd year, answer: Oh we don't know yet. Convincing? No. ZPG have spent £20m on advertising so far this year just to keep up with RM.
But with most agents dual listing their properties on both RM and Zoopla, they will not risk loosing anywhere near half their enquiries when dropping one of them and I can tell you that most will drop Zoopla. Many many agents signing up for Agents Mutual on 5 year agreements.
mmmm I wouldn't be too sure. Many agents I've spoken to are not taking the risk of dropping either rightmove or zoopla. it's not as if they are that much cheaper per month and with the tow old portals you know what you are getting. Big risk to drop one of them and risk half your enquiries dissappearing. Big shake up, agreed, but not sure if it's black and white.
With Agents Mutual signing up hundreds of agencies for the launch of onthemarket.com and the fact that those agents will have to drop either rightmove or Zoopla, income will be slashed for zoopla, as when the choice comes we know which one the agents will drop.
Property portals hand control to homeowners: One of Britain’s least popular professions, the high street estate agent, is facing a shake-up as the digital revolution finally reaches the business of selling and renting bricks and mortar.
A City analyst has said that the power of both Rightmove and Zoopla is increasing, with 70% of consumers wanting their properties on both sites
Property company Zoopla is proving to be a web wonder: Property company Zoopla reported record levels of web traffic in a first trading update since floating on the stock market in June.
Actually, not such a tight spread.
Large volume of buys so far today. Probably on the back of the Credit Suisse Broker recommendation yesterday. Very tight spread too.
Estate agents to launch new site to rival Zoopla and Rightmove: A group of estate agents announced that they had joined forces to create an online property portal to challenge the dominance of Zoopla and Rightmove. They said the portal would launch in January under the name OnTheMarket.
I wish it was as cheap as £300 per month. Most agents I know pay way more, however, over the last five years or so, it has definitely been Rightmove who have pushed and pushed and pushed. They charge extra just for having your logo showing. Rightmove a bit more complicated in there billing structure too. Zoopla better value for money, but only just. I can see Zoopla becoming more like rightmove now though as they will have shareholders to answer to. Profit, Profit, Profit!
If Rightmove charges a single office close to £1000pm to list on the portal and Zoopla charges a single office £300pm would agents choose to drop Zoopla? That's IF they choose to even sign up to Agents Mutual.
Closer it gets to the launch of Agents Mutual portal the closer this one is to the precipice - they rushed to market to cash in before it launches and IMO it will go over some time before the launch which is due in Jan will just require a few to lose there nerve and dump stock and then it'll resemble wildebeests on the banks of the Mara river - my guess is end of Q3 WTS
I bet those agents are regretting selling so quickly now! Couple of nice big buys today. We're holding ours.
seeing quite a few trades for 1136 which means quite a few selling their shares for a nice £500 profit.
Quite a lot I would have thought. Makes no difference to the AM situation at this time, as far as I can see. It's the offer next year which would be the stickler. You will have to still be a zoopla client then to receive the discount next year, and that would mean dropping RM to go with AM. Correct? That's how I read it anyway.