RE: Housing market20 Jan 2021 21:24
It may be you that isn’t the cleverest. Either that or you don’t understand a duopoly or haven’t done your research. Or perhaps all three.
OTM suffered from their initial marketing strategy of insisting agents drop either RM or Zoopla. Very few business owners are going to drop a major lead source for an unproven rival, let alone en masse. It has been abolishing this strategy that has allowed significant growth in agent take up. RM are indeed loathed by agents for their relentless price increases but still provide quality leads. As OTM sign up more agents, RM’s position is further weakened, however the problem I foresee for OTM is that in order to increase income, they will at some stage have to increase fees to agents. This may prove difficult if they’ve billed themselves as the cheaper alternative, especially if they still aren’t competing on lead numbers.