The question no-one is asking, but fundamentally the only question that counts.
It doesn't matter what the portal will look like, whether the tech is any good or whether consumers will even turn up.
All Agents' Mutual needs to succeed is recruit agents and have those agents take their money (and listings) away from one or t'other of the UK portal duopolists.
With 3,000 agent branches out of c.16,000, they make a dent. With 5,000, Rightmove and Zoopla's stock prices will tank, and all people (equity analysts, investors and journalists) will talk about is Agents' Mutual.
More on Agents' Mutual
Not only has Zoopla Property Group kept Primelocation going, but it has begun to really spend money on outdoor advertising to promote Primelocation.com. And people don't spend money without a reason.
By all accounts, this Agents' Mutual is already a success. But for many agents sitting on the fence and many more property owners who have never even heard of this initiative, the success of this portal will come in the form of consumer traffic.
I think the fence-sitters and the public just don't matter for Agents' Mutual to succeed. Let me explain:
This is the question no-one is asking, but fundamentally the only question that counts.
All Agents' Mutual needs to succeed is to recruit agents and have those agents take their money (and listings) away from one or t'other of the UK portal duopolists.
In the true 'combative' tradition of Agents' Mutual, the logo is very RAF (British Royal Air Force).
And there is the deafening chorus of traditional estate agents screaming "Yes!". For years high street agents have been crying foul that Rightmove allows For-Sale-By-Owner sites to sneak listings next to theirs.
Rightmove and Zoopla will be dramatically effected by OnTheMarket.com. The Pundit explains the story so far.
Trulia makes almost as much revenue as Zillow. Trulia and Zillow have been level-pegging on most metrics for a few years, then Zillow suddenly flicked the turbo and both audience and market cap increased a gap to Trulia.
In a smart move, the not-yet-launched competitor portal has announced its brand name to 'hurry up' those agents who were concerned about the lack of a name.
This is well worth reading, if you're into this emerging portal war story.
Everybody wants to build a property portal:
Estate Agents who are annoyed someone else is making money; techies who find the home search a pain (it is); former investment bankers who think 'fixing real estate' is the next big dot com gold mine.