Rightmove, Zoopla, vs OnTheMarket: Valuation & Buyer Leads
Former Managing Director, Foxtons
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Rightmove, Zoopla, vs OnTheMarket: Valuation & Buyer Leads(May 7, 2024)
Former Managing Director, Foxtons
Interview Transcript
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Let's say you get the property, you list it. You put the instruction, you list it on Rightmove and Zoopla, and you get 100 applicants from each. How do you measure which listings you are paying for? You're also paying for the buyer leads, effectively. You list the property on those portals, but you don't measure where the lead comes from. You don't track where the person who buys it comes from
You don't really care because it's not the aggregator that is generating the quality of the lead. It's the price of the property and the photo. I've just put a property on the market for a million quid and I'm not getting many viewings. My wife suggested we should have listed it at 950,000. It's not Rightmove and Zoopla's fault that no leads are coming in. I bet the ones listed at 925 on Rightmove and Zoopla are generating loads. So, we wouldn't look at the quality of the applicant or where the buyer came from. That was down to the quality of the listing, which includes the address, images, price, etc. If it looked great, and by great I mean, "Wow, what an amazing street. I want to live there. What an amazing photo. I want to be there," and "What an amazing price. That's good value," that's what would eventually generate the buyer.
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