Business Challenge - Estate Agents suffer from the duoply of RightMove and Zoopla, who, having created the digital authorities for listing property for sale, hold the Estate Agents to ransom, increasing membership and listing prices well beyond inflation or reasonableness. Accordingly the National Federation of Property Professional (NFoPP) called for a proposal for a new, independent property listing website with a strong consumer focus, run by and for all parts of the property profession.
- Our Role in the Solution - Our consultant was requested to join a challenger property listing organisation to respond to this cry for help from the industry. Our consultant led a wide-ranging investigation into the Property Listing industry and identified the key characteristics of a competitor service, to appeal to both the estate agents and the consumers with property yo sell or to buy
- The Outcome - A property listing platform was proposed and built. It was then presented under competitive tender to the NFoPP and RICS. Key to the proposal was (and remains) that the platform and the organisation behind it is run as a Mutual company, for the benefits of the industry. The site commenced operation irrespective of the outcome of the tender, which was won by OnTheMarket, who are regularly discussed on Property Industry Eye.
- Achievements - Property Mutual has been operational and profitable since it was created. It may yet come to replace OnTheMarket.
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