Regional News

Zoopla says it’s winning back customers from a rival portal

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Zoopla’s chief executive has branded rival portal OnTheMarket.com as a ‘failed experiment’ claiming his portal is winning back customers at a record rate, reports the Financial Times.

Alex Chesterman said Zoopla – which is the no.2 portal in the UK behind Rightmove – has won back over 600 agents from rival OnTheMarket.

OTM was set up in 2015 to compete with Zoopla and Rightmove, the UK’s two biggest property portals. The new player enabled agents to list properties at a much cheaper price than its competitors, but as the number two in the market, Zoopla was expected to suffer more defections says The Financial Times.

Ian Springett, chief executive of OnTheMarket.com, later hit back at Zoopla, saying: “While it clearly suits Zoopla Property Group to position OnTheMarket.com as a ‘failed experiment’, this only serves to underline again some inconvenient truths for Zoopla . . . OnTheMarket.com continues to grow and the number of agent branches listing on the website at the end of October had increased by 15 per cent year-on-year.”

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