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The wholesale ritual slaughter of agents coffers by the digital portals, is as predictable as inflation. They have the Residential Property Industry by the \u2018Jackson Pollocks\u2019 and they are using their power to feed their glutinous 74% profit margins and twas ever thus.<\/strong><\/p>\n Acting as a buttress against the ravenous other two portals<\/strong><\/p>\n May I remind the \u2018lemming like\u2019 agents that I worked selflessly, like a trojan, without any remuneration and lost a third of a vital loan that was needed at the time, by starting OnTheMarket.com (OTM), some fifteen years ago, for the sole purpose of providing a buttress against the ravenous appetite of the two other portals \u2013 Rightmove and Zoopla.<\/p>\n The Sheriff that kept law and order in Dodge City<\/strong><\/p>\n Yes, it did take a while to gain traction, which was only to be expected, but with proper funding this could have been \u2018The Sheriff that kept law and order in Dodge City\u2019. Instead, the na\u00efve and \u2018wet behind the ears\u2019, former board at OTM decided in their wisdom, to \u2018sell their souls to the Devil\u2019 by not only crystallising a thumping 33% loss on the issue price of the shares, but at the same time gave up all vestiges of control of portal fees for the agents, in the digital portal space.<\/p>\n Need we be reminded that most enquiries today start on-line and to have these \u2018money grabbing pariahs\u2019 with their foot on the throat of the estate agency world, is an ignominious spectacle.<\/p>\n Overtures of the ill- judged energy policy of Germany\u2019s Mrs. Merkel, when she allowed her beloved country to be 40% energy dependent on the despot Mr. Putin, springs to mind!<\/p>\n Explore today<\/a><\/p>\n <\/center><\/div>\n Stop the tide, it may be more efficacious<\/strong><\/p>\n Whilst Shaun Adams, of Cooper Adams, laudable attempts to call for an investigation into the portal\u2019s charges is all fine and dandy, frankly, I am afraid to say that the chances of him succeeding is a smidgeon short of zero and in my humble opinion, if he tried \u2018to stop the tide\u2019 it may be more efficacious.<\/p>\n When I invited the \u2018great and the good\u2019 of the residential agency world to a secret meeting in Zafferano\u2019s cellar room on the 22nd November 2010, everyone looked to me as to why they were attending such an august gathering without a formal agenda.<\/p>\n Fleece the agents until the pips squeak<\/strong><\/p>\n I recall my opening remarks, \u2018Gentlemen, as China\u2019s \u2018Belt and Road\u2019 world domination plan is based on a fifty-year gestation period, the agents outlook on our industry has a two week horizon.\u2019 They asked me what I proposed by way of a solution and I said we must have a utility, digital portal, owned and controlled by the estate agency industry, in order to counteract the avaricious and predatorial instincts of the existing portal world, which are hell bent on a desire to fleece the agents until \u2018the pips squeak\u2019 (credit; Denis Healey in his speech in Lincoln, February 18th, 1974).<\/p>\n Thumbscrew to tighten further around financial genitals<\/strong><\/p>\n I wouldn\u2019t wonder that Zoopla and OTM (the latter now owned by CoStar), as night follows day, will do the same and the thumb screw will tighten further around the financial genitals of the agents, ad nauseam.<\/p>\n Don\u2019t say I didn\u2019t warn you!<\/p>\n By, Trevor Abrahmsohn, Glentree International<\/em><\/p>\n","protected":false},"excerpt":{"rendered":" The wholesale ritual slaughter of agents coffers by the digital portals, is as predictable as inflation. They have the Residential Property Industry by the \u2018Jackson Pollocks\u2019 and they are using their power to feed their glutinous 74% profit margins and … Continue reading Stay ahead with the newest updates and property listings. <\/h3>\n