OTM acting CEO Clive Beattie has said he believes that the Coronavirus crisis is a defining moment for agents and gives them the opportunity to significantly disrupt the status quo in the portal market.
Beattie also says he is aware of the vocal campaigns being led by some agents to end the dominance of Rightmove and Zoopla, and believes the changed financial landscape created by the pandemic is driving agents to reassess their marketing costs in both the short and long term.
54-year-old Beattie is the portal’s former Chief Financial Officer who stepped up to become its acting CEO after the dramatic exit of Ian Springett on 9th March this year.
Captured during a video interview for the Edison Group, the portal’s City consultancy firm, Beattie says he has “never seen agents so galvanised to effect change, or aware that the power is in their hands”, he claims.
“The portals market has lacked competition for years and that’s why OTM was created in the first place, but because of that agents have seen their portal costs rise dramatically.
“I think the very unfortunate COVID crisis could be a catalyst to change things and we are seeing a very vocal agency community arguing that now is the time for change, and arguing against a return to the ‘old normal’.”
Beattie also revealed that the company has recently launched two new kinds of paying contract which offer agents shares in return for paying a full tariff rate for 12 months that, because of the crisis, has been deferred until after he crisis is over.
Read more about OTM and the crisis.
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