PORTals
Oh, what a tangled
web we weave...
...to generate a useful lead. Andrea Kirkby looks at how property portals
are evolving and which business models appear to work best for agents.
he property market is having a increasing traffic by 26 per cent month-on-
T
dreadful time and property month, with Nestoria and Globrix enjoying
portals have been no 15 and 18 per cent growth, against a
exception. Internet research market average of just nine per cent.
company Comscore’s But meanwhile, some of the other first
December 2008 figures generation portals – particularly
showed portals’ traffic dropping 16 per fish4homes and the Trinity Mirror
cent year-on-year, compared to growth in network – have been slipping. And the
overall web traffic of 11 per cent. Is it all up NAEA’s own site hasn’t made inroads; it’s
for property portals? still light on properties listed and hasn’t got
Certainly there’s a lot of change to the top ten in terms of traffic.
happening in the market. Alex What’s particularly interesting is that
Chesterman, CEO of Zoopla says, “The many of the second generation portals are
market is being transformed – there is a embracing new business models, rather
shake-up happening.” than the monthly-subscription listings
Second generation portals, such as model used by Rightmove and others.
Nestoria, Globrix, and Zoopla, are taking For instance Zoopla has evolved a pay-
an increasing share of traffic and moving per-lead model instead of fixed fees and
up the rankings – though the ‘gorilla,’ 12-24 month contracts. The estate agent
Rightmove, is still dominant. They’re Primelocation, a first generation portal has lists properties for free and only pays if a
growing fast – March showed Zoopla merged with Findaproperty lead is generated.
12 JULY-AUGUST 2009 PROPERTYdrum
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