Zoopla pulls in the corporates and gives their CEO's seats on it's board

The UK’s three largest estate agent groups – Countrywide, LSL and Connells – have signed up their long-term support to Zoopla. In return, the three respective chief executives – Grenville Turner, Simon Embley and David Livesey – have all been given places on the Zoopla board of directors. Could this be a Rightmove take II and will the corporates fair better on Zoopla than the independents?

The corporates’ move to support Zoopla would have been unthinkable a few years ago, when Rightmove’s founding shareholders were Countrywide, Halifax (now part of LSL) and Connells.

Under the agreements with Zoopla, the groups will advertise all their properties on and provide additional marketing and advisory support to Zoopla as it strives to win the battle of the portals.

Between them, the three chains operate more than 2,000 high street branches across the UK under a variety of brands including Hamptons International, Bridgfords, Reed Rains, Your Move, William H Brown and Barnard Marcus, and have combined annual revenues in excess of £875m.

Each of the agent groups plan to work closely with Zoopla on a variety of initiatives to maximise the online opportunities for all Zoopla agent members and the industry.

Grenville Turner, CEO of Countrywide, said: “Zoopla has become an important player and leading innovator in the online property sector. This partnership further enhances our online strategy and will serve to maximise the benefits for each of our brands online.”

David Livesey, group CEO of Connells, said: “We look forward to helping Zoopla to build on its success to date.”

Alex Chesterman, Zoopla’s founder and CEO, said the decision of the big chains to endorse Zoopla as a business partner was testament to what his company had achieved in the last two years.

Asked how independent agents would react to the involvement of the big corporates, he said: “Our focus remains on ensuring that we are the best place for consumers to find property online and are the most efficient online marketing partner for all our agent members, whether groups or independents.

“These partnerships will allow us to better understand and serve the needs of the agent community and maximise the online opportunities for the industry as a whole.”

A big question for independents must be at what cost are the corporates on Zoopla per branch?

source: main body from EAT

Property News