In the same week that Rightmove announced strong financials and an uptick in ARPU, an independent piece of research revealed no shocks at the start of this week's Product and Service Roundup...
According to recent survey results, over eight out of ten property professionals visit Rightmove first when researching a property to buy.
The Federation of Independent Agents (FIA), polled 168 senior property-related professionals in the UK, on which portal they would turn to first when they begin their search for a property.
85% of respondents said they would go to Rightmove first, with the other 15% of respondents equally splitting their searches between Zoopla (5%), OnTheMarket (5%) or visiting a local agent or their website (5%).
Graham Lock, chief executive at FIA, said:
"We all know that the majority of the general public go to Rightmove first in their search for a property but this survey was aimed at property professionals from within the industry who have a deeper knowledge and understanding of how the market really works.
"Votes came in from various directors, CEO’s and the like from within the property world. We had votes from senior portal figures, suppliers and estate agency business owners of all sizes including corporates and independents."
"OnTheMarket are planning a significant marketing campaign in the near future as they plan to eat into some of Rightmove’s market share dominance but as we’ve seen in the past it’s a tough nut to crack not only altering the behaviour of the general public but also from professionals within the industry.
"Maybe this gives a clue as to why Rightmove recently rejected takeover approaches, they’re clearly out on their own at the moment when it comes to property search, specifically as to the first port of call."
Other findings by the FIA include recent survey results that showed less than a fifth of agents have seen a rise in leads from OnTheMarket since CoStar Group purchased the portal in October 2023.
UK challenger portal Jitty has introduced a 'search by travel time' option in partnership with TravelTime.
Meanwhile, Jitty has also added a natural language search search function.
The Barcelona-based rentals specialist Badi is working with the Spanish government to introduce regulations on medium-term rental properties.
Carlos Pierre, the company's co-founder and CEO, has revealed to the business news publication Via Empresa that the startup is involved in discussions with the national government to regulate rentals between 1-12 months.
Pierre said:
"We are part of a group that has been created and includes different professional operators in the sector, with the aim of having direct contact with the administrations and working together.
"We believe that it should be regulated, we agree, because in the case of small owners temporary rental is probably used in an unprofessional way. In our case, we are companies that do add a layer of services and a value proposition for a demand that exists, although this is reflected in the price.
"Through this group we work with the administrations. Ultimately, the ideal would be for them to listen to us on how to regulate, what is the best formula."
"Let's regulate temporary rentals and make sure they are not touched again for 10 years." [Translated from Spanish]
In a wide-ranging interview, Pierre also said Badi is considering entering new markets in Spain—Badi already operates in Madrid, Barcelona and Valencia—and potentially an international expansion after reaching critical mass in Spain. Other topics included the possibility of Badi setting up an investment fund.
Overseas real estate marketplace Kyero has revealed its Prime AI technology has delivered 63.85% more enquiries for estate agents in Spain compared to the portal's standard Prime subscription.
Launched in June 2024, the data-driven AI system was road-tested with Kyero's top agents. The system's targeted email campaigns, continuous optimisation and frequent ranking recalculations ensure property listings are consistently showcased to the most promising buyers. Other features include the automatic boosting and pinning of high-converting listings.
Louise Dell, co-founder at Kyero, said:
"The results we have seen from Prime AI have exceeded our expectations.
"Not only are our agents receiving more enquiries, but we’re also seeing higher conversion rates across the board. Prime AI is doing exactly what we designed it to do - it’s helping buyers find their ideal properties more easily, while ensuring agents' portfolios are being showcased to the buyer at the right time.
"It’s a win-win that provides value for agents and property seekers."
UAE-based marketplace Dubizzle has joined the Dubai PropTech Business Group, an association formed of industry leaders to help grow and develop innovation in the space through collaboration and networking.
Dubizzle joins several high-profile proptech companies in the Dubai PropTech Business Group, including its sister company Bayut, Huspy, Stake, YallaValue, Tamkeen, Realiste and Keyper.
Hogangnono, a comprehensive apartment information platform operated by Korea's leading proptech company, Zigbang, has started providing listing information services for apartment complexes nationwide.
Following on from a successful trial launched in March 2024, Hogangnono will now show for-sale and rental listings directly posted by individuals, and by extension also automatically list on Zigbang.
Meanwhile, listing information is automatically shared with up to 20 real estate agencies in the neighbourhood to accelerate transactions.
Hogangnono has been providing various information services such as apartment transaction prices, market prices, and resident bulletin boards for users who search for apartment complex information for actual residence and investment purposes.
Ahn Sung-woo, CEO at Zigbang, said:
"Hogangnono, which specializes in comprehensive apartment information services, is the best platform to connect users who wish to trade apartments. Through Hogangnono, we will strive to provide a transaction experience that satisfies landlords, buyers/tenants, and local real estate agents."
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