OnTheMarket plc 11,500+ agent branches now contracted
November 01 2018 - 2:00AM
RNS Non-Regulatory
TIDMOTMP
OnTheMarket plc
01 November 2018
1 November 2018
OnTheMarket announces listing agreements with over 11,500 agent
branches, adding over 6,000 branches since Admission to AIM in
February
OnTheMarket plc, the agent-backed company which operates the
OnTheMarket.com property portal, is pleased to announce that, as at
30 October, it has listing agreements with UK estate and letting
agents with more than 11,500 branches. This increase of more than
6,000 branches since Admission to AIM in February has been achieved
in less than nine months.
OnTheMarket recently announced that Belvoir Lettings PLC, the
UK's largest property franchise, had agreed to advertise all of its
Group's UK residential sales and lettings properties at
OnTheMarket.com, and will be actively promoting the portal brand
with digital and branch-based marketing activity.
Ian Springett, Chief Executive Officer of OnTheMarket, said:
"Our first stage of growth has been focussed on rapidly expanding
our agent base and we are pleased that the latest increase to
11,500 offices highlights the strength of agent support for an
agent-backed portal. With a scalable portal, strong funding and a
progressive ramping-up of marketing activity, growth since IPO has
accelerated and momentum is continuing. This gives us confidence as
we look to the coming months."
New agents supporting OnTheMarket since Admission have ranged
from Belvoir, with over 300 offices, to thousands of small,
independent one to three office agent firms. Nearly 20 estate and
letting agent firms with 7 or more branches have signed up to list
all their properties at OnTheMarket.com and promote the brand since
the Company's IPO.
These 7+ office firms include: Kings Group, Richard James,
Anthony Martin Estate Agents, Merryweathers, James Pendleton,
Howkins & Harrison, Robert Oulsnam & Company, Pattinson,
Millerson, H&H Land & Property, Fine & Country
Midlands, Townends, Leftmove Estate Agents, Andrews, The Property
Centre, Beals and Bidmead Cook.
OnTheMarket announced on 2 October 2018 that comparing September
2018 performance with February 2018, the company had doubled
contracted agent offices to more than 11,000, trebled monthly visit
traffic to more than 17.4 million visits* and quadrupled email and
telephone leads to agents.
The growth in OnTheMarket's agency branch base to date has been
predominantly from offering free listings under short term
introductory trial offers, with a view to converting these to full
tariff contracts when the value of its offering has been
demonstrated.
The sales team is continuing to see encouragingly high levels of
agent support and conversion to signed contracts when it presents
the opportunity of listing on an agent-backed portal.
* Visits comprise individual sessions on OnTheMarket.com's web
based portal or mobile applications by users for the period
indicated as measured by Google Analytics. Data for leads generated
is reported from the Company's operating systems.
ENDS
For further information, please contact:
TB Cardew (Financial PR adviser) 0207 930 0777 / onthemarket@tbcardew.com
Ed Orlebar 07738 724 630
Alycia MacAskill 07876 222 703
Background on OnTheMarket:
OnTheMarket plc is the third biggest UK residential property
portal provider in terms of traffic. It aims to deliver a
market-leading, agent-backed alternative to Rightmove and Zoopla,
offering a first-class service to agents at sustainably fair prices
and becoming the 'go-to' portal for serious property-seekers.
OnTheMarket plc was admitted to AIM in February 2018 with GBP30
million in new capital in order to support a new growth strategy
for the business.
Comparing September 2018 performance with February 2018, the
company doubled contracted agent offices to more than 11,000,
trebled monthly visit traffic to more than 17.4 million visits* and
quadrupled email and telephone leads to agents.
At its IPO in February 2018, OnTheMarket was 70% owned by over
two thousand agent firms.
With backing from its agent owners, OnTheMarket has developed
unique sources of competitive advantage such as the thousands of
"New & exclusive" property listings it receives every month
from its agents to display 24 hours or more before they are on
Rightmove or Zoopla.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
NRAFKDDQABDDDKN
(END) Dow Jones Newswires
November 01, 2018 03:00 ET (07:00 GMT)
Onthemarket (LSE:OTMP)
Historical Stock Chart
From Apr 2024 to May 2024
Onthemarket (LSE:OTMP)
Historical Stock Chart
From May 2023 to May 2024