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OnTheMarket reveals 63% growth in listing deals since IPO

By BFN News | 07:21 AM | Thursday 14 June, 2018


OnTheMarket said as of 13 June it has signed listing agreements with UK estate and letting agents with more than 9,000 offices. The increase of over 3,500 branches since admission on 9 February represents growth of more than 63%. The company believes that it has listing agreements with approximately 48% of UK residential estate and lettings agency branches. While steadily increasing its core agent customer base, OnTheMarket ran in May its heaviest weight of national TV advertising since the launch period of OnTheMarket.com, as well as its first outdoor poster campaign across London. A key theme of its advertising campaigns is the 'new and exclusive' properties, whereby many agents choose to list their new instructions at OnTheMarket.com in advance of listing on other portals, giving OnTheMarket a competitive advantage by appealing to active property seekers, who are the group's key consumer focus, and in turn providing listing agents with high quality leads. As announced on 7 June 2018, traffic to the portal in the current financial year between 1 February and 31 May reached 42.2m visits, compared with 21.9m in the same period in 2017. Increased consumer engagement with OnTheMarket.com is reflected by the growth in property alerts set up by users - over one million active alerts, which trigger automatic delivery to users' inboxes of the details of newly added properties that match their search criteria. CEO Ian Springett said: "We are delighted at the strength of momentum and the power of agent support behind our proposition as an agent-backed challenger portal. "We continue to exceed our own expectations of the overall number of agents signing up, achieving this latest milestone of 9,000 contracted offices just three weeks after reaching 8,500 offices." Story provided by StockMarketWire.com

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