Number of agents listing on OTM hits record high of 15,000
Portal says this and several other new performance improvements are down largely to its new US ownership.
The number of agents and developers advertising their properties via OnTheMarket (OTM) has hit a record high, the portal has revealed this morning.
Just over 15,000 advertisers are now listed on its website, exceeding the 13,867 total recorded four years ago during its last peak.
OTM, which was bought by US private equity giant CoStar late last year for £100m, says the new ownership has seen it improve its performance including unique monthly visitors rising by 81% year on year and the number of agent offices increasing by 10%.
This follows the recent signings of several major estate agency brands including Leaders Romans Group, Edward Mellor and Rettie.
Jason Tebb, President of OnTheMarket, says his portal remains committed to becoming larger than both Rightmove and Zoopla, saying, although he qualifies this by saying ‘agent friendly’.
Direction
“I’m proud to have each of our advertisers on board and their support is a strong endorsement of the direction the business is going,” he adds.
“We are committed to continuing to provide the service and platform our agent and developer customers value at fair and sustainable prices.
“With the backing, expertise, and resources of CoStar Group, we believe we are well-placed to change the UK portal landscape.”
OTM announced it was to delist on the London AIM stock market in October last year and, despite warnings by several leading agents, shareholding agents and all its major City shareholders voted through its purchase by US property giant CoStar just before Christmas.
