LATEST: Crunch time looming for new OnTheMarket chief
Portal to announce first results since arrival of CEO Jason Tebb three months ago, and launch of rival Boomin.
Challenger portal OnTheMarket.com is to reveal its preliminary results for its financial year ending January 31st on 8th June.
This will be the first test for recently-arrived CEO and former estate agent Jason Tebb, who has now been in post for three months.
Its approximately 13,000 listing branches will be looking to see if the portal is making headway against its key competitors Rightmove and Zoopla, and whether it can keep ahead of its most existential threat, challenger portal Boomin, which recent revealed it has 5,000 plus branches signed up.
“I wanted to take the time after I joined the OnTheMarket last December to assess the business, learn what our customers expect from a portal and what consumers need and want from us too,” says Tebb.
“As many will already know, we’ve run a series of ‘town halls’ since the beginning of the year which has given me the opportunity to speak to literally hundreds of agents in a very short timescale, together with the fantastic feedback I’ve had via email and direct messages on social media from agents who have seen that I am prepared to listen, understand and then action.”
Clever things
Senior agents have also been talking publicly about their views on the portal. Lee Wainright (left), former Purplebricks and Countrywide senior, and now FocalAgent CEO, recently told Chris Watkin that OnTheMarket “has done some clever things although they’ve shot themselves in the foot a few times but actually they represent the estate agent as a consumer that wants something different.
“You’ve got a situation where the portal landscape needs to do more for agents, and it will be interesting to see if Boomin is the answer.
“Rightmove is a necessary evil, but its offering is starting to look a bit old hat.”
Watch Tebb being interviewed: Read more.
This article is either inaccurate or Nigel Lewis has some inside information that hasn’t hit the market yet!!
OTM reported having 12,500 branches in their investor report just six months ago and, I would imagine this has grown since.
Boomin announced c5000 at launch and have undoubtedly grown further since – perhaps 6000 at the time of writing.
There is, of course, a huge difference between 6000 and 12500+ and important to set the record straight.
Thanks Mike – yes indeed 12,500 is correct!
Hi Nigel – obviously an important detail. Well done and thank you on on amending. Hope you are well.