OnTheMarket can save agents up to £8,000 per year, CEO Jason Tebb has told The Neg.

After publishing annual results showing record revenue and profit figures, Tebb was clear that OTM is not only the cheapest search portal, but also offers other savings for agents.

“Our agents are saving up to £8,000 per year by being a member of OnTheMarket,” he says.

“If they take all the products and services via us rather than through separate partners and relationships, they could save thousands of pounds a year.”

Tebb says OTM has 15 commercial partners which provide services free or discounted, and those savings can be passed onto agents.

Record profits

OTM revealed record revenue and profit figures in its latest full year results ending January this year.

Revenue jumped 14% to £34.45 million and adjusted operating profit rose by 59% to £4.3 million.

The number of agents listing on the site fell 2% to 13,086 in the last year, which was more than OTM expected, but it is trying to mitigate this by launching new products and services.

Agents still form the majority owning group after a five-year ‘lock-in’ period since OTM was floated on the AIM market ended in February.

We will in the future deliver an end-to-end tech solution for the entire property eco-system.”

The portal recently became the first to use AI to enable home movers to search for a property, and will soon allow customers to describe their requirements verbally through mobile apps.

Tebb says OTM has “a solid base for the future”, and a three-year roadmap of development. “We will in the future deliver an end-to-end tech solution for the entire property eco-system,” he says.