OnTheMarket reveals 27% increase in agents listing on site
Company President Jason Tebb says the portal has also seen a 212% increase in traffic and a 348% growth in unique visitors since it was taken over.
OnTheMarket has had a ‘market-leading rate of growth’ since its acquisition by CoStar Group, the property portal has announced including a big leap in the number of agents uploading properties to its website.
Over the last 10 months, it has seen a 212% increase in traffic and 348% growth in unique visitors, a 76% growth in internally verified sales leads and a 90% increase in total visits between September 2022 and September 2023.
Total stock on the site has increased by 45% while the number of listing estate agents has grown by 27%.
The rapid increase in traffic numbers has led to OnTheMarket claiming it is now the fastest-growing portal in the UK.
During the same period, Zoopla and Rightmove experienced a 9% and 1% decline in total visits.
Andy Florance, founder and CEO of CoStar Group, commented: “It is hard to believe that CoStar Group acquired OnTheMarket only 10 months ago. The team has accomplished what seems like 10 years of work in this time.
“Our year-over-year growth speaks volumes about our commitment to delivering exceptional value to both property seekers and agents and we look forward to building on these successes and delivering superior ROI to clients.”
Jason Tebb, president (main pictured) of OnTheMarket, adds: “Since the acquisition we’ve been very clear about our goal to become the market-leading portal in the UK.
Rate of growth
“This rapid rate of growth, in less than a year, is a statement of intent and shows that we are delivering on CoStar’s long-standing strategy of investing and partnering with agents in the industry to generate high-intent leads at a fraction of the cost of our rivals.
“We have utilised the investment and expertise of CoStar with immediate effect, assembling the components of a best-in-class, user-focused platform, increasing traffic and advertisers far more quickly than initially expected.
“But this is only the beginning. Our focus remains on becoming the number one property search site in the UK.”
As was reported in The Neg, though, there has been some recent controversy on this topic.
