OnTheMarket has signed over 11,000 estate agency branches to its service which is approximately 65% of the overall UK sales and lettings industry, it has announced.
The portal’s doubling of its branch count has been achieved, it admits, predominantly on the back of free listings being offered to agents via short term introductory trial offers that.
OTM’s strategy and future success is now focussed on converting these agents into paying customers further down the line, in effect turning the UK into a three-portal market.
The formerly mutual portal has also tripled its site traffic since February, which reached 17.4 million visits during September.
OTM has also been ramping up its lead generation efforts too and says it has quadruped the number of email and telephone leads it sent agents.
“Our strategy to grow rapidly the scale of the portal is working and these latest milestones indicate that more property-seekers using OTM and viewing more properties – many of which are listed with us on a new and exclusive basis – is a recipe for generating more value to agents,” says Ian Springett, Chief Executive Officer of OnTheMarket.
“That value is not just in the direct advertising return we provide but also in creating much-needed competition in a market previously dominated by just two large portal groups.”
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