OnTheMarket (OTM) has claimed that its ‘new and exclusive’ listings strategy is helping the portal catch up with Rightmove, saying that over a million people have now signed up to its property alert service.
OTM says a ‘key driver’ behind the sign-up milestone is many buyers’ desire to receive alerts about properties 24 hours before they are uploaded to the other portals.
Rightmove remains some way ahead of OTM, although the gap is closing; Rightmove’s most recent full-year results revealed that during 2018 it sent over three quarters of a billion instant alerts to ‘over two million’ people.
By comparison OTM says it sent over half a billion instant alerts to its base, or three quarters of Rightmove’s figure, and claims that more of its users are people planning home moves who are, therefore, generating higher-quality leads.
Other portals attract a higher proportion of ‘property porn’ consumers and industry users, it claims.
No comparison with Zoopla is possible since its parent company ZPG de-listed on the stock exchange in July last year and stopped publishing comprehensive performance figures.
“OnTheMarket is continuing to close the gap with Rightmove in terms of engagement with currently active property-seekers,” says Ian Springett, CEO of OnTheMarket Plc (left).
“That over one million people are already using our property alert service indicates the agent-backed is delivering an increasingly relevant service for the property-seeking public.
“This is creating growing value for our agent advertisers and is an important step towards providing them with a market-leading alternative to Rightmove and Zoopla.”
Read more about OTM.