Ian Springett
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Latest property news
New high: OnTheMarket has 83% of Zoopla’s property listings
Challenger portal also suggests its expansion efforts have helped reduce Zoopla's total listings by 4.2% year-on-year.
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Latest property news
Smaller agencies facing ‘decision time’ over Rightmove subscriptions, OTM claims
OnTheMarket (OTM) has claimed this morning that a minor rebellion is underway against Rightmove among independent estate agents fed up with the 20% or more hike in fees introduced this year by the UK’s No.1 portal. Ian Springett, CEO of OTM, claims that many agents are spending more on their Rightmove subscriptions than they are on renting their branches each month and that ‘decision time’ has come as many face reduced revenues from lettings after June 1st. “We believe the value provided by each portal will become even more important,” says Springett. OTM has persuaded five single-branch estate agents around the UK to go public and reveal that they have cancelled their Rightmove subscriptions after signing up to long-term listings agreements with OTM. These include Albion Sales & Lettings in Northampton; Camerons in Bournemouth; Clintons Management Ltd in Ilford, Essex; Glastonbury lettings firm Jungle Property and Skipton estate agency James Pye & Sons. Although small operations, it is unusual for agencies to publicly reveal that they have quit Rightmove, such is the fear that vendors and landlords will question why they’re no longer marketing their properties through the UK’s largest portal. “I’ve chosen to terminate my contract with Rightmove after…
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Marketing
OnTheMarket to have 17,200 branches listing by 2021, claims City broker
Briefing document makes claim as portal's CEO claims it has been instrumental in reducing Rightmove's average number of leads generated per branch.
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Latest property news
OTM shares surge after newspaper columnist recommends ‘buy’
City investment tipster Sabah Meddings at the Sunday Times helps portal's shares continue a 28-day rally.
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Latest property news
OTM share price rises by over 40% in just two weeks
OnTheMarket’s share price jumped by 5% yesterday as the company’s stock continues its two-week-long fightback which has seen its shares increase by over 41% to £1.02p. Since it went public on London’s AIM market nearly a year ago the company’s stock has enjoyed mixed fortunes, rising to £1.80 last summer but since then slowly falling away to 72p before starting its recent rally. City investors have begun taking the property portal’s claims seriously after OTM’s attempts to gain market share have begun to bear fruit, and reassured by the ending of its legal wrangle with Gascoigne Halman over its previous ‘one other portal’ rule. The residual non-competition issues relating to OTM’s legal claim against the estate agency remain to be resolved. Last week OTM revealed that it now has 12,500 listing branches which based on Local Data Company sector research suggests it has 70% of agents signed up. Earlier this week it claimed to have 80% of Zoopla’s listings and 60% of the whole market. “We are currently running advertising campaigns across national television and radio which complement our sustained heavy investment in digital marketing,” says CEO Ian Springett (left). “We are confident in our ability to deliver a market-leading,…
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Latest property news
OTM nearly doubles its branch count in just ten months using freebie deals
Property portal OTM now has 12,000 branches listing on its site ten months after its launched on the AIM stock market.
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Latest property news
OnTheMarket slides into the red as it splurges on advertising and new staff
Company's half-year results reveal a £5.7m loss after spending £12 million on advertising and a large increase in IT, sales and customers service personnel.
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Latest property news
50+ branches of Andrews signs up to long-term deal with OnTheMarket
Agency knows for its considerable charity work is latest to join portal after initially rejecting advances from OnTheMarket.
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Latest property news
OnTheMarket passes 11,000 branch milestone
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. Lead generation 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…
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Latest property news
Number of branches listing via OnTheMarket nearly doubles in six months
The number of branches listing via OnTheMarket has nearly doubled in just six months to 10,500 since it launched on AIM.
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