Portal's acting CEO says he faces 'regrettable' decision to consider redundancies as realities of Covid aftermath affect the business.

Agent-owned platform says many agents reassessed the value they get from Zoopla and Rightmove during the lockdown as it reports increased branch numbers.

Deal launched in April gives joining agents who pay up to £2,500 of OTM shares per branch depending on how many other portals they list with.

Zeus Capital says the portal will have a difficult 2020 but it expects it will be profitable in 2021/2 as member agents move to paying full fees and revenues increase by £10m.v

'Third portal' says it has enough cash to fund the extended offers, which sees its fees discount held at 30% during August but reduce to 20% in September.

Clive Beattie says the process is taking longer due to the Covid social distancing rules, but that agents should expect an announcement 'soon'.

OnTheMarket acting-CEO Clive Beattie, talks to The Negotiator as we ask him some of the industry's key questions about the portal following its latest results.

The portal reveals increasing revenues and additional paying customers, but also reveals that its 33% discount offered during the crisis, will cost it dear.