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OnTheMarket flotation to go ahead, raising £30m
OnTheMarket has finally revealed its flotation which will raise £30 million of the £50 million it has hoped to receive from the City, three years after it first launched. The 18.2 million shares it is to issue via its public offering are priced at £1.65p each and will start trading on AIM stock market on February 9th, valuing the newly-created OnTheMarket plc at £100 million. Up to £25 million of the cash raised from the share issue will finance a marketing battle with ZPG and Rightmove, while the rest will be spent on an enlarged agent sales team and improvement to its IT systems. The share issue reveals that although the “quality investors” it refers to in his comments about the public offering have been willing to invest in the portal, its initial hopes of raising more money have not been possible. Agents who list on OnTheMarket, based on their branch size and how long they have listed with the portal, were given equity in the company in return for giving up their membership in the original mutual organisation. CEO Ian Springett says: We believe that the new capital, together with our ongoing revenues, will support our strategy to build…
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Exclusive: Opposition to fees ban strongest in rural, Conservative constituencies
SIGN THE PETITION AGAINST THE LETTINGS FEE BAN HERE Opposition among agents to the government’s tenant fees ban is strongest in rural, Conservative-voting area of the country, The Negotiator can reveal. Analysis of the 8,500 people who have so far signed an e-petition calling on the government to do a U-turn on the policy and instead bring in a fees cap reveals that the areas with the most signatures are all rural and semi-urban areas with Conservative MPs. The only exceptions to this rule are Coventry, six of London’s inner boroughs including Battersea, Bermondsey, Limehouse, West Ham, Ealing and Finchley, plus, Brighton and Hove, Bournemouth and Bristol West. The areas where most people have signed the petition are in parts of Hampshire, Somerset, Wiltshire, East Sussex, Kent, Essex, East Anglia, Oxfordshire, Northamptonshire and Lincolnshire. Opposition to a ban is weaker in the north although there are hotspots of people signing the petition in North Lincolnshire and Lancashire. Within housing minister Dominic Raab’s constituency of Esher & Walton in Surrey, 17 people have signed the petition, while in Sajid Javid’s constituency of Bromsgrove in the West Midlands, 15 people have. The constituency with the highest number of signatures is in Kettering,…
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Agents’ diaries: property markets in Brighton, Devon and Northumberland
Each month we visit three agents across the country to discover what is happening in their local market. This month we meet members of The Guild of Property Professionals in Brighton, Crediton and Northumberland.
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Three key marketing trends for agents in 2018
At the start of the New Year, it is very important to invest time in planning your marketing strategy to ensure further success, says Nelly Berova. Here are her three marketing trends to watch in 2018.
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Fine & Country launches in Romania
Fine & Country opened a new office in Bucharest, Romania on 28th November.
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Manning Stainton supports local club
Manning Stainton’s Beeston branch provided Middleton Park FC Under 8s with an impressive new green and black playing strip as part of its Community Support Programme.
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How to get your blogs shared on social media
Anyone can blog, but, says Nelly Berova at Art Division, how do you create a blog article that’s guaranteed to be shared on social media?
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154 reasons why your landlords need more help
There are at least 154 reasons why your landlords need more help than they think, says Adam Walker, so your first job is to tell them what they are!
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A new home for Cameron
Cameron , an agency with two branches in West London, has a new home in West Drayton...
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Lost the plot? Welsh agent reported to ASA for misleading online ad
An estate and letting agent in North Wales has agreed to remove an online ad listing for land for sale after a complaint by a member of the public to the Advertising Standards Authority (ASA). Four-branch sales and letting agent Bob Parry had posted an online advert for a plot of land that claimed the agent “did not have knowledge that any planning application had been made for the land”, the ASA says. The complainant told the advertising watchdog that “planning application had previously been rejected on the land and that they had informed the advertiser” about this. The online ad was not amended and the claim continued to appear, prompting the complainant to consider it was misleading. After being contacted by the ASA, Bob Barry Lettings agreed to remove the claim from the advert. Bob Parry Lettings Ltd, which trades as Bob Parry and has 13 staff, has offices in Caernarfon, Porthmadog, Blaenau and Llanrwst. Book publisher Bob Parry, which is one of the leading agents in the area in and around Snowdonia National Park, is also well known in Wales for another reason. Simon Simcox, who has been an agent in the area for over 40 years and…
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