OnTheMarket City advisor and sole broker Zeus Capital has given the portal’s announcement that it has signed a deal with UK house building giant Barratt Developments a ringing endorsement, and said the portal generates better quality leads than its rivals.
The stockbroking firm also says the portal will soon sign more developers both small and large who are attracted to portals like OTM in slow property markets in order to reduce their marketing costs and yields.
“Property Developers will make their decisions based on the economic reality,” it says in a briefing note issued yesterday.
Zeus Capital also says it believes OTM is beginning to generate more agent engagement with its service and that its Net Promoter Score is on the rise while Rightmove’s is declining as agents become frustrated by its annual rounds of fee hikes.
A Net Promoter Score is an index that measures the willingness of customers to recommend a company’s products or services to others. It is used as a way of gauging the customer’s overall satisfaction with a company’s product or service and the customer’s loyalty to the brand.
In terms of company value, Zeus Capital also predicts that OnTheMarket will eventually generate £10,000 per estate agent advertiser based on its current 60% market share of UK branches.