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OnTheMarket signs up 8,000 agent branches

Monday 14 May 2018

According to the latest figures, OnTheMarket now has listing agreements with over 8,000 agent branches, adding an additional 2,500 branches since floating on the stock market earlier this year.

OnTheMarket plc, the agent-backed company which operates the property portal, announced this morning that as of 11 May it has signed listing agreements with more than 8,000 UK estate and letting agent offices. This increase of over 2,500 branches since Admission to AIM on 9 February represents growth of over 45 per cent in just over three months.

This follows announcements on 14 March that in the first five weeks since Admission to AIM, additional agent firms with more than 1,000 offices were in listing agreements with the Company and a subsequent statement on 2 May that as at 25 April additional agent firms with more than 2,000 offices were in listing agreements with the Company after only just over two and a half months since Admission.

In March 2018, the company announced that traffic to the OnTheMarket property portal reached 12 million visits in the first full month since Admission to AIM. This is more than double the visits compared with February 2018 and compared with March 2017. In April 2018, traffic to the OnTheMarket property portal increased further to reach 13.7 million visits in the second full month since Admission to AIM. This compared with 5.5 million visits in April 2017.

Ian Springett, Chief Executive Officer of OnTheMarket, said:

“We are extremely pleased to be continuing to exceed our own expectations and to have reached this latest milestone of 8,000 offices so soon after announcing 7,500 offices. In sustaining this pace of expansion, we are very strongly encouraged by the growing agent support and feedback to our proposition. We remain committed to creating an agent-backed, full scale challenger portal that injects some much-needed competition into the property portals landscape by disrupting what has for too long been effectively a cosy duopoly.”