Ian Springett, chief executive of Agents' Mutual
The agent-backed online property portal has seen agent support soar just five days after listing on the alternative investment market.
OnTheMarket plc has announced that after just five days of trading on AIM, agent support for its portal has increased rapidly.
The company’s sales teams have been presenting to independent estate agency firms since the listing in a bid to win over agencies from across the UK.
In an announcement on the stock exchange, the firm said the overwhelming majority of these firms have responded very positively with a view to listing at OnTheMarket.com.
OnTheMarket had already signed up 81 new listing agreements by 5pm yesterday (15 Feb), and there are a significant number of further listing agreements expected to be received as a result.
This is in line with the company's strategy to grow substantially the core customer base of estate and lettings agents, whose role in the property portals market is to provide the portal operators with both revenue and property listings content.
Ian Springett, chief executive officer of OnTheMarket, said: "The level of agent interest on the ground for the OnTheMarket proposition has been extremely encouraging, not least in terms of the number of offices which have already signed a contract with OnTheMarket during our first week of recruitment and selling.
"The estate agent sector is highly local in character and early indications are that we are on track in terms of creating local momentum in the marketplace up and down the UK.
"The more agents who join now, the more we believe all agents and property-seekers will benefit in terms of the increased property stock at OnTheMarket.com.
“We are focused on reaching out to agent firms across the country which can see the disruptive appeal of our proposition of sustainable fair pricing from an agent-backed portal.
“We aim to build rapidly on this early momentum as a key step towards becoming a full-scale competitor to the market-leading portals."
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