Support for OnTheMarket.com rises beyond 6,500 estate and letting agent offices

January 14, 2016

Overall support for property website OnTheMarket.com has reached in excess of 6,500 UK estate and letting agent offices, which is an increase of more than 50% since this time last year.

The figure consists of contracted members and agents who have signed a Letter of Intent to join OnTheMarket.com when total support reaches 7,500 offices.

This latest announcement comes just eight weeks (19 Nov) after OnTheMarket.com revealed support had exceeded 6,000 offices.

The tried and tested use by OnTheMarket.com of non-binding Letters of Intent has been its primary method of building membership of the portal. Previous versions of the letter in 2013 and 2014 were very strong drivers of substantial growth in membership numbers.

OnTheMarket.com gathered its initial 1,800 Gold member offices in 2013 with this approach and it contributed to attracting over 2,800 Silver and Gold member offices in 2014. The rate of conversion to contract in both cases exceeded 80%. The latest Letter of Intent programme started at the end of June 2015 and sign-up by agents is now growing in momentum across the country.

As with earlier phases, the Letter of Intent scheme runs alongside the recruitment of fully contracted members.

OnTheMarket.com’s next major milestone is to reach the overall support of at least 7,500 offices.

Ian Springett, Chief Executive of OnTheMarket.com, said: “This latest announcement which reveals the support of more than 6,500 offices is an indication of how the momentum behind OnTheMarket.com is building across the country.

“We look forward to welcoming to the only agent-owned, agent-controlled portal more and more agents who seek to regain strategic control of their data and costs.

“The more agents who join OnTheMarket.com and the sooner they do so, the more powerful the portal will become in continuing to disrupt the duopoly and in providing a first-class alternative search service for consumers and agents alike.”

 

Alex Evans

You May Also Enjoy

Breaking News

London property values set to fall

The latest market analysis from House Buyer Bureau has found that London is now the only region of Britain where house prices continue to trend downwards, with the average home in the capital forecast to lose almost another £5,000 in value before the end of the year should current market conditions persist. House Buyer Bureau…
Read More →
Breaking News

London property values set to fall

The latest market analysis from House Buyer Bureau has found that London is now the only region of Britain where house prices continue to trend downwards, with the average home in the capital forecast to lose almost another £5,000 in value before the end of the year should current market conditions persist. House Buyer Bureau analysed…
Read More →
Breaking News

Second-steppers turn to higher LTV mortgages as deposits fall

Barclays mortgage data shows the average value of home movers’ (non-first-time buyers) deposits fell -24.8 per cent year-on-year However, the average purchase price for home movers increased 1.0 per cent year-on-year in June, as borrowers make use of higher loan-to-value mortgage products to climb the ladder 34 per cent of prospective second-steppers say they feel…
Read More →
Breaking News

Breaking Property News 23/7/26

Daily bite-sized proptech and property news in partnership with Proptech-X.   Guide to AI in Commercial Real Estate: Executive Summary by Ascendix AI in commercial real estate – a beginners manual Wes Snow, co-founder & CEO of Ascendix Technologies, ”Approximately 75% of US real estate companies have already started using AI in their operations in…
Read More →
Estate Agent Talk

Conservatories fall out of fashion

Conservatories fall out of fashion as fewer than one in 10 homes boast the former must-have feature   The latest market analysis from eXp UK has revealed that conservatories appear to have fallen out of favour with England’s homeowners, with fewer than one in 10 properties currently listed for sale offering the once-popular home improvement.…
Read More →
Breaking News

95% of estate agents say homebuying reforms could speed up property transactions

The latest survey by GetAgent.co.uk has found overwhelming support from estate agents for the Government’s proposed homebuying reforms, with the vast majority believing the changes will create a faster, more stable and more efficient property market. The proposed reforms are designed to modernise the homebuying process by introducing greater upfront information, earlier legal certainty and measures…
Read More →