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

Real-life value of the most famous Christmas film homes

The real-life value of the most famous Christmas film homes, from budget classics to multimillion-pound mansions New research has gathered and analysed the estimated valuations of real homes featured in popular Christmas films, ranking them by cost. The priciest homes are featured in The Holiday, Trading Places, and Home Alone, with Amanda’s home from The…
Read More →
Estate Agent Talk

77% of buyers refuse to buy a flood risk property

Despite 4.7 million English homes facing flood risk New research from Lyons Bowe has revealed that 77% of homebuyers would not consider purchasing a property in a flood risk area, despite more than 4.7 million homes across England currently being deemed at risk of flooding. The findings come as the Government launches a new flood taskforce amid…
Read More →
Letting Agent Talk

Poor Communication becomes Expensive at Scale

The hidden cost of fragmented property management By Adam Hills, Client Services Director, LRG Living Markets A landlord asks for an update on a repair. The property manager asks the contractor, who is waiting for access from the tenant. Meanwhile, the accounts team has received an invoice but cannot tell whether the work is complete.…
Read More →
Estate Agents should not all look the same
Estate Agent Talk

When Estate Agents Decide to Go Solo

Leaving an established estate agency to work independently gives experienced agents more control over fees, client service and working hours. It also brings responsibility for compliance, cash flow and every part of the customer experience. Before handing in your notice, test the idea against realistic sales volumes, local competition and the amount of time you…
Read More →
Estate Agent Talk

What Should Buyers Ask Before Reserving a New Build?

Research from Skipton Building Society has found that 44% of aspiring first time buyers would rather buy a new build than an older property, with just 30% favouring an older build. Modern fittings and appliances were the biggest draw, cited by over half of those who preferred a new build, alongside the promise of lower…
Read More →
Breaking News

The UK cities with the largest property price increases revealed

A new study has unveiled the most challenging UK cities for first-time buyers. Newry leads Northern Ireland’s ranking, with a property price increase of 12.8%, while Hull leads Great Britain’s ranking, recording an increase of 6.6%. The research examined data from HM Land Registry to reveal the cities that have faced the highest property price…
Read More →