OnTheMarket plc Andrews Property offices list at OnTheMarket.com
October 04 2018 - 2:00AM
RNS Non-Regulatory
TIDMOTMP
OnTheMarket plc
04 October 2018
04 October, 2018
Leading South England agent Andrews Property Group signs
long-term agreement for its 50+ offices to list at
OnTheMarket.com
OnTheMarket plc, the agent-backed company which operates the
OnTheMarket.com property portal, is pleased to announce that
leading South of England full-service agent Andrews has signed a
long-term agreement to advertise its UK residential sales and
lettings properties at OnTheMarket.com.
Under the long-term agreement, Andrews has also agreed actively
to promote the OnTheMarket.com portal brand with digital and
branch-based marketing activity. The agent operates a network of
over 50 branches across the South of England, including Bath,
Bristol and London.
David Westgate, Andrews Group Chief Executive, says: "We did not
join OnTheMarket.com in its early days. However, we have closely
watched its recent growth since its listing on AIM and we have been
impressed by the undoubted momentum it has built amongst both
agents and property-seekers. In a market where agents provide the
portals with the majority of both their content and revenue, we are
highly attracted by the agent-backed business model and are now
very pleased to announce our support for OnTheMarket by committing
to a long-term listing agreement."
Ian Springett, Chief Executive Officer of OnTheMarket plc, says:
"We are thrilled to welcome Andrews to OnTheMarket and to have
entered into a long-term contractual agreement. As an independent
firm with a strong reputation for its quality of customer service
and ethical standards, Andrews has achieved an enviable market
share in the South of the UK and the firm will undoubtedly
strengthen our position in the area with its property listings and
positive support for our proposition."
ENDS
For further information, please contact:
TB Cardew (Financial PR adviser) 0207 930 0777 / onthemarket@tbcardew.com
Ed Orlebar 07738 724 630
Tom Allison 07789 998 020
Background about OnTheMarket:
Launched in January 2015, the OnTheMarket.com property portal
was created by Agents' Mutual Limited, a company limited by
guarantee and founded in January 2013 by a small group of agent
firms, with the objective of creating a new portal to challenge the
dominance of Rightmove and Zoopla.
Both groups were felt to be using their strong positions
relative to their agent customers to impose significant price
increases for their portal services. The Agents' Mutual proposition
of an agent-backed portal offering a premier search service to
consumers whilst charging fair prices to agents quickly found
support among a very wide group of leading independent agents
across the UK.
These firms funded the venture by way of loan note subscriptions
and committed to list with the portal once it went live.
OnTheMarket is the third biggest UK residential property portal
provider in terms of traffic. OnTheMarket plc was admitted to AIM
on Friday 9 February 2018 alongside a capital raise of GBP30
million to support a new growth strategy for the business.
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END
NRAFSLFMDFASESS
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