Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Great interview!
A record of 25 million hits on the website last month, slowly eating into RM share.
New CEO did an interview with vox markets today. Came across really well imo.
The 5k are freeloaders too.
OTMP at least had financial committment from agents at the start.
Boomin has a long, expensive haul ahead of it.
Boomin have done well to launch this from a zero start, but i think they have 5k agents and OTMP has c15k - RM has nearer 20k.
OTMP's new CEO has been quite quiet since his appointment. Now he has his feet under the table he needs to update the strategy and progress etc. We are gaining new agents each week and hopefully are converting some of the introduction offers into full payers (as even full price is about 1/8th of what RM charge). The instant valuation tool is quite useful so hopefully that has helped too.
I'm looking at properties now and always use 2 websites as none have full coverage.
OTMP doesn't need to be another RM just a good second choice.
Does seem very undervalued ATM but not on many people's radar
I think the current downtrend is something to do with the Boomin hype.
Once the hot air dissipates, this will show to have been a good buy opportunity.
Agents not happy with Boomin already!
My flat is listed for sale in London and I had a chat with our estate agent (acorn group - so, a big boy) re online property portfolios. The message was that OTMP is very very good and they absolutely need it. Interestingly, they said that the more platforms they can advertise properties on, the better, as sourcing of viewings is increasingly shifting online rather than ‘In store’. OTMP was described as providing better quality buyers than zoopla! I was so impressed, I doubled my holdings here. Struggling to see why the share price has fallen 30-40 percent here but for a growing company, now becoming profitable, with strong thematic tailwinds (move to online and a buoyant property market, which the government supports at all costs) my 12 months market cap target is £120m, which assumes 20 percent revenue growth in 2021. It could, and probably should, be a lot higher than this given the monstrous valuation gap with Rightmove (which is valued in a different universe). GLA
Boom! and a nun with a gold bar appears! PMSL!
See the pathetic adverts here. Love it when hype becomes reality and you see the emperor with no clothes on!
https://www.estateagenttoday.co.uk/breaking-news/2021/3/boomin-reveals-tv-adverts-two-days-ahead-of-portal-launch
"How many agents have Boomin got on board?"
I'll answer as you seem a little coy. A paltry 5,000.
Boomin will be bustin!
PB had an easy target. The hated Estate Agent.
They used that to great effect and that is primarily why it worked.
Boomin has no such soft underbelly to go for. As a 4th portal, it will find the going tough, no matter how much hot air they exercise.
How many agents have Boomin got on board?
One thing is for sure you can guarantee the launch of Boomin will make that of Purplebricks look understated
The problem OTMP have now is scaling up .Are they ever going to hook a big fish? Finally seeing CWD runaway over the horizon as they have already queered their pitch with Connells
Foxtons have thrown theirlot in with Boomin
As for Purplebricks, OTMP , TPFG they will be hard pressed there too Although bricks have £60m in the Tommy and swallow
They have at least made a bit of an impact with the Housebuilders
Maybe the best chance of shareholders get a payday if Boomin see them as a relatively cheap entry point to get a listing + a few extra customers That would certainly take the biscuit
I am an ex agent.
Boomin will be bustin
At least pleased to see you and I share a belief in another stock, that being ZOE.
It is blatantly obvious that the only people on here defending OTM are the agents themselves chasing an already lost cause. Please tell me Kosh and Steve am I correct? I think the one hope agents have of a credible competitor to the dominant portals will be Boomin, however time will tell!
yes but by giving agents shares you immediately gain a level of loyalty - there is none with RM, in fact it is far to say that the majority of estate agents hate them. Having loyal customers is critical.
It won't happen over night but the more sellers on OTM the less the need to pay RM c 8 times as much.
In terms of the public awareness / perception i see this as a 3 pronged approach - advertising (as per the recent TV ads), agents promoting it (why not they are shareholders) and word of mouth.
Then there is the financials. OTMP made a maiden profit in 2020 despite covid. Revenues grew 23% to c £23m. If the discounted offers are converted to paid for adverts that almost doubles the revenue in 2021 without doing anything else.
This doesn't need to be as big as RM, just an decent alternative. Value is £70m v £5bn so RM is 70 times bigger. If OTMP can get to a 1/10th of RM i'll be happy
Please explain your words "Then greed took over, although that was always the underlying driver for those at the top."
"driven by the public" - About 10% correct.
It is the agents that give RM their dominence by giving them their properties to drive those clicks. Give the properties to OTM, RM disappears.
"OnTheMarket plc, the majority agent-owned company which operates the OnTheMarket.com property portal, is pleased to announce that it has exercised its call option to acquire the 80% of Glanty Ltd ("Glanty") that it does not currently own"
Diversification is good news. Glanty, I believe, developed Hunters new CRM "Skipa" which is being rolled out currently.
Plenty of upside.
Been an agent for many many years, don't waste your time or money. Doesn't matter what agents want this has to be driven by the public and compared to other portals this pales into insignificance. Unfortunately the one differentiator this site had was it was driven by the agents for the agents as they owned it. Then greed took over, although that was always the underlying driver for those at the top.
Yes if they do sign up more agents it grows the business BUT, I cannot see the investor case here when such growth only dilutes the shares in issue. They have over 30m shares held to issue as incentives to new agents. That represents a 40% dilution if they don't raise again. And no one on the board has any significant holding, no wonder. Good luck but not for me.
and another 25 new estate agents signed up in the last week - great progress.
If this progress continues they could sign up c100 per month so over 1k a year.
https://twitter.com/jasontebb/status/1366657725283844105
30 new estate agencies signed up in the last month or so. Progress continues - other than the share price!!!
so stamp duty holiday extended until end of June and then a higher £250k limit for another 3 months.
95% mortgage govt guarantee to assist the housing market .
All positive for housing and OTMP
on V O X market interview today
https://www.**********.co.uk/articles/shield-therapeutics-vast-resources-and-alan-green-on-3-stocks-86fe417 (replace xxx with v o x markets - no spaces).
Alan Green mentions OTMP as a no brainer for RM!! Just saying