4 Oct 2018 07:00
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 £30 million to support a new growth strategy for the business.