13 May 2021 07:00
None of the information contained in this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018, nor does it contain any information that is required to be announced via a Regulatory Information Service under the AIM Rules for Companies
13 May 2021
ONTHEMARKET PLC
("OnTheMarket", the "Group" or the "Company")
OnTheMarket plc announces commercial partnership with Sprift Technologies Limited
OnTheMarket plc ("OnTheMarket"), the majority agent-owned company which operates the OnTheMarket.com property portal, announces today that it has signed an exclusive commercial partnership with Sprift Technologies Limited ("Sprift"), the award-winning property data specialist.
The partnership will enable OnTheMarket to provide its agent customers with free Market Appraisal Guides which are powered by the Sprift platform via OTM Expert. These can be customised by agents to address the needs of each valuation and will contain an extensive range of property data, which will help them to secure more valuations and win more instructions. The functionality will be released to all OnTheMarket agent customers within the next six weeks.
To date, there are over 28 million UK residential properties stored on the Sprift platform and, since its launch in 2016, the company has produced reports on over 1.3 million properties for its clients, using data from official and trusted sources including Ordnance Survey, Royal Mail, Google, Land Registry and Ofsted, augmented by Sprift's proprietary data sets.
Jason Tebb, Chief Executive Officer of OnTheMarket, said:
"Providing enhanced data and market intelligence for agents is a priority for OnTheMarket and we're very pleased to partner with Sprift to offer our agents 'best in class', free and easily generated data-rich Market Appraisal Guides. Working with the Sprift team closely over the past few months, we've been consistently impressed by their approach and ambition."
Matt Gilpin, Chief Executive Officer of Sprift, commented:
"We share OnTheMarket's vision for empowering agents via the use of property-centric data and it is clear that the ambitions of both companies are absolutely aligned. We are delighted to work with another business that has the same appetite for innovation and growth and is committed to change and evolution for the benefit of estate agents and consumers alike."
ENDS
For further information, please contact:
OnTheMarket 0207 353 4200
Jason Tebb, Chief Executive Officer
Clive Beattie, Chief Financial Officer
Tulchan Communications 0207 353 4200
Giles Kernick
William Booth
Oliver Norgate
Zeus Capital (Nominated Adviser/Joint Broker) 0203 823 5000
Jamie Peel, Martin Green, Daniel Harris
(Corporate Finance)
John Goold, Benjamin Robertson (Broking)
Shore Capital (Joint Broker) 0207 408 4090
Daniel Bush, John More (Corporate Finance)
Fiona Conroy (Corporate Broking)
Background on OnTheMarket :
OnTheMarket plc, the majority agent-owned company which operates the OnTheMarket.com property portal, is a leading UK residential property portal provider.
Its objective is to create value for shareholders and property advertiser customers by delivering an agent-backed, technology enabled portal, offering a first-class service to agents and new homes developers at sustainably fair prices and becoming the go-to portal for serious property-seekers.
OnTheMarket provides a unique opportunity for agents to participate in the equity value of their own portal. Agent backing and support enable OnTheMarket to display "New & Exclusive" properties to serious property-seekers 24 hours or more before agents release these properties to other portals.
Background on Sprift
Established in 2016, property data specialist Sprift offers comprehensive data on UK properties.*
Through its data, Sprift is on a mission to better inform buyers and, ultimately, reduce the time it takes to complete a house sale. Sprift reports help people make informed decisions that lead to a reduction in the number of deals that collapse - giving agents a competitive edge.
The Sprift dashboard contains instant, comprehensive data on any UK residential property. The data is made available to any property professional to share with their clients, either through an online dashboard or fully white-labelled vendor and buyer reports.
*Northern Ireland launching soon