6 Mar 2018 07:00
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06 March 2018
Hunters Property Group now listing its properties at OnTheMarket.com in long-term agreement
OnTheMarket plc, the agent-backed company which operates the OnTheMarket.com property portal, is pleased to announce that in line with the long-term agreement announced in December 2017, the estate agency firm Hunters Property Group plc ("Hunters") is now advertising its UK residential sales and lettings properties at OnTheMarket.com.
The agreement was conditional upon OnTheMarket plc's admission to the AIM market of the London Stock Exchange. Under the agreement, Hunters has also agreed to actively promote the OnTheMarket.com portal brand with digital and branch-based marketing activity.
Hunters Property Group operates one of the largest national sales and lettings estate agency businesses in the United Kingdom with a network of around 200 owned and franchised branches.
This follows announcements from OnTheMarket plc in February that Arun Estates (100+ branches) and Chancellors Group (50+ branches) are now also listing their properties at OnTheMarket.com, as part of five-year agreements.
ENDS
For further information, please contact:
OnTheMarket
Ian Springett, CEO 0207 930 0777
Clive Beattie, CFO
TB Cardew (Financial PR adviser) 0207 930 0777
Ed Orlebar or Tom Allison 07738 724 630 or 07789 998 020
Background on 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 and has, with backing from its agent owners, developed unique sources of competitive advantage such as the "New and Exclusive" property listings.
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.