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OnTheMarket Plc

INTERVIEW: OnTheMarket – A very strong performance

OnTheMarket (LON: OTMP) CEO Ian Springett talks to DirectorsTalk about its record traffic and leads. Ian explains the significance of a recent victory in the court of appeal has on the company, the key take-outs from a strong set of operating metrics, the next steps for the company and where Ian is hoping to be by the end of 2019.

OnTheMarket plc, the agent-backed company which operates the OnTheMarket.com property portal, is the third biggest UK residential property portal provider in terms of traffic. It aims to deliver a market-leading, agent-backed alternative to Rightmove and Zoopla, offering a first-class service to agents at sustainably fair prices and becoming the go-to portal for serious property-seekers.

OTMP was admitted to AIM in February 2018 with £30 million in new capital in order to support a new growth strategy for the business.

At its IPO in February 2018, OnTheMarket was 70% owned by over two thousand agent firms.

With backing from its agent owners, OnTheMarket has developed unique sources of competitive advantage such as the thousands of “New & exclusive” property listings it receives every month from its agents to display 24 hours or more before they are on Rightmove or Zoopla.