OTMP renews major brand contracts and signs agent

OnTheMarket

13/10/2022 07:01

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RNS Number : 7107C  OnTheMarket plc  13 October 2022

13 October 2022

 

 

ONTHEMARKET PLC

("OnTheMarket", "OTM", the "Group" or the "Company")

 

OnTheMarket renews major brand contracts and signs high-growth estate agency
group to the portal

 

OnTheMarket plc (AIM: OTMP), the majority agent-owned company which operates
the OnTheMarket.com property portal, is pleased to announce the renewal of
contracts with existing customers and the signing of an agreement with Lomond
Group.

Contract Renewals

 

On the Group's admission to AIM in February 2018, many of our agency customers
at that time committed to listing agreements with a five-year minimum term,
running initially to February 2023. We are pleased to announce that several of
the highest profile agency brands have signed new agreements including but not
limited to;

 

 ·    Arun Estates              ·    Knight Frank
 ·    Chancellors               ·    Savills
 ·    Chestertons               ·    Spicerhaart
 ·    Douglas & Gordon          ·    Webbers
 ·    Glentree                  ·    Carter Jonas

 

Lomond Group

 

Alongside these important contract renewals, OnTheMarket is pleased to
announce an agreement with Lomond Group, to list its properties with the
portal. The fast-growing network of sales and lettings businesses encompasses
over 60 branches across many well-known agency brands located across England
and Scotland.

 

In July, Foxtons, one of London's leading estate agencies with 50
interconnected branches, similarly committed to a listing agreement,
significantly expanding the portal's presence in the capital.

 

Jason Tebb, Chief Executive Officer of OnTheMarket, commented: "We have been
successfully broadening the technology capabilities and functionality of our
agent-focussed products and services, ensuring we continue to offer greater
value to agents and consumers alike. The commitment of these major brands and
our valued long-term agency customers and shareholders is proof that our
strategy is working. We look forward to unveiling many more innovations as we
continue to develop our differentiated, technology-enabled property business."

 

Ends.

 

 For further information, please contact:

 OnTheMarket                                     0207 353 4200

 Jason Tebb, Chief Executive Officer

 Clive Beattie, Chief Financial Officer

 Tulchan Communications (Financial PR Adviser)   0207 353 4200

 Giles Kernick                                   onthemarket@tulchangroup.com (mailto:onthemarket@tulchangroup.com)

 Alec Tidbury

 Zeus Capital (Nominated Adviser/Joint Broker)

 Jamie Peel, Martin Green, James Hornigold       0203 829 5000

 (Investment Banking)

 Benjamin Robertson (Corporate Broking)

 Shore Capital (Joint Broker)

 Daniel Bush, John More (Corporate Finance)      0207 408 4090

 Fiona Conroy (Corporate Broking)

 

About 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, tech-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 enables
OnTheMarket to display Only With Us properties to serious property seekers
either exclusively* or 24 hours or more before agents release these properties
to Rightmove or Zoopla.

 

*  Exclusive properties are properties advertised at OnTheMarket.com
(http://onthemarket.com/) by customers who do not list their properties with
either Rightmove or Zoopla.

 

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