The level of overall support for OnTheMarket.com has reached in excess of 6,000 UK estate and letting agent offices. The figure consists of contracted members and agents who have signed a non-binding Letter of Intent to join OnTheMarket.com when total support reaches 7,500 offices. This has been achieved less than 10 months after the launch of the portal in January 2015.
The tried and tested use by OnTheMarket.com of non-binding Letters of Intent has been its primary method of building membership. Previous versions in 2013 and 2014 were very strong drivers of substantial growth in membership numbers.
As with earlier phases, the accumulation of Letters of Intent runs alongside recruitment direct to contract. The target this time is to reach overall support of at least 7,500 offices. This will be a significant milestone as, if at that point new members make the same 'other portal' choices as our existing members, we estimate that we will have more available UK residential property listings than Zoopla - the Tipping Point.
Ian Springett, Chief Executive of OnTheMarket.com, said: "We will be entering 2016 in a strong position - supported by another heavyweight national marketing campaign - and intent on overtaking ZPG in terms of available UK residential listings.
"From that point, we believe that agent momentum will snow-ball and we will focus all our energy on continuing to build a sustainably low-cost alternative to Rightmove to serve both agents and consumers better."