OntheMarket.com goes from strength to strength..........

OnTheMarket.com goes from strength to strength announcing 10 million visits in three months OnTheMarket.com – the new property portal launched as a rival to Rightmove and Zoopla where  Julian Reid Estate Agents, are listing all of our properties – is pleased to announce it has achieved 10 million visits to the site with 90 million page views in just three months. OnTheMarket.com launched on January 26, 2015, and features hundreds of thousands of properties for sale and to rent at all price points across the UK. In April alone, OnTheMarket.com received 3.5million visits with an average of 9.31 pages viewed and an average of 6.5 minutes spent on the site by each user. As a new portal, OnTheMarket.com is focused on attracting currently active property seekers who are likely to represent a fraction of the total traffic to more established portals. The source used by OnTheMarket.com to gather its traffic information is Google Analytics, a market leading website tool. OnTheMarket.com has recruited more than 800 estate and letting agent offices this year alone and now has a membership of more than 5,000 which consists of more than 2,500 firms. OnTheMarket.com is pleased to announce over 27 per cent of its member offices are choosing to upload their new to market properties exclusively to it ahead of any other portal. In the first hundred days since it launched, OnTheMarket.com's TV advert has been aired more than 5,000 times and watched by 44.8 million people. Across print media, more than 100 press adverts have run and our online adverts have generated around 155 million impressions, while our pay-per-click campaign has delivered some 55 million more. This powerful marketing campaign will continue unabated over the coming months.  We as a company think it is great news that OnTheMarket.com is growing at such an impressive rate and it will continue to expand as the property-seeking public realises it is the first place to find some of the latest homes that come to market.  Ian Springett, Chief Executive of OnTheMarket.com, said: “We are confident in becoming the number two property portal by the end of January, 2016 on our way to achieving our medium term objective of becoming the market leader. "We are experiencing impressive levels of returning visitors as well as a high percentage of new ones, while consumers and agents tell us the website is clean and fresh and they are impressed by its lightning speed and by its responsive design (unique among the major portals). This allows it to adapt to the screen size of whatever device is being used to view it. “We have achieved a huge amount in a very short space of time and with so many of our offices uploading their properties to OnTheMarket.com ahead of any other portal, it is essential that anyone seriously searching for property visits OnTheMarket.com and sets up a free property alert." Board member, Paul Masters, Group Marketing and Operations Director at KFH, said: “There is no doubt that OnTheMarket.com is having a great impact on the industry and it is moving into second place rapidly.” Notes to editors: OnTheMarket.com is the property website of Agents’ Mutual Ltd. Agents’ Mutual is a company limited by guarantee and was established in 2013. Its purpose is to provide a first class property search service to local estate and letting agents, their clients and the property-seeking public and it is not driven by shareholder value motives. Every estate or letting agent firm which lists properties with it becomes a member of the company and has an equal interest in it. One firm = one member = one vote, irrespective of the number of offices a firm has. OnTheMarket.com member agents provided more than £9million of pre-launch development funding for the venture. This was provided by way of loans and pre-launch subscriptions made in proportion to the number of offices each firm had. The combination of such substantial development funding contributed by its member agents and the committed fees revenue they have paid from launch enables OnTheMarket.com to run a very heavy advertising campaign on national TV, in the press and online. The property websites market was reviewed by the Office of Fair Trading (OFT) in 2012 when it considered the merger of Digital Property Group (parent DMGT) and Zoopla Group (a private equity backed business). It found that the market was not working well and there was too little competition and choice for property market participants. The OFT approved the merger which created Zoopla Property Group in April 2012. In their most recent end of year reports, Rightmove income was £167M and profits were £124.6M (74% profit margin). Zoopla’s income was £80.2M and profits were £39M (49% profit margin). The OnTheMarket.com management team were responsible for the creation and development of Primelocation.com which was sold to DMGT in 2006 and is now part of Zoopla Property Group. All estate and letting agents joining OnTheMarket.com commit to list all their properties at OnTheMarket.com and a maximum of one other competing property website, which in practice means in most cases removing their properties and their listing fees from either Rightmove or Zoopla. This element of the strategy is widely seen as essential in enabling the business to disrupt the duopoly which currently exists in the property website market. Currently, less than 10% of member firms are using Zoopla as their other portal. OnTheMarket.com covers the whole of the UK. Approximately 70 per cent of its member firms are located outside of London and 30 per cent inside London, around 90 per cent of its members have between one and three offices.