OnTheMarket: lots of noise, questionable strategy
Positive announcements galore, but it is unclear how this will ultimately convert into benefits for shareholders, who appear low down the pecking order
Every month brings news of an increase in the number of estate and letting agents signed up to use the OnTheMarket.com property portal. In October 2018 the number had hit 11,500 branches, December saw that rise to 12,000 and by the end of January 2019 more than 12,500 branches had signed up. This all sounds very encouraging, but the devil is in the detail. OnTheMarket (OTMP) is the parent company of Agents’ Mutual, which owns and operates OnTheMarket.com. Agents’ Mutual was formed in January 2013 by several leading estate and lettings agents to create a new residential property portal as a…