OnTheMarket plc Belvoir to list all its properties at OnTheMarket
October 23 2018 - 2:00AM
RNS Non-Regulatory
TIDMOTMP
OnTheMarket plc
23 October 2018
23 October 2018
Belvoir Lettings PLC, the UK's largest property franchise with
300 offices, joins OnTheMarket to list all its Group's
properties
OnTheMarket plc, the agent-backed company which operates the
OnTheMarket.com property portal, is pleased to announce that
Belvoir Lettings PLC ("Belvoir"), the UK's largest property
franchise, has signed an agreement with OnTheMarket to advertise
all of its Group's UK residential sales and lettings properties at
OnTheMarket.com and will actively promote the portal brand with
digital and branch-based marketing activity.
Belvoir was founded in February 1995 as a specialist lettings
agent and over 23 years, through both organic growth and by
acquisition, the Group has expanded to a network of 300 franchised
lettings and estate agents operating nationwide across a range of
leading brands, including Belvoir, Northwood and Newton
Fallowell.
Dorian Gonsalves, Chief Executive Officer of Belvoir, says: "We
have for some time believed that the property portals landscape was
ripe for disruption. OnTheMarket is the first serious contender for
several years to be injecting genuine competition in the interests
of agents and property-searchers alike. It is agents who provide
the portals with the majority of their content and income. It is
also agents who serve their clients and property-searchers on the
ground in selling, letting, buying and renting property. I'm very
pleased to be announcing our strategic support for OnTheMarket as
an agent-backed business and am confident that with agent momentum
building it will continue to go from strength to strength."
Ian Springett, Chief Executive Officer of OnTheMarket plc, says:
"While we have already been working with some individual offices
within the Belvoir Group, we are absolutely delighted to welcome
the entire Group to OnTheMarket. As an outstanding business with
300 lettings and estate agent offices up and down the UK, Belvoir
continues to expand its network. Belvoir has an enviable reputation
for combining strong central and supportive management with an
entrepreneurial culture and high quality local client service.
Belvoir's decision to support OnTheMarket is a strong testament to
our success to date in increasing our agent base, our consumer
traffic and the value we are creating for agents."
ENDS
For further information, please contact:
TB Cardew (Financial PR adviser) 0207 930 0777 / onthemarket@tbcardew.com
Ed Orlebar 07738 724 630
Tom Allison 07789 998 020
Background on OnTheMarket:
Launched in January 2015, the OnTheMarket.com property portal
was created by Agents' Mutual Limited, a company limited by
guarantee and founded in January 2013 by a small group of agent
firms, with the objective of creating a new portal to challenge the
dominance of Rightmove and Zoopla. Both groups were felt to be
using their strong positions relative to their agent customers to
impose significant price increases for their portal services.
The Agents' Mutual proposition of an agent-backed portal
offering a premier search service to property-seeking consumers
whilst charging fair prices to agents quickly found support among a
very wide group of leading independent agents across the UK. These
firms funded the venture by way of loan note subscriptions and
committed to list with the portal once it went live.
OnTheMarket is the third biggest UK residential property portal
provider in terms of traffic and has, with backing from its agent
owners, developed unique sources of competitive advantage such as
the "New and Exclusive" property listings.
OnTheMarket plc was admitted to AIM on Friday 9 February 2018
alongside a capital raise of GBP30 million to support a new growth
strategy for the business.
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END
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