Time to get in-the-market and Buy OnTheMarket ?
“…The period ended with the Group financially secure, profitable and providing record leads for our customers…”
Cash conservation, profitability and succession are three of the themes inherent in the most recent interims of estate-agent owned platform OnTheMarket.
Visitor numbers to onthemarket.com following the accounting period are encouraging. In August alone the portal generated more than 2 million leads with 27.5 million visits to the site.
This morning the company released half year numbers which included revenue up 28%, average revenue per property advertiser was up 15%, net cash in the bank was around £9.8million and over 1500 new home developments were listed. Initiatives for member estate agents have been both supporting and suitably quirky with house buyers and sellers benefitting from strong organic growth and greater visibility after five years of dogged hard work by the board.
“…We have been particularly pleased with the strong consumer engagement with the portal since the easing of national lockdown restrictions in May, with record leads indicating that those consumers most active in the property market visit www.onthemarket.com” said Acting Chief Executive Clive Beattie.
Here, Clive expands further with Sarah Lowther about the credentials incoming CEO Jason Tebb has, what he will bring to the business and how the company intends to thrive and diversify through these uncertain times…
Watch Clive pitch to Sarah and investors at a ProactiveInvestors virtual investor forum in June.
The author was remunerated but does not hold shares in the company