OnTheMarket says it now has listings agreements with more than 12,500 estate and lettings agency branches.
In a statement to shareholders and the City this morning, it explains that its sales team is “continuing to see encouragingly high levels of agent support and conversion to signed contracts when it presents the opportunity of listing on an agent-backed portal”.
Until now, an unspecified number of listings have been on a 'freebie' or ultra low-cost basis, and in past statements the portal has said it hoped these would ultimately be converted into being paying customers.
In this morning's statement, chief executive Ian Springett says: “As we approach the one year mark since OnTheMarket was admitted to [the Alternative Investment Market] we are very pleased to have reached yet another significant milestone.
“We are currently running advertising campaigns across national television and radio which complement our sustained heavy investment in digital marketing.
“Alongside the rapid growth in agent branches listing, this sustained marketing activity is helping drive our visitor traffic, and the combined effect is greatly increased lead generation for our customers.
“We are confident in our ability to deliver a market-leading, agent-backed alternative to Rightmove and Zoopla, continuing to inject much-needed competition in the portals market, while delivering a superior digital user experience for property-seekers.”
In mid-December the portal told the City it had reached listing agreements with more than 12,000 branches - that figure was reported to have contained 60 recently-recruited offices which had "entered full tariff paying listing agreements."