OnTheMarket has hit out at a newspaper claim that it is just “limping along.”
Patrick Hosking, a prominent financial columnist at The Times, accused OTM of failing to deliver on early promises after being launched on the back of agents' frustrations about Rightmove.
He says OTM - which launched with claims to become number one portal within a short period - is now just “limping along” in third place. And he rubs salt in the wound by saying OTM's share price is “drifting lower” too.
Now Jason Tebb, the ex-Foxtons estate agent who is the new chief executive of OnTheMarket, is rejecting the accusation.
Repeating figures already produced by the portal he says: “OnTheMarket isn’t ‘limping'; indeed, we had a robust and strong start to the year with more than 1.8m leads generated in January, which is an average of 146 per advertiser. Visits to the site in the month were 28 million and weekly site visits exceeded six million every week since the start of February 2021.”
Admitting that “there is much more we can do” Tebb promises improvements.
“I’ll shortly be unveiling our forward-looking strategy in the next few weeks and I’m really excited about sharing those details with our community of agents. In the meantime, my personal engagement with our customers will pick up pace as I continue to listen, understand and learn about what they need and want from a portal and what they feel would add value to their businesses. Their support so far has been overwhelming” he claims.
He continues: “We’re here to serve agents and safeguard their best interest and as the only portal which is majority agent-owned, we are best placed to do just that. But equally as important is providing the consumer with a reason to visit the site time and time again.
“We are already building momentum, with new agents choosing to list with OnTheMarket for the first time, as well as expanding our product and service offering to existing customers to make it easier, quicker and more cost effective for agents to sell and let their listings."