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OnTheMarket’s crunch date for agent membership

OnTheMarket is to release its full year performance figures to shareholders on June 8.

This will be for its trading year to January 31.

New chief executive Jason Tebb, who moved into the role only at the end of the trading year, has made substantial changes to the portal’s activities in recent months.

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OTM has now completed its purchase of PropTech firm Glanty - a deal which began 15 months ago earlier when it took an initial 20 per cent stake in the firm.

OTM has also enlarged its digital presence through a media deal with the UK’s largest news publisher, Reach. This owns nine national news brands including The Mirror, The Express and the Daily Star plus 110 regional titles include the Manchester Evening News, Liverpool Echo and Bristol Post, along with over 70 online brands such as the ‘Live’ network of sites and hyperlocal online platform ‘InYourArea’. 

However, OTM now faces renewed competition not only from Zoopla and Rightmove - who have both unveiled new services and marketing campaigns - but also from the Bruce brothers’ Boomin platform.

The figures in June will largely cover a period when OTM was led by acting chief executive Clive Beattie, who has now returned to his role as OTM chief financial officer.

At the last announcement OTM had some 12,500 advertising agents. Agency numbers and average revenue per agent/advertiser will be the key figures to watch for in June.

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