OnTheMarket Achieves New Milestone with Over 15,000 Advertisers

In an impressive display of growth and market confidence, OnTheMarket (OTM) has recently announced that it has exceeded 15,000 advertisers on its platform for the first time in its history. This landmark achievement comes within just 60 days following the acquisition of the portal by the US retail titan, CoStar Group, marking a significant moment in OTM's journey within the UK property market.

 The count of 15,000 advertisers encompasses a blend of estate agents and property developers, signalling an increase from its previous record of 13,867 advertisers noted in June 2020. However, specific details regarding the distribution between agency and developer advertisers remain unspecified, as highlighted by a spokesman for Estate Agent Today.

Further bolstering its market position, OTM has also reported an 81% annual surge in unique monthly visitors. Additionally, the number of agent offices listing on the platform has seen a 10% increase since the transition into the hands of CoStar Group. This surge in platform usage and the growing number of advertisers underline the portal's expanding influence and appeal within the UK's residential property sector.

Jason Tebb, president of OTM, expressed pride in this significant milestone, viewing it as a pivotal step towards establishing OTM as the leading, agent-friendly residential property portal in the UK. "Surpassing 15,000 advertisers marks another significant milestone in our journey," Tebb remarked. He further emphasised the importance of the advertisers' support, which he views as a strong endorsement of the business's strategic direction. Tebb assured that OTM remains committed to delivering valued services and platforms at fair and sustainable prices to its agent and developer customers, leveraging the expertise and resources of CoStar Group to innovate and reshape the UK portal landscape.

This development positions OTM in a competitive stance within the property portal arena, as compared to its counterparts, Zoopla and Rightmove. Zoopla reports approximately 19,000 agents and housebuilders on its platform, though it does not provide a detailed breakdown between the two categories. Meanwhile, Rightmove disclosed in its recent annual accounts that it has 15,839 agency customers out of a total of 18,785 advertisers.

Ellis Brooke, a leading estate agent based in Rugby utilises the OnTheMarket platform to market its properties. This collaboration is part of Ellis Brooke's strategy to provide exceptional service and reach to its clients by leveraging OTM's growing platform and audience.

As OTM continues to evolve and expand its services, the portal's achievements are a testament to its growing influence and the confidence it instils among real estate professionals across the UK. The significant milestone of surpassing 15,000 advertisers not only highlights OTM's potential but also underscores the dynamic and competitive nature of the UK's property market.