OnTheMarket is to restart its TV advertising campaign this bank holiday Monday, as it ups the ante in attempting to raise consumer awareness of the portal – and in particular, the fact that many properties new to the market are first listed on it.
Helen Whiteley, OTM’s commercial director, said: “This latest round of national TV advertising highlights our commitment to invest heavily to build awareness and usage of the portal, and in turn, to generate more leads and greater value for our estate and letting agent customers.
“The key message about OnTheMarket getting thousands of new properties every month 24 hours or more before Rightmove or Zoopla powerfully engages with those who are actively looking for a new home and need to ensure they don’t miss out.”
The campaign will run through the rest of May, to reach 21.4m adults.
Yesterday however, the performance of its shares must have given it pause for thought.
They fell over 10%, or 11.5p, during the day to close at 100p.
The fall triggered ‘freezing’ at the end of the day after trading finished, with Price Monitoring Extensions to allow checking and verification.
Comments (12)
Whether it’s £300 – £400 or £500 per month (sure I’d rather pay £100 or £200) but I’m with you SLF even at £500 its about a 1/3 to 1/4 of Rightmove fees so where is the logic (especially as most of the above are admitting it’s harder) in knocking the cheaper alternative.
To repeat your phase “As usual, lots of moaning about RM from the very agents that keep it in business. It’s laughable….you couldn’t make it up. Bang your head against a wall, complain it hurts and then bang it again and complain it hurts then……”
Are Estate Agents really just the new lemmings waiting to jump ….after signing their worldly possessions away to Rightmove first of course!!!
If Agents sat back for just one moment and thought about it they would switch on mass (many potentially saving their business) and the public will follow the properties to On The Market … if a few years down the line OTM takes the p~@s agents can just switch again to the next cheap alternative and let the portals know we have the stock and we won’t be mugged off.
Proud to say we jumped in December – we are just as busy as we were before the switch and money saved so far is approx. £9000.00
WAKE UP GUYS PLEASEEEEEE ….
As usual, lots of moaning about RM from the very agents that keep it in business. It’s laughable….you couldn’t make it up. Bang your head against a wall, complain it hurts and then bang it again and complain it hurts then……
OTM lost their sense when they shafted the original members, they seem to have forgotten the original purpose and they are trying to be another RM. Hiking fees and are very secretive; they will not openly state what the fees are.
I will always stand by my opinion that they will never ever be #1 in this game, they will never knock RM and Z off their spots.
Plus, they are incredibly jammy when it comes to charges and suppliers.
Doomed
Only from lack of leadership.
Otm has recruited an army but has forgotten which war they were fighting .
Despite all the management failings and them being just a bit rubbish, it’s going to be luck that finally kills them.
The agents who have had a lovely free trial are now being told to cough up hundreds of pounds per month in a market that’s slower than a herd of snails traveling through peanut butter. It’s just not going to happen.
This quote wins today for me “Slower than a herd of snails through peanut butter”
OTM have made a huge mistake by increasing fees to agents so quick. They have also started removing Fee Free agents which in turn they are starting to lose stock.
The key to any portal is stock. They should of kept agents fees as they were for at least another 2 years at least.
The portal is not worth anywhere near £400/500 PM at this moment in time. They to need to make a rapid think if they are going to survive.
I wonder how the thinly disguised OTM reps will spin this in here again?
“I’m getting great quality leads from OTM, much better than anyone else because I’m doing new and exclusive. Oh and that heavily London based advertising is helping me get 2% 250 miles away”
I predict a management buyout before end of the year, led by the man who’s whole concept this was. Difference this time of him owning a portal will be he has 50% of UK independents locked in to a minimum of another 3 years.
Seems strange they are spending millions on advertising when this won’t make rightmove go away.
Be better off giving the money to agents and asking them to switch off rightmove for 3 months.
Rightmoves power is only in our stock. As a business they are hated.
Couldn’t agree more!
You could not legally pay agents to de-list from Rightmove, they would have a field day in the courts