OnTheMarket has signed up major house builder Persimmon.
Under the agreement, which covers listing and additional advertising products, Persimmon will list all its residential developments from both its Persimmon and Charles Church consumer brands.
Persimmon sold 16,449 new homes in 2018 and is currently active in over 350 locations across the UK.
The signing follows a recent agreement with Barratt.
OTM commercial director Helen Whiteley said: “This latest agreement further broadens our advertiser base and increases our relevance to active buyers in the market, while addressing the opportunities in the new homes market.”
Persimmon group sales director Mark Cook said: “We are delighted to be joining OnTheMarket. We have watched the portal gain ground and gather momentum to become a major player in the portals market, with active backing from property professionals.
“We look forward to developing a mutually beneficial partnership with OnTheMarket to find new and motivated buyers from this additional marketing channel.”
The signing will come as good news for OTM, whose shares yesterday sank 3.5% to end the day at 69p – an all-time low. However, shares picked up in early trading this morning, to 72p.
Comments (9)
The feast is over! (Well nearly)
It seems to me OTM have morphed into everything their customer base opposed to. The infrastructure suggests they never had the imagination or the desire to chase RM, which is a shame and i suppose the reason we never signed up in the first place.
I believe there is demand for a fairer competitor in the market place. RM will eventually struggle to dominate, unfortunately for them, as the purse strings get tighter, Agents will make decisions (hard as it may be) on staying or leaving!
Technology is changing along with consumer behaviour and without adapting the offering RM, Z & OTM will fail to keep their relevance in the market place. Which will probably mean in 5 years time we are all beholden to Amazon or Facebook.
I for one have reached the point of saturation with who’s doing what and who’s signed up who. I think, like most, we are far better off in concentrating on our own business’s and making the most of what opportunities are about over the next few months.
Remember the phrase ‘sprat to catch a mackerel’ but say it the other war round. Small independent builders I know are being offered £395 + VAT per site per month.
OTM was founded out of a need for a change in the way agents were being taken advantage of by RM, many were desperate for change. Meetings around the country were filled to capacity, something one wouldn’t normally see happen with so many independents with a single cause, in the same room. So much enthusiasm, a light at the end of the tunnel for so many. In principle OTM should be very successful for high street agents, a mutual where everyone was treated fairly.
OTM is not following the principle it offered and promised its members. It still could, but not with the management it has today.
Agents want a portal that works for them, not taking their money for others to pocket.
So the portal that was set up to SAVE agents money is now just a third portal COSTING agents money with ZERO chance of ruining either rightmove or Zoopla.
It does appear that way and now they have let the builders in with principally no chains …. a great help to agents? OTM needs a cull in management and direction asap if it is to survive. It is turning into “only another portal” and the city is not impressed.
That’s correct
imagine having wasted the original massive subscriber fee plus all those months at £300 per office for this?
For free by any chance – oh plus shares in HMS Titanic?
Any real news from Helen/OTM on their quest to crush Rightmove?
……or have they merely settled at having successfully created a 3rd Portal?
What’s the story OTM …..what happens next?
Wonder how many free shares they received and if they are paying to advertise?