OnTheMarket is holding its AGM this morning at which shareholders – including agents – could be scrutinising elements of the annual report.
This was published last month, and shows that OTM is owed £6.8m by agents who have not paid their subscriptions.
The annual report also shows salaries for its senior managers in the year to January 21, 2019.
Yesterday, OTM shares closed about 1% down at 95p.
OnTheMarket threatens to go after agents who owe almost £7m in unpaid subscriptions
Comments (8)
Anthony Kerrigan, If people got behind OTM like they did with Rightmove then they wouldn’t have to advertise and agents would see and feel the benefits, it works better for many agents it probably depends on where they are in the country and whether their sales or lettings, where I’m located letting agents don’t need Rightmove and are dropping off all the time.
Wouldn’t need to advertise? Are you sure about that?
Our entire lettings portfolio is currently Let (with the exception of 1 bedroom) without Rightmove. We are listing on Zoopla and OTM. Originally a big fan of OTM but not so much since going public and now pushing ridiculous products – even the rep says it’s a stupid idea. Zoopla leads in the past have been better for lettings with OTM providing vague ‘anything within 50 mile radius’ leads that frankly just felt like they were made up. You then try calling the applicant and no answer – go figure. Recently the leads from OTM for lettings have been better quality than that of Zoopla and I would sooner drop Zoopla if not purely for the smugness of the rep, but either way lettings on Rightmove is unnecessary.
There is something to be said for diversifying and keeping all the portals going so that they can compete with each other. I actually welcome OTM improving and keepign the likes of Zoopla and Rightmove on their toes.
OTM was a great idea, but sadly they stopped advertising too early into their inception to concentrate on court cases. But even now what are they doing to advertise for their members? Where were they at recent TPO conference or any other industry wide meeting?
If it is true that they have allowed new members to list for FREE how can they justify chasing despondent founder members for unpaid subscriptions?
The current OTM platform is not the original Blue Sky thinking owned by members, it is a second rate smaller version of Rightmove and Zoopla, such a shame!
Wednesday headline OTM admit to offering something that hardly anyone has heard of due to the ineptitude of founder agents and the board of Directors!!!!
What next?
End of term report should say “must try harder”
We are getting far more decent leads from OTM than Zoopla, and as a result will be looking to drop Zoopla soon. The idea behind OTM is a sound one and if every agent jumped on board it would present a serious threat to Rightmove whose only purpose in life is to screw as much money out of us it can.
Same for me. Zoopla is useless for me now. I get almost as many enquiries from OTM as Rightmove. Looking to drop Zoopla too.
Well why the hesitation or is it keeping your options open?