OnTheMarket reports dramatic surge after CoStar Group takeover

Thousands of more people are now using OnTheMarket to search for property since the portal was acquired by CoStar Group in December with unique monthly visitors to the site rocketing 81% year-on-year.

More than a thousand agents have joined the portal since the acquisition adding 57,000 listings while total monthly leads to agents have also shot up 81%.

14,000 ADVERTISERS

OnTheMarket’s agent office count has also increased by 10% since the CoStar Group acquisition with over 14,000 advertisers now listing on the site.

The upturn follows the implementation of a new sales and marketing program in December, after CoStar stated its intention to spend £46.5 million in the first year of a multi-year investment initiative totalling hundreds of millions of pounds.

Jason Tebb (main picture), President of OnTheMarket, says: “As these results show, we are making tremendous progress with our strategy of becoming the leading agent-friendly platform in the UK residential marketplace.

“We believe that we are now the fastest growing residential portal in the UK In a very small space of time following the acquisition of the business.

“We have initiated the first phase of a multiyear program to drive consumers to OnTheMarket which will significantly increase the quality of valuable leads to our agents at fair and sustainable prices.”

NUMBER ONE

And he adds: ““We believe we can create the number one property portal in the UK, leveraging CoStar Group’s expertise and resources.

“With the successes of Apartments.com and Homes.com, we have a proven playbook to follow, which perfectly complements our knowledge of the UK market and our differentiated product.”

The Neg revealed in January how OnTheMarket had signed a multi-year listing agreement with Leaders Romans Group, one of the UK’s largest property services firms, to advertise its UK residential sales and lettings properties via the portal.